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CANEX Receives Amended Exploration Permit for Gold Range
CALGARY, AB / ACCESSWIRE / February 25, 2020 / CANEX Metals Inc. (TSXV:CANX) ("CANEX" or the...
About this update from Canex Metals Inc
[{"type":"text","content":"CANEX Receives Amended Exploration Permit for Gold RangeCALGARY, AB / ACCESSWIRE / February 25, 2020 / CANEX Metals Inc. (TSXV:CANX) (\"CANEX\" or the \"Company\") is pleased to announce the Company has received an amended exploration permit for the Gold Range Property, Arizona.The amended exploration permit allows the Company to conduct trenching and drilling at several of the new targets recently identified on the increased property package, including the Pit, Central, East, Tin, and Shaft Zones, as well as along the Adit Shear Zone. The permit allows for up to 35 drill holes from 15 drill pads and 10 additional trenches. A reclamation bond of US$20,680 has been posted with the Bureau of Land Management.Dr. Shane Ebert, President of the Company stated, \"We are very pleased with the speed and efficiency of the exploration permitting process in this part of Arizona. Our original exploration permit application took 8 weeks to get accepted and this amended permit came back in less than 8 weeks. Such rapid turn-around times really highlight the favorable mining jurisdiction for the area and facilitate flexible and cost-effective exploration programs. The Company has already assembled several good drill targets to directly test known high-grade zones that are well defined and sampled on surface. Planned holes at the Pit Zone have the potential to intersect 5 or 6 flat lying high grade quartz veins before potentially intersecting a steeply dipping mineralized feeder structure. Additional drill targets will be assembled over the next few weeks as more assay data and geologic mapping are received and interpreted.\"Exploration UpdateThe Company is pleased to announce that a 767-sample soil program has recently been completed at Gold Range and all samples have been delivered to ALS Minerals USA Inc. in Elko, Nevada for analyses. A geologic field team is currently finishing up another program of mapping, sampling, and prospecting on the property.A surface program include trenching, additional sampling, and final drill target selection will commence shortly after soil sample and mapping results have been received and interpreted. A near-term drill program consisting of up to 35 drill holes testing multiple targets across the property is currently being planned.About the Gold Range PropertyThe Gold Range Property is located in Northern Ari...