Canamex Resources Corp.

Canamex Resources Corp.

September 13, 2011 08:00 ET

Canamex Resources Corp.: Airborne Geophysical Survey at Aranka North Property in Guyana Yields Fifteen Large Anomalies for Follow-up Work

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 13, 2011) - Canamex Resources Corp. (the "Company") (TSX VENTURE:CSQ)(FRANKFURT:CX6) is very pleased to report on the preliminary results of interpretive work being performed on airborne magnetic and radiometric data acquired over the Aranka North Property in Guyana by International Geophysical Services, LLC in Lakewood, Colorado.

The initial interpretive work has identified fifteen large, discrete anomalies, all of which have dimension of 2-4 kilometers long and 1-3 kilometers wide within larger shear zones. Two strong NE-trending shear zones are identified in the airborne magnetic data, which juxtapose granitic rocks against metasedimentary and metavolcanic rocks, are similar to the host structural environment of the major shear-zone hosted gold deposits in Ghana. Ghana boasts production and current reserves of over 120 million ounces of gold from shear zone hosted gold deposits. The geology in Ghana shares similar characteristics with the geology in Guyana, the two terrains having been separated from one another by rifting that formed the Atlantic Ocean. In addition, there is a strong E-W shear zone and a NW-trending shear zone that extend across the entire property that also juxtapose granitic rocks against metavolcanic and metasedimentary rocks, which bear similarities to the shear zones that host some of the major multi-million ounce gold deposits in Guyana (Toroparu, Omai) and in adjacent Surinam (Rosebel).

All of the discrete anomalies are defined by high potassium readings within otherwise potassium poor metasedimetary and metavolcanic rocks and occur along the major shear contacts with a granitic batholith. Sericite alteration is a common feature of the gold deposits in these shear zone hosted terranes, and potassium is a major component of the sericite. These anomalies tend to occur along the southern margin of a large granitic body that continues off the geophysical survey block to the north and east. The granite is shaped like a southward facing prow; a shear zone forms one of the flanks of the prow, with potassium anomalies appearing to emanate from the prow of the granite.

The British Geological Survey commented on the gold deposits in Guyana in 1938:

"…the contact and near-contact (gold) deposits which form an important proportion of the goldfields of the Colony (now Guyana) occur mainly along the southern margins of batholiths e.g. Aranka, Aremu, Pipirni, Tamakay and Issineru. There would thus appear to be some additional structural control which determines the provenance of this type of mineralization (along the southern contacts of the granites)...".

The majority of the geophysical anomalies at Aranka North match this historical description extremely well.

International Geophysical Services LLC ("IGS") will continue to interpret the airborne geophysical data, as there are many more smaller-sized anomalies to select and prioritize. However, the work completed to date is sufficient to prioritize the top fifteen anomalies for follow-up work. All of these anomalies lie within the central portion of the airborne survey flight block, and it is the recommendation of IGS that the central portion of the flight block be flown with a helicopter airborne EM system to map resistivity in these anomaly areas and identify the presence of sulfides where possible. Resistivity lows and sulfides characterize most of the gold deposits in the Precambrian shear zone hosted gold deposits in Ghana and Guyana.

A helicopter EM system is currently in Guyana, and the Company will attempt to arrange an airborne EM survey over the central portion of the land package once the interpretations of the existing geophysical data are final and a follow-up survey has been designed.

Additionally, access reconnaissance has demonstrated we have unfettered river access to the heart of the land package up the Waini River, with an excellent camp site along the river bank located near the southern tip of the granite body, in proximity to the top priority fifteen anomalies referenced above.

Geotech Airborne Surveys was the prime airborne geophysical contractor to GMV Minerals Inc. ("GMV"). Chris Campbell of Intrepid Geophysics provided survey planning and oversight along with QC\QA services to GMV and processed the data. Canamex purchased the processed data from GMV as part of its Option and Joint Venture Agreement with GMV (see July 6, 2011 press release).

Gregory A. Hahn, C.PG, President, CEO and Chairman of the Company, (CPG#7122), is the Qualified Person who has reviewed the content of this press release for compliance with NI 43-101 reporting requirements.


Gregory A. Hahn, Chairman and CEO

This news release includes certain forward-looking statements or information. All statements other than statements of historical fact included in this release are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Canamex expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation.

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.

Contact Information

  • Canamex Resources Corp.
    Gregory A. Hahn
    Chairman and CEO
    (604) 718-2800
    (604) 718-2808 (FAX)