InvestmentPitch Media video discusses CanXGold’s new drilling program at its Phoenix property at the Greenwood Precious Metals project in southeast, BC, focused on large anomalies

InvestmentPitch Media and CanXGold Mining

InvestmentPitch Media and CanXGold Mining

VANCOUVER, British Columbia, Sept. 23, 2022 (GLOBE NEWSWIRE) — CanXGold Mining (TSXV:CXG) (OTCPink:GDMRD) (FSE:3G8C) has commenced a drilling program at its Phoenix property at the Greenwood Precious Metals project. in the Southeast, British Columbia. CanXGold, a short-term gold producer, has an extensive parcel of land, located east of Greenwood in southeastern British Columbia.

A media snippet accompanying this announcement is available by clicking the image or link below:

CanXGold has started a drilling program at its Phoenix property at the Greenwood Precious Metals project in southeastern BC, targeting large anomalies: CanXGold has started a drilling program at its Phoenix property at the Greenwood Precious Metals project in southeastern BC, targeting large anomalies

CanXGold has started a drilling program at its Phoenix property at the Greenwood Precious Metals project in southeastern BC, targeting large anomalies: CanXGold has started a drilling program at its Phoenix property at the Greenwood Precious Metals project in southeastern BC, targeting large anomalies

For more information, watch the InvestmentPitch Media video that provides additional information about this news and the company. The video is available to view at “investment pitch” and in “Youtube”. If these links are not enabled, please visit www.InvestmentPitch.com and enter “CanXGold” in the search box.

The company’s Phoenix property covers a total area of ​​approximately 9,817 hectares of extensively mineralized land with 29 previously producing mines, the largest of which is the former Phoenix copper-gold mine.

Underground mining began in Phoenix in 1900 and reached a peak delivery in 1913 of over a million tons of ore. Labor unrest at the Crowsnest Coalfield indirectly forced the closure of the Grand Forks smelter and mines in 1919. Strip mining restarted in Phoenix in 1959 at a rate of 2,750 tons per day from 1972 to closure in 1976, with a total production documented as 26,956,525 tons of ore containing 971,756 ounces of gold, 6,174,712 ounces of silver and 230,050 tons of copper.

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The Phoenix deposit was mined from the surface to about 140 meters deep, which corresponds to the base of Mesozoic strata, which overlie older Paleozoic strata. The Phoenix deposit is bedded and confined to Mesozoic rocks. As such, very little exploration was done to look for mineralization in the Paleozoic rocks below Phoenix and the possible source or feeder of the Phoenix deposit was never found.

If present, the style of mineralization is anticipated to be very different from that developed at the Phoenix mine. The Phoenix deposit is part of a skarn-type deposit formed by the replacement of carbonate rocks. Similar carbonate rocks are not common in Paleozoic strata, so skarn-type mineralization is unlikely to be found in these rocks. An example of mineralization in Paleozoic rocks is the Golden Crown deposit, a gold-copper sulfide vein system located 2-3 km southeast of Phoenix.

The first drill hole is targeting the middle of a large 1 km diameter conductivity anomaly identified in the 2022 VTEM survey, located near the historic Phoenix mine. Drilling is progressing and the well is now entering the target area, which is below 160 meters deep.

Management advises that the historical records referenced herein have been reviewed but not verified by a qualified person and further work is required to verify that the historical records referenced are accurate.

The shares are trading at $0.06. For more information, visit the company’s website at www.CanXGold.com, contact Christopher R. Anderson, Chief Executive Officer, at 604-288-2610 or email [email protected]

Disclaimer

The information in this video by Investmentpitch Media Ltd is for the information of viewers only. CanXGold has paid a fee not to exceed $2,000 in cash to produce its current press release in video format. Corporate information is based on information that is publicly available. Any information provided by Investmentpitch Media Ltd. through its media services should not be construed as a recommendation, suggestion or offer to buy or sell securities, but is provided solely as an informational media service. Investmentpitch Media Ltd makes no warranties or guarantees as to the accuracy or completeness of this information. All due diligence must be performed by the viewer or their financial advisor. Investing in securities is speculative and carries risks.

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