CXM.V Carmax Drills 521m Copper




Carmax Drilling Expands East Zone With Intersection of 0.37% CuEq Over 521.21m Including 1.53% CuEq Over 24m

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 14, 2014) - Carmax Mining Corp. ("Carmax") - Carmax (TSX VENTURE:CXM) is pleased to announce the analytical results for the first two drill holes from its 2014 diamond drilling program on its 100% owned Eaglehead copper-gold-molybdenum-silver project located in northwest British Columbia. To view the location of 2014 drill holes, visit the Carmax website at www.carmaxmining.com. Highlights for the two diamond drill holes are:

Highlights:

Diamond drill hole (DDH)0121 intersected 0.23% copper, 0.013% molybdenum, 0.06g/t gold and 0.91g/t silver (0.37% copper equivalent) over a core interval of 521.2m that included,

0.21% copper, 0.003% molybdenum, 0.02g/t gold and 0.51g/t silver over a core interval of 278.1m from the top of the hole at 29.87m to a core interval of 308.00m;

and

0.27% copper, 0.025% molybdenum, 0.09g/t gold and 1.36g/t silver over a core interval of 243.1m that extends from the core interval of 308.0m to the end of the hole at 551.08m.
DDH122 intersected 0.28% copper, 0.016% molybdenum, 0.14g/t gold and 1.52g/t silver (0.43% copper equivalent) over an interval of 116m starting at a core length of 141m,
DDH121 and DDH 122 exhibits two distinct styles of mineralization being; copper-silver+/-gold-molybdenum in the upper portions of the holes and copper-molybdenum-gold-silver in the lower portions of the holes suggesting that several phases of mineralization may be present at Eaglehead,
Analytical results for the last two diamond drill holes from the 2014 drilling program are expected to be received before the end of October.

Jevin Werbes, President of Carmax stated, "The results for these holes are a significant development in understanding the potential and size of the Eaglehead property. The thickness and styles of mineralization in these holes support the porphyry model and demonstrate that the mineralization is open at depth. Most importantly is the significant molybdenum and gold content in both drill holes at depth. The results of the 2014 drilling has extended the zones of mineralization and has returned higher average grades than those currently reported for the Eaglehead property."

Diamond Drilling Analytical Results:

The weighted average grades for DDH0121 and DDH0122 were calculated using a 0.10% copper cutoff grade as shown in the table below.


DDH ID Azimuth Dip From (m) To (m) Interval
(m) Copper
(%) Molybdenum
(%) Gold
(g/t) Silver
(g/t) CuEq
(%)
DDH0121 0 -60 29.87 551.08 521.21 0.23 0.013 0.06 0.91 0.37
Including 29.87 308.00 278.13 0.21 0.003 0.02 0.51 0.25
including 29.87 42.00 12.13 1.01 0.012 0.25 3.97 1.31
and 308.00 551.10 243.10 0.27 0.025 0.09 1.36 0.48
including 308.00 332.00 24.00 0.95 0.085 0.13 4.73 1.53
including 438.00 518.00 80.00 0.22 0.036 0.15 1.12 0.53
DDH0122 0 -65 73.00 377.00 304.00 0.18 0.005 0.07 0.82 0.27
including 141.00 257.00 116.00 0.28 0.010 0.14 1.20 0.43