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Canamex plans further drilling at Bruner, maiden resource expected in Q1

Canamex plans further drilling at Bruner, maiden resource expected in Q1

Canamex Resources (CVE:CSQ)(OTCQX:CNMXF) has unveiled the final core drilling results from its Bruner gold project in Nevada, showcasing the exploration potential of both the historic resource and Penelas East areas at the site, the company said.

At the Penelas East discovery area, core drilling at the northern extension intersected gold across a 51.8 metre interval in the last drill hole of 2014. The hole, B-1454C, intercepted 51.8 metres grading 0.444 grams per tonne (g/t) gold.

The hole is about 37 metres along strike of the previous intercept reported last October, which returned 22.9 metres of 3.29 g/t gold.

The company said further drilling is necessary, and that the area remains open to the north, with follow-up drilling planned for this year to determine whether deeper intercepts can be extended 100 metres northward.

Meanwhile, at the historic resource area of the project, drilling at the  northeast extension returned 32.1 metres of gold grading 0.339 g/t. Canamex said there is "considerable potential" to expand the resource further north, on patented claims.

This will be focus of a proposed drilling program for this year, it added.

"The last drill holes of the 2014 drilling program demonstrate the exploration potential of both the Penelas East and the historic resource area as they remain open to the north," said president Greg Hahn.

"We will propose drilling programs in both resource areas in 2015 to continue to pursue these possible extensions."

In the meantime, the company has delivered its 2014 data to an independent engineer who is in the process of preparing a resource estimate for the property, with results of the maiden report expected in the first quarter of this year.

Canamex shares closed at 14.5 cents on Wednesday. The stock has more than doubled over the last year.

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January 08 2018

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