Canamax increases Mt Hundere’s reserve

Geological reserves have been increased by Canamax Resources (TSE) on the company’s Mt. Hundere zinc-lead property near Watson Lake, Y.T.

Drilling has outlined reserves of 5.2 million tonnes grading 13.3% zinc, 5.3% lead and 63.8 g silver per tonne. The reserves incorporate a zinc-lead cutoff grade of 9% and a minimum width of 5 m.

The reserves are hosted in two zones, the Jewelbox Hill and North Hill. The former hosts 2.78 million tonnes grading 13.9% zinc, 8.9% lead and 80.2 g silver whereas the latter zone hosts 2.44 million tonnes grading 12.6% zinc, 1.1% lead and 45 g silver.

A higher grading core in the Jewelbox Hill deposit hosts 850,000 tonnes grading 17.6% zinc, 11.3% lead and 70.3 g silver per tonne, Canamax says.

The zinc-lead mineralization is hosted in subhorizontal stacked limestone replacement lenses averaging 7.7 m in thickness. The lenses lie within 200 m of surface and are accessible by decline ramp.

Metallurgical work suggests the coarse-grained material can produce a high grade lead and zinc concentrate with recoveries in excess of 90%. An underground exploration program and additional drilling is planned for next year.