Business
CARMAX MINING CORP. ANNOUNCES CONSULTING SERVICES RETAINED
Jan. 10, 2011 (TheNewswire.ca) -- Carmax Mining Corp. (TSX-V: CXM)("Carmax") is pleased to a...
About this update from District Copper Corp.
[{"type":"text","content":"\nCARMAX MINING CORP. ANNOUNCES CONSULTING SERVICES RETAINED\n\n\n Jan. 10, 2011 (TheNewswire.ca) -- Carmax Mining Corp. (TSX-V: CXM)(\"Carmax\") is pleased to announce that Hrayr Agnerian, M.Sc., P.Geo has delivered a NI 43-101compliant report dated December 20, 2010 to Carmax (NYSE:KMX) which details the history of exploration on the Company's Eaglehead Cu-Mo project located in the Dease Lake area of the Province of British Columbia, assesses the exploration potential of the property and provides recommendations with respect to the future development of the property.Amongst the assessments and the conclusions arrived at by the author are the following:-The Eaglehead Cu-Mo Project is at an intermediate state of exploration.-Areas of Cu-Mo (Au-Ag) mineralization include metal content in diamond drill holes ranging from 0.07% Cu to 6.5% Cu, 0.001% Mo to 1.5% Mo, 0.001 g/t Au to 7.5 g/t Au and 0.01 g/t Ag to 60.5 g/t Ag, and are associated with moderately southwest to south dipping zones within the Eaglehead Pluton, near the contact with similarly oriented mafic to intermediate volcanic rocks;-Of the 95 diamond drill holes completed by Carmax and earlier operators on the property from the mid -1960's to 2008, 90 holes encountered significant copper and molybdenum mineralization of more than 0.2% Cu over intervals ranging from 3 m to approximately 120 m;-The most favorable area for additional concentrations of copper-molybdenum would be along the southeastern and northwestern extensions of the known structure northeast of the Eaglehead Fault;-There is good potential for the discovery of additional copper-molybdenum mineralization within the Eaglehead mineral claims and further drilling is warranted.In assessing all available data to date Mr. Agnerian confirmed the presence of six separate mineralized zones demonstrating \"good potential\" for porphyry type copper and molybdenum. The Property has been drilled with 95 holes consisting of 24,880 meters of diamond drilling. The zones as identified with the number of holes drilled are as follows:West Zone (2 holes)Camp Zone (14 holes)Pass Zone (21 holes)Bornite Zone (22 holes)East Zone (28 drill holes) andFar East Zone (6 holes)He further states: \"Results of diamond drilling completed to date suggest that the Bornite Zone, East Zone, and Camp Zone target areas of mineralization may be ...