Friday, March 23, 2012

Canamex detects large gold mineralization area in Guyana

Canamex Resources Corporation announced that it has detected a large area of gold mineralization at its Aranka North gold exploration project in Guyana. The company discovered anomalous gold with values ranging up to 12,234 ppb (12.234 gpt) Au in the stream sediment samples and pan concentrates at its exploration site.

“The results of follow-up stream sediment sampling are extremely exciting, and support the interpretation that there is a large 2.5 kilometers wide by 5 kilometers long area of gold mineralization that appears to be the source for historic and current alluvial gold operations in the subject area we are now identifying as the Ridge Anomaly,” stated Chairman and CEO Greg Hahn.

The company said eighteen streams drain the Ridge Anomaly, and all of them contain anomalous gold. Values range from 2.8 ppb to 12,224 ppb Au, and twelve of the streams contain over 100 ppb gold. Visible gold in stream sediment and pan concentrates from this area is fine-grained and needle- shaped with very sharp edges, suggesting it has not been transported very far. Most of these sample locations are within 1 kilometer of the headwaters of the streams draining the Ridge Anomaly, suggesting very close proximity to the source of the gold. A map of the Ridge Anomaly area is available on the Canamex web site at

An additional 50 stream sediment and pan concentrate samples are currently in process in Acme Analytical Laboratories, Vancouver, BC. Follow-up stream sediment sampling from several other previously identified anomalous drainages east of the main camp and along the Waini River detected gold anomalies in those drainages, but results from all samples taken in those drainages have not been received yet, so those results will be reported separately after all data have been received. Results are expected in early April.

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