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CANEX Reports Cyanide Soluble Gold Recoveries of 94 to 99% from Bottle Roll Tests at Gold Range, Arizona Drill Rig Mobilizing

CALGARY, AB / ACCESSWIRE / September 8, 2021 / CANEX Metals Inc. (TSXV:CANX) ("CANEX" or the "Company") is pleased to announce exceptional cyanide soluble…

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CALGARY, AB / ACCESSWIRE / September 8, 2021 / CANEX Metals Inc. (TSXV:CANX) ("CANEX" or the "Company") is pleased to announce exceptional cyanide soluble gold recoveries from bottle roll test work on mineralized samples from the Gold Range Project, Arizona.

Highlights

  • Metallurgical test work on 8 bottle roll samples from the Gold Range Project achieved final cyanide soluble gold recoveries ranging from 94 to 99%, averaging 97%.
  • The test work showed rapid leach kinetics with the majority of gold extracted within the first 6 hours, and maximum extraction almost complete within 24 hours.
  • Sodium cyanide and lime consumption are well within acceptable levels and the overall results indicate Gold Range gold mineralization is well suited for heap leach recovery.
  • A drill rig is being mobilized to the project and drilling should commence shortly.

Dr. Shane Ebert, President of the Company stated, "The bottle roll samples were mainly taken from the Eldorado and Excelsior Zones and represent a range of gold grades from varying depths in the system. We are very encouraged to see exceptional recoveries from throughout the mineralized zone, demonstrating the system could be amenable to heap leach processing and significantly de-risking the bulk tonnage heap-leach exploration concept at Gold Range."

Bottle Roll Test Work

Eight samples of mineralized reverse circulation drill cuttings from the Gold Range Project were submitted to SGS Laboratories in Burnaby British Columbia for bottle roll testing to better understand the cyanide soluble gold recovery and leach characteristics of the Gold Range mineralization. Four of the samples were from the Eldorado zone, three samples were from the Excelsior zone, and one sample was from the Contact Zone located between Eldorado and Excelsior. The samples represent low grade gold mineralization (0.2 g/t gold), intermediate grade mineralization (0.5 to 0.8 g/t gold), and higher-grade zones (2 to 3.4 g/t gold) and were from a range of depths from 7 to 64 metres down hole.

Each sample was air-dried then crushed to 100% passing 10 mesh. A 1 kg charge from each sample was subject to standard leach conditions (cyanide concentration of 0.5 g/L NaCN with 48 hour retention time) and assayed at 0, 2, 6, 24, and 48 hours.

Summary of bottle roll test results from Gold Range

Drill HoleDepthZoneFeedLeachNaCNCaOAu GradeAu GradeAu
   MassK80ConsumptionConsumptionResidueCalc. HeadRecovery
 ft gµmkg/tkg/tg/tg/t%
GR21-1895-100Eldorado1000530.23950.73200.043.4098.8
GR21-1925-30Eldorado1000550.37101.28950.010.1994.7
GR21-25180-185Eldorado1000540.30031.21030.062.7097.8
GR21-25205-210Eldorado1000610.28420.90280.010.6698.5
GR21-3020-25Contact1000580.29631.39410.040.7194.3
GR21-3660-65Excelsior1000610.28781.45590.030.7796.1
GR21-3665-70Excelsior1000630.28491.21780.010.6398.4
GR21-3750-55Excelsior1000630.32430.96690.032.0898.6
          
        Average97.1%

Sodium cyanide and lime consumption where well within acceptable levels at 0.24 to 0.32 kg/t and 0.7 to 1.5 kg/t, respectively. All of the samples were found to be non-refractory and appear to contain fee milling gold. The samples display rapid leach kinetics, with the majority of gold extracted within the first 6 hours and maximum extraction almost complete within 24 hours.

Gold leach kinetics from Gold Range samples

Drill HoleDepthZoneAu Leach Kinetics - % Au recovery
 ft 2 hours6 hours24 hours48 hours
GR21-1895-100Eldorado48.085.4101.498.8
GR21-1925-30Eldorado61.485.0100.494.7
GR21-25180-185Eldorado67.489.895.697.8
GR21-25205-210Eldorado63.691.993.998.5
GR21-3020-25Contact79.080.393.494.3
GR21-3660-65Excelsior67.382.091.996.1
GR21-3665-70Excelsior59.170.892.298.4
GR21-3750-55Excelsior53.470.691.098.6

The results confirm that the mineralized zones recently discovered at the Gold Range project are well suited to heap leach extraction methods and reinforces the Company's objective of exploring for and defining zones of bulk tonnage gold mineralization.

Drill Program Update - RC Drilling About to Commence

A track mounted reverse circulation drill rig is currently being mobilized to the Gold Range Project. An announcement will be made once drilling has commenced. This third round of drilling will consist of approximately 50 drill holes and in excess of 3000 metres and will focus on stepping out and expanding new gold discoveries and testing new targets.

About CANEX Metals

CANEX Metals (TSX.V:CANX) is a Canadian junior exploration company focused on advancing its Gold Range Project in Northern Arizona. Led by an experienced management team, which has made three notable porphyry and bulk tonnage discoveries in North America, CANEX has identified and tested several targets which host the potential for bulk tonnage oxide gold mineralization at its Gold Range Project. Recent drilling has identified near surface bulk tonnage gold potential along a recently identified trend extending from the Eldorado to Excelsior Zones. Hole GR21-37 from Excelsior returned 1.6 g/t gold over 35.1 metres including 8.2 g/t gold over 4.6 metres. These new discoveries occur along a 3 kilometre long highly prospective mineralized trend that has seen limited modern exploration.

The Company remains focused on testing and advancing key exploration targets on the Gold Range Property through continued exploration and drilling.

Dr. Shane Ebert P.Geo., is the Qualified Person for CANEX Metals and has approved the technical disclosure contained in this news release.

"Shane Ebert",

Shane Ebert
President/Director

For Further Information Contact:

Shane Ebert at 1.250.964.2699 or 
Jean Pierre Jutras at 1.403.233.2636
Web: http://www.canexmetals.ca

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.

Except for the historical and present factual information contained herein, the matters set forth in this news release, including words such as "expects", "projects", "plans", "anticipates" and similar expressions, are forward-looking information that represents management of CANEX Metals Inc. internal projections, expectations or beliefs concerning, among other things, future operating results and various components thereof or the economic performance of CANEX. The projections, estimates and beliefs contained in such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause CANEX's actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. These risks and uncertainties include, among other things, those described in CANEX's filings with the Canadian securities authorities. Accordingly, holders of CANEX shares and potential investors are cautioned that events or circumstances could cause results to differ materially from those predicted. CANEX disclaims any responsibility to update these forward-looking statements.

SOURCE: CANEX Metals Inc.



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Today’s News

UEX Repays Loan From Denison

 

Saskatoon, Saskatchewan – TheNewswire – September 17, 2021 – UEX Corporation (TSX:UEX)  (OTC:UEXCF) (“UEX” or the “Company”) is pleased…

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Saskatoon, Saskatchewan – TheNewswire - September 17, 2021 – UEX Corporation (TSX:UEX)  (OTC:UEXCF) (“UEX” or the “Company”) is pleased to announce that the Company has repaid its outstanding term loan (the “Term Loan”) from Denison Mines Corp. (“Denison”).  The Term Loan was used by UEX to purchase JCU (Canada) Exploration Company, Limited (“JCU”), as more particularly described in UEX’s news release dated August 3, 2021.

 

UEX repaid the outstanding balance of C$20.45 million to Denison on September 17, 2021.   Previously, C$20.5 million of the Term Loan was repaid upon UEX transferring 50% of the JCU shares to Denison immediately following the closing of the JCU acquisition (see UEX’s news release dated August 3, 2021).  The shares of JCU owned by UEX that were pledged as security to Denison have been released to UEX.

 

About UEX

UEX is a Canadian uranium and cobalt exploration and development company involved in an exceptional portfolio of uranium projects. 

UEX’s directly-owned portfolio of projects is located in the eastern, western and northern perimeters of the Athabasca Basin, the world's richest uranium belt which in 2020 accounted for approximately 8.1% of the global primary uranium production.  In addition to advancing its uranium development projects through its ownership interest in JCU,  UEX is currently advancing several other uranium deposits in the Athabasca Basin which include the Paul Bay, Ken Pen and Ōrora deposits at the Christie Lake Project , the Kianna, Anne, Colette and 58B deposits at its currently 49.1%-owned Shea Creek Project, the Horseshoe and Raven deposits located on its 100%-owned Horseshoe-Raven Development Project and the West Bear Uranium Deposit located at its 100%-owned West Bear Project.

UEX is also 50:50 co-owner of JCU with Denison.  JCU’s portfolio of projects includes interests in some of Canada’s key future uranium development projects, notably a 30.099% interest in Cameco’s Millennium Uranium Development Project, a 10% interest in Denison Mines Wheeler River Project, and a 33.8123% interest in Orano Canada’s Kiggavik Project, located in the Thelon Basin in Nunavut, as well as minority interests in nine other grassroots uranium projects in the Athabasca Basin.

UEX is also leading the discovery of cobalt in Canada, with three cobalt-nickel exploration projects located in the Athabasca Basin of northern Saskatchewan, including the only primary cobalt deposit in Canada.  The 100% owned West Bear Project hosts the West Bear Cobalt-Nickel Deposit, the newly discovered Michael Lake Co-Ni Zone, and the West Bear Uranium Deposit.  UEX also owns 100% of two early-stage cobalt exploration projects, the Axis Lake and Key West Projects.

FOR FURTHER INFORMATION PLEASE CONTACT

Roger Lemaitre

President & CEO

(306) 979-3849

Forward-Looking Information

This news release contains statements that constitute "forward-looking information" for the purposes of Canadian securities laws. Such forward-looking information is based on a number of assumptions, which may prove to be incorrect. The actual results could differ materially from those anticipated in such forward-looking information as a result of the risk factors including: the timing and content of work programs; results of exploration activities of mineral properties; the interpretation of drilling results and other geological data; and general market and industry conditions. Many of these factors are beyond the control of UEX. Consequently, all forward-looking information contained in this news release is qualified by this cautionary statement and there can be no assurance that actual results or developments anticipated by UEX will be realized. For the reasons set forth above, investors should not place undue reliance on such forward-looking information. Except as required by applicable law, UEX disclaims any intention or obligation to update or revise forward-looking information, whether as a result of new information, future events or otherwise.

Copyright (c) 2021 TheNewswire - All rights reserved.

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Today’s News

American Manganese Files Final Prospectus and Amended Disclosure Documents

VANCOUVER, BC / ACCESSWIRE / September 17, 2021 / American Manganese Inc. (TSXV:AMY)(OTCQB:AMYZF)(FSE:2AM)("AMY" or the "Company") is pleased to announce…

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VANCOUVER, BC / ACCESSWIRE / September 17, 2021 / American Manganese Inc. (TSXV:AMY)(OTCQB:AMYZF)(FSE:2AM)("AMY" or the "Company") is pleased to announce that the Company has filed on SEDAR (www.sedar.com) its final short form base shelf prospectus and an amended technical report (the "Amended Technical Report") for its Rocher Deboule mineral property (the "Property"). The Company has also filed and an amended annual information form for the year ended July 31, 2020 (the "Amended AIF").

As a result of a prospectus review by the British Columbia Securities Commission, certain revisions were made to the technical report for the Property which was originally published on October 25, 2020. The Amended Technical Report contains no material differences to the original technical report for the Rocher Deboule Project. The Amended AIF incorporates the executive summary from the Amended Technical Report and is thus accordingly amended; it contains no material differences from the original annual information form filed on June 8, 2021.

About American Manganese Inc.

American Manganese Inc. is a critical metals company focused on the recycling of lithium-ion batteries with the RecycLiCo™ patented process. The RecycLiCo™ patented process was developed to offer a closed-loop and environmentally friendly solution for the recycling of cathode materials used in lithium-ion batteries. The recycling process provides high extraction and purity of cathode metals, such as lithium, cobalt, nickel, manganese, and aluminum. The RecycLiCo™ process was designed with the goal to produce recycled battery products that could be seamlessly and directly integrated into the re-manufacturing of battery cathodes using minimal processing steps.

For more information, please contact:
Larry W. Reaugh
President and Chief Executive Officer
Telephone: 778 574 4444
Email: lreaugh@amymn.com

www.americanmanganeseinc.com
www.recyclico.com

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. This news release may contain "forward-looking statements", which are statements about the future based on current expectations or beliefs. For this purpose, statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements by their nature involve risks and uncertainties, and there can be no assurance that such statements will prove to be accurate or true. Investors should not place undue reliance on forward-looking statements. The Company does not undertake any obligation to update forward-looking statements except as required by law.

SOURCE: American Manganese Inc.



View source version on accesswire.com:
https://www.accesswire.com/664647/American-Manganese-Files-Final-Prospectus-and-Amended-Disclosure-Documents

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Today’s News

Erin Ventures Announces Proposed Private Placement

VICTORIA, BC / ACCESSWIRE / September 17, 2021 / Erin Ventures Inc. ("Erin" or the "Company") (TSXV:EV) announces that, subject to the approval of the…

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VICTORIA, BC / ACCESSWIRE / September 17, 2021 / Erin Ventures Inc. ("Erin" or the "Company") (TSXV:EV) announces that, subject to the approval of the TSX Venture Exchange (the "TSXV"), it intends to complete a private placement offering of up to 6,666,667 units of the Company ("Units") at a price of $0.075 per Unit for gross proceeds of approximately $500,000 (the "Offering").

Each Unit in this Offering will be comprised of one (1) common share in the capital of the Company (a "Share") and one (1) common share purchase warrant (each, a "Warrant"). Each Warrant will have a two (2) year term and will be exercisable into one (1) Share at a price of $0.10.

The Warrants also have an acceleration clause whereby if the Common Shares trade on the TSXV at a price equal or greater than the designated trigger price of $0.15 for more than ten (10) consecutive trading days during the Exercise Period, Erin shall have the right to give written notice to the holder requiring the holder to exercise the Warrant, in whole or in part, within a period of thirty (30) days from the date of receipt of notice from Erin.

The Common Shares and Warrants comprising the Units will be subject to a four-month and one day hold period in accordance with the policies of the TSXV and applicable securities legislation. The Private Placement remains subject to the approval of the TSXV.

The net proceeds from this financing will be used to fund further development of its wholly owned Piskanja boron project in Serbia, and for working capital purposes.

On behalf of the Board of Directors,
Blake Fallis, General Manager

About Erin Ventures
Erin Ventures Inc. is an international mineral exploration and development company with boron assets in Serbia. Headquartered in Victoria, B.C., Canada, Erin's shares are traded on the TSX Venture Exchange under the symbol "EV" and the OTCQB Venture Market under the symbol "ERVFF". For detailed information please see Erin's website at www.erinventures.com or the Company's filed documents at www.sedar.com.

For further information, please contact: 
Erin Ventures Inc. 
Blake Fallis, General Manager 
Phone: 1-250- 384-1999 or 1-888-289-3746
info@erinventures.com
www.erinventures.com

Erin's Public Quotations
Canada
TSX Venture: EV
USA
OTCQB: ERVFF
Europe
Berlin: EKV

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.

Forward Looking Statements:
This release contains forward looking statements. The words "believe," "expect," "feel," "plan," "anticipate," "project," "could," "should" and other similar expressions generally identify forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements. These forward-looking statements are subject to a number of risks and uncertainties including, without limitation, variations in estimated costs, the failure to discover or recover economic grades of minerals, and the inability to raise the funds necessary, changes in external market factors including commodity prices, and other risks and uncertainties. Actual results could differ materially from the results referred to in the forward-looking statements.

SOURCE: Erin Ventures Inc.



View source version on accesswire.com:
https://www.accesswire.com/664589/Erin-Ventures-Announces-Proposed-Private-Placement

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