Canamex Commences 2011 Exploration Program at Bruner Gold-Silver Project, Nevada
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 05/24/11 -- Canamex Resources Corp. (TSX VENTURE: CSQ)(FRANKFURT: CX6) is pleased to announce that it has commenced its 2011 exploration program at the Bruner gold-silver project located in Nye County, Nevada. The Company has staked 21 additional mining claims on the north end of the Bruner property. These new claims cover gold in soil anomalies detected by Newmont during their exploration around the property in the late 1980s.
The Company has started permitting with the State of Nevada and the Bureau of Land Management for the drilling of approximately 12 holes totaling 8,000 feet (2,439 meters) on both private (fee) and federal land. This drilling program will fulfill the Company's 2011 obligation under the terms of its earn-in agreement to acquire a 75% interest in the Bruner Property. Commencement of drilling will be dictated by timing of receipt of permits and availability of a drill rig.
The 2011 drilling program is intended to further test the large low grade historic resource reported by Miramar Mining in the 1990s, which was the focus of the Company's initial 2010 ten-hole drilling program. Additionally, a high grade zone to the east of the low grade resource area will be further tested. Historic drilling in the high grade area intersected an average of 8.3 feet (2.5 meters) grading 0.504 oz/ton Au (15.7 grams/tonne Au) and 0.705 oz/ton Ag (22 grams/tonne Ag) from three historic holes drilled in the 1990s. These historic high-grade intercepts lie approximately 1000 feet (305 meters) to the east of the old Penelas mine, which mined an average grade of 0.321 oz/ton Au (10 grams/tonne Au) and 1.48 oz/ton Ag (46 grams/tonne Ag) between 1935-1942 (see 43-101 Technical Report on the Bruner Project filed by the Company).
Greg Hahn, newly appointed President and CEO of Canamex Resources Corp., stated, 'The commencement of renewed exploration activities at the Bruner project is exciting. I believe the potential for the Bruner project to host a large open pitable gold resource along with significant high grade gold-silver veins is substantial.'
Results of the exploration program will be released as they are received and reviewed for compliance with requirements under NI 43-101.
The information of a scientific or technical nature contained in this news release has been prepared and verified under the guidance of, and approved by, Gregory A. Hahn, P. Geo., President and CEO of Canamex, who is the Company's Qualified Person under National Instrument 43-101 standards.
ON BEHALF OF THE BOARD
Gregory A. Hahn, President and CEO
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.
Contacts:
Canamex Resources Corp.
Gregory A. Hahn
President and CEO
(604) 718-2800
(604) 718-2808 (FAX)
info@canamex.us
www.canamex.us