Canamax, Bruneau up Clavos reserves

New reserve figures have been calculated by partners Canamax Resources and Bruneau Mining for the Clavos Porcupine Mines property, northeast of Timmins, Ont. Drill-indicated geological reserves stand at 580,000 tonnes grading 7.6g gold per tonne (0.22 oz gold per ton). Using a lower grade cut- off limit, the reserves increase to 1.1 million tonnes grading 5.1 g gold (0.15 oz gold per ton).

Work by Canamax has identified a series of gold deposits occurring in series along sections of the Pipestone fault, which strikes across the property. Pending a review of all technical data, the partners will consider a shaft-sinking program this year. Canamax and Bruneau hold a 66.66% and 33.33% interest in the property respectively. Clavos has a 27.5% net profits interest.