CANTEX STAKES GOLD CLAIMS ADJACENT NEW CARLIN DISCOVERY IN YUKON
February 16 2011 - 8:30AM
PR Newswire (Canada)
KELOWNA, BC, Feb. 16 /CNW/ -- KELOWNA, BC, Feb. 16 /CNW/ - Cantex
Mine Development Corp. (CD : TSXV) ("Cantex") is pleased to
announce the staking of claims in the Yukon, Canada. A new belt of
gold mineralization has been discovered by ATAC Resources Ltd.
("ATAC") in the Yukon, Canada: a 175 kilometer east - west trending
zone located 100 kilometers northeast of Mayo. The belt was
discovered principally by follow up prospecting and drilling of
arsenic anomalies that were detected by a government sponsored
stream sediment survey. The gold mineralization appears
geologically similar to Carlin style mineralization in Nevada,
which is the second largest gold district in the world.
Recent drilling by ATAC has discovered Carlin type gold
intersections of up to 65.2 meters of 4.65 g/t gold near the
eastern extremity of the east - west trending zone. Consequently,
Cantex has staked an approximately 1,045 hectare claim block
adjacent to the eastern extremity of ATAC's claim block which is on
strike with the recent Carlin style mineralization discovered by
ATAC. In addition, an approximately 1,000 hectare claim block
has been staked over the source area of several arsenic anomalies
as reported on the government stream sediment maps located 15 km
southeast of ATAC's Rau gold deposit which is situated towards the
western end of their staked zone. Cantex is planning a two to three
million dollar heavy mineral exploration survey over unclaimed
areas in the vicinity of the belt containing the newly discovered
Carlin mineralization. In addition, soil sampling and
geologic mapping of the newly staked claims is planned to commence
in spring with drill testing to follow. Cantex has access to heavy
mineral technology developed by the CF Mineral Research Ltd.
laboratory that has to date detected four Carlin style heap leach
gold deposits in Nevada that were undetected by analysis of arsenic
in stream sediments. These four deposits are now active gold
mines. This press release has been prepared by Chad Ulansky P.Geol,
a Qualified Person. Signed, 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/February2011/16/c3161.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 Jul 2024 to Aug 2024
Cantex Mine Development (TSXV:CD)
Historical Stock Chart
From Aug 2023 to Aug 2024