Carmax Mining Corp.
TSX VENTURE : CXM

Carmax Mining Corp.

December 07, 2011 09:00 ET

Carmax Reports Partial Results of 2011 Field Program

WEST VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 7, 2011) - Carmax Mining Corp. ("Carmax") (TSX VENTURE:CXM) is pleased to announce that it has now received results from 9 of the 25 holes drilled in the 2011 exploration season on the East Zone and Bornite Zone target areas of its Eaglehead Cu-Mo project located in northwestern British Columbia. The total program consisted of the drilling of 8,300 meters in 25 holes. All samples of split diamond drill core were forwarded to and assayed by ACME labs of Vancouver.

The results to date indicate extensions to previously known mineralized zones with Cu, Mo, Ag, and Au values with grades ranging from 0.16% Cu to 0.84% Cu over intervals ranging from 3 m to 87 m. The following is a summary of the results received from the 9 holes:

CARMAX MINING CORP.
EAGLEHEAD PROJECT
2011 INTERIM DRILLING RESULTS
EAST ZONE DRILL HOLES
Hole ID Intersection (m) Interval
(m)
% Cu % Mo g/t Ag g/t Au
From To
96 19.5 29.6 10.1 0.21 0.000 1.00 0.063
46.5 51.5 5.0 0.46 0.010 0.90 0.095
60.5 66.5 6.0 0.33 0.005 0.40 0.014
89.0 95.0 6.0 0.39 0.001 4.40 0.708
105.5 111.5 6.0 0.19 0.003 0.50 0.007
132.5 158.0 25.5 0.25 0.006 0.70 0.151
205.0 210.0 5.0 0.24 0.000 2.20 0.012
226.0 231.0 5.0 0.22 0.005 1.20 0.071
238.0 325.8 87.8 0.23 0.005 1.10 0.024
100 22.0 54.0 32.0 0.24 0.000 0.60 0.010
138.0 149.0 11.0 0.84 0.022 1.80 0.051
169.0 197.0 28.0 0.37 0.024 1.10 0.131
239.0 244.0 5.0 0.28 0.002 0.50 0.010
251.0 304.0 53.0 0.47 0.010 1.90 0.056
321.0 334.0 13.0 0.18 N/A N/A 0.010
351.0 375.0 24.0 0.24 N/A N/A 0.010
414.0 423.0 9.0 0.42 N/A N/A 0.218
436.0 450.0 14.0 0.22 N/A N/A 0.027
473.0 518.0 45.0 0.28 0.010 1.20 0.040
101 154.0 160.0 6.0 0.39 0.002 1.30 0.024
188.0 193.0 5.0 0.37 0.002 0.60 0.011
216.0 264.0 48.0 0.26 0.011 0.90 0.028
102 24.0 58.0 34.0 0.52 0.008 2.90 0.043
71.0 91.0 20.0 0.19 0.001 0.30 0.004
151.0 155.0 4.0 0.18 0.000 0.60 0.018
205.0 216.0 11.0 0.27 0.016 1.10 0.035
238.0 259.0 21.0 0.24 0.009 1.20 0.198
307.0 324.0 17.0 0.18 0.003 0.60 0.046
350.0 353.0 3.0 0.21 0.003 0.50 0.026
103 38.0 66.0 28.0 0.70 0.001 2.30 0.014
109.0 120.0 11.0 0.17 0.002 0.30 0.012
142.0 150.0 8.0 0.19 0.006 0.50 0.015
186.0 191.0 5.0 0.60 0.001 0.40 0.031
213.0 225.0 12.0 0.22 0.018 1.00 0.049
233.0 270.0 37.0 0.20 0.004 0.80 0.050
104 38.0 47.0 9.0 0.23 0.000 0.40 0.010
66.0 84.0 18.0 0.26 0.000 1.10 0.012
96.0 108.0 12.0 0.32 0.001 1.30 0.039
120.0 124.0 4.0 0.19 0.002 1.10 0.015
135.0 146.0 11.0 0.55 0.005 1.70 0.018
196.0 200.0 4.0 0.20 0.050 0.50 0.017
248.0 251.0 3.0 0.36 0.012 1.60 0.054
286.0 294.0 8.0 0.40 0.012 1.50 0.030
347.0 350.0 3.0 0.31 0.014 1.90 0.153
BORNITE ZONE DRILL HOLES
Hole ID Intersection (m) Interval
(m)
% Cu % Mo g/t Ag g/t Au
From To
115 90.0 93.0 3.0 0.39 0.001 0.30 0.015
178.0 194.0 16.0 0.27 0.001 0.70 0.084
201.0 204.0 3.0 0.21 0.000 0.60 0.022
213.0 227.0 14.0 0.20 0.001 0.80 0.018
247.0 268.0 21.0 0.23 0.009 0.30 0.009
306.0 309.0 3.0 0.20 0.004 0.80 0.042
328.0 351.0 23.0 0.16 0.001 1.30 0.047
363.0 374.0 11.0 0.29 0.007 0.60 0.013
116 14.0 36.0 22.0 0.38 0.002 2.20 0.058
44.0 72.0 28.0 0.29 0.003 0.90 0.072
142.0 181.0 39.0 0.50 0.030 1.40 0.106
188.0 251.0 63.0 0.51 0.016 1.80 0.554
258.0 261.0 3.0 0.30 0.003 3.10 0.322
277.0 281.0 4.0 0.30 0.009 0.20 0.008
295.0 300.0 5.0 0.21 0.006 0.40 0.027
316.0 318.4 2.4 0.32 0.006 4.40 0.506
119 222.0 227.0 5.0 0.80 0.010 1.60 0.012
236.0 241.0 5.0 0.31 0.002 1.10 0.051
287.0 309.0 22.0 0.27 0.002 1.10 0.095
338.0 347.0 9.0 0.32 0.003 2.60 0.206

Exploration to date has outlined at least six areas with porphyry-type copper-molybdenum mineralization on the property. Prior published drill results had indicated that the East Zone hosts at least ten zones of west-northwest trending porphyry type Cu-Mo mineralization within variably hydrothermally altered granodioritic rocks. In general, low grade gold and silver values are associated with Cu-Mo mineralization. Past exploration on the Bornite Zone has also revealed at least eight areas of Cu-Mo mineralization with similar orientation to the East Zone. The individual mineralized zones in both areas range in horizontal thickness from 5 m to 70 m and extend more than 400 m at depth within hydrothermally altered and mineralized zones that are approximately 500 m wide and 700 m to 800 m long.

The 25 additional holes drilled in 2011 are expected to further delineate the size and extent of the mineralization at the East Zone and Bornite Zone target areas.

Jevin Werbes, President of Carmax, states, "We are very pleased with the results received so far from the 2011 summer exploration program. The results indicate a potential for bulk mineable porphyry style copper-molybdenum mineralization."

Results from the remaining 16 holes will be published as received in the future.

Hrayr Agnerian, P.Geo. a Director of Carmax, is the qualified person as defined in NI 43-101, and has reviewed the technical information contained in this news release.

Jevin Werbes, President

For further information, please visit the website at www.sedar.com to view the Company's profile or contact Jevin Werbes at 604-921-1810.

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

  • Carmax Mining Corp.
    Jevin Werbes
    604-921-1810
    604-921-1898 (FAX)