Canamex Resources Corp. (CNMXF: OTC Link) | Canamex Starts Column Leach Test Work on Bruner Gold-Silver Project, Nye County, Nevada

Canamex Starts Column Leach Test Work on Bruner Gold-Silver Project, Nye County, Nevada

May 08, 2012

OTC Disclosure News Service

Vancouver, BC, Canada –

CANAMEX RESOURCES CORP.

Suite 303, 595 Howe Street

Vancouver, B.C. V5C 2T5

Phone (604) 718-2800  Fax:  (604) 718-2808

www.canamex.us

NEWS RELEASE


Canamex Starts Column Leach Test Work on Bruner Gold-Silver Project, Nye County, Nevada

(May 8, 2012) Canamex Resources Corp. (TSX-V: CSQ) (OTCQX: CNMXF) (FSE: CX6) is pleased to announce it has commenced column leach test work on a bulk sample from underground on the Bruner  gold-silver project, located in Nye County, Nevada. 

Kappes Cassidy Associates Receives Bulk Sample

Approximately 650 kilograms (1500 lbs.) of minus 6-inch material collected from the Upper Adit at the Bruner gold-silver project were delivered to Kappes Cassidy Associates, a world recognized metallurgical test facility which specializes in cyanidation tests for heap leaching.   The Upper Adit is an old underground production level within the historic resource area and within a preliminary conceptual pit envisioned for the historic resource.   The bulk sample is based upon previous channel sampling in the Upper Adit where the average grade is projected to be 0.86 gpt (0.025 opt) Au and 10.3 gpt (0.3 opt) Ag.   This is roughly the average grade of the historic resource area as calculated by Miramar Mining Corp in 1993, based upon drilling completed to that date by a number of companies, including Newmont Mining, Miramar Mining, Viceroy Gold Corp, and Kennecott Mineral Exploration.

The objective of the test work currently underway is to assess the gold and silver extractions by cyanide leaching at two crush sizes that simulate two-stage and three-stage crushing respectively, and to acquire data on reagent (cyanide, lime, and cement) consumption and crushing and abrasion indices, all of which bear on the potential economics of processing the historic resource area by heap leaching.   The results from the test work are expected to guide management in deciding how aggressively to pursue resource definition drilling of the historic resource area in compliance with NI 43-101, provide guidance on what a reasonable cut-off grade should be for a NI43-101 compliant resource estimate, while continuing to explore the peripheral targets, some of which, like the Penelas East target, have attractive intercepts that are encouraging for development of additional resources on the property.  Three holes were drilled at the Penelas East target in 2011. Two of the three holes drilled into the Penelas East Vein System intersected +10 g/t (+.292 oz/ton) gold.  Highlights included drill hole B-1115 which penetrated a vein nearly 400 feet below the surface and 400 feet south of historic drill intercepts.  This vein intercept has a true width of 4.2 meters (13.7 feet) and averages 12.97 grams per tonne (g/t) gold (0.379 oz/ton) and 146 g/t (4.25 oz/ton) silver and includes 1.4 meters assaying 24.97 g/t (0.729 oz/ton) gold and 151 g/t (4.41 oz/ton) silver.

Two column leach tests will be run, one at -2 inch crush size and another at -3/4 inch crush size, for a minimum of 90 days in locked cycle, in order to be able to quantify ultimate cyanide extractions of gold and silver and reagent consumption for this sample, which is representative of the core of the historic resource area. In addition, a separate split from the bulk sample will be ground to minus 200 mesh and bottle-rolled in a cyanide solution to assess maximum precious metal extractions from this sample.  Comparing the column leach test results with the bottle roll test results will determine whether additional crushing is required or justified.

Screen analyses will also be performed to determine the gold content of various size fractions and whether screening of the sample material would have any benefit to potential project economics.

Greg Hahn, Certified Professional Geologist (#7122) is the Qualified Person who has prepared and reviewed this press release in accordance with NI 43-101 reporting standards.

ON BEHALF OF THE BOARD

 

SIGNED: Gregory A. Hahn

 

Gregory A. Hahn, Chairman and CEO

Contact: Robert Kramer (604) 718-2800 (ext 311)

Renmark Financial Communications Inc.

Erica Lomonaco: elomonaco@renmarkfinancial.com

Barbara Komorowski: bkomorowski@renmarkfinancial.com

Tel.: (514) 939-3989 or (416) 644-2020 www.renmarkfinancial.com

Forward-Looking Statements:

This note contains forward-looking statements regarding future events and Canamex’s future results.  These statements are based on current expectations, estimates, forecasts, and projections about the industry in which Canamex operates and the beliefs and assumptions of Canamex’s management.  Words such as “expects,” “anticipates,” “targets,” “goals,” “projects,” “intends,” “plans,” “believes,” “seeks,” “estimates,” “continues,” “may,” variations of such words, and similar expressions, are intended to identify such forward-looking statements.  In addition, any statements that refer to projections of Canamex’s future financial performance, Canamex’s anticipated growth and potentials in its business and other characterizations of future events or circumstances are forward-looking statements.  Readers are cautioned that these forward-looking statements are only predictions and are subject to risks, uncertainties, and assumptions that are difficult to predict, including those identified elsewhere herein and Canamex’s filings on www.sedar.com.  Therefore, actual results may differ materially and adversely from those expressed in any forward-looking statements.  Canamex undertakes no obligation to revise or update any forward-looking statements for any reason.

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.

The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.

Article source: http://www.otcmarkets.com/stock/CNMXF/news?id=46886

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