May 7 2014
Canamex Resources Corp. provides the following update on the Bruner Gold Project, Nye County, Nevada.
Core Drilling at Historic Resource Area
Core drilling continues at the main mineralized zone of the historic resource area. Core holes B-1302C, B-1303C, B-1304C, and B-1306C have been completed, and B-1308C is in progress. Assay results for these five core holes will be reported as a unit, so the results may be placed in an appropriate geological context. Mineralized intervals consist of strongly silicified rock surrounded and cut by clay and limonite filled fractures and breccias. Based upon observations underground and drill results to date, we believe these features host the gold at the historic resource area.
Core Drilling at Penelas East Discovery Area
Once B-1308C has been completed the core drill will mobilize to the Penelas East discovery area and a core hole will be drilled to offset a significant intercept of gold in volcanic breccia encountered in the last hole at Penelas East in 2013. B-1341C intersected 79.9 metres of 1.509 gpt gold (262 feet of 0.044 opt gold) (see Canamex News Release dated December 4, 2013).
Reverse Circulation ("RC") Drilling at Penelas East
A Foremost Prospector RC drill rig arrived on the property April 16, 2014 and began drill testing the prominent VLF-EM (Very Low Frequency and Electron Magnetic) geophysical anomalies which are coincident with gold-in-soil anomalies. These anomalies may be extensions of the prominent VLF-EM current density anomaly that is coincident with the 38 gold-bearing drill hole intercepts completed in 2012-2103 at the Penelas East discovery area (see Canamex News Release dated October 25, 2013). To date three RC holes have been completed with the objective of evaluating two of the five untested VLF-EM anomalies. Silicified and clay altered rocks have been encountered in all three holes completed to date, which matches the modelled interpretation of the VLF-EM targets. Assay results are pending on all of the drill holes.
Drilling Plans Going Forward
Once core drilling is completed at the historic resource area the RC rig will be moved into the area and drilling will continue to define the geometry and grade of the main mineralized zone. Further RC drilling of the VLF-EM anomalies at Penelas East will be determined once assay results from the holes completed to date have been received and interpreted.
Foremost Prospector RC Drill Rig
The Foremost Prospector drill rig is incredibly versatile and has a rotating table on which the mast is situated, and allows for the ability to drill multiple azimuths and inclinations from a single set up without having to physically move the drill rig. This is an advantage in reducing the surface disturbance associated with exploration drilling in complying with our limited surface disturbance allowable under our Notice of Intent with the Bureau of Land Management. It is also an advantage given the tight drill sites we have available to us in steep terrain in the historic resource area on the Bruner property.