CANTEX DRILLS 36 METERS OF 5 g/t GOLD
January 24 2011 - 9:00AM
PR Newswire (Canada)
KELOWNA, BC, Jan. 24 /CNW/ -- KELOWNA, BC, Jan. 24 /CNW/ - Cantex
Mine Development Corp. (CD : TSXV) ("Cantex" or the "Company") is
pleased to announce drilling results from its Al Hariqah gold
project. Al Hariqah Gold Deposit, Yemen Drilling results have
recently been received from eight core holes and 18 percussion
holes at the Al Hariqah gold project. The upper portions of
the holes are typically drilled using percussion techniques and the
holes are then extended with core drilling. Significant
results from these holes are contained in the following table:
____________________________________________________________ |HOLE
| Drilling | |Length| From | To |Gold Grade| | |Technique | | (m) |
(m) | (m) | (g/t) |
|_______|__________|_________|______|______|______|__________| |RDH
01 | Core | | 6.1 |86.62 |92.72 | 1.02 |
|_______|__________|_________|______|______|______|__________| | |
| | | | | |
|_______|__________|_________|______|______|______|__________|
|RDH-07A| Core | |47.58 |80.51 |128.09| 3.35 |
|_______|__________|_________|______|______|______|__________| | |
Core |Including| 7.9 |81.68 |88.41 | 16.67 |
|_______|__________|_________|______|______|______|__________| | |
| | | | | |
|_______|__________|_________|______|______|______|__________|
|RDH-27 | Core | |15.25 |88.72 |103.97| 0.75 |
|_______|__________|_________|______|______|______|__________| | |
Core |Including| 3.04 |94.83 |97.87 | 1.73 |
|_______|__________|_________|______|______|______|__________| | |
Core | | 2.54 |122.75|125.29| 0.9 |
|_______|__________|_________|______|______|______|__________| | |
Core | | 0.83 |144.54|145.37| 1.57 |
|_______|__________|_________|______|______|______|__________| | |
| | | | | |
|_______|__________|_________|______|______|______|__________|
|RDH-34 |Percussion| |39.00 |24.00 |63.00 | 3.01* |
|_______|__________|_________|______|______|______|__________| |
|Percussion|Including| 4.50 |39.00 |43.50 | 14.51* |
|_______|__________|_________|______|______|______|__________| |
|Percussion| And| 1.50 |45.00 |46.50 | 5.54* |
|_______|__________|_________|______|______|______|__________| | |
Core | |36.29 |103.81|140.10| 5.00 |
|_______|__________|_________|______|______|______|__________| | |
Core |Including| 1.52 |134.00|135.52| 62.20 |
|_______|__________|_________|______|______|______|__________| | |
Core | | 1.52 |149.25|150.77| 3.59 |
|_______|__________|_________|______|______|______|__________| | |
| | | | | |
|_______|__________|_________|______|______|______|__________|
|RDH-47 |Percussion| | 9.00 |57.00 |66.00 | 0.94 |
|_______|__________|_________|______|______|______|__________| | |
| | | | | |
|_______|__________|_________|______|______|______|__________|
|RDH-62 |Percussion| |18.00 | 9.00 |27.00 | 1.39 |
|_______|__________|_________|______|______|______|__________| |
|Percussion|Including| 4.50 |13.50 |18.00 | 3.88 |
|_______|__________|_________|______|______|______|__________| |
|Percussion| | 4.50 |40.50 |45.00 | 0.4 |
|_______|__________|_________|______|______|______|__________| |
|Percussion| | 3.00 |61.50 |64.50 | 0.41 |
|_______|__________|_________|______|______|______|__________|
*Result previously released
_________________________________________________________ |HOLE |
Drilling | |Length|From | To |Gold Grade| | |Technique | | (m) |
(m) | (m) | (g/t) |
|______|__________|_________|______|_____|_____|__________|
|RDH-66|Percussion| |12.00 |10.50|22.50| 1.21 |
|______|__________|_________|______|_____|_____|__________| | | | |
| | | | |______|__________|_________|______|_____|_____|__________|
|RDH-68|Percussion| | 3.00 |69.00|72.00| 0.33 |
|______|__________|_________|______|_____|_____|__________| |
|Percussion| | 7.2 |73.5 |80.7 | 0.31 |
|______|__________|_________|______|_____|_____|__________| | | | |
| | | | |______|__________|_________|______|_____|_____|__________|
|RDH-71|Percussion| | 3.00 |0.00 |3.00 | 0.48 |
|______|__________|_________|______|_____|_____|__________| | | | |
| | | | |______|__________|_________|______|_____|_____|__________|
|RDH 72|Percussion| | 1.5 | 18 |19.5 | 0.97 |
|______|__________|_________|______|_____|_____|__________| | | | |
| | | | |______|__________|_________|______|_____|_____|__________|
|RDH-73|Percussion| | 6.00 |3.00 |9.00 | 0.35 |
|______|__________|_________|______|_____|_____|__________| | | | |
| | | | |______|__________|_________|______|_____|_____|__________|
|RDH 74|Percussion| | 4.5 |49.5 | 54 | 0.69 |
|______|__________|_________|______|_____|_____|__________| |
|Percussion| | 3 | 87 | 90 | 0.44 |
|______|__________|_________|______|_____|_____|__________| | | | |
| | | | |______|__________|_________|______|_____|_____|__________|
|RDH-81|Percussion| | 6 | 1.5 | 7.5 | 0.41 |
|______|__________|_________|______|_____|_____|__________| | | | |
| | | | |______|__________|_________|______|_____|_____|__________|
|RDH-82|Percussion| | 87 | 6 | 93 | 0.87 |
|______|__________|_________|______|_____|_____|__________| | |
|Including| 7.5 |31.5 | 39 | 2.92 |
|______|__________|_________|______|_____|_____|__________|
Drilling at the Al Hariqah project continues to intersect gold
mineralization over significant lengths. Hole RDH-07A which
was core drilled from surface intersected 47.58 meters of 3.35
grams per tonne gold from 80.51 meters including 7.90 meters of
16.67 g/t gold. RDH-34, which had been drilled to 99 meters using
percussion, was deepened to 150.77 meters by core drilling.
As previously reported, (news release January 28, 2010) percussion
drilling had intersected 39 meters of 3.01 g/t gold from 24 meters
depth including 4.5 meters of 14.51 g/t gold. Core drilling
intersected another zone of mineralization which included 1.5
meters of 62.2 g/t gold within a larger interval that averaged 5
g/t gold over 36.29 meters from 103.81 meters. Significantly,
the end of the hole intersected a further zone of mineralization
with the last 1.52 meters of the hole containing 3.59 g/t gold.
Percussion drill hole RDH-82 intersected 87 meters of 0.87g/t gold
from 6 meters depth to the end of hole. This hole will be
extended by core drilling to test for continued mineralization at
depth. Drilling continues at the Al Hariqah gold project; of the
162 holes 126 are now complete and 36 remain to be deepened by core
drilling. Once this drill program is complete a
prefeasibility study will be undertaken. The letter of intent
signed in September of 2010 with Cheetah-Yemen Holdings Ltd. for
the Al Hariqah project had several conditions required for an
option agreement to be put into force. These conditions were
not met in the time allowed and as a result the letter of intent is
no longer in effect. Leonard Creek Gold Project, Nevada In late
2010 the Company completed a drill program on its 100% owned
Leonard Creek project. DeLong Construction and Drilling Inc
completed 11 holes totaling 2,449 meters using reverse circulation
drilling techniques with a 13cm hole diameter. The Leonard
Creek project consists of 127 claims covering 1,062 hectares where
historically extensive placer gold mining has occurred.
Leonard Creek is one of the few places in Nevada where the hard
rock source of significant placer gold has yet to be found.
The drilling tested resistivity highs and structurally controlled
conductive zones as detected by a CSAMT geophysical survey,
outcropping sulphur mineralization, siliceous sinter and
alteration. Drilling on some holes intersected unusually deep
overburden which was up to 320 meters thick. The CSAMT
geophysical anomalies in areas of thick overburden may possibly be
a result of the overburden rather than the underlying
bedrock. Low gold values were obtained immediately above
and/or immediately below the overburden/bedrock contact in three
holes. The alluvium samples immediately above the contact
will be heavy mineral treated to recover gold grains. The
morphology of the gold grains may assist in locating bedrock gold
mineralization in the vicinity of the drill holes. Suwar and
Wadi Qutabah Nickel, Copper, Cobalt Projects, Yemen At Suwar and
Wadi Qutabah the helicopter borne electromagnetic, magnetic and
radiometric surveys are now complete. Results are expected
from Aeroquest International Ltd. in the near future. The
results from these surveys will be used to guide a drill program
planned for 2011. Cantex is pleased with the completion of
the survey looks forward to the continued partnership with Vale
S.A. Summary Cantex is pleased with the continued intersection of
anomalous gold mineralization at Al Hariqah. Once 36 holes
are extended and the analysis is done Cantex will be in the
position to complete a prefeasibility study on the Al Hariqah
project. The Company also looks forward to the results of the
airborne geophysical survey at Suwar and Wadi Qutabah. This press
release has been prepared by Chad Ulansky P.Geol, a Qualified
Person. Signed, Charles Fipke Charles Fipke Chairman Neither
TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this
release. To view this news release in HTML formatting, please use
the following URL:
http://www.newswire.ca/en/releases/archive/January2011/24/c4625.html
pCantex Mine Development Corp., 203-1634 Harvey Ave., Kelowna, BC,
V1Y 6G2, Tel (250) 860 8582, Fax (250) 860 1362, Email a
href="mailto:cantex@shaw.ca"cantex@shaw.ca/a/p
Copyright
Cantex Mine Development (TSXV:CD)
Historical Stock Chart
From Jun 2024 to Jul 2024
Cantex Mine Development (TSXV:CD)
Historical Stock Chart
From Jul 2023 to Jul 2024