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Canex Intersects 27.4 Metres of 1.1 g/t Gold In New Drill Discovery at the Gold Range Project, Arizona
CALGARY, AB / ACCESSWIRE / January 23, 2023 / CANEX Metals Inc. ("CANEX" or the "Company") is pl...
About this update from Canex Metals Inc
[{"type":"text","content":"Canex Intersects 27.4 Metres of 1.1 g/t Gold In New Drill Discovery at the Gold Range Project, ArizonaCALGARY, AB / ACCESSWIRE / January 23, 2023 / CANEX Metals Inc. (\"CANEX\" or the \"Company\") is pleased to announce the results from 11 reverse circulation drill holes from the Gold Range Project, Arizona, and the commencement of a surface exploration program.HighlightsThe Company's first drill test of the Shaft Target in the northern part of the Gold Range property has resulted in the discovery of a new and potentially significant zone of gold mineralization with hole GR22-110 returning 1.1 g/t gold over 27.44 metres including 1.7 g/t gold over 15.24 metresThis discovery is located 1.5 kilometres northeast of the Central Zone and 2.4 kilometres north of the Excelsior Zone and appears to be part of a new gold trend that is partially covered by stream-wash gravels17 claims have recently been staked to secure additional ground adjacent to the new discoveryDrilling at the southern end of the Excelsior Zone has extended the width of mineralization by 75 metres and the zone remains openField crews have been dispatched to the project to further define the Shaft and WestGold Targets in preparation for drill testingAssay results from drill holes GR22-104 to 114 have been received and are presented here. These include holes from the Central and Excelsior Zones, as well as maiden drill tests of the Adit, Tin Cabin, and Shaft Zones in the northern part of the claim block. A drill hole location map is shown on Figure 1, a cross section through the new discovery at the Shaft Zone is shown on Figure 2, and a cross section through the expanded portion of the Excelsior Zone is shown on Figure 3. Significant gold intersections are shown in the table below.Figure 1. Gold Range Property drill hole location map showing the Excelsior to Eldorado trend, the Central and Lillian Zones, the new WestGold target and discovery hole GR22-110 at the Shaft Target.Shaft Target - New DiscoveryA new drill hole discovery has been made at the Shaft Target where hole GR22-110 has intersected 1.1 g/t gold over 27.4 metres from 33.54 metres downhole, including 1.7 g/t over 15.24 metres.This discovery is located 1.5 kilometres northeast of the Central Zone and 2.4 kilometres north of the Excelsior Zone and appears to be part of a new gold zone with a northeast trend...