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CANEX Metals Completes Drilling at Gibson
CALGARY,ALBERTA / ACCESSWIRE / October 25, 2018 / CANEX Metals Inc.("CANEX" or the "Company"...
About this update from Canex Metals Inc
[{"type":"text","content":"\nCANEX Metals Completes Drilling at GibsonCALGARY,ALBERTA / ACCESSWIRE / October 25, 2018 / CANEX Metals Inc.(\"CANEX\" or the \"Company\") is pleased to announce the successful completion ofdrilling at the Company's Gibson Project located in central British Columbia. The Company completed 10 holes for 1001 metres of drilling andexcavated two trenches during the program.Easy access to the project and proximity to infrastructure helped theCompany complete the program ahead of schedule and significantly under budget.Dr. Shane Ebert President of the Companycommented, \"This drill program is a critical step in demonstrating thepotential of the Project and understanding the nature and orientation of themineralization.Drilling has intersectedmultiple quartz-sulfide veins ranging from less than 0.5 metres to over 2.5metres wide, containing variable amounts of pyrite, sphalerite, galena, withminor chalcopyrite, arsenopyrite, and sulfosalts.Trenching and drilling also identified a newzone of quartz-sulfide veining located adjacent to the main Gibson trend,demonstrating excellent exploration potential in the large covered areasurrounding the known veins\".The drill core has been logged and sampled with assay results expectedin 8 to 10 weeks.The Gibson ProspectTheGibson prospect is 887 hectares in size and located in central BritishColumbia, approximately 95 kilometres northwest of Fort St. James.The area is accessible via a network of all-weatherlogging roads.Gibson contains epithermalgold-silver base metal mineralization hosted in highly altered sedimentary and volcanicrocks adjacent to the Hogem Batholith.The zone was discovered and explored by Noranda Exploration Company from1989 to 1991.Noranda drilled 9 holeswith 8 of the 9 holes intersecting significant gold and silver mineralization.The best drill intercept returned 4.26 metresgrading 6.77 g/t gold and 1828 g/t silver. Prior to the 2017 trenching program by CANEX no follow up trenching ordrilling has been conducted at Gibson since the highly successful Norandaprogram.Known mineralized zones at Gibson are located within a strong soil anomaly850 metres long by 500 metres wide, and only a small portion of that anomalyhas been explored by trenching or drilling.The Noranda drillresults are reported in BC Assessment report 21762 for Noranda ExplorationCompany by Stewart and Walker (1991...