Canex expands Gold Range property in Arizona
Following a recent airborne magnetic survey that allowed it to identify new exploration targets, Canex Metals (TSXV: CANX) increased its land holdings at the Gold Range property in Arizona.
In a press release, the miner said that it staked 73 additional lode mining claims, which resulted in nearly doubling the size of the property from 552 hectares to 1,043 hectares.
The new development also led the company to file an appended exploration permit application with the Bureau of Land Management to allow for an expanded trenching and drilling program to include the new targets. Once the amended permit has been received, Canex plans to run a second trenching program.
The Gold Range property is located in northern Arizona within an area that has seen historic lode and placer gold production but limited systematic modern lode gold exploration.
Canex reports that its fieldwork has identified numerous gold exploration targets with grab samples from outcropping quartz veins returning multiple values in the 20 to 40 g/t gold range, and chip sampling returning values of 28.1 g/t gold over 1 metre and 8.47 g/t gold over 5.6 metres.