S&P Capital IQ Initiates Coverage on Canamex Resources Corp in Standard & Poor′s Factual Stock Reports
S&P Capital IQ announced today that it has commenced Standard
& Poor′s Factual Stock Report coverage on Canamex Resources Corp.
Canamex Resources Corp. (TSX-V:
CSQ) (PINK
SHEETS: CNMXF) (FSE:CX6),
a resource exploration company, focuses on the discovery and development
of mineral assets primarily in the Americas. The company is focused on
two gold exploration projects: Aranka North Gold Project, Guyana, South
America and Bruner Gold Project, Nevada, USA.
The Aranka North property consists of 98,057 acres in a highly
prospective gold region on trend with major gold discoveries by Guyana
Goldfields at Aurora, Sulphur Rose and Aranka and Sandspring Resources
at Toroparu. There are active alluvial gold mining operations within
Canamex's land package, and initial interpretive work on airborne
magnetic and radiometric data has identified 15 large, discrete
anomalies, all of which have dimensions of two to four kilometers long
and one to three kilometers wide, within large shear zones which bear
similarities to the shear zones that host some of the major
multi-million ounce gold deposits in Guyana and adjacent to Suriname.
CSQ has found anomalous gold with values ranging up to 647 ppb Au in the
stream sediment samples and pan concentrates from the exploration
project.
The Bruner project is located in central Nevada, about 45 miles
northwest of the Round Mountain Mine. Historic production at Bruner
includes approximately 100,000 ounces at an average grade of 0.56 ounces
per ton. Drilling by Canamex Resources began in November 2011 and the
first four holes were completed and samples sent to the analytical lab.
The first two holes tested the strong quartz-adularia alteration and
gold mineralization at the Paymaster mine area one kilometer north of
the historic resource area. Both holes cut more than 200 feet of altered
volcanic rocks and fine-grained quartz veins within the alteration zone,
which are the target at the Paymaster hill.
The company has begun its 2012 drilling program for the Bruner project
with an objective to provide sufficient information to enable CSQ to
generate a NI 43-101 compliant report on the historic resources area,
immediate extensions, and nearby vein deposits at Bruner. Canamex
Resources owns a right and option to acquire up to a 75% interest in the
Bruner gold-silver project that consists of 98 unpatented and 21
patented mining claims covering approximately 2,100 acres.
On December 15, 2011, Canamex issued a private placement of 22,700,000
Units at a price of $0.10 per Unit, for gross proceeds of $2,270,000. As
a part of the private placement, Resource Capital Fund V L.P. purchased
10 million units and is now a 15% shareholder.
The company was formerly known as Canamex Silver Corp. and changed its
name to Canamex Resources Corp. in October 2010. Canamex Resources Corp.
was founded in 1987 and is headquartered in Vancouver, Canada.
Standard
& Poor′s Factual Stock Report coverage on Canamex Resources Corp.
will also be accessible on an ongoing basis to the investment community
by scores of buy-side institutions and sell-side firms that utilize S&P
Capital IQ research and information platforms daily. Millions of
self-directed investors also have access to the report via their
e-brokerage accounts. Please visit http://www.canamex.us
for additional information.
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Canamex Resources Corp.
Robert K. Kramer, 604-718-2800 ext.
311
rkramer@canamex.us
or
S&P
Capital IQ
Customers
Richard Albanese, 212-438-3647
richard_albanese@standardandpoors.com
or
Media
Relations
Michael Privitera, 212-438-6679
michael_Privitera@standardandpoors.com