Exploration Permits For Gold Range Property Received, Trenching To Commence

 

CALGARY, AB - CANEX Metals Inc. has received all required exploration permits for the Company's Gold Range property in Arizona. A trenching and surface exploration program will commence on the property in one week.

Limited early stage work at Gold Range conducted by the Company between May and August of this year has identified multiple gold targets on the property. Previously disclosed results from this work include chip samples across a 5 meter wide quartz vein which returned 8.47 g/t gold over 5.6 metres, including 28.1 g/t gold over 1 meter along with multiple gold bearing grab samples returning up to 31.2 g/t gold. This mineralization is part of a mineralized quartz vein and shear zone that has been traced for over 1000 metres to date, but overall remains poorly exposed.

The upcoming exploration will include excavator trenching, surface rock and soil sampling, and geologic mapping. The focus of the program will be to better define and sample known mineralized zones across their entire width and explore them along strike. A key goal of the program is to understand controls on high grade gold mineralization and learn more about the width, grade, and continuity of mineralization.

The exploration permit allows for 10 trenches, 1000 metres of drilling in up 18 drill holes, along with 650 metres of road construction to access trenches and drill pads. The Company will start with the planned trenching and surface exploration program and follow up with geophysical surveys and drilling as appropriate.

The company’s address is #815, 808-4th Avenue SW, Calgary, AB T2P 3E8, (403) 233-2636, www.canexmetals.ca.