Announcement Date: 2022-03-21
Announcement Type: Drilling Results
Announcement Code: JORC
Company name: CANEX Metals Inc.
Project name: Gold Range
Location: United States
Commodities: Gold
Highlight: Drilling results incl. 10.67m @ 1.1g/t Au from 30.49m
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: Calgary, Alberta – CANEX Metals Inc. (“CANEX” or the “Company”) is pleased to announce assay results for 8 reverse circulation drill holes from the Company’s new oxide gold discovery at the Gold Range Project, Arizona. Assay results for holes GR21-61 to 68, all from the Excelsior zone, have been received and are presented here. A drill hole location map is shown on Figure 1, cross section I – I’ showing drill hole GR21-63 is shown on Figure 2. These holes are relatively shallow holes that test the main mineralized zone identified at Excelsior but do not test subparallel mineralized targets that have recently been identified to the east through soil and rock sampling and surface mapping shown of Figure 3 (previously released, see March 9, 2022 news release). Holes GR21-61 to 64 all tested the northeast part of the Excelsior zone. Hole GR21-61 encountered 0.6 g/t gold over 10.67 metres from 71.65 metres depth. Hole GR21-63 encountered 0.5 g/t gold over 22.87 metres including 0.6 g/t gold over 16.77 metres and is shown on section I – I’. Section I – I’ shows a shallow dipping mineralized zone with a broad anomalous halo that has
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