Canamex starts gold exploration in Aranka

Another Canadian mining company has launched exploration activities for gold here and has identified areas on its property where it feels gold deposits are located.

In a press release last month, Canamex Resources Corporation announced that it has commenced exploration activities on its Aranka North property in Guyana, acquired under an option agreement with GMV Minerals Inc. The property covers some 98,057 acres in the North-West District. According to reports, in addition to the US$500,000 to be paid to GMV over the course of three years, the company also plans to expend some US$1 million in its exploration efforts between now and 2013.

“This is an exciting time for Canamex, as it launches its exploration activities in one of the largest emerging gold districts in the world. The Aranka North property is at the northeastern end of a trend of gold deposits containing, among others, the Toroparu deposit of Sandspring Resources and the Aurora and Sulfur Rose deposits of Guyana Goldfields, which combined contain an estimated 14 million ounces of gold,” President and Chief Executive Officer of the company, Greg Hahn was quoted as saying.

The release said the company continues to negotiate several other acquisitions at key locations in the Guyana goldfields.

Brian Doubt has been hired as Operations Manager for the company’s wholly-owned subsidiary in Guyana, Canamex (Guyana) Inc. Doubt was most recently Logistics Manager for Guyana Goldfields in Guyana, with previous employment experience as Field or Logistics Manager for Shoreham Resources (now Guyana Frontier Resources), Hunter Dickenson, Newmont, and many others over the course of his career. Doubt is a dual Canadian-Guyanese citizen and resides with his family in Guyana, the statement said.

The company has acquired the airborne geophysical data that was acquired by GMV over the Aranka North property, and preliminary results of interpretive work being performed on the data by International Geophysical Services, LLC in Lakewood, Colorado identified fifteen large, discrete anomalies, the statement said. It said that IGS will continue to interpret the airborne geophysical data, as there are many more smaller-sized anomalies to select and prioritize. However, the work completed to date is sufficient to prioritize the top fifteen anomalies for follow-up work.

Veteran miner, Deryck Khan, has been appointed country manager.

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