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Canex Samples High Grade Gold in Chip Samples from the Pit Zone at the Gold Range Property Arizona
CALGARY, AB / ACCESSWIRE / February 4, 2020 / CANEX Metals Inc. (TSXV:CANX) ("CANEX" or the ...
About this update from Canex Metals Inc
[{"type":"text","content":"Canex Samples High Grade Gold in Chip Samples from the Pit Zone at the Gold Range Property ArizonaCALGARY, AB / ACCESSWIRE / February 4, 2020 / CANEX Metals Inc. (TSXV:CANX) (\"CANEX\" or the \"Company\") is pleased to announce results for 55 rock samples and 9 reconnaissance soil samples taken at the Pit Zone in December 2019 at the Gold Range Property, Arizona.Highlights from the Pit Zone SamplingThirteen vein samples returned gold values ranging from 7.1 to 31.7 g/t gold over widths ranging from 0.25 to 1.5 metres. Numerous high-grade gold veins have been identified at the Pit Zone over an area 200 metres by up to 40 metres wide situated with a larger geophysical anomaly at least 450 metres long by 130 metres wide. Multiple stacked flat lying veins at the Pit Zone demonstrate good potential to build high grade tonnage.A 60 metre wide gold in soil anomaly has been identified 70 metres north of the Pit Zone, indicating the mineralized zone continues in that direction. Rock SamplesA total of 55 rock samples (52 chips and 3 grabs) were taken at the Pit Zone and surrounding area during the December sampling program with the objective of obtaining representative samples from mineralized quartz veins, evaluating the gold content in wall rocks adjacent to veins, and where possible identifying the limits of the mineralized zone. Gold results from all 55 samples, including unmineralized wall rock, range from 0.01 to 31.76 g/t, averaging 4.37 g/t. In total 69 chip and grab samples have now been taken form the Pit Zone returning an average of 8 g/t gold.The Pit Zone exposes numerous well mineralized quartz veins ranging from 0.25 to 1.5 metres in width and containing gold values ranging from 4.09 to 31.76 g/t gold. At least 6 flat lying stacked mineralized quartz veins are exposed in the pit across a vertical distance of about 25 metres. The flat veins appear to be exploiting a flat lying metamorphic fabric at the nose of a large fold structure. The axial plane of the fold contains a steeply dipping mineralized feeder structure associated with an altered and mineralized intrusive dike that is best exposed at the north end of the pit. The presence of multiple stacked flat veins adjacent to a steeper feeder structures provides a great setting for targeting significant tonnages of high-grade mineralization. Chip sampling indicates that some...