Maiden Programme At Excelsior Demonstrates Good Continuity
Canex Metals Inc. (TSXV-CANX) has received positive assay results from six additional drill holes from the company’s 2021 reverse circulation drilling programme at the Gold Range Project, Arizona.
Highlights
- Hole GR21-45 from the historic Excelsior Mine returned 1.1 g/t gold over 19.8 metres, including 1.8 g/t gold over 10.7 metres.
- Holes GR21-42 and 43 intersected the mineralised zone roughly 150 metres northeast of previously release hole GR21-37 (1.6 g/t gold Au over 35.1 metres), confirming good continuity to the mineralized system over the length tested.
An amended exploration permit has been received allowing the company to conduct a third round of exploratory and expansion drilling at Gold Range.
Results for reverse circulation drill holes GR21-40 to 45 from the company’s 2021 drilling program at the Gold Range project have been received and are presented here.
Holes GR21-40, 41, 44 and 45 all tested the middle portion of the Excelsior area and all holes returned strong mineralization as summarized in table 1. Hole GR21-45 intersected 1.1 g/t gold over 19.8m starting at 29m depth including 1.8 g/t gold over 10.7m.
Holes GR21-42 and 43 were the northern most test of the Excelsior zone and both returned strong mineralization demonstrating the system is open for expansion to the northeast. Due to access constraints both holes GR21-42 and 43 were collared close to the Excelsior Vein and tested a limited portion of the hangingwall of the system.
The maiden drill programme at Excelsior has now demonstrated good continuity and grade in all locations tested and the zone is open for expansion along strike to the northeast, southwest, and at depth.
The Bureau of Land Management (BLM) has approved a permit amendment allowing the company to construct 20 additional drill pads on BLM administered lands, with multiple drill holes allowed from each pad. In addition, the Company now controls two patented claims (private land) where several additional holes are also be planned. Details for the next round of drilling at Gold Range will be announced once they are finalised.
January-February Gold Range Drill Programme
In early 2021 the company successfully completed 34 reverse circulation drill holes across 2.5 km of strike length along the southern portion of the Gold Range Property.
In total 2357.6m were drilled in holes ranging from 38 to 137m deep. Fifteen holes were drilled at the Eldorado Zone to test and expand the company’s previously announced bulk tonnage oxide discovery, five holes tested various targets across the southern part of the property and 14 holes tested the Excelsior Mine area.
To date 31 holes from the 2021 drill program have been received and released and results for an additional three drill holes are pending and will be released as they are received, compiled, and interpreted.
For further information please visit: https://canexmetals.ca/
