CANTEX PROVIDES UPDATE ON YEMEN PROJECTS
March 22 2011 - 9:00AM
PR Newswire (Canada)
KELOWNA, BC, March 22 /CNW/ -- KELOWNA, BC, March 22 /CNW/ - Cantex
Mine Development Corp. (CD : TSXV) ("Cantex" or "Company") is
pleased to provide an update on the progress of its projects in
Yemen. Suwar and Wadi Qutabah Copper-Nickel-Cobalt Projects Final
results have been received from the 1,624 line kilometer
helicopter-borne geophysical survey which was flown over both the
Suwar and Wadi Qutabah project areas located 57 km west and 71 km
northwest respectively of Sana'a, Yemen. Vale S.A. geophysists have
identified three new conductive anomalies potentially reflecting
massive sulfide mineralization on the Suwar property in addition to
the previously identified zone of copper-nickel-cobalt massive
sulfides. At Wadi Qutabah three new conductive zones have been
identified adjacent to the known massive sulfide mineralization.
Drill testing of the first anomaly at Suwar is currently in
progress under the supervision of expatriate geologist Dr. Peter
Gregory. Once testing of the three Suwar anomalies is
complete the drill will commence testing of the three anomalies at
Wadi Qutabah. An additional very large (approximately 3km x 4km)
conductive anomaly is present at Wadi Qutabah. Vale geophysists
interpret this conductor to be at or near surface and as such this
anomaly will be tested by prospecting and possibly drilling. Al
Hariqah Gold Project Core drilling continues at Al Hariqah. As the
Al Hariqah deposit is locally highly silicified, core drilling has
been slow and 32 of the 162 holes drilled with percussion
techniques still remain to be deepened with core drilling. Over
1,200 meters of core from 19 holes has been logged and is presently
being divided into sample intervals under the guidance of Dr. Peter
Gregory. Four intervals containing visible gold have been
identified. Once the samples are loaded into a sea container
it is estimated that they should arrive at the ALS Chemex
laboratory in North Vancouver within 6 to 8 weeks. Cantex is in the
process of acquiring one to two additional large drill rigs for the
Al Hariqah project to accelerate the drilling. In this way
prefeasibility and feasibility studies will be fast tracked.
Drilling will include untested areas along strike of the main zone
of gold mineralization. The Yemen government supports Cantex's
efforts to develop the Al Hariqah project as quickly as
possible. The government has now completed a paved road
direct from Sana'a to site. The recent turmoil in Yemen has not
affected either Cantex's 100% owned Al Hariqah project or the
Company's Suwar and Wadi Qutabah projects optioned to Vale. This
press release has been prepared by Chad Ulansky, P.Geo., 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/March2011/22/c5202.html
p Please Contact Chad Ulansky, President & CEObr/ (250) 860 -
8582br/ a href="mailto:info@cantex.ca"info@cantex.ca/a /p
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