CANTEX ANNOUNCES START OF YUKON PROGRAM, PRIVATE PLACEMENT UPDATE
June 29 2011 - 9:00AM
PR Newswire (Canada)
KELOWNA, BC, June 29, 2011 /CNW/ -- KELOWNA, BC, June 29, 2011
/CNW/ - Cantex Mine Development Corp. (TSXV : CD) (the "Company",
"Cantex") is pleased to report the C$2.0 million private placement
announced on June 17(th) has been completed with $2.4 million worth
of shares subscribed (closing subject to regulatory approval). The
$2.4 million raised will be used to fund exploration development of
Cantex's claims adjacent to the Atac Resources claims in the
central Yukon as well as heavy mineral exploration of the 30,000+
km(2) area(s) of the Yukon underlain by geology favourable for
Nevada-style gold mineralization. The Company is using proprietary
heavy mineral techniques developed by C.F. Mineral Research Ltd.,
of Kelowna, BC, used to detect four heap leach Carlin-type gold
deposits in Nevada that are now mines. The recent discovery of
Carlin-style mineralization by Atac Resources in the Yukon
demonstrates this area has potential to host a major gold mining
district. The sampling program has already commenced and 100 of the
more than 2,500 planned bulk heavy mineral samples have been
collected from the favourable Yukon area(s). The technical
information and results reported here have been reviewed by Mr.
Chad Ulansky P.Geol., a Qualified Person under National Instrument
43-101, who is responsible for the technical content of this
release. Signed, Charles Fipke Charles Fipke Chairman Neither the
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/June2011/29/c2086.html p
Chad Ulansky, President & CEObr/ (250) 860 - 8582br/ a
href="mailto:info@cantex.ca" cr="true"info@cantex.ca/a /p
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