CANEX Receives Exploration Permit for Louise Copper-Gold Porphyry
CANEX Metals has received an exploration permit for conducting geophysical surveying at the Louise Copper-Gold Porphyry project in British Columbia. The permit allows for 56-line kilometres of ground-based induced polarization surveying, which is fully funded and scheduled for Spring 2025.
The deep-looking survey will cover an area up to 1000 metres deep by 6-7 kilometres along strike, evaluating unexplored areas below and lateral to the known Louise copper-gold resource. Local First Nation groups have expressed support for the project, with one group signing a Communication and Engagement Agreement.
The Louise property hosts a copper-gold deposit defined over an area 1000 meters long by 400 meters wide to approximately 300 meters depth. Historic drilling highlights show strong grades within the porphyry system, with intercepts including 204 meters of 0.57% CuEq and 170.5 meters of 0.41% CuEq.
CANEX Metals ha ricevuto un permesso di esplorazione per svolgere indagini geofisiche presso il progetto porfirico di rame-oro Louise nella Columbia Britannica. Il permesso consente di effettuare 56 chilometri lineari di sondaggi di polarizzazione indotta a livello del suolo, completamente finanziati e programmati per la primavera del 2025.
Il sondaggio, che può penetrare in profondità, coprirà un'area fino a 1000 metri di profondità e per 6-7 chilometri lungo il fronte, valutando aree inesplorate al di sotto e lateralmente rispetto alla risorsa di rame-oro Louise conosciuta. I gruppi delle Prime Nazioni locali hanno espresso sostegno per il progetto, con un gruppo che ha firmato un Accordo di Comunicazione e Impegno.
La proprietà Louise ospita un deposito di rame-oro definito su un'area di 1000 metri di lunghezza, 400 metri di larghezza e circa 300 metri di profondità. I dati storici di perforazione evidenziano forti gradi all'interno del sistema porfirico, con intercettazioni che includono 204 metri di 0.57% CuEq e 170.5 metri di 0.41% CuEq.
CANEX Metals ha recibido un permiso de exploración para realizar estudios geofísicos en el proyecto de pórfido de cobre-oro Louise en Columbia Británica. El permiso permite realizar 56 kilómetros lineales de estudios de polarización inducida en el terreno, que están completamente financiados y programados para la primavera de 2025.
El estudio de penetración profunda abarcará un área de hasta 1000 metros de profundidad y de 6-7 kilómetros a lo largo del frente, evaluando áreas inexploradas por debajo y lateralmente a los recursos conocidos de cobre-oro Louise. Los grupos de Primeras Naciones locales han expresado su apoyo al proyecto, con un grupo firmando un Acuerdo de Comunicación y Compromiso.
La propiedad de Louise alberga un depósito de cobre-oro definido en un área de 1000 metros de longitud, 400 metros de ancho y aproximadamente 300 metros de profundidad. Los datos históricos de perforación muestran grados altos dentro del sistema pórfido, con intersecciones que incluyen 204 metros de 0.57% CuEq y 170.5 metros de 0.41% CuEq.
CANEX Metals는 브리티시컬럼비아에 있는 루이즈 구리-금 포르프리 프로젝트에서 지구 물리 탐사를 수행할 수 있는 탐사 허가를 받았습니다. 이 허가는 지상 기반 유도 폴라리제이션 탐사를 56km 진행할 수 있도록 허용하며, 전액 자금 지원을 받고 2025년 봄에 계획되어 있습니다.
깊이 조사하는 이 연구는 최대 1000미터 깊이와 6-7킬로미터의 범위를 다루며, 알려진 루이즈 구리-금 자원 아래와 옆에 위치한 미탐사 지역을 평가할 것입니다. 지역의 원주율 그룹들은 이 프로젝트에 대한 지지를 표명했으며, 한 그룹은 소통 및 참여 협약을 체결했습니다.
루이즈 소유지는 길이 1000미터, 너비 400미터, 깊이 약 300미터에 걸쳐 정의된 구리-금 매장량을 보유하고 있습니다. 역사적인 굴착 데이터는 포르프리 시스템 내에서 높은 등급을 보여주며, 204미터에서 0.57% CuEq 및 170.5미터에서 0.41% CuEq의 교차점을 포함합니다.
CANEX Metals a obtenu un permis d'exploration pour réaliser des études géophysiques sur le projet porphyrique de cuivre-or Louise en Colombie-Britannique. Le permis permet d'effectuer 56 kilomètres linéaires de sondages de polarisation induite au sol, totalement financés et prévus pour le printemps 2025.
Le sondage à grande profondeur couvrira une zone allant jusqu'à 1000 mètres de profondeur sur 6-7 kilomètres le long de la faille, évaluant des zones inexploitées en-dessous et latéralement par rapport à la ressource connue de cuivre-or Louise. Des groupes des Premières Nations locales ont exprimé leur soutien à ce projet, l'un des groupes ayant signé un Accord de Communication et d'Engagement.
La propriété Louise abrite un dépôt de cuivre-or défini sur une zone de 1000 mètres de long, 400 mètres de large et environ 300 mètres de profondeur. Les données historiques de forage montrent des grades élevés au sein du système porphyrique, avec des intersections comprenant 204 mètres à 0,57% CuEq et 170,5 mètres à 0,41% CuEq.
CANEX Metals hat eine Explorationsgenehmigung erhalten, um geophysikalische Untersuchungen im Louise Kupfer-Gold Porphyrprojekt in British Columbia durchzuführen. Die Genehmigung erlaubt 56 Kilometer Erdwissenschaften mit induzierter Polarisation, die vollständig finanziert und für den Frühling 2025 geplant sind.
Die tiefenwirksame Untersuchung wird ein Gebiet bis zu 1000 Meter tief und 6-7 Kilometer entlang der Lagerstätte abdecken und unerkundete Bereiche unter und seitlich zur bekannten Kupfer-Gold-Ressource Louise bewerten. Lokale First-Nations-Gruppen haben Unterstützung für das Projekt geäußert, wobei eine Gruppe eine Kommunikations- und Engagementvereinbarung unterzeichnet hat.
Das Louise-Gelände beherbergt eine Kupfer-Gold-Lagerstätte, die sich über eine Fläche von 1000 Metern Länge, 400 Metern Breite und bis zu 300 Metern Tiefe erstreckt. Historische Bohrdaten zeigen starke Gehalte innerhalb des Porphyrsystems, wobei die Schnittpunkte unter anderem 204 Meter mit 0,57% CuEq und 170,5 Meter mit 0,41% CuEq umfassen.
- Fully funded exploration program with no additional capital needed
- Strong historic drilling results with significant copper-gold mineralization
- Recent oversubscribed financing completed at premium to market price with no warrants
- Secured necessary permits and First Nations support for exploration
- Project is road accessible and close to infrastructure
- Exploration activities delayed until Spring 2025 due to snow conditions
- True thickness of mineralization is unknown
- Mineralization appears truncated at depth by fault
Outlines a Fully Funded Exploration Plan
CALGARY, AB / ACCESSWIRE / December 10, 2024 / CANEX Metals Inc. ("CANEX" or the "Company") is pleased to announce it has received an exploration permit to conduct geophysical surveying at the Louise COPPER-GOLD Porphyry project in British Columbia and outlines a plan and timeline to advance the project.
Highlights:
The exploration permit allows for 56-line kilometres of ground based induced polarization geophysical surveying.
The geophysical survey is fully funded, a contractor has been selected, and the survey can commence as soon as snow levels in the project area allow.
A deep looking induced polarization survey method will be utilized covering an area up to 1000 metres deep by 6 to 7 kilometres along strike and is intended to evaluate the exploration potential in untested areas below and lateral to the known Louise copper-gold resource.
Local First Nation groups have expressed support and interest in working collaboratively with CANEX in conducting early-stage exploration activities at the project.
Dr. Shane Ebert President of the Company stated, "During 2024 the CANEX team has been able to acquire the Louise Project, advance the technical understanding, come up with a cost effect low risk exploration plan, convey that plan to First Nation stakeholders and obtain their support to move forward, and then permit and fund that exploration plan. Our next steps at Louise are to complete a ground based induced polarization survey in spring 2025 once snow conditions allow, and then evaluate potential next steps including drill targeting. We are excited at the prospect of being the first exploration Company to conduct a district scale, modern, deep-looking induced polarization survey in this highly prospective copper-gold district."
CANEX has received a Notice of Work exploration permit from the Ministry of Energy, Mines and Low Carbon Innovation allowing up to 56-line kilometres of induced polarization geophysical surveying at Louise. A geophysical contractor has been selected and the survey is scheduled to be conducted in the Spring of 2025 or as soon as snow conditions allow access over the project area. Dialogue with local First Nation groups has been positive with all groups expressing support and interest in working collaboratively with CANEX in conducting early-stage exploration activities at Louise. A Communication and Engagement Agreement has been entered into with one of the groups, and a letter of support received from another. CANEX has committed to keeping First Nation stakeholders informed and directly involved in exploration activities.
In November of this year CANEX completed a flow through and hard dollar oversubscribed financing and the flow through component will be used primarily to fund the proposed geophysical survey at Louise. This financing was done at a premium to current market price and with no warrant, demonstrating strong commitment from participants and highlighting the quality of the Company's projects.
Overview of the Louise Cu-Au Porphyry
The Louise copper-gold porphyry is road accessible, located close to infrastructure, and has been explored to shallow depths by multiple exploration groups since the 1960's. The property hosts a copper-gold deposit that has been drill defined over an area 1000 meters long by 400 meters wide and to approximately 300 meters depth. The high-quality historic data set for Louise provides an excellent basis for understanding the known zone of mineralization and has been instrumental in planning low-cost meaningful exploration that could lead to a new discovery.
Table 1. Louise Project Historic Drill hole highlights
Hole | From (m) | To (m) | Interval (m)1 | CuEq (%)2 | Cu (%) | Au (g/t) | Mo (%) | Ag (g/t) |
LL04-03 | 49.5 | 253.5 | 204.0 | 0.57 | 0.37 | 0.35 | 0.012 | 1.2 |
including | 53.5 | 211.5 | 158.0 | 0.64 | 0.41 | 0.40 | 0.014 | 1.3 |
LL05-04 | 103.0 | 295.1 | 192.1 | 0.43 | 0.27 | 0.26 | 0.011 | 1.0 |
LL05-05 | 140.8 | 311.3 | 170.5 | 0.41 | 0.25 | 0.25 | 0.011 | 0.9 |
LL04-02 | 147.0 | 297.0 | 150.0 | 0.56 | 0.34 | 0.34 | 0.018 | 1.1 |
including | 188.9 | 293.0 | 104.1 | 0.67 | 0.42 | 0.41 | 0.019 | 1.4 |
LL06-10 | 208.8 | 289.0 | 80.2 | 0.60 | 0.40 | 0.41 | 0.005 | 1.5 |
LL05-02 | 221.6 | 300.3 | 78.7 | 0.78 | 0.45 | 0.44 | 0.037 | 1.2 |
1 Interval refers to drill hole intercept, true thickness is not known.
2 CuEq (copper equivalent) is provided for illustrative purposes only and is calculated using metals prices (USD) of
Historic drilling highlights are summarized in Table 1 and demonstrate strong grades within the porphyry system. A drill location map with copper and gold grades displayed along drill holes is shown in Figure 1. A cross section through the deposit oriented roughly east-west is shown in Figure 2. The data show a 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, with alteration and mineralogy characteristic of the upper parts of a porphyry system. A central controlling porphyry intrusion has not been identified and remains a key exploration target. A flat dipping fault has historically been interpreted to truncate mineralization at depth and identifying the faulted roots of the deposit is also a priority exploration objective.
Figure 1. Louise Project drill hole location map showing copper and gold grades along drill hole traces.
Figure 2. North-south cross section through the Louise deposit showing copper and gold values down hole and the outline of the mineralized zone.
As the next step in evaluating the potential of the district CANEX has designed a deep looking induced polarization (IP) survey that can potentially look up to 1000 metres deep and that extends across a 6 to 7 kilometre strike length. Figure 2 shows a schematic cross section superimposed on section A-A' illustrating the very large untested area below and lateral to the historic Cu-Au resource that will be covered by the planned IP survey. This relatively low cost survey has potential to image the as yet undiscovered main body of the Louise porphyry system, exposing CANEX shareholders to very significant new discovery upside at minimal expense.
Figure 3. Schematic district scale east-west cross section looking north showing section A-A (see Figure 1 for location of A-A') relative to the designed coverage of the proposed and permitted induced polarization geophysical survey.
Over the winter months CANEX will focus its exploration efforts on new oxide gold discoveries the Company has made at its Gold Range Project in Arizona. A summary of key exploration advancements achieved at Gold Range during 2024 will be presented shortly along with near term plans to advance the project.
About CANEX Metals
CANEX Metals (TSXV: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.
View the original press release on accesswire.com
FAQ
What is the size of the permitted geophysical survey at Louise Copper-Gold project?
When will CANEX begin the geophysical survey at the Louise project?
What are the significant historic drill results from the Louise Copper-Gold project?
What is the current size of the known Louise copper-gold deposit?
