Carmax Mining Corp. (CXM-TSX.V) is a publicly traded Canadian exploration company focused on exploring and developing copper, gold and silver properties with the potential to host world class economic deposits.
The Company currently has interests in two highly prospective projects:
- Eaglehead in the prolific Quesnel Trough in northwestern BC;
- Whiskey Jack on the Kirkland - Larder Lake break in northern Ontario.
The Company owns a 100% interest in the Eaglehead Cu-Mo Project, which is located approximately 1,100 km north of Vancouver and approximately 48 km east of Dease Lake, a town of approximately 200 people, in northwestern British Columbia. The northwest-southeast oriented property extends approximately 28 km along strike from Eaglehead Lake at its northwestern extremity to approximately 8 km past Tournigan River in the southeastern part of the property. The property comprises 31 mineral claims consisting of 613 cells covering a total area of approximately 11,410 hectares (ha) in the Liard Mining Division of British Columbia.
The property hosts an NI 43-101 Inferred Mineral Resource of 102.5 million tonnes at an average grade of 0.29% Cu, 0.010% Mo, 1.9 g/t Ag, and 0.08 g/t Au. The resources were estimated at a cut-off grade of 0.16% copper equivalent (“CuEq”) and contain approximately 662 million pounds copper, 22 million pounds molybdenum, 6.3 million ounces silver, and 265,000 ounces gold.
The Mineral Resources are contained within two conceptual open pits, the East and Bornite zones, and constitute approximately 69% of total mineralization above the grade cut-off.
The Whiskey Jack property lies in the southwest part of the Abitibi Greenstone belt, along the Kirkland – Larder Lake break near Matachewan. The Kirkland – Larder Laker break has produced 34 million ounces of gold. The Whiskey Jack property is adjacent to AuRico Gold’s Young-Davidson mine which has a proven and probable reserve of 3.7 million ounces as of December 31, 2013. Carmax is presently developing a joint venture agreement with Alexandria Minerals Corp. who has completed its 50% earn-in.