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Proactiveinvestors is a leading multimedia news organization, investor portal and events management business with offices in New York, Sydney, Toronto and London. Proactiveinvestors operates five financial websites in four languages providing breaking news, comment and analysis on hundreds of... More
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  • Canamex: Intercepts Show Continuation Of Gold Mineralization At Bruner 0 comments
    Aug 21, 2013 4:00 PM

    Canamex Resources (CVE:CSQ) announced Wednesday the results from additional drill intercepts from its 2013 reverse circulation (RC) drilling program at the Bruner gold project, Nye County, Nevada.

    Results were returned from four holes, B-1317 through B-1320, which were drilled to test the northern extension of the high-grade structure at the Penelas East target.

    Drill hole B-1319 intersected a high-grade structure at 635-640 feet grading 30.7 grams of gold per tonne (g/t) within a wider zone averaging 7.2 (g/t) gold over 9.1 meters between 630-660 feet.

    A re-run on the interval 635-640 feet using gravimetric methods returned 32.9 (g/t) gold, mineralization that has not yet been fully tested as the hole was terminated at 660 feet.

    These intercepts confirm the continuation of significant gold mineralization to the north of previously drilled intercepts at the Penelas East target.

    According to the Vancouver-based explorer, project geologists have not determined the attitude of all of the mineralized intercepts, and therefore cannot determine the true width of any of the reported intercepts at this time.

    "We continue to intersect stockwork gold mineralization in all holes drilled into the Penelas East target. There appears to be a lower grade stockwork zone surrounding the high-grade structure(s), which should allow for considering open pit mining of this gold zone," said president and COO Greg Hahn in a company statement released with the results.

    Meanwhile the RC drilling program has been focused on drilling the southern extension of the Penelas East target area, following up on the high grade intercept in hole B-1301 completed and reported earlier in the year

    Future drilling will test northern and southern extensions to the gold mineralization, as well as further characterize the gold bearing zones.

    September is forecast to bring with it the commencement of a core drilling program for the Bruner project with three core holes planned to drill into the high-grade zones at Penelas East to help refine the geology and attempt to resolve the several possible geological interpretations.

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

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