Guyana: Canamex Commences Stream Sediment Sampling at Aranka North Property

Canamex Resources Corp.announces that it has commenced stream sediment sampling for gold on its Aranka North property located 120 – 140km northwest of Georgetown, Guyana. River reconnaissance has indicated excellent river access up the Waini and Imotai Rivers into the heart of the property. A base camp is being established at Maka Falls where historical activities in the area have been based previously.

Stream sediment sampling will evaluate the gold signature of the +15 airborne geophysical anomalies reported earlier, and surrounding areas. Previous stream sediment sampling by Golden Star and BHP in a 1996 joint venture regional stream sediment sampling program in northwestern Guyana sampled only the northern third of the Company’s Aranka North property. Four of the nine streams sampled on the Aranka North property in 1996 contained anomalous gold values. Those four streams with anomalous gold values drain two of the airborne geophysical anomalies reported earlier. Importantly, the southern two-thirds of the Aranka North property, which contain the other thirteen airborne geophysical anomalies, have never had stream sediment sampling. This entire area is south of the Waini and Imotai Rivers, where the vast majority of the airborne anomalies are located, and has never been explored.

Access reconnaissance up the Waini River also identified two areas of active alluvial gold mining operations utilizing 4 inch dredges, where miners are recovering sugar gold in the range of 1 – 2 ounces per day. These operations are in the vicinity of several of the airborne anomalies, and further support the potential for the presence of bedrock gold deposits on the property.

Active logging operations are currently underway in the southeast portion of the Aranka North property, where road access exists from Georgetown. The Company is planning on constructing an 8km road extension from the current logging road access to the Maka Falls camp site, to allow truck access to the camp site for further development of the project. The Waini River is fordable at Maka Falls, allowing road and vehicle access across the Waini River at this location to access several of the airborne anomalies located in the northwestern portion of the property, where the Golden Star – BHP joint venture detected anomalous gold in stream sediments in their 1996 reconnaissance survey.

“I am very pleased at the pace with which we are advancing exploration of the Aranka North property, and the favorable results we have generated to date to identify the bedrock source of the alluvial gold and the gold in stream sediment anomalies,” stated Greg Hahn, Chairman and CEO of the Company. “The combination of Waini River access and new road access will greatly facilitate the further exploration and development of the Aranka North property.”


Source: canamex, September 29, 2011

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