canex

CANEX Reports Cyanide Soluble Gold Recoveries of 94 to 99% from Bottle Roll Tests at Gold Range, Arizona Drill Rig Mobilizing

Canex Metals Inc. (TSXV:CANX) ("CANEX" or the "Company") is pleased to announce exceptional cyanide soluble gold recoveries from bottle roll test work on mineralized samples from the Gold Range Project, Arizona

Highlights

  • Metallurgical test work on 8 bottle roll samples from the Gold Range Project achieved final cyanide soluble gold recoveries ranging from 94 to 99%, averaging 97%.
  • The test work showed rapid leach kinetics with the majority of gold extracted within the first 6 hours, and maximum extraction almost complete within 24 hours.
  • Sodium cyanide and lime consumption are well within acceptable levels and the overall results indicate Gold Range gold mineralization is well suited for heap leach recovery.
  • A drill rig is being mobilized to the project and drilling should commence shortly.

Dr. Shane Ebert, President of the Company stated, "The bottle roll samples were mainly taken from the Eldorado and Excelsior Zones and represent a range of gold grades from varying depths in the system. We are very encouraged to see exceptional recoveries from throughout the mineralized zone, demonstrating the system could be amenable to heap leach processing and significantly de-risking the bulk tonnage heap-leach exploration concept at Gold Range."

Bottle Roll Test Work

Eight samples of mineralized reverse circulation drill cuttings from the Gold Range Project were submitted to SGS Laboratories in Burnaby British Columbia for bottle roll testing to better understand the cyanide soluble gold recovery and leach characteristics of the Gold Range mineralization. Four of the samples were from the Eldorado zone, three samples were from the Excelsior zone, and one sample was from the Contact Zone located between Eldorado and Excelsior. The samples represent low grade gold mineralization (0.2 g/t gold), intermediate grade mineralization (0.5 to 0.8 g/t gold), and higher-grade zones (2 to 3.4 g/t gold) and were from a range of depths from 7 to 64 metres down hole.

Each sample was air-dried then crushed to 100% passing 10 mesh. A 1 kg charge from each sample was subject to standard leach conditions (cyanide concentration of 0.5 g/L NaCN with 48 hour retention time) and assayed at 0, 2, 6, 24, and 48 hours.

Summary of bottle roll test results from Gold Range

Drill HoleDepthZoneFeedLeachNaCNCaOAu GradeAu GradeAu
MassK80ConsumptionConsumptionResidueCalc. HeadRecovery
ftgµmkg/tkg/tg/tg/t%
GR21-1895-100Eldorado1000530.23950.73200.043.4098.8
GR21-1925-30Eldorado1000550.37101.28950.010.1994.7
GR21-25180-185Eldorado1000540.30031.21030.062.7097.8
GR21-25205-210Eldorado1000610.28420.90280.010.6698.5
GR21-3020-25Contact1000580.29631.39410.040.7194.3
GR21-3660-65Excelsior1000610.28781.45590.030.7796.1
GR21-3665-70Excelsior1000630.28491.21780.010.6398.4
GR21-3750-55Excelsior1000630.32430.96690.032.0898.6
Average97.1%

Sodium cyanide and lime consumption where well within acceptable levels at 0.24 to 0.32 kg/t and 0.7 to 1.5 kg/t, respectively. All of the samples were found to be non-refractory and appear to contain fee milling gold. The samples display rapid leach kinetics, with the majority of gold extracted within the first 6 hours and maximum extraction almost complete within 24 hours.

Gold leach kinetics from Gold Range samples

Drill HoleDepthZoneAu Leach Kinetics - % Au recovery
ft2 hours6 hours24 hours48 hours
GR21-1895-100Eldorado48.085.4101.498.8
GR21-1925-30Eldorado61.485.0100.494.7
GR21-25180-185Eldorado67.489.895.697.8
GR21-25205-210Eldorado63.691.993.998.5
GR21-3020-25Contact79.080.393.494.3
GR21-3660-65Excelsior67.382.091.996.1
GR21-3665-70Excelsior59.170.892.298.4
GR21-3750-55Excelsior53.470.691.098.6

The results confirm that the mineralized zones recently discovered at the Gold Range project are well suited to heap leach extraction methods and reinforces the Company's objective of exploring for and defining zones of bulk tonnage gold mineralization.

Drill Program Update - RC Drilling About to Commence

A track mounted reverse circulation drill rig is currently being mobilized to the Gold Range Project. An announcement will be made once drilling has commenced. This third round of drilling will consist of approximately 50 drill holes and in excess of 3000 metres and will focus on stepping out and expanding new gold discoveries and testing new targets.

About Canex Metals

Canex Metals (TSX.V:CANX) is a Canadian junior exploration company focused on advancing its Gold Range Project in Northern Arizona. Led by an experienced management team, which has made three notable porphyry and bulk tonnage discoveries in North America, CANEX has identified and tested several targets which host the potential for bulk tonnage oxide gold mineralization at its Gold Range Project. Recent drilling has identified near surface bulk tonnage gold potential along a recently identified trend extending from the Eldorado to Excelsior Zones. Hole GR21-37 from Excelsior returned 1.6 g/t gold over 35.1 metres including 8.2 g/t gold over 4.6 metres. These new discoveries occur along a 3 kilometre long highly prospective mineralized trend that has seen limited modern exploration.

The Company remains focused on testing and advancing key exploration targets on the Gold Range Property through continued exploration and drilling.

Dr. Shane Ebert P.Geo., is the Qualified Person for Canex Metals and has approved the technical disclosure contained in this news release.

"Shane Ebert",

Shane Ebert
President/Director

For Further Information Contact:

Shane Ebert at 1.250.964.2699 or
Jean Pierre Jutras at 1.403.233.2636
Web: https://www.canexmetals.ca

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.

Except for the historical and present factual information contained herein, the matters set forth in this news release, including words such as "expects", "projects", "plans", "anticipates" and similar expressions, are forward-looking information that represents management of Canex Metals Inc. internal projections, expectations or beliefs concerning, among other things, future operating results and various components thereof or the economic performance of CANEX. The projections, estimates and beliefs contained in such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause CANEX's actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. These risks and uncertainties include, among other things, those described in CANEX's filings with the Canadian securities authorities. Accordingly, holders of CANEX shares and potential investors are cautioned that events or circumstances could cause results to differ materially from those predicted. CANEX disclaims any responsibility to update these forward-looking statements.

SOURCE: Canex Metals Inc.



View source version on accesswire.com:
https://www.accesswire.com/663065/CANEX-Reports-Cyanide-Soluble-Gold-Recoveries-of-94-to-99-from-Bottle-Roll-Tests-at-Gold-Range-Arizona-Drill-Rig-Mobilizing

News Provided by ACCESSWIRE via QuoteMedia

The Conversation (0)
1 ounce gold bullion bar on top of US$100 bill and Tax Form 1040.

US Capital Gains Tax Guide for Gold and Silver Investors

As gold and silver continue to prove their worth as sound investments, market participants should know how precious metals investments are taxed in the US.

While the majority of gold and silver investing comes with a certain degree of taxation, there are different levels of tax based on how market participants decide to invest in these precious metals, how long the investments are held for and the investors individual tax bracket.

Read on for a breakdown of the taxes associated with investing in gold and silver bullion, ETFs and stocks, as well as the forms involved with reporting precious metals investments.

Keep reading...Show less
Gold coin stacks with up arrow.

Gold Price Hits New Record, Breaking US$3,300 for First Time

The gold price reached yet another record high on Wednesday (April 16), breaking US$3,300 per ounce.

The precious metal has gained significant momentum since the beginning of the year. In trading on Wednesday it surged past the US$3,200 mark, climbing as high as US$3,354.10 per ounce. The price retreated below the US$3,300 mark on Thursday (April 17).

The rise comes after statements from US Federal Reserve Chairman Jerome Powell made at the Economic Club of Chicago on Wednesday. In his remarks, he said that he expects US President Donald Trump's tariff policy to negatively impact US economic growth and further fuel inflation.

Keep reading...Show less
Three gold bars on price chart with magnifying glass.

What Was the Highest Price for Gold?

Gold has long been considered a store of wealth, and the price of gold often makes its biggest gains during turbulent times as investors look for cover in this safe-haven asset.

The 21st century has so far been heavily marked by episodes of economic and sociopolitical upheaval. Uncertainty has pushed the precious metal to record highs as market participants seek its perceived security. And each time the gold price rises, there are calls for even higher record-breaking levels.

Gold market gurus from Lynette Zang to Chris Blasi to Jordan Roy-Byrne have shared eye-popping predictions on the gold price that would intrigue any investor — gold bug or not.

Keep reading...Show less
Maritime Drills 5.5 gpt Gold over 29.8 metres, Including 73.0 gpt Gold over 1.5 metres at the Hammerdown Gold Project

Maritime Drills 5.5 gpt Gold over 29.8 metres, Including 73.0 gpt Gold over 1.5 metres at the Hammerdown Gold Project

Maritime Resources Corp. (TSXV: MAE) (OTC Pink: MRTMF) ("Maritime" or the "Company") is pleased to announce additional drill results from a grade control drill program at the Hammerdown Gold Project. Hammerdown is located in the Baie Verte mining district of Newfoundland and Labrador, near the towns of King's Point and Springdale.

Highlights:

Keep reading...Show less
Advancing Monument Gold Project - Exploration Update

Advancing Monument Gold Project - Exploration Update

Verity Resources Limited (ASX:VRL) (Verity or the Company) is pleased to provide an update on exploration activities and strategy at its 100%-owned Monument Gold Project, located in the prolific Laverton gold district of Western Australia. The Company is advancing a pipeline of highly prospective gold targets across the Monument Project as part of its strategy to define a larger, higher-confidence gold resource base in one of Australia’s most active gold belts. The Monument Gold Project comprises 195km2 of highly prospective greenstone, along strike of Genesis Minerals (GMD:ASX) 3.3Moz Laverton Gold Project

Keep reading...Show less
B2Gold First Quarter 2025 Financial Results - Conference Call Details

B2Gold First Quarter 2025 Financial Results - Conference Call Details

B2Gold Corp. (TSX: BTO, NYSE AMERICAN: BTG, NSX: B2G) ("B2Gold" or the "Company") will release its first quarter 2025 financial results after the North American markets close on Wednesday, May 7, 2025.

B2Gold executives will host a conference call to discuss the results on Thursday, May 8, 2025, at 8:00 am PT / 11:00 am ET.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×