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CANEX Metals Completes Trenching Program At Gibson Project; Discovers Several New Fault Zones and Veins
CALGARY, ALBERTA, Aug. 29, 2017 (GLOBE NEWSWIRE) -- CANEX Metals Inc. (TSX VENTURE:CANX) (“CANEX” or the “Company”) is pleased to announce the Company has succe
About this update from Canex Metals Inc
[{"type":"text","content":"CALGARY, ALBERTA, Aug. 29, 2017 (GLOBE NEWSWIRE) -- CANEX Metals Inc. (TSX VENTURE:CANX) (“CANEX” or the “Company”) is pleased to announce the Company has successfully completed trenching and surface sampling at the Gibson gold-silver project in British Columbia. The field program lasted just over two weeks and was conducted by a 4 person exploration team. During the program an access trail into the historic area of known mineralization was constructed, 8 trenches were excavated, and 157 surface rock samples and 445 soil samples were collected. Rock samples have been shipped for assay with results expected in 3 to 4 weeks. The program successfully uncovered numerous faults and veins in multiple orientations, ranging from less than 1 metre to 6 metres in width. Most of the zones uncovered are highly oxidized at surface and contain variable amounts of clay alteration, fault gouge, breccia, fractured quartz fragments, and quartz sulfide or oxide veins. Veins and altered fault zones have been exposed within an area 450 metres long by 200 metres wide, and the zones remain open for expansion in all directions. Soil samples were analyzed by hand held X-ray fluorescence (XRF) in the field and trenching of anomalous soil samples in zones of shallow cover proved to be highly effective in discovering new veins or altered fault zones. In addition, soil samples have identified over 10 new exploration targets within an area 600 metres wide by 1350 metres long that have yet to be tested. Zinc, lead, arsenic and copper have been used as pathfinders for precious metals in the mineralized system. XRF soil values ranged from 28 to 4417 parts per million (ppm) zinc, <3 to 2639 ppm lead, <4 to 1004 ppm arsenic, and <3 to 612 ppm copper. Precious metals in exploration projects are typically not detected or reported from hand held XRF analyses. The Company will report gold and silver values once fire assay results have been received from Activation Laboratories Ltd., an ISO 17025 accredited geochemistry laboratory. The Gibson Prospect The Gibson prospect is 887 hectares in size and located in central British Columbia, approximately 95 kilometres northwest of Fort St. James. The area is accessible via a network of all weather logging roads. Gibson co...