Canex Metals Inc. press release

Gold Basin Resources seeing positive results from drill program at Arizona Project

2023-07-28

TSXV - TSX Venture Exchange · Gold · Silver · Copper · Molybdenum · Arsenic · Canada

--News Direct--

Gold Basin Resources CEO Colin Smith joined Steve Darling from Proactive to share the preliminary results from the company's follow-up reverse-circulation drill program at the Gold Basin oxide gold project in Arizona.

The drill program has yielded multiple at- or near-surface oxide gold intercepts at the Red Cloud Deposit, with over 60 meters in thickness, including an impressive 69.08 meters at 1.03 grams per tonne (g/t) gold from 6.10 meters in hole CM23-022A. Additionally, the company has identified anomalous oxide gold intercepts 1,700 meters southeast of Red Cloud, including 3.04 meters at 0.13 g/t gold from 67.06 meters in drillhole CM23-047.

Furthermore, drilling has shown key near-surface oxide gold intercepts in the central "Gap Zone" between the Stealth Deposit and Red Cloud. The entire trend appears to be largely open at depth and along strike.

Smith also mentioned that follow-up fieldwork is being prepared for the 3.25-km-long, 1.7-km-long, and 1.0-km-long gold trends north and east of the Cyclopic Deposit, as well as the 7 new visible gold occurrences that were discovered during Q2 2023 soil and rock sampling.

The preliminary results from the drill program at the Gold Basin project are promising and indicate the potential for significant gold mineralization in the area. The company's focus on follow-up fieldwork and further exploration in different target areas demonstrates its commitment to unlocking the project's full potential and uncovering additional opportunities for gold discoveries.

Contact Details

Proactive Investors

+1 604-688-8158

na-editorial@proactiveinvestors.com

View source version on newsdirect.com: https://newsdirect.com/news/gold-basin-resources-seeing-positive-results-from-drill-program-at-arizona-project-601792903