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CANEX to Commence District Scale Deep Looking Induced Polarization Survey at the Louise Copper-Gold Porphyry
CALGARY, AB / ACCESS Newswire / May 8, 2025 / CANEX Metals Inc. ("CANEX" or the "Company") is ...
About this update from Mayfair Acquisition Corp.
[{"type":"text","content":"CANEX to Commence District Scale Deep Looking Induced Polarization Survey at the Louise Copper-Gold PorphyryCALGARY, AB / ACCESS Newswire / May 8, 2025 / CANEX Metals Inc. (\"CANEX\" or the \"Company\") is pleased to announce that a deep looking district scale induced polarization (IP) survey will commence around May 15th at the Company's Louise Copper-Gold Porphyry Project in British Columbia. The survey is fully funded via a flow through financing completed in November 2024. This highly anticipated geophysical survey is a key step in evaluating the potential for additional high grade copper-gold porphyry style mineralization in the Louise district.Highlights:The known Louise mineralized system has been delineated across an area 1000 meters long by 400 meters wide and to 300 meters depth and has been truncated at depth by a flat dipping fault. Grades locally increase with depth and the roots of the system have not been identified.The road accessible project contains a historic resource with 924,333 ounces of gold and 658 million pounds of copper in the inferred category plus an additional 183,902 ounces of gold and 132 million pounds of copper in the indicated category1.Louise locally contains very strong grades highlighted by historic hole LL04-3 which returned 158 metres grading 0.41% copper and 0.40 g/t gold from 53.5 metres depth.The deep looking IP survey will cover a 7 kilometre strike length across the district, image up to 1000 metres deep, and will be key to evaluating the exploration potential in untested areas below and lateral to the known copper-gold resource.Dr. Shane Ebert President of the Company stated, \"We are very pleased to have this key geophysical survey proceed as scheduled and are excited at the prospect of being the first exploration Company to conduct a district scale, modern, deep-looking induced polarization survey in the Louise district. Modern IP surveys have contributed to multiple discoveries of copper gold mineralization in British Columbia, including discoveries by Amarc Resources Ltd., American Eagle Gold Corp., and Kaminak Gold Corp. The goal of the Louise IP survey is to identify and then drill test new targets with copper gold signatures that have potential to increase the historical resource base in a transformative way.\"Further details on the Louise Project and the proposed geophysical ...