Carmax mining (TSX.V:CXM) is engaged in exploration for porphyry copper-gold-molybdenum deposits in northwestern British Columbia. CXM’s Eaglehead property hosts porphyry style copper-molybdenum-gold-silver mineralization. Past work has identified six mineralized zones on the property.

 

Latest News Release

Carmax Announces Update on Activities and Start of 2016 Program for Eaglehead Property

Carmax Mining Corp. expects to commence the 2016 field program on its 100-per-cent-owned Eaglehead porphyry copper property located in Northern British Columbia on or about June 6, 2016. Highlights of the Phase I work completed to date are outlined below:

 

Phase I Highlights:

 

-The drill holes and sample intervals for the additional preliminary metallurgical testing to be completed in 2016 have been selected. The collection of these samples is expected to be completed by mid-late June; -The analysis of the pulps for the 2011 diamond drilling program have been completed using a four acid digestion. These pulps were analyzed for a suite of 34 elements. The data is being compiled and results will be released on completion thereof; -The physical parameters of the samples representing various lithologies/alteration collected in 2014 and 2015 to aid in modelling/constraining of the 6,000m long chargeability/resistivity signature has been determined. This data is now being incorporated into the geophysical modelling process; -The geophysical modelling has outlined several significant features and structures that were not previously known. Work to determine what if any control these features had on the mineralization in the Eaglehead project is ongoing; and -Compilation work strongly indicates that prospecting of the project in the area west of the Camp and West zones as well as east of the Quantec Line 2 and 3 should be completed.

 

Jevin Werbes, President of Carmax commented, "The work completed this year continues to standardize the project data base, an important criteria required to move the project forward. Compilation, modelling and constraining of the geophysical signature continue to support our interpretation that the Eaglehead project could host a large porphyry copper system. The Phase II portion of the 2016 program commences in early June and is a continuation of the work completed in 2014 and 2015. The amount of diamond drilling to be completed will be determined after the current re-logging and re-sampling program has been completed."

 

A number of historical drill holes from the East zone and the Bornite zone have been selected for re-logging and sampling/re-sampling to clear up "legacy" data issues related to lithology/alteration modelling and sulphide species distribution in these zones.

 

Project Data Base:

 

The compilation work suggests that several areas of the property should be prospected for porphyry and skarn style copper mineralization. The area located east of the Pass and Camp zones contain a number of copper-molybdenum showings. The geophysical signature and lithologies in the area west of the Camp and West zones suggest the potential for copper skarn mineralization. Both areas will be prospected as a first phase to assess each area prior to more detailed work being completed.

 

Geophysical Modelling:

 

The work completed to constrain the chargeability/resistivity signature (6,000m long by 900m wide) has identified several features that were not previously know. Quantec has recommended additional Titan-24 DCIP surveying to gain a better control on the recently identified features. This recommendation is currently under consideration.

About the Eaglehead Project

 

The property is located in northwestern British Columba and hosts an NI 43-101 Inferred Mineral Resource estimated to total 102.5 million tonnes at an average grade of 0.29% Cu, 0.010% Mo and 0.08 g/t Au. The report, filed on Sedar at www.sedar.com was prepared by RPA Inc. and was previously announced in a Carmax news release dated May 16, 2012. The resource was estimated at a cut-off grade of 0.16% CuEq, to contain approximately 662 million pounds copper, 22 million pounds molybdenum, and 265,000 ounces gold. The Mineral Resource is contained within two conceptual open pits covering the East and Bornite zones.

 

Legal Notice / Disclaimer

 

 

This document is not and should not be construed as an offer to sell or the solicitation of an offer to purchase or subscribe for any investment.

 

Richard Mills has based this document on information obtained from sources he believes to be reliable but which has not been independently verified.

 

Richard Mills makes no guarantee, representation or warranty and accepts no responsibility or liability as to its accuracy or completeness. Expressions of opinion are those of Richard Mills only and are subject to change without notice. Richard Mills assumes no warranty, liability or guarantee for the current relevance, correctness or completeness of any information provided within this Report and will not be held liable for the consequence of reliance upon any opinion or statement contained herein or any omission.

 

Furthermore, I, Richard Mills, assume no liability for any direct or indirect loss or damage or, in particular, for lost profit, which you may incur as a result of the use and existence of the information provided within this Report.

 


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