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Canex Makes New Drill Discovery at the Central Zone And Receives Amended Exploration Permit For the Gold Range Project, Arizona
CALGARY, AB / ACCESSWIRE / September 6, 2022 / CANEX Metals Inc. ("CANEX" or the "Company") ...
About this update from Canex Metals Inc
[{"type":"text","content":"Canex Makes New Drill Discovery at the Central Zone And Receives Amended Exploration Permit For the Gold Range Project, ArizonaCALGARY, AB / ACCESSWIRE / September 6, 2022 / CANEX Metals Inc. (\"CANEX\" or the \"Company\") is pleased to announce the results from 11 reverse circulation drill holes from the Gold Range Project located in northern Arizona and the receipt of an amended exploration permit for the project.HighlightsHole GR22-91 has made a new drill discovery at the Central Zone returning 0.7 g/t gold over 9.15 metres and 0.6 g/t gold over 18.29 metres, for a cumulative mineralized interval of 27.44 metres grading 0.6 g/t gold.The Central Zone discovery occurs within a 1000 by 200 metre gold in soil anomaly associated with intrusive dikes, alteration, and quartz veining and is emerging as another area on the property with potential to host near-surface bulk tonnage gold resources.Gold mineralization was also encountered at Lillian near the northwest end of the Central Zone, with hole GR22-92 returning 1.0 g/t gold over 4.57 metres.Step out drilling at Excelsior continues to expand mineralization, with hole GR22-86 intercepting 0.5 g/t gold over 18.29 metres, hole GR22-87 intersecting 1.2 g/t gold over 7.62 metres, and hole GR22-90 intersecting 1.2 g/t gold over 12.19 metres.An amended exploration permit has been received allowing the Company to construct up to 40 additional drill pads on federal lands. This permit will enable further drill expansion of known zones, testing of new targets, and drill evaluation of the recently recognized 3.2 kilometre by 500 metre wide oxide gold trend running from Eldorado to Excelsior.Assay results for 18 drill holes from the current drill program are pending.Assay results for drill holes GR22-86 to 96, from the Excelsior, Central, Lillian, and Malco zones, have been received and are presented here. A drill hole location map is shown on Figure 1, and a SW-NE cross section through the Central Zone discovery is shown on Figure 2. Significant gold intersections are shown in the table below, with 9 of the 11 holes encountering significant gold mineralization (holes GR22-89 and GR22-94 did not encounter significant mineralization).A single hole, GR22-91, was drilled at the Central Zone during the January to March 2022 drilling program resulting in a new drill discovery. Hole GR22-91 intersec...