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CANEX Receives High Resolution Airborne Magnetic Results from the Gold Range Property, Arizona
CALGARY, AB / ACCESSWIRE / January 16, 2020 / CANEX Metals Inc. (TSXV:CANX) ("CANEX" or the ...
About this update from Canex Metals Inc
[{"type":"text","content":"CANEX Receives High Resolution Airborne Magnetic Results from the Gold Range Property, ArizonaCALGARY, AB / ACCESSWIRE / January 16, 2020 / CANEX Metals Inc. (TSXV:CANX) (\"CANEX\" or the \"Company\") is pleased to announce it has received results from a high-resolution drone magnetic survey conducted at the Company's Gold Range Property, Arizona.A 394-line kilometre drone magnetic survey was flown at Gold Range in December by Pioneer Aerial Surveys Ltd. A GEM Systems GSMP-35UA (Potassium vapor) magnetometer was used with a 50 metre line spacing and at an altitude of 40 metres above ground. Survey results show excellent resolution and are helping CANEX understand the complex structural framework of the area and make key observation on the controls of several known mineralized zones. Positive magnetic results have prompted the Company to commission additional drone magnetic surveying over two priority targets to obtain increased resolution and positioning. This additional surveying is scheduled to commence shortly.Highlights of the Magnetic SurveyMultiple large-scale structures have been identified in multiple orientations.The Adit Shear Zone has been traced through magnetics and surface work for over 5 kilometres of strike length and contains multiple zones of mineralization along it with new targets identified.The Pit Zone is located at the southern end of the Adit Shear Zone near the intersection of two major fault systems.A prominent magnetic low is directly associated with known mineralization at the Pit Zone and greatly expands the size potential of the target to an area at least 450 long by 130 metres wide.Dr. Shane Ebert, President of the Company stated, \"The new magnetic data is proving to be very useful for identifying major faults through the area, putting known high-grade gold zones into a structural context, and identifying new and untested target areas. We plan to use this data, along with our growing mapping and geochemical data sets, to help focus work on targets showing potential for scale. We look forward to getting a field crew on the ground shortly to prospect, map, and sample new target areas\".Preliminary examples of three select magnetic features and targets are available here. Finalized magnetic maps will be posted on the Company's website after all additional surveying and interpretation is complete.Page...