The Tireo Belt is an Upper Cretaceous aged package of volcanic and sedimentary rocks spanning from central Dominican Republic through to Haiti.
Regional Tireo Trend Discoveries
In addition to the GoldQuest discoveries, recent work by Unigold Inc has led to several discoveries on its Neita project located to the northwest of GoldQuest within similar geology. Unigold is drilling at Neita in advance of preparation of a maiden 43-101 compliant resource calculation for the Candelones zone. Further to the northwest on the Haitian side of the border JV partners Eurasian Minerals and Newmont are drilling at the Savane La Place prospect on their La Miel project. La Miel is described as epithermal mineralization occurring in the same Tireo rock sequence where previous trenching has returned up to 243 metres grading 1.71 g/t gold (Eurasian Minerals website).
The Tireo Trend recently gained major prominence when GoldQuest announced its latest discovery, Romero, north of Escandalosa on the Las Tres Palmas concession. Highlights from drill results released by GoldQuest to date from Romero including the following notable intercepts (GoldQuest website):
Hole 90: 231 metres grading 2.41 g/t Gold and 0.44% CopperHole 92: 159 metres grading 4.45 g/t Gold and 0.95% CopperHole 93: 258 metres grading 4.50 g/t Gold and 1.30% Copper
Mineralization at Romero, like Escandalosa, is hosted by Upper Tireo dacites. The Romero discovery remains open in all directions.
Carmax is a Canadian company engaged in exploration for bulk tonnage copper-molybdenum deposits in northwestern British Columbia. The company also has gold and silver projects in Ontario. Currently its main asset is the Eaglehead project in northern British Columbia, with an NI 43-101 compliant inferred resource of 103 million tonnes at average grades of 0.29% Cu, 0.010% Mo and 0.08 g/t Au (company release July 4, 2012). Carmax has 27,515,998 shares outstanding and trades on the TSX Venture Exchange (TSX-V) under the symbol CXM.
Chris M. Healey, P.Geo., a Director of Carmax, is a qualified person as defined in NI 43-101, and has reviewed and approved the technical information contained in this news release.
Jevin Werbes, President
Cautionary Statement on Forward Looking Statement
Certain information contained in this news release, including information as to our strategy, projects, plans or future financial or operating performance and other statements that express management's expectations or estimates of future performance, constitute "forward looking statements". Actual results may differ materially from those indicated by such statements. All statements, other than historical fact, included herein, including, without limitations statements regarding future production, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.
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.
Carmax Mining Corp.