Silverton Gold Exploration and Bruner Gold Development Projects - Updates
(TheNewswire)
Vancouver, British Columbia / The Newswire / December 20th, 2017 – Canamex Gold Corp. (the “Company”) (TSX-V: CSQ) (OTCBB: CNMXF) (FSE: CX6) is pleased to provide an update on progress at the Silverton Gold Exploration and Bruner Gold Development Projects, located in Nye County, Nevada.
Silverton Gold Exploration Project - Additional Claims and Data Review
The Company has staked an additional seven (7) unpatented lode mining claims covering 140 acres on the southwest corner of the existing claim block, to protect extensions to mineralization that is evident from initial inspection of gold-in-rock geochemical results from the recently acquired project data base. Over 25 rock samples containing between 0.100 gpt and 1.75 gpt gold were collected from strongly silicified and brecciated dolomite outcrops over an area 300 meters long by 100 meters wide containing old prospect pits and shallow underground workings in brecciated and iron-stained dolomite. Only one historic RC drill hole was drilled near these outcrops, and it was drilled west of the outcrops of dolomite. That hole was intended to test a concept that the dolomites dipped westward beneath the collar location of the hole, but an obvious fault separates the mineralized dolomites from the drill hole location, and explains why the hole did not intersect any dolomite where anticipated. This entire target area remains untested by drilling.
In addition, the rock geochemical data base recently acquired shows numerous other anomalous areas with gold values from 1.0 to 16.13 gpt Au (0.47 opt Au) in brecciated dolomites in the central and northern portions of the claim block, that are surrounded by numerous samples in the 0.10-1.0 gpt Au range, and that also have never been tested by drilling. These areas represent several priority exploration targets that have never been drilled, where the Company will undertake detailed mapping and sampling this coming spring, with the objective of defining a drilling program to test the best of these targets during 2018.
Bruner Gold Development Project - PEA Update
The updated PEA on the Bruner gold project located in Nye County, Nevada is nearing completion. The updated resources have been completed, the preliminary pit designs and mine plan and production schedule has been finalized, capital and operating costs have been updated, and the cash flow model is currently being reviewed. Management will thoroughly review the draft results of the updated PEA, and given the upcoming Holidays, will likely report the results of the updated PEA in early January 2018. The NI43-101 Technical Report will follow within 45 days following the announcement of the results of the new PEA.
Bruner Gold Development Project - Water Well
Harris Exploration Drilling has commenced drilling of a water well on the access road into the Bruner gold project where the Company has obtained a water right for up to 350 gallons per minute (gpm) water for drilling fluid and future mineral processing. Harris has set and cemented the 13” conductor casing to 60 feet and is currently at 200 feet depth on the 12” hole, with a target depth of 500-750 feet. The Nevada Division of Water Resources has extended the water right application through December 2018 to allow for completion of this well.
About the Company
Canamex Gold Corp. (TSX-V: CSQ) (OTCBB: CNMXF) (FSE: CX6) is engaged in fast-tracking toward development of the Bruner Gold Project in the prolific gold jurisdiction of Nye County, Nevada. The region is home to several producing and past-producing mines along the Walker Lane Trend. Canamex completed a positive Preliminary Economic Assessment (PEA) on the Bruner Gold Project in April 2016. Based on additional drilling conducted on the property, the company has commissioned a new PEA and resource estimate, expected to be completed before the end of 2017. The second asset is the Silverton Gold property, which is a gold exploration project, in Nevada, which has geological similarities to the Long Canyon gold deposit in Nevada, being mined by Newmont Mining. Canamex has signed Agreements with Harmonychain AS, for Ethereum Blockchain Smart Contract Tokens for Gold and Silver, as an alternative means of raising capital, potentially without equity dilution. The Agreements secure the exclusive rights to 6 (Six) Ethereum Token domain names, ticker codes, and associated smart contracts, for Gold and Silver, if any of them have been successfully completed by 31st December 2018. Please stay in touch with our website for updated images and information at http://canamexgold.com
Greg Hahn (CPG#7122), President & COO of the Company is the qualified person who has reviewed and approved all technical disclosures in this release.
ON BEHALF OF THE BOARD
David Vincent
Chief Executive Officer and Director
Mike Stark
Chairman of the Board
Contact: (604) 833-4278
mike.stark@canamexgold.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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