Cantex Updates Progress on Yukon and Al Hariqah Projects
January 27 2012 - 9:00AM
PR Newswire (Canada)
KELOWNA, BC, Jan. 27, 2012 /CNW/ - Cantex Mine Development Corp.
("Cantex" or the "Company") is pleased to provide an update on the
progress on the Yukon and Al Hariqah projects. Nevada Gold Projects
In Nevada, the Company has conducted an extensive exploration
program. Initially, sampling surveys were conducted over
known gold mines in Nevada to assess their geochemical
signatures. A distinctive suite of pathfinder elements was
found to accompany many of the mines. With this knowledge a
regional geochemical survey was conducted over the significant gold
mine trends in Nevada. Numerous similar geochemical
signatures were found and claims were then acquired over these
areas. Once the lands were staked focused exploration was
undertaken; the anomalies were followed up with geological mapping,
soil sampling, rock sampling, trenching and geophysics. Six of the
properties contain drill worthy targets. The Company is
currently seeking a joint venture partner to earn an interest in
the project by funding drill testing of these targets. Al Hariqah
Gold Project Company President, Chad Ulansky, and a representative
of WCP Resources recently visited Yemen and are pleased to report
that the exploration license containing the Al Hariqah project has
been renewed under the new Yemeni mining code. The new
license is valid for an initial four year period and can be renewed
for two further four year periods. Cantex is pleased to have
secured this lengthy title for the project as it will allow time
for the extensive drill program required to assess the scale of the
gold mineralization and subsequent feasibility studies at Al
Hariqah. In addition, the license has been expanded from its
original 71 km(2) to 956 km(2). The new license area covers a
trend of gold anomalies discovered by Cantex's regional exploration
program which could reflect additional mineralization similar to
that found at Al Hariqah. A second core drill rig has been
mobilized to Al Hariqah to assist with the ongoing drill
program. This drill program is being overseen by Yemeni
geologist Abdul Moain Al Shybani and Canadian geologist Graham
Janson. Yukon Gold Project During 2011, the Company collected 2,315
heavy mineral samples from areas underlain by geology prospective
for Carlin-type gold mineralization in the Yukon. C.F. Mineral
Research has commenced heavy mineral processing of all of these
samples. An additional 119 follow up samples were collected to
test the Company's claims along strike from Atac Resources' Osiris
Carlin-type gold discovery. To date 1,965 of the exploration
samples have been submitted for assay and complete results have
been received for 722 of these samples. 71 samples are
anomalous for gold. Twenty samples are anomalous in the full suite
of key pathfinder elements characteristic of Carlin-type gold
mineralization in the Yukon. These and forthcoming results will be
used to guide the acquisition of claims and a future exploration
program. Cantex looks forward to the continued progress on its Al
Hariqah and Yukon gold projects. 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. Cantex Mine
Development Corp. CONTACT: Cantex Mine Development Corp., 203-1634
Harvey Ave., Kelowna, BC,V1Y6G2, Tel (250) 860 8582, Fax (250) 860
1362, Email info@cantex.ca
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