Canamex Resources (CVE:CSQ) (OTCQX:CNMXF) has filed an NI 43-101 compliant technical report for its Aranka North gold project in Guyana, and says it recommends a $500,000 diamond drilling program to test the heart of the gold anomaly identified.
The junior mineral explorer, in a statement released late Wednesday, said it is in discussions with several entities with regards to possibly funding the proposed campaign.
Located approximately 140 kilometres northwest of Guyana's capital, Georgetown, the Aranka North property consists of 98,057 acres in a region on trend with major gold discoveries by Guyana Goldfields at Aurora and Sulphur Rose/Aranka and Sandspring Resources at Toroparu.
Canamex purchased airborne geophysical data on the asset when the property was acquired from GMV Minerals, with initial work identifying some 15 large anomalies, all of which measured 2 to 4 km long and 1 to 3 km wide. The company has since conducted an initial stream sediment sampling program from a total of 85 sample sites, which set the stage for a more intense program focused on the new 25-sq km priority target.
Results from this latter program included anomalous gold with values ranging up to 12,234 ppb gold, Canamex said. The company then designed a grid soil sampling program focused on two key targets, the Camp Anomaly and the Ridge Anomaly, the last of which Canamex completed initial auger drilling on a total of 80 holes.
Earlier this month, Canamex again revealed high grade core drilling results from its Bruner gold project in Nevada, specifically in the Penelas East zone. The junior explorer drilled 22.9 metres grading 3.29 grams per tonne (g/t) gold from 221.6 to 244.5 metres depth in core hole B-1446C.
Once drilling has been completed at Bruner, the company will compile all the results for the preparation of a maiden NI 43-101 compliant resource estimate. The resource estimate is expected by the first quarter of next year, Canamex said. Reported by Proactive Investors 8 minutes ago.
The junior mineral explorer, in a statement released late Wednesday, said it is in discussions with several entities with regards to possibly funding the proposed campaign.
Located approximately 140 kilometres northwest of Guyana's capital, Georgetown, the Aranka North property consists of 98,057 acres in a region on trend with major gold discoveries by Guyana Goldfields at Aurora and Sulphur Rose/Aranka and Sandspring Resources at Toroparu.
Canamex purchased airborne geophysical data on the asset when the property was acquired from GMV Minerals, with initial work identifying some 15 large anomalies, all of which measured 2 to 4 km long and 1 to 3 km wide. The company has since conducted an initial stream sediment sampling program from a total of 85 sample sites, which set the stage for a more intense program focused on the new 25-sq km priority target.
Results from this latter program included anomalous gold with values ranging up to 12,234 ppb gold, Canamex said. The company then designed a grid soil sampling program focused on two key targets, the Camp Anomaly and the Ridge Anomaly, the last of which Canamex completed initial auger drilling on a total of 80 holes.
Earlier this month, Canamex again revealed high grade core drilling results from its Bruner gold project in Nevada, specifically in the Penelas East zone. The junior explorer drilled 22.9 metres grading 3.29 grams per tonne (g/t) gold from 221.6 to 244.5 metres depth in core hole B-1446C.
Once drilling has been completed at Bruner, the company will compile all the results for the preparation of a maiden NI 43-101 compliant resource estimate. The resource estimate is expected by the first quarter of next year, Canamex said. Reported by Proactive Investors 8 minutes ago.