WEST VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 7, 2011) - Carmax Mining Corp. ("Carmax") (TSX VENTURE:CXM) is pleased to announce that it has now received results from 9 of the 25 holes drilled in the 2011 exploration season on the East Zone and Bornite Zone target areas of its Eaglehead Cu-Mo project located in northwestern British Columbia. The total program consisted of the drilling of 8,300 meters in 25 holes. All samples of split diamond drill core were forwarded to and assayed by ACME labs of Vancouver.
The results to date indicate extensions to previously known mineralized zones with Cu, Mo, Ag, and Au values with grades ranging from 0.16% Cu to 0.84% Cu over intervals ranging from 3 m to 87 m. The following is a summary of the results received from the 9 holes:
| CARMAX MINING CORP. | |||||||
| EAGLEHEAD PROJECT | |||||||
| 2011 INTERIM DRILLING RESULTS | |||||||
| EAST ZONE DRILL HOLES | |||||||
| Hole ID | Intersection (m) | Interval (m) |
% Cu | % Mo | g/t Ag | g/t Au | |
| From | To | ||||||
| 96 | 19.5 | 29.6 | 10.1 | 0.21 | 0.000 | 1.00 | 0.063 |
| 46.5 | 51.5 | 5.0 | 0.46 | 0.010 | 0.90 | 0.095 | |
| 60.5 | 66.5 | 6.0 | 0.33 | 0.005 | 0.40 | 0.014 | |
| 89.0 | 95.0 | 6.0 | 0.39 | 0.001 | 4.40 | 0.708 | |
| 105.5 | 111.5 | 6.0 | 0.19 | 0.003 | 0.50 | 0.007 | |
| 132.5 | 158.0 | 25.5 | 0.25 | 0.006 | 0.70 | 0.151 | |
| 205.0 | 210.0 | 5.0 | 0.24 | 0.000 | 2.20 | 0.012 | |
| 226.0 | 231.0 | 5.0 | 0.22 | 0.005 | 1.20 | 0.071 | |
| 238.0 | 325.8 | 87.8 | 0.23 | 0.005 | 1.10 | 0.024 | |
| 100 | 22.0 | 54.0 | 32.0 | 0.24 | 0.000 | 0.60 | 0.010 |
| 138.0 | 149.0 | 11.0 | 0.84 | 0.022 | 1.80 | 0.051 | |
| 169.0 | 197.0 | 28.0 | 0.37 | 0.024 | 1.10 | 0.131 | |
| 239.0 | 244.0 | 5.0 | 0.28 | 0.002 | 0.50 | 0.010 | |
| 251.0 | 304.0 | 53.0 | 0.47 | 0.010 | 1.90 | 0.056 | |
| 321.0 | 334.0 | 13.0 | 0.18 | N/A | N/A | 0.010 | |
| 351.0 | 375.0 | 24.0 | 0.24 | N/A | N/A | 0.010 | |
| 414.0 | 423.0 | 9.0 | 0.42 | N/A | N/A | 0.218 | |
| 436.0 | 450.0 | 14.0 | 0.22 | N/A | N/A | 0.027 | |
| 473.0 | 518.0 | 45.0 | 0.28 | 0.010 | 1.20 | 0.040 | |
| 101 | 154.0 | 160.0 | 6.0 | 0.39 | 0.002 | 1.30 | 0.024 |
| 188.0 | 193.0 | 5.0 | 0.37 | 0.002 | 0.60 | 0.011 | |
| 216.0 | 264.0 | 48.0 | 0.26 | 0.011 | 0.90 | 0.028 | |
| 102 | 24.0 | 58.0 | 34.0 | 0.52 | 0.008 | 2.90 | 0.043 |
| 71.0 | 91.0 | 20.0 | 0.19 | 0.001 | 0.30 | 0.004 | |
| 151.0 | 155.0 | 4.0 | 0.18 | 0.000 | 0.60 | 0.018 | |
| 205.0 | 216.0 | 11.0 | 0.27 | 0.016 | 1.10 | 0.035 | |
| 238.0 | 259.0 | 21.0 | 0.24 | 0.009 | 1.20 | 0.198 | |
| 307.0 | 324.0 | 17.0 | 0.18 | 0.003 | 0.60 | 0.046 | |
| 350.0 | 353.0 | 3.0 | 0.21 | 0.003 | 0.50 | 0.026 | |
| 103 | 38.0 | 66.0 | 28.0 | 0.70 | 0.001 | 2.30 | 0.014 |
| 109.0 | 120.0 | 11.0 | 0.17 | 0.002 | 0.30 | 0.012 | |
| 142.0 | 150.0 | 8.0 | 0.19 | 0.006 | 0.50 | 0.015 | |
| 186.0 | 191.0 | 5.0 | 0.60 | 0.001 | 0.40 | 0.031 | |
| 213.0 | 225.0 | 12.0 | 0.22 | 0.018 | 1.00 | 0.049 | |
| 233.0 | 270.0 | 37.0 | 0.20 | 0.004 | 0.80 | 0.050 | |
| 104 | 38.0 | 47.0 | 9.0 | 0.23 | 0.000 | 0.40 | 0.010 |
| 66.0 | 84.0 | 18.0 | 0.26 | 0.000 | 1.10 | 0.012 | |
| 96.0 | 108.0 | 12.0 | 0.32 | 0.001 | 1.30 | 0.039 | |
| 120.0 | 124.0 | 4.0 | 0.19 | 0.002 | 1.10 | 0.015 | |
| 135.0 | 146.0 | 11.0 | 0.55 | 0.005 | 1.70 | 0.018 | |
| 196.0 | 200.0 | 4.0 | 0.20 | 0.050 | 0.50 | 0.017 | |
| 248.0 | 251.0 | 3.0 | 0.36 | 0.012 | 1.60 | 0.054 | |
| 286.0 | 294.0 | 8.0 | 0.40 | 0.012 | 1.50 | 0.030 | |
| 347.0 | 350.0 | 3.0 | 0.31 | 0.014 | 1.90 | 0.153 | |
| BORNITE ZONE DRILL HOLES | |||||||
| Hole ID | Intersection (m) | Interval (m) |
% Cu | % Mo | g/t Ag | g/t Au | |
| From | To | ||||||
| 115 | 90.0 | 93.0 | 3.0 | 0.39 | 0.001 | 0.30 | 0.015 |
| 178.0 | 194.0 | 16.0 | 0.27 | 0.001 | 0.70 | 0.084 | |
| 201.0 | 204.0 | 3.0 | 0.21 | 0.000 | 0.60 | 0.022 | |
| 213.0 | 227.0 | 14.0 | 0.20 | 0.001 | 0.80 | 0.018 | |
| 247.0 | 268.0 | 21.0 | 0.23 | 0.009 | 0.30 | 0.009 | |
| 306.0 | 309.0 | 3.0 | 0.20 | 0.004 | 0.80 | 0.042 | |
| 328.0 | 351.0 | 23.0 | 0.16 | 0.001 | 1.30 | 0.047 | |
| 363.0 | 374.0 | 11.0 | 0.29 | 0.007 | 0.60 | 0.013 | |
| 116 | 14.0 | 36.0 | 22.0 | 0.38 | 0.002 | 2.20 | 0.058 |
| 44.0 | 72.0 | 28.0 | 0.29 | 0.003 | 0.90 | 0.072 | |
| 142.0 | 181.0 | 39.0 | 0.50 | 0.030 | 1.40 | 0.106 | |
| 188.0 | 251.0 | 63.0 | 0.51 | 0.016 | 1.80 | 0.554 | |
| 258.0 | 261.0 | 3.0 | 0.30 | 0.003 | 3.10 | 0.322 | |
| 277.0 | 281.0 | 4.0 | 0.30 | 0.009 | 0.20 | 0.008 | |
| 295.0 | 300.0 | 5.0 | 0.21 | 0.006 | 0.40 | 0.027 | |
| 316.0 | 318.4 | 2.4 | 0.32 | 0.006 | 4.40 | 0.506 | |
| 119 | 222.0 | 227.0 | 5.0 | 0.80 | 0.010 | 1.60 | 0.012 |
| 236.0 | 241.0 | 5.0 | 0.31 | 0.002 | 1.10 | 0.051 | |
| 287.0 | 309.0 | 22.0 | 0.27 | 0.002 | 1.10 | 0.095 | |
| 338.0 | 347.0 | 9.0 | 0.32 | 0.003 | 2.60 | 0.206 | |
Exploration to date has outlined at least six areas with porphyry-type copper-molybdenum mineralization on the property. Prior published drill results had indicated that the East Zone hosts at least ten zones of west-northwest trending porphyry type Cu-Mo mineralization within variably hydrothermally altered granodioritic rocks. In general, low grade gold and silver values are associated with Cu-Mo mineralization. Past exploration on the Bornite Zone has also revealed at least eight areas of Cu-Mo mineralization with similar orientation to the East Zone. The individual mineralized zones in both areas range in horizontal thickness from 5 m to 70 m and extend more than 400 m at depth within hydrothermally altered and mineralized zones that are approximately 500 m wide and 700 m to 800 m long.
The 25 additional holes drilled in 2011 are expected to further delineate the size and extent of the mineralization at the East Zone and Bornite Zone target areas.
Jevin Werbes, President of Carmax, states, "We are very pleased with the results received so far from the 2011 summer exploration program. The results indicate a potential for bulk mineable porphyry style copper-molybdenum mineralization."
Results from the remaining 16 holes will be published as received in the future.
Hrayr Agnerian, P.Geo. a Director of Carmax, is the qualified person as defined in NI 43-101, and has reviewed the technical information contained in this news release.
Jevin Werbes, President
For further information, please visit the website at www.sedar.com to view the Company's profile or contact Jevin Werbes at 604-921-1810.
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.
Contact Information:
Jevin Werbes
604-921-1810
604-921-1898 (FAX)