(TheNewswire)
November 3, 2022 – TheNewswire- CALGARY, ALBERTA – CMX Gold & Silver Corp. ( CSE:CXC ) ; ( OTC:CXXMF ) (“CMX” or the “Company”) announces completionof its 2022 claims staking program surrounding its 100%-owned ClaytonSilver Property in Idaho, USA. The Company surveyed and staked 22lode claims on federal Bureau of Land Management land, addingapproximately 450 acres to CMX’s landholdings. The staking has addedsignificant prospective acreage to the Company’s silver/lead/zincproject, bringing the total land position to 1,134 acres, a 66%increase in the area covered. Prior to staking the new claims,CMX’s land position was comprised of 29patented mining claims and 2 patented mill sites aggregating 565acres, plus 6 lode claims aggregating 119 acres.
The 22 new claims are adjacent to and surround theCompany’s patented claims and cover the historic Rob Roy mineimmediately north of the Clayton patented claims. The Rob Roy mineproduced silver, lead and zinc from several underground workings. Limited information indicates the Rob Roy mine operated prior to the1950’s. CMX’s comprehensive review of the historical geologicaldata for the Clayton Mine suggests exploration potential formineralized vein systems and deposits on the new claims, in additionto exploration prospects adjacent to the previously mined south andnorth ore bodies on the patented Clayton Mine claims. Mineralizationon the Clayton Silver Property is open to the north, south and todepth, all of which is untested.
Jan Alston, President & CEO of CMX stated: “Animportant part of CMX’s strategy is to gain control of landsurrounding the Clayton Mine prior to starting our drilling program in2023. The property is very much underexplored and has significantupside potential to add shareholder value. We expect 2023 will be anexciting transformative year for CMX.”
Ore sorting testing results are pending for theCompany’s historic Clayton Mine stockpile, which is estimated tocontain up to 1,000,000 tonnes of metal-bearing rock. T he earlier 2014/15 evaluation program collected over 3,000kilograms of sample material from 16 locations selected to ensurerepresentative results. Analysis of the samples confirmed thepresence of gold in each sample. In particular, assays confirmedgold values up to 2.84 gm/t with an average of 0.80 gm/t for the 16locations sampled. Statistical averages of the 16 locations for themine stockpile sampling program were: gold – 0.80 gms/t; silver –24.31 gms/t; lead – 0.44%; zinc – 0.27%.
About the ClaytonSilver Project
CMX's 100%-owned Clayton Silver Property is located inthe mining-friendly State of Idaho, USA. The 1,134 acres property inCuster County in south-central Idaho includes the former Claytonsilver-lead-zinc mine. The Clayton Mine was developed on eightlevels to a depth of 1,100 feet below surface and is comprised ofapproximately 19,690 feet of underground development. Two major orebodies were partially mined: the “South Ore Body” and the “NorthOre Body”.
The recorded production from the Clayton Mine included7,031,110 oz silver, 86,771,527 lbs lead, 28,172,211 lbs zinc,1,664,177 lbs copper, and minor amounts of gold from an estimated2,145,652 tonnes of ore mined between 1934 and 1985.
Significant potential is demonstrated in hole 1501-A,drilled in the mid-1960’s, which penetrated the mineralized zone at1,425 feet. At that depth, the hole intercepted 22 feet of 4.07 oz(126 gms) Ag/t, 5.75% lead and 5.37% zinc (note: true width isunknown).
Technical and scientific information in this newsrelease was reviewed and approved by Richard Walker, M.Sc. (Geology),P.Geo., recognized as a Qualified Person under the guidelines ofNational Instrument 43-101. Readers are cautioned thathistorical information referenced in this news release is not NI43-101 compliant, but has been obtained from sources that the Companybelieves are reliable.
The CSE has notreviewed and does not accept responsibility for the adequacy oraccuracy of this news release.
For furtherinformation contact:
Robert d’Artois, Investor Relations at (604) 329-0845 bobdartois@cmxgoldandsilver.com
Jan M. Alston, President & C.E.O. at (403) 457-2697 janalston@cmxgoldandsilver.com
You can also visit the Company’s Website : www.cmxgoldandsilver.com
WARNING : theCompany relies upon litigation protection for "forwardlooking" statements. The information in this release may containforward-looking information under applicable securities laws. Thisforward-looking information is subject to known and unknown risks,uncertainties and other factors that may cause actual results todiffer materially from those implied by the forward-lookinginformation. Factors that may cause actual results to vary materiallyinclude, but are not limited to, inaccurate assumptions concerning theoperations of the Company, changes to securities regulationrequirements, other changes in laws or regulations, unanticipatedrisks of the COVID-19 pandemic crisis, changes in general economicconditions or conditions in the financial markets and the inability toraise additional financing. Readers are cautioned not to place unduereliance on this forward-looking information. The Company does notassume the obligation to revise or update this forward-lookinginformation after the date of this release or to revise suchinformation to reflect the occurrence of future unanticipated events,except as may be required under applicable securities laws.
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