Business
CANEX Metals Trenches up to 24.1 g/t Gold Equivalent at Gibson Project
CALGARY, Alberta, Oct. 18, 2017 (GLOBE NEWSWIRE) -- CANEX Metals Inc. (TSX VENTURE:CANX) (“CANEX” or the “Company”) is pleased to announce surface chip sampling
About this update from Canex Metals Inc
[{"type":"text","content":"CALGARY, Alberta, Oct. 18, 2017 (GLOBE NEWSWIRE) -- CANEX Metals Inc. (TSX VENTURE:CANX) (“CANEX” or the “Company”) is pleased to announce surface chip sampling results and 2 grab sample results from trenching conducted during August at the Gibson gold-silver project in British Columbia. Results for Trenches 1 to 3 have been received and compiled and are presented below. Trench 1 exposed multiple mineralized zones including 4.0 g/t gold equivalent (Au Eq with 1.63 g/t Au and 176 g/t Ag) over 12 metres, including 24.1 g/t Au Eq (5.3 g/t Au and 1380 g/t Ag) over 1 metre, and a second zone of 5.9 g/t Au Eq (4.7 g/t Au and 90.5 g/t Ag) over 3 metres including 10.7 g/t Au Eq (10 g/t Au and 49.5 g/t Ag) over 1 metre. Trench 1 hit an additional zone with 2.1 g/t Au Eq (1.4 g/t Au and 51.6 g/t Ag) over 2 metres. Trench 2, located 40 metres north of trench 1, intersected 2 mineralized zones, the first grading 8.3 g/t Au Eq (5 g/t Au and 243 g/t Ag) over 1 metre, and the second grading 8.8 g/t Au Eq (4.9 g/t Au and 284 g/t Ag) over 1 metre. Two grab samples of remnant sulfide rich material from otherwise highly oxidized surface zones returned 21.2 g/t Au Eq (5 g/t Au and 1190 g/t Ag) and 23.9 g/t Au Eq (3.1 g/t Au and 1530 g/t Ag), showing very high silver values. Trench 3, located 70 metres south of trench 1, exposed a 2.5 metre wide highly oxidized fault and shear zone with clay and fault gouge that returned 1.8 g/t Au Eq (0.75 g/t Au and 77.5 g/t Ag) over 1 metre. Summary of surface chip and grab sample results from Trenches 1 to 3 at Gibson Trench Samples Interval (m) Au Eq* g/t Au g/t Ag g/t Pb % Zn % Trench 1 5677665 to 676 12 4.0 1.63 176 1.8 0.3 including 5677676 1 24.1 5.3 1380 4.8 0.3 Trench 1 5677692 to 94 3 5.9 4.7 90.5 1.4 0.2 including 5677693 1 10.7 10 49.5 0.76 0.2 Trench 1 5678640 to 41 2 2.1 1.4 51.6 0.4 0.5 Trench 2 5678576 1 8.3 5 243 1.4 0.3 Trench 2 5678579 1 8.8 4.9 284 2.6 0.3 Trench 2 5678585 grab 21.2 5 1190 3.5 1.4 Trench 2 5678719 grab 23.9 3.1 1530 2 1.6 Trench 3 5678695 1 1.8 0.75 77.5 0.3 0.1 *Gold equivalent (“AuEq”) values calculated using $1250 US per ounce for gold and $17 US per ounce for silver with metallurgical recoveries assumed to be 100%. Pb and Zn values are not included in Au Eq. Dr. Shane Ebert, President of the Company, commented, “These initial trench results are ...