Canex Advances Drill Data Compilation at the Louise Cu-Au Porphyry
CANEX Metals Inc. has presented drill data compilation results from the Louise Cu-Au Porphyry project in British Columbia. The historic drilling has identified a mineralized zone measuring 1000 metres long by 400 metres wide, extending to a depth of approximately 300 metres. Notably, hole LL04-03 returned an interval of 158 metres grading 0.41% copper and 0.40 g/t gold starting at 53.5 metres downhole.
The company proposes a deep-looking induced polarization (IP) survey that could potentially explore up to 1000 metres deep across 6 to 7 kilometres of strike length. This survey is considered important for evaluating the discovery potential of the Louise project. CANEX believes there is excellent discovery potential laterally and vertically surrounding the known copper-gold zone.
CANEX Metals Inc. ha presentato i risultati della raccolta dati di perforazione provenienti dal progetto porfirico di Cu-Au Louise nella Columbia Britannica. Le perforazioni storiche hanno identificato una zona mineralizzata che misura 1000 metri di lunghezza per 400 metri di larghezza, estendendosi fino a una profondità di circa 300 metri. Degno di nota, il foro LL04-03 ha restituito un intervallo di 158 metri con una gradazione dello 0,41% di rame e 0,40 g/t di oro a partire da 53,5 metri di profondità.
La società propone un sondaggio di polarizzazione indotta (IP) a profondità considerevoli che potrebbe esplorare fino a 1000 metri di profondità su un estensione di 6-7 chilometri. Questo sondaggio è ritenuto importante per valutare il potenziale di scoperta del progetto Louise. CANEX crede che ci sia un eccellente potenziale di scoperta sia in direzione laterale che verticale intorno alla zona conosciuta di rame-oro.
CANEX Metals Inc. ha presentado los resultados de la compilación de datos de perforación del proyecto porfirítico de Cu-Au Louise en Columbia Británica. La perforación histórica ha identificado una zona mineralizada que mide 1000 metros de largo por 400 metros de ancho, extendiéndose hasta una profundidad de aproximadamente 300 metros. Notablemente, el pozo LL04-03 devolvió un intervalo de 158 metros con un grado de 0.41% cobre y 0.40 g/t oro comenzando a 53.5 metros de profundidad.
La empresa propone un estudio de polarización inducida (IP) para exploración a gran profundidad que podría explorar hasta 1000 metros de profundidad a lo largo de 6 a 7 kilómetros de longitud. Este estudio se considera importante para evaluar el potencial de descubrimiento del proyecto Louise. CANEX cree que hay un excelente potencial de descubrimiento en las direcciones lateral y vertical alrededor de la zona de cobre-oro conocida.
CANEX Metals Inc.는 브리티시 컬럼비아에 있는 루이즈 Cu-Au 포르피리 프로젝트의 드릴 데이터 집계 결과를 발표했습니다. 역사적인 드릴링 결과, 1000미터 길이에 400미터 폭의 광물화 구역이 확인되었으며, 깊이는 약 300미터에 이릅니다. 특히, 홀 LL04-03은 53.5미터에서 시작하여 158미터 구간에서 0.41% 구리와 0.40g/t 금을 기록했습니다.
회사는 최대 1000미터 깊이까지 탐사할 수 있는 심층 유도 전위측정(IP) 조사를 제안합니다, 이 조사는 6~7킬로미터의 스트라이크 길이를 가로지르는 것으로 간주됩니다. 이 조사는 루이즈 프로젝트의 발견 잠재력을 평가하는 데 중요하다고 여기고 있습니다. CANEX는 알려진 구리-금 구역을 둘러싼 수평 및 수직 발견 잠재력이 뛰어나다고 믿습니다.
CANEX Metals Inc. a présenté les résultats de la compilation des données de forage provenant du projet porphyrique Cu-Au Louise en Colombie-Britannique. Le forage historique a identifié une zone minéralisée mesurant 1000 mètres de long sur 400 mètres de large, s'étendant jusqu'à une profondeur d'environ 300 mètres. Notamment, le trou LL04-03 a retourné un intervalle de 158 mètres évalué à 0,41% de cuivre et 0,40 g/t d'or à partir de 53,5 mètres de profondeur.
L'entreprise propose une étude de polarisation induite (IP) à grande profondeur pouvant explorer jusqu'à 1000 mètres de profondeur sur une longueur de 6 à 7 kilomètres. Cette étude est considérée comme importante pour évaluer le potentiel de découverte du projet Louise. CANEX estime qu'il y a un excellent potentiel de découverte latéralement et verticalement autour de la zone de cuivre-or connue.
CANEX Metals Inc. hat die Ergebnisse der Datenkompilation von Bohrungen aus dem Louise Cu-Au Porphyrprojekt in British Columbia vorgestellt. Die historischen Bohrungen haben eine mineralisierte Zone identifiziert, die 1000 Meter lang und 400 Meter breit ist, und erstreckt sich bis in eine Tiefe von etwa 300 Metern. Besonders bemerkenswert ist, dass Bohrloch LL04-03 einen Abschnitt von 158 Metern mit 0,41% Kupfer und 0,40 g/t Gold zurückgab, beginnend bei 53,5 Metern Tiefe.
Das Unternehmen schlägt eine tiefe induzierte Polarisation (IP) Untersuchung vor, die bis zu 1000 Meter tief über eine Streckenlänge von 6 bis 7 Kilometern erkunden könnte. Diese Untersuchung wird als wichtig für die Bewertung des Entdeckungspotenzials des Louise-Projekts angesehen. CANEX glaubt, dass es sowohl seitlich als auch vertikal um die bekannte Kupfer-Gold-Zone hervorragendes Entdeckungspotenzial gibt.
- Identified mineralized zone: 1000m long x 400m wide, extending to 300m depth
- Strong copper and gold grades: 158m interval grading 0.41% Cu and 0.40 g/t Au in hole LL04-03
- Excellent road access and infrastructure near the project site
- Proposed deep IP survey could explore up to 1000m depth across 6-7km strike length
- Potential for discovery laterally and vertically around known copper-gold zone
- Central controlling porphyry intrusion not yet identified
- Flat dipping fault truncates mineralization at depth in multiple holes
- Past work to about 300m depth, leaving deeper potential unexplored
- Some drill holes end in mineralization, indicating incomplete delineation of the resource
CALGARY, AB / ACCESSWIRE / September 24, 2024 / CANEX Metals Inc. ("CANEX" or the "Company") is pleased to present drill data compilation results from the Louise Cu-Au Porphyry project in British Columbia.
Highlights:
Historic drilling has identified a mineralized zone that is 1000 metres long by 400 metres wide and currently extends to a depth of approximately 300 metres.
Strong copper and gold grades occur in the system highlighted by hole LL04-03 which returned an interval of 158 metres grading
0.41% copper and 0.40 g/t gold starting at 53.5 metres downhole.
Past work largely focused in and around the original surface discovery area and only extends to about 300 metres deep, with some drill holes ending in mineralization.
Data suggests potential for a copper and gold target below the existing resource.
To better understand the district scale potential of this porphyry system, CANEX is proposing a deep looking induced polarization (IP) survey that can potentially look up to 1000 metres deep and extend that survey across 6 to 7 kilometres of strike length (See Figure 4).
Louise is located approximately 35 kilometres west of Smithers and has excellent road access with significant logging road infrastructure through the area. Historic drilling has defined a near surface mineralized zone 1000 metres long by up to 400 metres wide, extending to about 300 metres depth. Strong copper and gold grades occur in the system highlighted by hole LL04-03 which returned an interval of 158 metres grading
A drill location map with copper and gold grades displayed along drill holes is shown in Figure 1. Cross sections through the deposit in roughly north-south and east-west orientations are shown in Figures 2 and 3. The data show a strong and continuously mineralized zone that extends from surface to around 300 metres depth. The mineralized zone consists of volcanic and sedimentary rock hosted mineralization along with mineralized intrusive dikes. A central controlling porphyry intrusion has not been identified and remains a key exploration target at Louise. A flat dipping fault truncates mineralization at depth in multiple holes and a better understanding of the structural setting will be important for district scale targeting.
Figure 1. Louise Project drill hole location map showing copper and gold grades along drill hole traces.
The high-quality historic data for Louise provides an excellent basis for understanding the known zone of mineralization and planning low-cost meaningful exploration that could lead to a new discovery. Drill data review has strengthened the Company's thesis that there is excellent discovery potential laterally and vertically surrounding the known copper-gold zone.
Figure 2. North-south cross section through the Louise deposit showing copper and gold values down hole and the outline of the mineralized zone.
Figure 3. Roughly east-west oriented cross section through the Louise deposit showing copper and gold values down hole and the outline of the mineralized zone.
Past work has been largely focused in and around the original surface discovery area and only extends to about 300 metres deep. To better understand the district scale potential of this porphyry system CANEX proposes a deep looking induced polarization (IP) survey that can potential look up to 1000 metres deep and extend that survey across 6 to 7 kilometres of strike length. Figure 4 shows a cross section through the district showing the extent of the proposed IP survey relative to the area of known mineralization in section B-B'. Completing a district scale IP survey is considered a critical next step in evaluating the discovery potential of the Louise project.
Figure 4. District scale east-west cross section looking north showing section B-B (see Figure 2 for location of B-B') relative to the designed coverage of a proposed induced polarization geophysical survey.
Given the modest costs for a survey of this type and the high value a new copper-gold discovery might create, we see this as an excellent risk-reward proposition for CANEX shareholders. The Company is currently planning the next stage of exploration at Louise.
Quality Control
The historic drill hole data for the Louise project has been assembled from multiple sources including assessment reports, Technical Reports issued to former project operators, and from a former project manager. Drill logs and assay certificates have been obtained for most, but not all, of the historic drilling. Historic sampling and quality control measures have been reviewed and found to be consistent with acceptable industry standards. CANEX considers the assembled Louise drill hole data base to be complete and accurate and suitable for exploration targeting purposes.
About CANEX Metals
CANEX Metals (TSX.V:CANX) is a Canadian junior exploration company focused on advancing it's
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: http://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.
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FAQ
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