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Canex Intersects 0.7 G/T Gold Over 16.8 Metres Within 0.3 G/T Gold Over 62.5 Metres Increases the Target Strike Potential By 550%
CALGARY, AB / ACCESSWIRE / June 7, 2021 / CANEX Metals Inc. ("CANEX" or the "Company") is pl...
About this update from Canex Metals Inc
[{"type":"text","content":"Canex Intersects 0.7 G/T Gold Over 16.8 Metres Within 0.3 G/T Gold Over 62.5 Metres Increases the Target Strike Potential By 550%CALGARY, AB / ACCESSWIRE / June 7, 2021 / CANEX Metals Inc. (\"CANEX\" or the \"Company\") is pleased to announce assay results have been received for 5 additional drill holes from the Company's 2021 reverse circulation drilling program at the Gold Range Project, Arizona.HighlightsDrill holes GR21-31 and 32 tested the historic Malco Mine area and represent a 1.2 kilometre step out from the Eldorado Zone along the same district scale mineralized structure and highlights the size potential of the mineralized structure.Broad mineralized intervals were encountered in the holes including 0.3 g/t gold over 62.5 metres in hole GR21-31, including 0.7 g/t gold over 16.8 metres, with the hole ending in mineralization.The zone returned higher grade intercepts of 1.4 g/t gold over 7.6 metres, 0.9 g/t gold over 10.7 metres, and 4.9 g/t gold over 1.5 metres.Dr. Shane Ebert, President of the Company stated, \"We are very encouraged to have hit broad zones of gold mineralization with a large step out, reinforcing our structural interpretation of a mineralized oxide gold target now supported by drill hole assays over 1.2 kilometres in strike length. The results of the 2021 drill campaign are really opening up the size potential of the Gold Range property with multiple targets open for expansion over a large area. The Company looks forward to receiving results from 16 additional holes that tested the historic Excelsior Mine area, a zone which is further along strike to the east and has seen considerable historic underground and surface mining but no modern exploration\".Results for reverse circulation drill holes GR21-28 to 32 from the Company's 2021 drilling program at the Gold Range project have been received and are summarized in the table below. These holes were drilled at the Eldorado Zone and along the projected strike of oxide gold mineralization up to 1.2 kilometres to the east.Holes GR21-31 and 32 tested the historic Malco Mine area located half-way between the Eldorado and Excelsior zones. Hole GR21-31 intersected 62.5 metres grading 0.3 g/t gold from 74.7 metres to the end of the hole at 137.2 metres, with mineralization remaining open at depth. The hole also intersected higher grade zones including 0.7 g/t g...