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Canex Intersects 15.2 metres of 1.0 g/t gold and 6.1 metres of 4.1 g/t gold and Confirms New Parallel Mineralized Target at Gold Range, Arizona
CALGARY, AB / ACCESSWIRE / July 5, 2023 / CANEX Metals Inc. ("CANEX" or the "Company") is please...
About this update from Canex Metals Inc
[{"type":"text","content":"Canex Intersects 15.2 metres of 1.0 g/t gold and 6.1 metres of 4.1 g/t gold and Confirms New Parallel Mineralized Target at Gold Range, ArizonaCALGARY, AB / ACCESSWIRE / July 5, 2023 / CANEX Metals Inc. (\"CANEX\" or the \"Company\") is pleased to announce results from 19 reverse circulation drill holes from multiple targets across the Gold Range Project, Arizona. This drilling has intersected strong gold mineralization within the Excelsior Zone and demonstrates a new area with good gold potential at East Excelsior, located immediately east of Excelsior.HighlightsHole GR23-131 at the Excelsior Zone intersected 4.1 g/t gold over 6.10 metres including a high-grade vein returning 13.3 g/t gold over 1.53 metresHole GR23-136 at the Excelsior zone intersected 1.0 g/t gold over 15.24 metres including 2.4 g/t gold over 4.57 metres5 holes tested a 200-metre strike length at the East Excelsior Target with all 5 holes returning gold mineralization, confirming the exploration potential of the systemThe East Excelsior Target contains multiple parallel mineralized structures within a zone up to 75 metres wideThe East Excelsior Target is fully permitted for further drill testing, a permit amendment is underway to allow further drill testing and definition of the new WestGold discoveryAssay results from drill holes GR23-119 and GR23-121 to 138 have been received and are presented here. These drill holes tested the Shaft Target, the East Excelsior Target, and Excelsior. A property drill hole location map is shown in Figure 1, a drill hole map for Excelsior and East Excelsior is shown in Figure 2, and cross sections through the new East Excelsior Target are shown in Figures 3 and 4. Significant gold intersections are shown in the Table below. Figure 1. Gold Range Property drill hole location map showing the Excelsior to WestGold trend, the Central and Lillian Zones, Shaft, and drill hole locations included in this release.Hole GR23-131 tested a gap in the central part of the Excelsior zone and returned a high-grade gold intercept of 4.1 g/t gold over 6.1 metres including 13.3 g/t gold over 1.53 metres. The drill encountered a historic underground working immediately below this high-grade zone where no recovery was obtained over 3 metres. Hole GR23-136 was located 100 metres northeast of hole GR23-131 and returned 1.0 g/t gold over 15.24 metres in...