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CANEX Metals Comments on the Geology and Style of Mineralization Intersected in 2018 Drilling at Gibson
CALGARY,AB / ACCESSWIRE / November 13, 2018 / CANEX Metals Inc.("CANEX" or the "Company") (T...
About this update from Canex Metals Inc
[{"type":"text","content":"CANEX Metals Comments on the Geology and Style of Mineralization Intersected in 2018 Drilling at GibsonCALGARY,AB / ACCESSWIRE / November 13, 2018 / CANEX Metals Inc.(\"CANEX\" or the \"Company\") (TSX-V: CANX) is pleased to provide comments on the geology andstyle of mineralization at the Company's Gibson Gold-Silver Project followingobservations made during the recent 2018 drilling program.The Gibson Gold-SilverProperty is located in north central British Columbia, 50 kilometres west ofthe Mount Milligan Cu-Au Mine and 40 kilometres southeast of the Kwanika Cu-Audeposit.The property sits within anorthwest trending belt of alkalic porphyry deposits and related prospectslocated within the prolific Quesnellia Terrain. Gibson contains base-metal rich quartz veins and breccias hosted inhornfelsed sedimentary and volcanic rocks of the Lower Jurassic TaklaGroup.The mineralization is locatedwithin about 500 metres of the contact of the Early Jurassic HogemBatholith.CANEX Metals has the right toearn a 100% interest in the property from Altius Resources Inc. by issuingshares and spending $500,000 on exploration. In October 2018 the Company completed 10 drill holes at Gibson andexcavated two trenches.Assay resultsfor this program have not yet been received and are expected in 5 to 6 weeks.The drilling successfully intersected zonesof quartz-sulfide veining consistent with those described in historic drillingfrom the zone. Observations from drill core indicate quartz-sulfide veins andbreccias occur along fault zones which locally contain altered and mineralizedrhyolite dikes.Larger veins containpronounced halos of clay and sericite alteration, grading outward into anassemblage of chlorite, epidote, calcite, and pyrite.Veins range from less than 0.2 metres to over2.5 metres wide and contain quartz and calcite with variable amounts ofsulfides consisting mainly of pyrite, sphalerite, and galena, with minorchalcopyrite and arsenopyrite.Sulfidecontent in veins ranges from trace amounts up to 50% or more.Drilling and trenching show mineralizedzones occur along both flat and steeply dipping fault structures, locally withmultiple episodes of veining, brecciation, and fault movement.Some holes hit up to 5 separatequartz-sulfide veins showing multiple veins within the main Gibson zone. Photographs from the2018 Gibson exploration program are availab...