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bunnyhodep
10-09-2015,
Carmax Mining (CXM.V) - Survey Exposes Massive Copper Deposit

http://financialpress.com/2014/09/10/new-technological-survey-exposes-massive-copper-deposit/

bmhmugerfum
10-09-2015,
NEWS - Intersects Long Intervals of Copper-Molybdenite Mineralization on Eaglehead Property



WEST VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sept. 17, 2014) - Carmax Mining Corp. (TSX VENTURE:CXM) ("Carmax") is pleased to provide its shareholders with an update on the current diamond drilling program on its 100% owned Eaglehead copper-gold-molybdenum-silver located in northwest British Columbia. Highlights for the three diamond drill holes completed to date are:

Highlights:

Diamond drill hole DDH 0121 with a core length of 551.08m intersected bornite-chalcopyrite-molybdenite mineralization over the core interval of 29.87m to 551.08m. The diamond drill hole ended in chalcopyrite-bornite +/- molybdenite mineralization and the mineralization is open at depth,
DDH 0122 intersected chalcopyrite+/-bornite +/- molybdenite mineralization over the core interval 9.01m to 441.96m. The diamond drill hole ended in chalcopyrite-molybdenite mineralization and the mineralization is open at depth,
DDH 0123 intersected chalcopyrite+/-bornite +/- molybdenite mineralization over the core interval 51.57m to 621.18m. The diamond drill hole ended in chalcopyrite mineralization and the mineralization is open at depth,
The Quantec Titan-24 chargeability signature show a strong positive correlation to the visual observation of copper and molybdenite mineralization in the 2014 drill holes in line with the correlation between the chargeability signature and the presence of copper mineralization reported in the historical holes, and
The first of the analytical results for the 2014 drill holes is expected towards the end of September-early October and will reported on when reviewed and compiled.
http://web.tmxmoney.com/article.php?newsid=70345785&qm_symbol=CXM

BernardWeri
10-09-2015,
"Ahead of the Herd" Commences Coverage on

Carmax Mining (CXM.V)

Ahead of the Herd provides original content in the form of articles and interviews, we screen dozens of contributors articles every day for publication and we search the web for news regarding the various resource sectors.

http://aheadoftheherd.com/Advertising/Sponsor_Page/Carmax/index.html

awidusauehewi
10-11-2015,
Resource Stock Report - Copper

Carmax Mining Corp.
Stmbol: CXM.V
October, 2014

“With considerable historic work and recent work by Carmax their Eagle-head Copper/Moly project is well advanced so there is really no risk of discovery. It is really a matter of advancing the project to upgrade the resource tonnage and grade.”

“There is also a huge vote of confidence in the project and company with Copper Fox's investment.”




Carmax Mining Corp.

Shares outstanding 55.5 million Copper Fox (TSXV:CUU) owns 42%


What intrigues me about CXM is a number of things;


They have a very experienced Board in mineral exploration and the stock is cheap


They are in one of the best copper districts in British Columbia with many discoveries/deposits nearby.


There Eaglehead project is 100% owned and already advanced with a 43-101 inferred resource
approximately 662 million pounds copper, 22 million pounds molybdenum and 265,000 ounces gold.


The Inferred Mineral Resource estimate totals 102.5 million tonnes at an average grade of 0.29% Cu, 0.010% Mo, and 0.08 g/t Au. The resources were estimated at a cut-off grade of 0.16% copper equivalent ("CuEq")


The reported grades in the resource are most likely quite understated and I will explain that in the property section


From 1971 to 2011, a total of 33,202 metres has been drilled in 120 drill holes. However many of these holes were not assayed or only partially assayed and seldom for Moly, Gold and Silver.


They just completed a financing and are probably the only TSXV company I have seen in some time that was forced to raise the price of their financing from $0.05 to $0.07


Currently a $1.2 million exploration budget completed that includes about 5 deep drill holes


They released preliminary data on 3 holes and all were in mineralization for several 100 metres,
roughly close to surface down to 450 to 620 metres or so. All bottomed in containerization.

The chargeability signature from the 2014 Quantec survey suggests continuity of the
mineralization in the East zone to the northeast towards the Bornite zone. This area between the two mineralized zones which has not been drill tested – but is in current program


The biggest factor however is the support of Copper Fox, with the Teck Cominco connection.


Copper Fox took down 20 million units of the recent 24 million unit financing and now owns a 42%interest in CMX


I would say Copper Fox TSXV:CUU is an expert in copper and in British Columbia. At $0.20 Copper Fox has a market cap of about $80 million. They own 25% of Schaft Creek (Teck 75%). Teck is paying $60M for their 75% and incurring the cost to go to production. This BC project has about 1 billion pounds of copper with Moly and Gold, and similar grades to CXM's Eaglehead, even though CXM Eaglehead grades are understated.


Copper Fox – Schaft Creek - Combined Measured and Indicated Mineral Resource of 1,035.3 Mt grading 0.27% Cu, 0.017% Mo, 0.18 g/t Au and 0.45% CuEq


- Inferred Mineral Resource of 301.3 Mt grading 0.24% Cu, 0.011% Mo, 0.14 g/t Au and 0.37% CuEq.


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 and 265,000 ounces gold.

However, there is a lot of historic drill holes that have not been confirmed, so when the resource
estimate was made, the engineering firm gave credit for the tonnage outlined with historic holes but assigned a grade of ZERO – this had the effect of lowering the average grade.


Copper Fox knows this and I think they got involved here because they know the grades here are probably higher that what they have at Schaft Creek that Teck is bringing into production.


I am pretty confident that grades are very good, we just need more tonnage


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 chargeability signature from the 2014 Quantec survey suggests continuity of the mineralization the East zone to the northeast towards the Bornite zone. This area between the two mineralized zones which has not been drill tested.


One of the drill holes in the current program is testing in between these two zones, if it hits? That will indicate strong potential that this deposit is a lot larger.


Other drill holes are in known zones


From 1971 to 2011, a total of 33,202 metres has been drilled in 120 drill holes.


The 2011 drill program, was conducted by CXM which was 25 holes totalling 8,300 meters.


The 2011 program indicated extensions to previously known mineralization in the East and Bornite zones, with Cu, Mo, and Au values with grades ranging from 0.16% Cu to 3.33% Cu over drill core intervals ranging from 3 m to 161 m.


The NI 43-101 report Inferred Mineral Resources estimate includes only two of the six mineralized target areas that have been identified on the property. The resources are based on program of diamond drilling 8,300 meters in 25 holes in 2011, as well as historical drilling.

The historic drill core is all on the property and the company plans on re logging this core, assaying sections that were not completed and upgrading this all in a modern data base.

Historically for the most part, the majors only assayed sections that showed visible signs of
mineralization. They were looking more for higher grade instead of the bulk tonnage that is common today.


Once CXM brings this historic data into the model, typically if they twin a number of the historic holes and data is consistent the engineering firm will then except the historic data in the resource model.


If done today, this historic drilling of over 90 holes would easily be valued between $15 to $20 million while Carmax only has a $5 million market cap.

arkeyuhejapej
10-11-2015,
Summary


With considerable historic work and recent work by Carmax their Eagle-head Copper/Moly project is well advanced so there is really no risk of discovery. It is really a matter of advancing the project to upgrade the resource tonnage and grade.


There is also a huge vote of confidence in the project and company with Copper Fox's investment.


Even at today's depressed prices at a bottom, Copper Fox has a market cap of $73 million with 25% of their Schaft Creek project so the market has a valuation on that project of $292 million.

This gives an idea of the potential of Carmax's Eaglehead project that is located in the same area of B.C, perhaps about 100kms from Schaft Creek.

It will take further funding to advance the Eaglehead project to feasibility and just exercise of Copper Fox's warrants would help in this regard, but if we assume further dilution from the current 55 million shares to 100 million or 150 million shares


To be conservative we could assume a valuation around half of Copper Fox's Schaft Creek so lets say $150 million.


With dilution to 100 million shares we are looking at a stock price of $1.50

With dilution to 150 million shares we are looking at a stock price of $1.00 per share


I might add that Copper Fox was up around $0.60 /$0.70 a share in 2013 when the completed their Feasibility and deal with Teck Cominco and $1.20 per share in 2012. So obvious if we see an improved mining market we could see much higher valuations.