TMLonggun
10 years ago
Hecla Increases Interest in Canamex Resources Corp.
COEUR D’ALENE, Idaho, Sep 30, 2014 (BUSINESS WIRE) -- Hecla Mining Company (NYSE:HL) announced today that a wholly owned subsidiary of Hecla has entered into a subscription agreement pursuant to which it has agreed to acquire 3,095,238 units of Canamex Resources Corp. (“Canamex”). Each unit is comprised of one common share and one-half of a common share purchase warrant ()Units”). Each common share purchase warrant is exercisable for a period of two years from the date of issuance at a price of $0.30 per share. The 3,095,238 common shares comprised in the Units to be acquired by Hecla Canada represent 2.4% of the outstanding common shares of Canamex upon completion of the private placement to Hecla (which itself will form part of a larger private placement which will be completed concurrently). The 1,547,619 common share purchase warrants comprised in the Units to be acquired by Hecla represent 42.6% of the common share purchase warrants to be issued by Canamex as part of the larger private placement. The Units will be issued to Hecla at a price of $0.21 per Unit for total gross proceeds to Canamex from Hecla of $650,000.
With the completion of the transactions contemplated by the subscription agreement referred to above, Hecla will exercise control over 17,237,149 common shares representing 13.3% of the outstanding common shares of Canamex and 1,547,619 common share purchase warrants. Assuming the exercise of only those common share purchase warrants held by Hecla, Hecla would exercise control over 18,784,768 common shares of Canamex or 14.4% of Canamex’s common shares.
The ancillary rights agreement (the “Ancillary Rights Agreement”) between Hecla and Canamex dated November 21, 2012, continues in effect. Pursuant to the Ancillary Rights Agreement, for so long as Hecla holds more than a 10% interest in Canamex (calculated in accordance with that agreement), Hecla has: (a) a right to nominate one person to Canamex’s board of directors, (b) a right to nominate one person to Canamex’s technical committee, and (c) a pre-emptive right to participate in any future proposed equity offering of Canamex in order to maintain its pro rata interest.
The common shares and common share purchase warrants comprised in the Units will be acquired for investment purposes by Hecla. Hecla does not have any present intention to acquire ownership of, or control over, additional securities of Canamex. It is the intention of Hecla to evaluate its investment in Canamex on a continuing basis and such holdings may be increased or decreased in the future.
In completing this investment Hecla is relying on Subsection 2.3(1) of Canadian National Instrument 45-106 – Prospectus and Registration Exemptions as Hecla is an accredited investor. For the purposes of Canadian National Instrument 62-103, the address of Hecla is 6500 N. Mineral Drive, Suite 200, Coeur d’Alene, Idaho, 83815, USA.
RobertJames
12 years ago
Canamex (CSQ.V) Intersects 91 Meters of 3.1 G/Tonne Gold (300 Feet of 0.090 Oz/Ton) Including 1.5 Meters of 117 GPT Au (5 Feet of 3.402 OPT) at Bruner Gold Project, Nevada
VANCOUVER, BRITISH COLUMBIA--(Marketwired - April 23, 2013) - Canamex Resources Corp. (TSX VENTURE:CSQ)(OTCQX:CNMXF)(FRANKFURT:CX6) is very pleased to announce the assay results of the first and second drill holes of the 2013 drilling program at the Penelas East target area on the Bruner Gold Project, Nye, County, Nevada.
Drill hole B-1301 intersected 91.4 meters of 3.1 gpt (300 feet grading 0.090 opt) Au between 290-590 feet, including 5 feet grading 117 gpt (3.402 opt) Au and 396 gpt (11.55 opt) silver between 415-420 feet, in what is believed to be the second best intercept ever drilled on the Bruner property. The intercept in drill hole B-1301 is located approximately 55 meters (180 feet) south of the discovery hole B-1201 reported last year which contained 110 meters of 4.08 gpt (360 feet grading 0.119 opt) Au between 290-650 feet. In addition, drill hole B-1301 intersected two thinner and lower grade zones further down the hole at 660-695 feet grading 1.507 gpt (0.044 opt) Au and 750-780 feet grading 0.474 gpt (0.014 opt) Au.
Drill holes B-1301 and B-1201 are very similar in character with a high-grade core almost centered on an extensive and robust lower grade halo surrounding the high-grade core. Importantly, drill hole B-1301 is on the southern end of the drilling pattern completed to date at the Penelas East target area, and the wide zone of mineralization with a central high-grade core remains open to the south. Mineralization at this depth could be accessible by open pit.
Drill hole B-1302 (N95E azimuth and -75 degree inclination) was designed to intersect the mineralized zone 60 meters (200 feet) below that in B-1301 (N95E azimuth and -60 degree inclination) and intersected 16.8 meters (55 feet) grading 1.563 gpt (0.046 opt) Au from 640-695 feet. At this point we do not know if this intercept is the down-dip equivalent of the thicker high-grade zone encountered in B-1301 or whether the target dips to the east and thus out of reach of drill hole B-1302.
The mineralized zone appears to be steeply dipping but of unknown true width. The drill intercepts are summarized in the following table, and the complete table of results appears at the end of this release.
Highlights of Drill Hole B-1301
Hole
From (ft)
To (ft)
Thickness (ft)
Au grade g/tonne
Au grade oz/ton
B-1301
290
590
300
3.10
0.090
including:
415
420
5
117.00
3.402
All intercepts greater than 3 gpt (0.09 opt) Au are being re-assayed from a 1 kilogram split from the coarse rejects and pulverized entirely to -200 mesh to assess the presence of particulate gold in the higher grade intercepts.
12 Hole 2013 Spring Drilling Program at Penelas East
A total of twelve holes are planned for the Penelas East target area in the first half of 2013 to obtain a better understanding of the geometry and orientation of the mineralized zone, which is not exposed at the surface, being beneath 30 feet of alluvial cover and several hundred feet of mostly unmineralized flow-banded rhyolite, the latter of which appears to have formed an effective cap on the hydrothermal system. Results from these holes will be announced as they are received and analyzed and are expected to be released on a section-by-section basis going forward.
Quality Control
Drill samples were stored in a locked storage unit and retrieved by ALS-Chemex personnel, transported in their custody to the ALS-Chemex laboratory in Reno/Sparks, Nevada, 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 QA/QC purposes.
Greg Hahn, Certified Professional Geologist (#7122) is the Qualified Person who has prepared and reviewed this press release in accordance with NI 43-101 reporting standards.
RobertJames
12 years ago
Canamex Announces (CSQ.V) Positive Cyanide Leach Test Results From the Bruner Gold Project, Nye County, Nevada
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Mar 19, 2013) - Canamex Resources Corp. (the "Company") (TSX VENTURE:CSQ)(OTCQX:CNMXF)(FRANKFURT:CX6) is pleased to announce the results of bottle roll cyanide leach tests on composite coarse reject drill cuttings from two drill holes from the 2012 exploration drilling program on the Penelas East discovery area at the Bruner gold project, Nye County, Nevada.
Bottle Roll Cyanide Leach Test Results
Bottle roll cyanide leach tests returned an average of 97% gold extraction from 21 composites from drill holes B-1201 and B-1207C from the Penelas East discovery area on coarse rejects ground to 80% passing 200 mesh screen size. These tests were run to assess the cyanide solubility from two holes which demonstrated a wide range of grades and vertical extent of gold mineralization within two distinctly different rock types. The positive results indicate that there is no material difference in gold solubility in samples ranging from less than 200 feet below the surface to samples from greater than 500 feet below the surface, no difference in gold solubility between head grades from 0.01 opt Au (0.34 g/t) to 0.64 opt Au (21.94 g/t), and no difference in solubility between gold hosted in strongly silicified quartz rhyolite and partially silicified / argillized volcanic agglomerate. Gold grade of all 21 composites averaged 0.0956 opt Au (3.28 g/t). Leach residue ("tailings") retained on average only 0.001 opt Au (0.034 g/t), ranging from 0.0005 opt Au (0.017 g/t) to 0.0027 opt Au (0.093 g/t), indicating that essentially all of the gold was soluble in cyanide. Although the bottle roll tests were run for 96 hours, almost all of the gold was leached in 24 to 48 hours. Cyanide consumption was very low in all of the bottle roll tests. Silver solubility was encouraging, with an average silver cyanide solubility of 79% at an average head grade of 0.19 opt (6.5 g/t) Ag. Silver is not a strong economic driver at the Bruner project, but these silver extractions bode well for silver contributing to the economics of the project, even at low silver grades.
"We are very encouraged by these metallurgical test results" exclaimed Greg Hahn, President & COO. "These results support the observations of consulting geologist Don White, in his report on logging of core hole B-1207C that the gold-bearing event appears to accompany last-stage fracture filling and to be the latest event at the Penelas East, post-dating at least five previous periods of silica veining or flooding. Thus the gold does not appear to be encapsulated in silica" continued Hahn. "Further, the gold extractions in bottle roll tests from Penelas East are indistinguishable from those performed on the bulk sample from the historic resource area, which returned +85% gold extractions in column leach tests, which bodes well for future column leach tests on the Penelas East discovery area" concluded Hahn.
To view "Bottle Roll Test Results - Gold", please click the following link: http://www.canamex.us/wp-content/uploads/2013/03/Bottle-Roll-Test-Results-Gold.jpg.
To view "Bottle Roll Test Results - Silver", please click the following link: http://www.canamex.us/wp-content/uploads/2013/03/Bottle-Roll-Test-Results-Silver.jpg.
Metallic screen analyses performed on seven of the highest grade composite samples indicate high variance with standard head grade analyses but good correlation with calculated head grades from cyanide leach results, indicating the presence of particulate gold. However the test results indicate the particulate gold is all soluble in cyanide, indicating it must be relatively fine-grained.
The Company plans on performing further bottle roll tests to continue to quantify the metallurgical characteristics of the gold-bearing material at the Bruner project.
All of the test work referenced herein was performed by Kappes, Cassidy & Associates ("KCA") metallurgical laboratory located in Reno, Nevada, and summarized in a report from KCA dated March 2013. KCA is a world-renowned metallurgical testing laboratory specializing in cyanide leach processing.
Greg Hahn, President & COO and a Certified Professional Geologist (#7122) is the qualified person under N I 43-101 ("NI 43-101") responsible for preparing and reviewing the data, and for reviewing and approving all other scientific and technical information, contained in this press release.
In an unrelated matter, Herb Duerr has resigned from the Board of Directors to pursue other business interests. Mr. Duerr has agreed to remain available for the balance of the year to answer any questions relating to Bruner that may arise. "We thank Herb for his years of service to Canamex, and wish him well in his future endeavors," stated Company Chairman and CEO Robert Kramer.
ON BEHALF OF THE BOARD
Robert Kramer, Chairman and CEO
RobertJames
12 years ago
Canamex (CSQ.V) Announces Commencement of RC Drill Program at the Bruner Gold Project, Nye County, Nevada
VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 11, 2013) - Canamex Resources Corp. (TSX VENTURE:CSQ)(OTCQX:CNMFX)(FRANKFURT:CX6) ("Canamex" or the "Company") announces that it has signed a contract with AK Drilling of Butte, Montana for 22,000 feet (+6,700 meters) of reverse circulation ("RC") drilling at its Bruner Gold project located in central Nevada, approximately 200 kilometers east - southeast of Reno. Drilling is expected to commence on or about March 15, 2013, and continue through June 2013. Additional drilling of at least a similar amount during the second half of 2013 is anticipated, although details on that drilling will be dependent upon, in part, the drilling results received from the first half of 2013.
Canamex can earn a 70% interest in the Bruner project by expending $6 million before May 2017, and an additional 5% by completing a bankable feasibility study (News Release dated October 15, 2010). Canamex currently has sufficient cash to complete the contracted drilling program for the first half of 2013.
Drilling to Commence on the Northern Extension of the Historic Resource Area
Drilling will commence on the west side of the property on the northern extension of the historic resource area*. The gold-in-soil anomaly that defines the area of the historic resource continues over 600 feet (~200 meters) to the north of the area that was drilled extensively by Newmont, Miramar, Kennecott, and others in the 1980s and 1990s. The area includes 32 rock chip samples taken by Newmont Exploration, Inc., with values ranging from .03 g/t to 50.3 g/t Au. The Company has no reason to doubt the veracity of the map dated November 1989 which contains these data.
This area has seen little drilling, and is characterized by strong silica-adularia alteration and some brecciation along north-trending structures that appear to be the extension of the gold-bearing structures that host the feeder zones of the historic resource area. A total of 16 holes from four sites are planned in this area to test this northern extension to the historic resource area. If successful, additional drilling in this area will be proposed for the second half of the year.
Column leach tests on bulk samples from underground workings in the historic resource area performed by Canamex in 2012 (News Release dated September 12, 2012) returned excellent gold extractions of +85% in only 83 days at both -3/4 inch and -3 inch crush sizes, which supports advancing exploration on the property aggressively towards the preparation of a National Instrument 43-101 ("NI 43-101") mineral resource report and, if warranted by the results of that report, a follow-on preliminary economic assessment in order to quantify the economics of any such mineral resource.
Penelas East Discovery Area Drilling to Follow
Following the first stage of drilling on the west side of the property discussed above, the drill will proceed to the east side of the property and the Penelas East discovery area, after the snow cover there has melted, to continue drilling the open extension to both the north and south of the new deposit discovered in 2012, where 19 out of 20 holes intersected mineralization averaging 158 feet grading 0.041 opt (1.41 g/t) Au, including discovery hole B-1201 which returned 360 feet grading 0.119 opt (4.08 g/t) Au (see News Release dated January 30, 2013 for full details).
Metallurgical Test Work Underway - Results Expected Shortly
Towards this goal, metallurgical test work is already underway on drill samples from the Penelas East discovery deposit area. Those metallurgical test results are expected shortly, and will be announced when received. The Penelas East target area is over 600 meters long and contains several gold intercepts in shallow holes completed by Newmont, Miramar and others well north of the current proposed drilling program, which could extend the mineralized zone beyond the strike length that will be drilled by the end of this next round of drilling.
Canamex President and COO Greg Hahn Comments
"We are excited to resume drilling on the Bruner gold project, after a severe snowstorm ran us out of the project in mid-December 2012, and we look forward to drilling the project throughout 2013 to be able to establish an initial NI 43-101 mineral resource on the Bruner project after this next year of drilling," states Greg Hahn, President and COO. "Our expectations are high that we will have a very attractive gold + silver deposit to bring to the market in 2014, after completion of drilling in 2013," Hahn concluded.
* The historic resource area refers to an area on the Bruner property that was the subject of a historical resource estimate reported on the property not in compliance with NI 43-101 standards. A qualified person (within the meaning of NI 43-101) has not done sufficient work to classify the historical estimate as current mineral resources or mineral reserves, and the Company is not treating the historical estimate as current mineral resources or mineral reserves. The historical estimate is relevant solely for purposes of directing target areas for the Company's current exploration programs.
RobertJames
12 years ago
Canamex (CSQ.V) Shares Issued Pursuant to Aranka North Property Option Agreement
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 4, 2013) - Canamex Resources Corp. ("Canamex" or the "Company") (TSX VENTURE:CSQ)(OTCQX:CNMXF)(FRANKFURT:CX6) announces that on February 1, 2013 a total of 1,250,000 common shares were issued to GMV Minerals Inc. ("GMV") in accordance with an Option and Joint Venture Agreement (the "Agreement") that was accepted for filing by the TSX Venture Exchange on August 2, 2011 (refer to News Release dated July 6, 2011). These shares, representing the second of three staged issuances of shares that are required to be made pursuant to the Agreement, are subject to a hold period expiring on June 2, 2013.
Canamex, through its wholly-owned subsidiary Canamex Guyana Inc., was granted an option to acquire up to a 100% interest in the Aranka North property by making cash payments to GMV totaling US$520,628 (the final payment of US$183,348 is due on August 2, 2013), expending US$1,000,000 in exploration work on the property before December 31, 2013 (the Company has expended over US$1 million, so the expenditure obligation has been met), and issuing a total of 3,750,000 shares to GMV (the final 1,000,000 share issuance is due on August 2, 2014).
The Aranka North land package contains nominally 98,000 acres in a highly prospective gold region in Guyana, South America. Aranka North lies to the northeast of the major gold discoveries by Guyana Goldfields Inc. at Aurora and Aranka/Sulphur Rose. The Company has identified two prominent gold-in-soil anomalies on the Ridge Anomaly which is located within the Aranka North property, and is conducting a 120-hole power auger drilling program on 100-meter spacing which is expected to be completed by the end of February, with all results anticipated to be in by the end of March.
ON BEHALF OF THE BOARD
Robert Kramer, Chairman and CEO
RobertJames
12 years ago
Canamex Announces 2012 Drilling Results and 2013 Exploration Plans for Bruner Gold Project, Nye County, Nevada
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 30, 2013) - Canamex Resources Corp. ("Canamex" or the "Company") (TSX VENTURE:CSQ)(OTCQX:CNMXF)(FRANKFURT:CX6) is pleased to announce 2012 drill results and 2013 exploration plans for the Bruner gold project, Nye County, Nevada.
Penelas East New Discovery Area: Highlights
Canamex completed eleven reverse circulation ("RC") holes and one core hole at the Penelas East new discovery area during the fourth quarter of 2012. Eleven of the twelve holes intersected significant thicknesses of gold grading +0.34 gpt (+0.01 opt) Au over potentially minable widths along a length of 180 meters of strike, and across widths of up to +100 meters (see following Summary Table). All totaled in 2012, twenty holes were drilled into the new Penelas East discovery area, wherein nineteen of the holes hit mineralization with an average overall thickness of 48.2 meters (158 feet) averaging 1.4 gpt (0.041 opt) Au. The gold-bearing zone remains open both to the north of section 540mN and to the south of section 380mN, and these extensions will be the focus of continued drilling in the spring of 2013 when the snow comes off the ground.
Two historic drill holes immediately north of the area drilled in 2012 intersected 15.2 meters (50 feet) grading 6.14 gpt (0.179 opt) Au in BRU-105 and 29 meters (95 feet) grading 1.95 gpt (0.057 opt) Au in BRU-085, which we now interpret as the upper extension of the Penelas East new discovery area and which we intend to test in 2013 at lower elevations of 6300-6000 feet, which is believed to be the major boiling zone and where the best gold intercepts have been encountered to date.
Penelas East New Discovery Area: Interpretation
Gold and silver mineralization is associated with brecciated and silicified rhyolite porphyry within a large rhyolite porphyry flow-dome complex. Some of the gold-bearing breccias are vertically oriented, some appear to follow flow foliation within the rhyolite, which dips dominantly to the northeast, and some appear to follow faults and structures of various orientations that are associated with northwest-trending normal and strike-slip faults that cross the property. The network of mineralized breccias in general follow a northerly trend defined by an eastern bounding fault which is intruded by late-stage mafic dikes, and parallel to sub-parallel structures that appear to have been preferable hosts for the emplacement of breccias and gold mineralization. Gold mineralization can be followed from near the surface to depths in excess of 180 meters (~600 feet). All gold-bearing mineralization is oxidized to the penetration depth of the drill holes, which in some holes exceeds +200 meters (~700 vertical feet).
The gold bearing zone appears to be capped by a flow-banded phase of the rhyolite porphyry, which in places is argillized and unmineralized, except along narrow high-angle silicified breccia zones which lead downward into wider breccia zones that are variably mineralized. Outcrops of silicified and brecciated flow-banded rhyolite continue north of the area drilled to date for another several hundred meters, and suggest continuity of mineralization at depth that remains to be tested with additional drilling in 2013. Further to the north widely spaced shallow drilling by Newmont and Miramar intersected gold-bearing stockwork silica and brecciated rhyolite near the bottoms of the shallow holes which suggest the entire mineral system could continue beyond the area of silicified and brecciated outcrops for another several hundred meters. All together this mineral system appears to be over 600 meters long, one hundred meters wide, and intersected over a vertical range of up to 200 meters.
President and COO Greg Hahn Comments
"We are excited to have tapped into what appears to be a large and robust gold bearing mineral system, and look forward to continued drilling along the open extensions to the system that has been defined to date," stated President and COO Greg Hahn.
Bruner Gold Project: H1 2013 Drilling Program
The Company's Technical Advisory Committee met last week and has recommended to the Board of Directors a 6,700 meters (22,000 feet) RC drilling program for the first half of 2013 to be split roughly evenly between the new discovery area drilled in 2012 (the area referenced above) and the northern extension to the historic resource area. Historic work by Morrison-Knudsen, Miramar, Glamis, Newmont, Kennecott and others identified a low grade resource near the southwest portion of the property. The work by Newmont, Kennecott and Miramar was summarized in a report by John Schilling in 1991. The resource section of the report identifies approximately 383,000 ounces (15 million tons at 0.026 opt) of gold within the July-Duluth area of the project. This is not a NI 43-101 defined resource and a qualified person has not done sufficient work to classify the historical estimate as current mineral resources or mineral reserves, and Canamex is not treating the historical estimate as current mineral resources or mineral reserves. The Company identifies this as the historic resource area.
Recently acquired rock and soil sampling over the historic resource area completed by Newmont shows a gold anomalous area roughly 100 meters wide by 200 meters long the contains samples up to +50 gpt Au and which has not been drilled. Combined, these two target areas could add significantly to the mineral inventory at the Bruner property. Also, an area roughly 100 meters by 100 meters located to the east of the historic resource area contains highly anomalous gold in soils and rock chips and which contains no drill holes. This area will be a focus of detailed geologic mapping and follow-up sampling in anticipation of drilling in the second half of the year.
Bruner Vein Target Area
The newly defined Bruner vein target area is approximately 1.5 kilometers north of the Penelas East new discovery area. During Q4 of 2012, Chief Geologist Dr. Ellen Leavitt took rock chip samples from this newly defined area of interest which returned up to +5 gpt Au. Based on an historic rock geochem map obtained in H2 2012, the Company has determined that historic rock chip samples have returned over 7 gpt Au in an area on the property near the Bruner Vein that has seen absolutely no follow-up mapping or sampling since the samples were taken in the late 1980s. Importantly, there has been no drilling in the Bruner Vein target area. The Company anticipates it will be ready to drill this area in the second half of 2013.
Bruner Gold Project: Additional Actions
The Company plans to commence initial metallurgical work on drill cuttings from the Penelas East new discovery area. The ultimate objective will be to compare the very positive metallurgical results announced on September 10, 2012 for the historic resource area with those for the Penelas East new discovery area. In addition, the Company will address preparation of a Plan of Operations that will allow extensive drilling of these resource areas and additional target areas going forward. The Company is currently operating under Notice of Intent for the drilling planned in 2013 and does not require approval of a Plan of Operations for any drilling contemplated at the Bruner gold project during 2013.
Summary
A complete summary of the drill hole intercepts follows. Interpretive assay sections will be posted to the Company's web site once they are completed. All drill cuttings were collected in 1.5 meter (5 feet) interval, consisting of 2-3 kilogram homogenized splits which were shipped to ALS Minerals laboratory in Reno for analyses. Blanks and standards were included in the samples analyzed by the lab. Analysis for gold was done using 30 gram fire assays and AA analyses were completed for silver. The drill holes all intersect the complex mineral system at different angles and therefor a true width for each intercept cannot be determined at this time.
"With the successful discovery of a new mineral system on the property and the acquisition of historic geochemical and geophysical data generated by Newmont and others that highlights open extensions to the historic resource and identifies new target areas never before drilled, we are excited to enter 2013 with an aggressive program to quantify and expand resources in both resource areas and to test new targets that could add considerably to the mineral inventory on the property. With the successful financings completed in 2012 we now have the capital resources with which to execute our exploration program" concluded President & COO Greg Hahn.
RobertJames
12 years ago
Canamex Resources (CSQ.V) Announces Formation of Technical Advisory Committee
Jan 16, 2013 10:30:00 AM
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 16, 2013) - Canamex Resources Corp. ("Canamex" or the "Company") (TSX VENTURE:CSQ)(OTCQX:CNMXF)(FRANKFURT:CX6) is pleased to announce the formation of a Technical Advisory Committee (the "Committee"). Formed pursuant to the terms of an Ancillary Rights Agreement with Hecla Canada Ltd., a wholly owned subsidiary of NYSE-listed Hecla Mining Company, the Committee will report to Canamex's Board of Directors and make recommendations on technical matters relating to the Company's mineral projects. The three members of the Committee are Greg Hahn, Chair of the Committee, Kurt Allen and Dr. Stuart Simmons.
Greg Hahn, President and COO of Canamex and Chair of the Committee
Greg Hahn is the President and COO of the Company and Chair of the Committee. A Certified Professional Geologist and a Geological Engineer with more than 35 years of experience in exploration and mine development, he was a founding Director and shareholder of Marathon PGM Corp., which was sold in November 2010 to Stillwater Mining Company for $170 million. Prior to joining Canamex, he served as director and interim President & CEO of Silver Bull Resources Inc. (formerly Metalline Mining Company/NYSE MKT and TSX), where he was co-lead director on structuring a merger with a Vancouver-based entrepreneurial and mineral exploration group that resulted in an increase in its market cap from $20 million pre-merger to +$140 million post-merger. From 1995 - 2007, he was CEO and a director of Constellation Copper Corporation, where he was instrumental in bringing the Lisbon Valley copper mine through permitting, engineering, financing, construction, and initial operation. Prior to his position with Constellation, he was Vice-President for St. Mary Minerals Inc. for four years, examining investment opportunities in Latin America, and Chief Geological Engineer for CoCa Mines Inc. for five years, where he helped construct and operate two open pit heap leach gold and silver mines in the 1980s. He spent ten years previously with Noranda Inc. as an exploration and pre-development geologist. Greg received a B.A. in Earth Sciences from Dartmouth College and a M.S. in Geology and Geological Engineering from Michigan Technological University.
Kurt Allen, Director - New Projects for Hecla Mining Company
Kurt Allen has over 25 years' experience in the mineral exploration and mining industry, with emphasis on volcanic and sediment hosed epithermal gold-silver deposits. Kurt holds a B.Sc. in geology from Boise State University and a M.Sc. in geology from Idaho State University, and is currently the Director - New Projects for Hecla Mining Company. He has worked for Hecla since 1991 holding various positions, including Senior Mine Geologist, Chief Geologist, Manager of Exploration at Hecla's Rosebud deposit and operation from 1995 - 2000, and District Geologist, Chief Geologist, Exploration Manager, and General Manager at Hecla's San Sebastian deposit in Durango, Mexico from 2000 - 2010. While at San Sebastian, Kurt managed the exploration group responsible for the discovery of the high-grade Ag-Cu-Pb-Zn Hugh Zone resource currently in pre-feasibility studies. Prior to joining Hecla, Kurt also worked for CoCa Mines Inc. and Geodome Resources Limited.
Dr. Stuart Simmons, Research Professor, Department of Geology and Geological Engineering, Colorado School of Mines
Dr. Simmons is a consulting and research geoscientist serving clients in exploration and discovery of mineral and geothermal resources. He specializes in analyzing and interpreting patterns of hydrothermal alteration/mineralization and fluid chemistry. He has published over 70 papers dealing with epithermal mineral deposits, hydrothermal minerals, hot springs, and geothermal resources. Stuart moved to New Zealand in 1987 after completing his Ph.D. in Economic Geology at the University of Minnesota to study hydrothermal gold-silver transport-deposition in the Taupo Volcanic Zone. He is a former director of the Geothermal Institute, University of Auckland, where he was employed for over twenty years. In 2008, he began work as a full-time consultant, and in 2011 he was appointed Research Professor at Colorado School of Mines. In spring 2013, he will take up a new research position at the Energy and Geoscience Institute, University of Utah.
President and COO Greg Hahn Comments
"We are delighted Kurt Allen and Dr. Stuart Simmons have agreed to join the Company's Technical Advisory Committee. Both men have outstanding academic and professional qualifications, and I look forward to working with them as we advance our mineral projects," stated President and COO Greg Hahn. The first meeting of the Committee will be held in Golden, Colorado on January 23, 2013.
ON BEHALF OF THE BOARD
Robert Kramer, Chairman and CEO
RobertJames
12 years ago
Canamex Resources Update on Status of Projects
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 8, 2013) - Canamex Resources Corp. ("Canamex" or the "Company") (TSX VENTURE:CSQ)(OTCQX:CNMXF)(FRANKFURT:CX6) updates the status of the Bruner Gold Project, Nye County, Nevada, and the Aranka North Gold Project, Guyana, South America.
Bruner Gold Project, Nye County, Nevada
In the fourth quarter of 2012, a total of eleven reverse circulation drill holes (B-1209 thru B-1219) and one diamond drill hole (B-1208C) were completed at the Penelas East discovery area for a total of 2,920 meters (9,578 feet) of drilling. Drilling was completed mid-December, and the Company expects to be in a position to announce all drill results by the end of January. A follow-up drill program is currently being planned, and drilling is expected to re-commence in March, depending upon winter weather and spring thaw conditions.
Aranka North Gold Project, Guyana, South America
Soil sampling via hand auger holes one meter deep on 100-meter spacing across eight square kilometers of the Ridge Anomaly has identified two prominent gold-in-soil anomalies: Ridge North Anomaly and Ridge South Anomaly. The Ridge South Anomaly has overall dimensions of 1 kilometer wide by 1.8 kilometers long, and trends in a NNW direction towards the Ridge North Anomaly, which is 0.8 kilometers wide by 1.2 kilometers long. These two anomalies are separated by a distance of approximately one kilometer. The South Ridge Anomaly has ATV trail access to it and has been the focus of follow-up power auger drilling on 100-meter spacing to sample below the one meter depth of the hand auger soil sampling program. A total of 35 power auger holes out of a 120-hole program were completed before the holiday break, and a total of 90 soil samples have been delivered to the prep lab in Georgetown, Guyana for ultimate assaying at Acme Analytical Laboratories in Vancouver, Canada. The field program will re- commence in mid-January. The balance of the power auger drill holes are expected to be completed by the end of February, with all results anticipated to be in by the end of March.
Cash Position
The Company had in excess of $4.1 million cash on hand on December 31, 2012, and believes it is sufficiently financed to carry out its exploration work plan at both projects into early 2014.
CEO Robert Kramer Comments
"2012 was a pivotal year in Canamex's development. We wish to thank our shareholders for their support, and look forward to building on the results of last year during 2013," stated Company Chairman and CEO Robert Kramer.
Greg Hahn, Certified Professional Geologist (#7122) is the Qualified Person who has prepared and reviewed this press release in accordance with NI 43-101 reporting standards.
ON BEHALF OF THE BOARD
Robert Kramer, CEO and Director
Checkie
12 years ago
New Geologist from Barrick Gold
Canamex Announces Appointment of Chief Geologist to Manage Drilling and Geology of the Bruner Gold Project, Nye County, Nevada
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 18, 2012) - Canamex Resources Corp. (TSX VENTURE:CSQ)(OTCQX:CNMXF)(FRANKFURT:CX6) is very pleased to announce the appointment of Dr. Ellen D. Leavitt, Ph.D., as Chief Geologist for Canamex Resources US, Inc. Dr. Leavitt is a veteran exploration geologist with over 30-years of experience in exploration for precious and rare earth metals, primarily in the western United States. Dr. Leavitt completed her doctoral dissertation at University of Nevada-Reno on the geology of the Ken Snyder (Midas) high-grade volcanic hosted epithermal gold-silver vein deposit located in northern Nevada. The Ken Snyder (Midas) deposit is one of the premier high-grade gold-silver deposits in Nevada that was mined by Franco-Nevada, beginning in 1999, followed by Normandy Mining, and then Newmont; Midas contained an original mineable reserve of 3 million ounces of gold and 35 million ounces of silver.
Dr. Leavitt was Chief Geologist - REE for Rare Element Resources in 2011, and from 2010 - 2011 supervised the accelerated and extensive exploration drilling program on Rare Element's rare earth deposit in eastern Wyoming. Most recently she has been a consulting geologist to Barrick on the exploration and development drilling project, Spring Valley, a porphyry-hosted gold deposit located north of Lovelock, Nevada.
"We are very pleased to have Ellen Leavitt decide to join Canamex to form the nucleus of the geologic team that will focus on the drilling and advancement of the Bruner Gold Project", stated Greg Hahn, President and Chief Operating Officer. "I am very excited to join Canamex at this early but pivotal stage in the exploration and advancement of the Bruner Project, particularly with the exceptional intercept at the Penelas East target in drill hole B-1201 and the potential that this intercept may have in revealing a significant gold deposit beneath the alluvial cover. This is an opportunity I couldn't pass up," stated Dr. Leavitt.
Dr. Leavitt will join the Company the first week of October and take control of the drilling program currently in progress. Dr. Leavitt is a Certified Professional Geologist and Qualified Person under NI 43-101.
Bruner Drilling Recommences:
The Company has mobilized a drill rig to the project and commenced drilling September 17th on the East Penelas target, with the first holes being drilled immediately below the exceptional intercept in hole B-1201.
Greg Hahn, Certified Professional Geologist (#7122) is the Qualified Person who has prepared and reviewed this press release in accordance with NI 43-101 reporting standards.
ON BEHALF OF THE BOARD
Gregory A. Hahn, President and COO
Forward-Looking Statements:
This note contains forward-looking statements regarding future events and Canamex's future results. These statements are based on current expectations, estimates, forecasts, and projections about the industry in which Canamex operates and the beliefs and assumptions of Canamex's management. Words such as "expects", "anticipates", "targets", "goals", "projects", "intends", "plans", "believes", "seeks", "estimates", "continues", "may", variations of such words, and similar expressions, are intended to identify such forward-looking statements. In addition, any statements that refer to projections of Canamex's future financial performance, Canamex's anticipated growth and potentials in its business and other characterizations of future events or circumstances are forward-looking statements. Readers are cautioned that these forward-looking statements are only predictions and are subject to risks, uncertainties, and assumptions that are difficult to predict, including those identified elsewhere herein and Canamex's filings on www.sedar.com. Therefore, actual results may differ materially and adversely from those expressed in any forward-looking statements. Canamex undertakes no obligation to revise or update any forward-looking statements for any reason.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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