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canamex resources corp (CSQ) Snapshot

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canamex resources corp (CSQ) Details

Canamex Resources Corp. engages in the acquisition and exploration of mining properties. Its principal gold exploration project is the Bruner Property that comprises 230 unpatented and 27 patented mining claims covering a total of approximately 3,520 acres located in central Nevada. The company was formerly known as Canamex Silver Corp. and changed its name to Canamex Resources Corp. in October 2010. Canamex Resources Corp. was founded in 1987 and is headquartered in Vancouver, Canada.

Founded in 1987

canamex resources corp (CSQ) Top Compensated Officers

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Compensation as of Fiscal Year 2014.

canamex resources corp (CSQ) Key Developments

Canamex Resources Corp. Auditor Raises 'Going Concern' Doubt

Canamex Resources Corp. filed its Annual on Apr 22, 2015 for the period ending Dec 31, 2014. In this report its auditor, Manning Elliott, gave an unqualified opinion expressing doubt that the company can continue as a going concern.

Canamex Resources Corp. Presents Initial Resource Estimate of the Historic Resource Area and Paymaster Zones At the Bruner Gold Project, Located in Nye County, Nevada, USA

Canamex Resources Corp. announced an initial resource estimate of the Historic Resource Area (HRA), Penelas, and Paymaster zones at the Bruner Gold Project, located in Nye County, Nevada, USA. This resource estimate is being disclosed to shareholders and the public, as per the requirements of National Instrument 43101 Standards of Disclosure for Mineral Projects (NI 43101). Highlights include: An indicated mineral resource of 10.3 million metric tonnes at an average grade of 0.72 gpt Au containing 239koz of gold in the Historic Resource Area (HRA) and Penelas zones; and An inferred mineral resource of 2.45 million metric tonnes at an average grade of 0.77 gpt Au containing 61koz of gold in the HRA, Penelas and Paymaster zones. In order to establish a reasonable prospect of economic extraction in an open pit/heapleach context, the mineral resources presented above are reported within a constraining pit generated at a gold price of $1350/oz Au; a silver price of $15/oz Ag; metallurgical recoveries of 90% for gold and 10% for silver; mining cost of $2.40/tonne of material mined; and process and G&A costs of $4.67/tonne of material processed. Additional pit factors include a pit slope of 50 degrees. The resources are reported within the pit shell above an external cutoff grade (ecog) of 0.212 gpt goldequivalent on the basis of a gold price of $1,250/oz Au; a silver price of $15/oz Ag; metallurgical recoveries of 90% for gold and 10% for silver; mining cost of $2.65/tonne of material mined; and process and G&A costs of $5.00/tonne of material processed. The gold to silver ratio used for calculating goldequivalent ounces was 750:1 based upon: a gold price of $1250/oz; a silver price of $15/oz; gold metallurgical recovery of 90%; and silver metallurgical recovery of 10%. Gold and silver estimates for both the HRA and Penelas zones are uncapped, while gold and silver estimates for the Paymaster zone are capped at 7 gpt and 40 gpt respectively until further drilling is completed to provide more data for statistical support above these capping levels. The associated additional material within all of the pits for all three zones below the external cutoff grade is 46.8 million tonnes. Mineral resources were estimated by ordinary kriging using Techbase software in 5 by 5 by 5 meter blocks, constrained by probabilistic grade shells based on a 0.1gpt Au cutoff. Grade estimates within the grade shells were based on uncapped, 5 meter composited assay data for the HRA and Penelas zones and capped 5 meter composited assay data for the Paymaster zone.

Canamex Resources Corp. Reports Final Drill Results from the 2014 Drilling Campaign, Bruner Gold Project, Nevada

Canamex Resources Corp. announced the final assay results from core drilling at the Bruner Gold Project located in Nye County, Nevada. Core drilling at the Penelas East discovery area: Core drilling at the northern extension of the Penelas East discovery area intersected gold mineralization across a 170 feet (51.8 meters) interval in the last hole drilled in the target area in 2014. Drill hole B 1454C intersected 51.8 meters (170 feet) grading 0.444 gm/tone (0.013 oz/ton) Au from 208.2260 meters (683,853 feet). This intercept is roughly 36.6 meters (120 feet) along strike of the intercept reported previously in hole B1446C which intersected 22.9 meters grading 3.29 gm/tone Au, and occurs at roughly the same elevation as the intercept reported in hole B1446C. Previous drill hole B1437 intersected 25.9 meters near the surface from 6.132 meters depth grading 2.37 gm/tone Au. Further drilling is required to determine if the company can connect the deep intercepts in B1454C and B1446C with the shallower intercept in B1437. These intercepts are also open to the north, and follow-up drilling will be planned for 2015 to determine whether these deeper intercepts can be extended roughly 100 meters northward towards similar intercepts encountered earlier in the year in reverse circulation (RC) holes B1405 and B1407. Core Drilling at the historic resource area: Core drilling at the northeast extension of the historic resource area intersected gold mineralization across a 105.3 feet (32.1 meters) interval in the nexttolast hole drilled in the target area in 2014. Core hole B1463C intersected 105.3 feet (32.1 meters) from 51.7157 feet (15.847.9 meters) grading 0.010 oz/ton (0.339 gm/tone) Au. This intercept is the last drill hole in this area to the northeast of the historic resource area, and there is considerable potential to expand the resource further northward. A prominent goldinsoil and coincident potassium alteration anomaly continues north of the intercept in hole B1463C for over 600 meters. This potential area for expansion is located entirely on patented claims and will be the focus of a proposed drilling program in 2015.


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