Carmax Explorations Ltd.: Eaglehead Property Update
20 March 2008 - 7:46AM
Marketwired
VANCOUVER, BRITISH COLUMBIA has received drill results from
Holes #80 and #81 completed in the fall of 2007. These holes were
drilled to test a high chargeability anomaly located along the 40N
baseline between lines 177E to 187E. This anomaly located about 2.0
km southeast of the Far East Zone is 1200m x 500m in size and
contains greater than 25 mv/v interpreted chargeability. The holes
were spotted prior to the final completion of a 3-D geophysical
report and were located on the basis of pseudo-section data
only.
- Drill Hole #80 at (-65 degrees SW) intersected argillite for
the most part but did contain a section of 177' (53.9m) of massive
graphite with only low copper values. This intersection was further
analyzed for total carbon and also graphitic carbon, giving values
of 1.6% - 3.47% total carbon and 0.03 - 0.04% graphitic
content.
- Drill Hole #81 was drilled 800 meters southeast of hole #80
also at (-65 degrees SW). Slightly higher copper values were
intersected to 0.013%. Three gold intercepts were obtained; 5.79m
@1.6 gm/t; 11.28m @0.041 gm/t and 2.43m @ 0.10gm/t. It is noted
that, as only the NW and SE margins of the anomaly have been drill
tested, further drilling will be conducted in this area in
2008.
- Soil geochemistry was completed over a section of 1.0 km x 2.5
km extending the area covered by prior exploration programs
undertaken by the company. One hundred and thirty-nine samples were
collected and delivered to Acme Labs for analysis for 36 elements
using the Aqua-Regia digestion I.C.P.-M's analysis. Previously
defined anomalies of copper, molybdenite and gold now appear to
extend for an additional 1.0 km to the southeast based on the new
results.
- No holes have yet been drilled in the nickel anomaly which has
been expanded by the geochemistry program conducted in 2007.
The final results of the 2007 exploration season are currently
being interpreted with earlier released exploration data for the
2007 season in order to arrive at plans for a comprehensive 2008
exploration program. Specifics of the 2008 program will be
announced in the near future. In addition, the Company expects to
release a resource calculation which will only be conceptual in
nature and qualified as historical data predating 2001 cannot be
relied upon in defining a mineral resource that complies with the
requirements of NI 43-101.
A recent independent research report has been recently released
by Fundamental Research Corp. and is now available on the Company's
website www.carmaxex.com under subtitle "Research Report".
John R. Poloni, P.Eng. is the qualified person responsible for
the technical data presented in this News Release.
ERNEST S. PETERS, PRESIDENT/DIRECTOR
The Company relies upon litigation protection for
"forward-looking" statements.
The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this release.
Contacts: Carmax Explorations Ltd. Chuck Underhill (604)
408-2212 or Toll Free: 1-888-408-2212 (604) 689-4143 (FAX) Website:
www.carmaxex.com
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