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Sector
NewswireTM
Sector: Mining - Metals and Minerals
:
News Release - July 21,
2011 6:36 PM ET
Canamex Advancing Gold Project in
Guyana, Ideally Positioned for Major Gold
Discovery
Shares outstanding
42,087,864 (57,862,864 Fully diluted), closing price 07/21/2011: CDN$0.155
NEW
YORK, NY, July 21, 2011 /Sector Newswire/ - Canamex Resources Corp. (TSX-V:
CSQ) (US Listing: CNMXF) (Frankfurt: CX6) is the subject of a Mining MarketWatch
Journal
review offering insight and opportunity afforded
investors as CSQ.V is positioned for major gold discovery in Guyana,
South America. Additionally, CSQ.V is advancing its Bruner Gold Project in Nevada
where their
large tonnage gold project with an historic resource estimate of
383,000 oz Gold possesses similarities to Kinross and Barrick's nearby
multi-million oz Round Mountain Mine.
The full Journal review may be found
at http://miningmarketwatch.net/csq.htm
online.
Canamex's two fronts:
1) Aranka North gold project in Guyana South America (100%
interest to earn): Canamex has locked up some of the best/most
highly prospective gold bearing land in Guyana and is ripe for major
gold discovery. Canamex's Aranka North gold project lies to the
northeast of major gold discoveries by Guyana Goldfields at Aurora
and Sulfur Rose, and its reported new discovery at Aranka, all of
which lie along a northeast trend. The Aranka North land package
lies further to the northeast along this well-mineralized and highly
prospective gold trend responsible for >70% of all gold discovered
in Guyana to date. There are active alluvial mining operations
within the CSQ.V land package along the Waini River system and
geological indicators dictate the source of the alluvial gold is in
the outcropping and shallow bedrock at the headwaters of the
gold-bearing alluvial drainages within Canamex's land package.
2) Bruner Gold Project in Nevada (75% interest to earn) is a
large tonnage gold project similar to Kinross & Barrick's nearby
Round Mountain Mine. When developed a Round Mountain style open pit
bulk mining heap leach deposit can offer consistent low cost gold
extraction for decades; utilizing heap leaching Round Mountain has
produced over ten million ounces of gold over a 20 year period and
the deposit continues to expand. Recent drilling and
hydrometallurgical testing on Canamex's Bruner deposit affirms the
belief that with continued success there exists the potential to
conceivably emulate Round Mountain. The recent exploration efforts
by Canamex on Bruner are part of a process of bringing current the
historic (non NI 43-101 compliant) resource estimate of 383,000 oz
Gold established in 1991, since that time an additional 86 holes
have been drilled within and along strike of the resource area. Like
the Round Mountain Mine deposit Canamex's Bruner deposit material is
low grade but as demonstrated in recent "bottle roll" tests is
leachable with average gold recoveries in excess of 90%. Historic
production at Canamex's Bruner includes ~100,000 ounces at an
average grade of 0.56 opt gold. CSQ.V definitely confirmed the
potential at Bruner in its last round of drilling with intercepts of
over 300 feet of low grade in one hole with a five foot veinlet
averaging close to 10 g/t gold with decent silver grades too. The
deposit also appears to be open ended with oxidization occurring to
at least 800 feet beneath the surface. In short, Bruner appears to
be a significant deposit.
Investors in CSQ.V have an opportunity to gain exposure to a growing
gold exploration/mining company in the process of exposing serious
potential value. The Bruner gold project is now considered such a
solid gold prospect for Canamex that it strategically forms a
baseline project that can be expanded upon and act as a backstop
while it juxtaposes exploration efforts on highly prospective
project(s) in Guyana. Mining MarketWatch Journal has confirmed that
Canamex is actively vetting other highly prospective prospects in
Guyana. With only ~42M shares outstanding (~57M fully diluted) and
trading under CDN$0.25 CSQ.V is poised for significant upside
revaluation to better reflect the inherent value and immense gold
potential.
The full Journal review may be found
at http://miningmarketwatch.net/csq.htm
online.
This release may
contain forward-looking statements regarding future events that
involve risk and uncertainties. Readers are cautioned that these
forward-looking statements are only predictions and may differ
materially from actual events or results. Articles, excerpts,
commentary and reviews herein are for information purposes and are
not solicitations to buy or sell any of the securities mentioned.
Readers are referred to the terms of use, disclaimer and disclosure
located at the above referenced URLs.
SOURCE: Sector Newswire editorial
editorial@SectorNewswire.com
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