VANCOUVER, British Columbia, May 07, 2018 (GLOBE NEWSWIRE) -- Canamex Gold Corp. (the “Company” or “Canamex”) (CSE:CSQ) is pleased to announce that it has commenced baseline biological studies as the first step towards the permitting of mine development at the Bruner Gold Project, Nye County, Nevada, USA.
Baseline Biological Studies
Canamex has signed a services agreement with Western Biological for the commencement of baseline biological studies for permitting of the Bruner Gold Project for mine development. The objective of the biological study is to establish baseline biological data across the property for both the Phase 1 and Phase 2 development scenarios outlined in the Preliminary Economic Assessment (“PEA”) announced on 7th January 2018 and released on 25th January 2018. Initial studies involve an extensive helicopter-supported raptor survey across the property and within a 10-mile radius surrounding the proposed mine development site. That survey commenced 25th April 2018. Additional baseline studies will follow throughout Q2 2018 to provide the foundation for mine development permitting. Welsh Hagen Associates, in Nevada, will manage the baseline studies and permitting process on behalf of the Company.
Comments from Management
Greg Hahn, President and COO of the Company: “Commencement of baseline biological studies is the first and primary step in the mine development permitting process. This establishes the path forward that the Company has committed to take to bring the Bruner Gold Project through permitting, and to a shovel-ready status for a production decision and construction financing.”
David Vincent, Chief Executive Officer of the Company: “With the commencement of the permitting process, the Board of the Company is currently considering various options for project development and potential construction financing of the Bruner Gold Project. Further details will be announced once a decision has been made.”
About the Company
Canamex Gold Corp. is a public listed company registered in British Columbia, Canada, trading on the Canadian Stock Exchange (CSE), and is engaged in fast-tracking toward development of the Bruner Gold Development Project in the prolific gold jurisdiction of Nye County, Nevada. The region is home to several producing and past-producing mines along the Walker Lane Trend. Canamex completed a positive Preliminary Economic Assessment (PEA) on the Bruner Gold Development Project in 2016. Based on additional drilling conducted on the property, the company completed an updated PEA in 2018, which increased the resources and improved the economics of the project. Canamex is now moving the Bruner Gold Project forward into permitting and development on the strength of this positive updated PEA and the improving gold price environment. The second asset is the Silverton Gold property, a gold exploration project, in Nevada, which has geological similarities to the Long Canyon gold deposit in Nevada, being mined by Newmont Mining. Canamex has signed Agreements with Harmonychain AS, for Ethereum Blockchain Smart Contract Tokens for Gold and Silver, as an alternative means of raising capital, potentially without equity dilution. The Agreements secure the exclusive rights to 6 (Six) Ethereum Token domain names, ticker codes, and associated smart contracts, for Gold and Silver. Further information is available at https://canamexgold.com
Greg Hahn (CPG#7122), President & COO of the Company is the qualified person who has reviewed and approved all technical disclosures in this release.
ON BEHALF OF THE BOARD
David Vincent
Chief Executive Officer and Director
david.vincent@canamexgold.com
Mike Stark
Chairman of the Board
Contact: (604) 833-4278
mike.stark@canamexgold.com
The Canadian Securities Exchange accepts no responsibility for the adequacy or accuracy of this release.