WEST VANCOUVER, BRITISH COLUMBIA--(Marketwired - April 25, 2013) - Carmax Mining Corp. (TSX VENTURE:CXM) ("Carmax") is pleased to announce that planning is underway for the 2013 field season on the Eaglehead property. It is anticipated that work will focus on following up on the very positive drill results from 2011, and on the NI 43-101 Mineral Resource announced in 2012 (see company release July 4, 2012).
The Inferred Mineral Resource estimate totals 102.5 million tonnes at an average grade of 0.29% Cu, 0.010% Mo and 0.08 g/t Au. The resources were estimated at a cut-off grade of 0.16% CuEq, and contain approximately 662 million pounds copper, 22 million pounds molybdenum, and 265,000 ounces gold. The Mineral Resources are contained within two conceptual open pits, the East and Bornite zones, and constitute approximately 69% of total mineralization above the grade cut-off.
|0.99% Cu, 0.001% Mo, 4.90 g/t Ag, 0.060 g/t Au over 21 m in hole 99A|
|0.84% Cu, 0.022% Mo, 1.80 g/t Ag, 0.051 g/t Au over 11 m in hole 100|
|0.47% Cu, 0.004% Mo, 0.80 g/t Ag, 0.028 g/t Au over 35 m in hole 105|
|0.27% Cu, 0.006% Mo, 1.40 g/t Ag, 0.063 g/t Au over 66 m in hole 107|
|0.45% Cu, 0.007% Mo, 1.00 g/t Ag, 0.034 g/t Au over 37 m in hole 110|
|0.47% Cu, 0.004% Mo, 3.60 g/t Ag, 0.082 g/t Au over 35 m also in hole 110|
|0.58% Cu, 0.013% Mo, 6.40 g/t Ag, 0.202 g/t Au over 34 m in hole 112B|
|0.54% Cu, 0.029% Mo, 2.30 g/t Ag, 0.284 g/t Au over 161 m in hole 114|
|0.55% Cu, 0.009% Mo, 1.20 g/t Ag, 0.015 g/t Au over 20 m in hole 120|
|0.45% Cu, 0.013% Mo, 1.30 g/t Ag, 0.132 g/t Au over 31 m also in hole 120|
Four additional mineralized zones, with similar grades and thicknesses, have been identified through drilling. Further drilling is required to fully evaluate these zones.
About the Eaglehead Project
The Eaglehead Cu-Mo Project is located approximately 1,100 km north of Vancouver and approximately 48 km east of Dease Lake, a town of approximately 200 people, in northwestern British Columbia. The northwest-southeast oriented property extends approximately 28 km along strike from Eaglehead Lake at its northwestern extremity to approximately 8 km past Tournigan River in the southeastern part of the property. The property comprises 31 mineral claims consisting of 613 cells covering a total area of approximately 11,410 hectares (ha) in the Liard Mining Division of British Columbia.
Carmax is a Canadian company engaged in exploration for bulk tonnage copper-molybdenum deposits in northwestern British Columbia. The company also has gold and silver projects in Ontario.
Chris M. Healey, P.Geo., a Director of Carmax, is a qualified person as defined in NI 43-101, and has reviewed and approved the technical information contained in this news release.
Jevin Werbes, President
Cautionary Statement on Forward Looking Statement
Certain information contained in this news release, including information as to our strategy, projects, plans or future financial or operating performance and other statements that express management's expectations or estimates of future performance, constitute "forward looking statements". Actual results may differ materially from those indicated by such statements. All statements, other than historical fact, included herein, including, without limitations statements regarding future production, 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.