Continues To Build On Gold Range Project In Arizona
Canex Metals Inc. (TSXV:CANX) has received positive assay from an additional seven drill holes from the company’s 2021 reverse circulation drilling programme at the Gold Range Project in Arizona.
Highlight hole GR21-37 from the historic Excelsior Mine returned 1.6 g/t gold over 35.1m starting from surface, including 2.2 g/t gold over 24.4m.
President, Dr Shane Ebert, said this is the best hole drilled on the property to date and is considered high grade for a bulk tonnage target.
The hole also returned high grade intercepts of 4.4 g/t gold over 10.7m, including 8.2 g/t gold over 4.6 metres.
Hole GR21-36 returned 1.1 g/t gold over 19.8 metres, including 6.9 g/t gold over 1.5m.
Hole GR21-38 returned 1.2 g/t gold over 18.3m within a larger interval grading 0.8 g/t gold over 27.4 metres.
Dr Ebert said the mineralisation intersected at Excelsior is one kilometre from the historic Malco Mine and 2.7 km from the initially drill tested Eldorado, with all three areas occurring along a district scale mineralized structure that remains open for expansion.
“We are delighted to see the initial drill results from the Excelsior zone return very strong gold grades with the zone remaining open in all directions,” Dr Ebert said.
“These grades and widths highlight the potential of the Gold Range property and the success our team is having targeting and defining zones of near surface, oxidized, bulk tonnage style gold mineralisation.
“Drilling to date has confirmed a three kilometre long mineralised target zone extending from the Eldorado to the Excelsior areas, and this target is gold bearing in every place we have drill tested it so far, suggesting sizable gold resource potential.
“We are currently planning additional surface exploration work on the recently acquired Excelsior Mine Property to further refine drill targets along the mineralised trend with a goal of resuming drill testing as soon as a drill is available.”
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 2357.6 metres were drilled in holes ranging from 38m 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 25 holes from the 2021 drill programme have been received and released and results for an additional nine drill holes are pending and will be released as they are received, compiled, and interpreted.
For more information visit https://canexmetals.ca/
