Jul 17 2015
Carmax Mining Corp. ("Carmax") is pleased to announce that crews have arrived to carry out the summer 2015 field program on the Eaglehead property. Work will focus on the Pass zone and consist of re-logging of historical drill core as well as diamond drilling.
The primary objectives of the 2015 program are:
- To integrate all available drill data from prior drilling campaigns into the project database using consistent current logging standards to facilitate lithology, alteration and sulphide species modelling. This program was initiated in 2014 and will be continued in 2015; and
- Drill up to 2 core holes totalling approximately 1200 metres to test historical analytical results from two historical drill holes and test that portion of the chargeability/resistivity signature located by the 2014 Quantec survey in the Pass zone area.
Jevin Werbes President and CEO states "We are very pleased to be back up at the Eaglehead continuing to assemble the historical data into our updated model. With concentration now moving forward into the Pass zone, we look forward to include what we learnt this season into the well-defined data already in place on the Bornite and East zones."
About The Eaglehead Project:
The Eaglehead property hosts an NI 43-101 Inferred Mineral Resource estimated to total 102.5 million tonnes at an average grade of 0.29% Cu, 0.010% Mo and 0.08 g/t Au. (see Carmax news release dated May 16, 2012. The report is filed on Sedar at www.sedar.com. The mineral resource was estimated at a cut-off grade of 0.16% CuEq, to contain approximately 662 million pounds copper, 22 million pounds molybdenum, and 265,000 ounces gold. The Mineral Resource is contained within two conceptual open pits covering the East and Bornite zones.
Metallurgical testing in early 2015 yielded highly encouraging results, with flotation (third cleaner concentrate) testing achieving copper recoveries of 77.1% to 92.7%, with copper concentrate grades from 21.1% to 37.9%.
The Eaglehead copper-molybdenum-gold-silver project (approximately 13,000 hectares (ha)) is located approximately 48 km east of Dease Lake, in northwestern British Columbia. The property hosts a 10 km long mineralized trend that hosts at least 7 zones of porphyry style copper-molybdenum-gold-silver mineralization hosted in potassic and phyllic altered intrusive rocks.
Chris M. Healey, P.Geo., a Director of Carmax, is a qualified person as defined in NI 43-101, and has reviewed and approved the technical information contained in this news release.