Mr. Gregory Hahn reports
CANAMEX UPDATES BRUNER GOLD PROJECT, NYE COUNTY, NEVADA
Canamex Resources Corp.'s five outstanding reverse circulation (RC) drill holes at Bruner (B-1202 to B-1206) intersected significant disseminated gold mineralization associated with stockwork quartz veins within a silicified vuggy rhyolite.
"We made a new discovery with drill hole B-1201, having nailed with that hole what we believe is a new deposit," stated chairman and chief executive officer Greg Hahn. "We drilled holes B-1202 to B-1206 in the two weeks following completion of discovery drill hole B-1201, prior to the company receiving results from the first hole, to test a different target, yet we appear to have kissed the edges of a large system and the significantly higher-grade discovery made in B-1201 with these subsequent five holes. Based on the stellar results of B-1201, we have contracted for the immediate return of a drill rig to Bruner," continued Mr. Hahn.
BRUNER RC DRILLING -- JUNE/JULY, 2012
Hole Interval (ft) Width (ft) Au (ounces per ton) Au (g/t)
B-1202 120-140 20 0.037 1.26
275-290 15 0.033 1.03
335-390 55 0.015 0.51
490-570 80 0.017 0.59
B-1203 285-315 30 0.014 0.48
360-400 40 0.019 0.66
550-615 65 0.016 0.54
B-1204 320-430 110 0.027 0.94
465-480 15 0.015 0.53
585-640 55 0.012 0.40
B-1205 365-375 10 0.016 0.53
440-455 15 0.010 0.35
590-605 15 0.015 0.52
B-1206 620-835 215 0.010 0.36
Incl. 620-660 40 0.032 1.10
The geologic and assay sections of all drill holes from the June/July, 2012, drilling program are posted to the company's website, along with a 3-D model of the mineralization intersected and the target remaining to be tested.
The results indicate the drill holes intersected the upper part of a stockwork silica plus gold epithermal system, geologically above the primary level of gold mineralization that was intersected in drill hole B-1201. The rapid change in width and grade in intercepts within drill holes on section with B-1201 indicates a very quick transition downward from narrow and low grades to wider and higher grades within tens to 100 feet between B-1201 and adjacent holes. The increased width and grade between holes B-1203 and B-1204, and between B-1205 and B-1206, which are only tens of feet apart but on the same azimuths, confirm this interpretation of rapidly increasing gold mineralization with depth. The company did not drill a hole beneath drill hole B-1202, so the vector of increasing grade with depth remains to be tested beneath drill hole B-1202. Nor has the company drilled beneath the discovery intercept in B-1201, however, that will be the immediate focus of the September, 2012, RC drill program.
Drill samples were transported by a third party consultant from the drill rig and stored in a locked storage unit, and retrieved by ALS-Chemex personnel, transported in their custody to the ALS-Chemex laboratory in Reno/Sparks, Nev., where they were dried, crushed and split, and representative splits sent to the ALS-Chemex laboratory in Vancouver for gold and silver analyses. Duplicates, blanks and standards were inserted at regular intervals for quality assurance/quality control purposes.
Bruner core drilling -- August, 2012
The company has contracted DOSECC Exploration Services LLC of Salt Lake City, Utah, to drill a core hole at Bruner. The drill arrived on site yesterday, and core drilling commenced today. The core hole is designed to twin the RC discovery drill hole B-1201 in order to get a complete view of the 118 metres of 4.08 grams per tonne (g/t) gold (Au) (360 feet of 0.119 ounce per ton Au) interval encountered in that hole and announced July 18, 2012. Mineralization in B-1201 is characterized by silicification, silica veinlets and brecciation, as deduced from microscopic examination of drill cuttings. The primary purpose of the core hole is to provide a complete sample interval of the mineralized zone for inspection and documentation of these features and their orientation. The results of logging of the core hole are expected to allow refinement of the next phase of RC drilling at Bruner, which is scheduled to commence no later than mid-September.
Bruner RC drilling -- September, 2012
A further RC drilling program is planned to commence in mid-September at Bruner to follow up the open extensions of the intercept in discovery drill hole B-1201. The first several holes will be drilled at minus 60 degrees, minus 75 degrees and minus 90 degrees beneath the intercept in B-1201, which was drilled at minus 50 degrees, along the same azimuth as B-1201, to test the continuation of the intercept in B-1201 with depth. Hole traces across the expected mineralized zone will be 100 feet to 150 feet apart. A total of 16 RC holes are planned to depths of between 700 feet to 800 feet to test peripheral to the intercept encountered in B-1201 at elevations of 6,200 feet to 5,800 feet, which is believed to be the level of major fluid boiling and deposition of gold during mineralization at the East Penelas target area.
Mr. Hahn commented:
"We are excited to embark on this follow-up drilling program to test the area surrounding discovery drill hole B-1201. There are only a very few historic drill holes that exist in the one mile of distance between discovery hole B-1201 and the historic resource area to the west. As we flesh out the dimensions of the discovery in drill hole B-1201 and understand the host geology, we hope to be able to apply that information to fully test the one mile of intervening ground between the historic resource area and drill hole B-1201. Our current model for the property identifies this area as the most prospective corridor on the property."
Mr. Hahn, certified professional geologist (No. 7122), is the qalified person who has prepared and reviewed this press release in accordance with National Instrument 43-101 reporting standards.
We seek Safe Harbor.
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