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| January 27, 2009 | |
| Carmax Explorations Ltd.: Exploration Update-Eaglehead and Whiskeyjack Projects | |
| VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 27, 2009) - Carmax Explorations Ltd. (TSX VENTURE:CMX) - Eaglehead Carmax Explorations Ltd. is pleased to announce the results of its 2008 Exploration program completed on the Eaglehead property in northwestern British Columbia. The work program, consisted primarily of diamond drilling focused on expanding the excellent results received from the East Zone in the 2006-2007 exploration season (see news release dated April 9, 2008). A total of 14 holes totaling 5495 meters (18,029 ft) were drilled of which 13 holes were in the East Zone and 1 hole (DDH #95) was drilled to test a previously unexplored 3-D IP anomaly in the Far East Zone. A total of 95 holes have now been drilled on the property of which 59 are historical holes drilled prior to 1980 and 36 have been drilled by Carmax since 2006. The 2008 results continue to expand the mineralized zone both down dip and to the east from both historical drill hole #55 and last years drill hole #79 both of which experienced high grade intercepts repeated in hole #87 which averaged 3.162% Cu, 1.308% Mo, 26.0gm Ag, 18.67gm Au over 3.05 metres (see table below for complete averages). All assay averages reported are weighted averages. ---------------------------------------------------------------------------
Cu Mo Ag Au
DRILL HOLE METERS % % gm/t gm/t
---------------------------------------------------------------------------
82 30.48-419.71 0.29 0.046 1.085 0.065
equals 389.23
Located 50m east of ------------------------------------------------------
#79 returned the incl. 30.48-195.38 0.543 0.080 2.56 0.086
following averages equals 164.90
------------------------------------------------------
incl. 120.55-160.63 1.397 0.235 8.75 0.280
equals 40.08
---------------------------------------------------------------------------
---------------------------------------------------------------------------
83 30.48-397.15 0.196 0.010 0.139 0.096
equals 366.67
Located 50m north ------------------------------------------------------
of #82 returned the incl. 88.70-206.20 0.330 0.014 0.259 0.306
following averages equals 117.50
---------------------------------------------------------------------------
---------------------------------------------------------------------------
84 23.16-447.14 0.240 0.015 0.522 0.056
equals 423.98
Located 50m south ------------------------------------------------------
of #82 returned the incl. 144.47-340.00 0.390 0.021 0.603 0.089
following averages equals 195.53
------------------------------------------------------
incl. 147.98-263.35 0.508 0.028 1.022 0.108
equals 115.37
---------------------------------------------------------------------------
---------------------------------------------------------------------------
85 93.57-108.81 0.322 0.004 less 0.020
equals 15.24 than
Located 50m east 5
of #84. This hole ------------------------------------------------------
drilled to the 181.97-212.45 0.173 less less 0.037
south intersected equals 30.48 than than
fine grained 0.001 5
porphyry with
an increase in
pyrite content and
returned the
following averages
---------------------------------------------------------------------------
---------------------------------------------------------------------------
86 33.53-453.24 0.318 0.028 0.898 0.073
equals 419.71
Located 50m west of ------------------------------------------------------
#84 returned the incl. 139.29-453.24 0.367 0.035 1.118 0.091
following averages equals 313.95
------------------------------------------------------
incl. 249.02-453.24 0.395 0.047 1.387 0.097
equals 204.13
------------------------------------------------------
incl. 398.37-453.24 0.716 0.029 2.233 0.092
equals 54.87
---------------------------------------------------------------------------
---------------------------------------------------------------------------
87 18.29-431.90 0.271 0.020 2.277 0.249
equals 413.61
Located 50m west of ------------------------------------------------------
#86 and 50m south incl. 23.47-47.85 0.574 0.001 2.625 less
of #77 returned the equals 24.38 than
following averages 0.01
------------------------------------------------------
incl. 102.71-267.31 0.337 0.011 4.019 0.158
equals 164.59
------------------------------------------------------
incl. 102.71-121.01 1.973 0.070 29.667 1.155
equals 18.30
------------------------------------------------------
incl. 331.32-389.23 0.397 0.108 2.105 1.040
equals 57.92
------------------------------------------------------
incl. 349.60-352.65 3.162 1.308 26.00 18.67
equals 3.05
---------------------------------------------------------------------------
---------------------------------------------------------------------------
88 42.67-401.42 0.227 0.021 0.733 0.064
equals 358.75
Located 55m north ------------------------------------------------------
of #79 and 50m west incl. 114.91-166.73 0.594 0.113 4.94 0.206
of #83 returned the equals 51.82
following averages ------------------------------------------------------
incl. 114.91-273.41 0.369 0.041 1.615 0.111
equals 158.50
---------------------------------------------------------------------------
---------------------------------------------------------------------------
89 28.04-396.54 0.203 0.002 0.96 0.013
equals 398.50
Located at 1+35N on ------------------------------------------------------
line 15+00E at 150m incl. 236.22-384.05 0.34 0.004 0.65 0.015
south west of #69A equals 147.83
and 120m south ------------------------------------------------------
westerly of incl. 257.56-384.05 0.383 0.003 0.66 0.015
historical hole equals 126.49
#59. This hole ------------------------------------------------------
intersected incl. 295.35-376.43 0.467 0.004 1.04 0.019
porphyry with equals 81.08
pyrite initially ------------------------------------------------------
with increasing incl. 295.35-347.16 0.568 0.004 1.62 0.021
k-feldspar equals 51.82
alteration and ------------------------------------------------------
chalcopyrite incl. 323.70-350.06 0.793 0.004 2.55 0.029
at depth equals 26.36
---------------------------------------------------------------------------
---------------------------------------------------------------------------
90 161.54-172.52 0.186 less less 0.025
equals 10.98 than than
Located at 1+00N 0.001 5
on line 14+00E at ------------------------------------------------------
100m westerly 205.74-230.12 0.276 0.008 less 0.052
of #89. This hole equals 24.38 than
intersected porphyry 5
with pyrite with ------------------------------------------------------
increasing 326.75-362.10 0.273 0.013 less 0.044
K-feldspar equals 35.35 than
alteration and 5
chalcopyrite
at depth
---------------------------------------------------------------------------
---------------------------------------------------------------------------
91 132.28-162.00 0.130 0.001 less 0.015
equals 29.72 than
Located at 2+00N 5
on line 13+00E at ------------------------------------------------------
150m northwesterly 175.56-190.04 0.158 less less less
of #90. This hole equals 14.48 than than than
intersected 0.002 5 0.001
porphyry with ------------------------------------------------------
pyrite then minor 235.92-241.10 0.194 0.002 less 0.011
chalcopyrite with equals 5.18 than
biotite quartz 5
diorite at depth
---------------------------------------------------------------------------
---------------------------------------------------------------------------
92 23.16-441.96 0.203 0.007 0.366 0.029
equals 418.80
Located 100m south ------------------------------------------------------
of #74 and 50m south incl. 64.62-441.96 0.217 0.008 0.411 0.032
of #62 intersected equals 377.34
the following ------------------------------------------------------
averages incl. 82.91-124.05 0.359 0.005 0.315 0.050
equals 41.15
------------------------------------------------------
incl. 95.098-124.05 0.436 0.006 less 0.022
equals 28.96 than
5
------------------------------------------------------
incl. 266.39-292.0 0.482 0.023 0.593 0.034
equals 25.60
------------------------------------------------------
incl. 246.28-441.96 0.260 0.014 0.727 0.055
equals 195.68
------------------------------------------------------
incl. 356.01-441.96 0.360 0.022 1.206 0.110
equals 85.95
---------------------------------------------------------------------------
---------------------------------------------------------------------------
93 39.62-435.25 0.230 0.017 1.926 0.072
equals 395.63
Located 50m east of ------------------------------------------------------
#62 and 50m west of incl. 218.85-435.25 0.305 0.031 2.042 0.128
#87 intersected the equals 216.40
following averages ------------------------------------------------------
incl. 331.62-432.21 0.424 0.060 3.121 0.166
equals 100.58
------------------------------------------------------
incl. 371.25-432.21 0.571 0.098 5.15 0.268
equals 60.96
------------------------------------------------------
incl. 371.25-401.73 0.919 0.179 10.30 0.441
equals 30.48
---------------------------------------------------------------------------
---------------------------------------------------------------------------
94 54.86-423.06 0.186 0.006 1.214 0.043
equals 368.20
Located 50m north ------------------------------------------------------
of #93 intersected incl. 54.86-203.30 0.250 0.005 0.394 0.034
the following equals 148.44
averages ------------------------------------------------------
incl. 99.67-175.87 0.325 0.006 0.544 0.055
equals 76.20
------------------------------------------------------
incl. 331.32-410.57 0.239 0.011 2.346 0.088
equals 79.25
---------------------------------------------------------------------------
---------------------------------------------------------------------------
Au
DRILL HOLE METERS gm/t
---------------------------------------------------------------------------
95 23.93-26.37 equals 2.44m 0.19
---------------------------------
Located at 1140N on line 169+00E. 37.03-39.62 equals 2.59m 0.12
This hole was completed to a depth ---------------------------------
of 213.66m to test a 3-D induced 54.47-60.66 equals 5.18m 0.11
polarization anomaly not previously ---------------------------------
drilled. No copper or molybdenite of 78.79-87.02 equals 8.23m 0.11
significance was intersected but ---------------------------------
several intervals of gold were 78.79-95.25 equals 16.46 0.167
indicated ---------------------------------
107.90-113.39 equals 5.49 0.88
---------------------------------
131.98-134.72 equals 2.74 1.10
---------------------------------
137.01-139.75 equals 2.74 0.12
---------------------------------------------------------------------------
Samples were crushed and pulverized to 200 mesh and fire assayed for Ag and Au and 1:1:1 Aqua Regia digestion ICP-ES analysis. The soil samples were dried at 60 degrees C, sieved 100g to - 80 mesh and analyzed for 36 elements using 1:1:1 Aqua Regia digestion ICP-MS analysis for Cu and Mo. All historical and new drill hole data has now been digitized in order to create 3d block models of each of the mineralized zones. The interactive PDF views for both the Bornite and East zones can be viewed on the Carmax web site. Drill hole survey and assay data have been forwarded to the company's independent consultant for the purpose of calculating resource estimates and to plan the location of future infill and step out drill targets. Whiskeyjack The winter drill program consisting of 3 diamond drill holes has been completed by Carmax's JV partner Alexandria Minerals. The three holes were drilled stepping out from drill hole MAT-08-7 drilled in late 2007 which returned 2.25 g/t Au over 6.00m at a depth of 165.5m. Assays are pending. John R. Poloni, P.Eng. is the qualified person responsible for the technical data presented in this News Release. ERNEST S. PETERS, PRESIDENT/DIRECTOR |
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