Cantex Yukon Update
April 26 2012 - 7:59PM
PR Newswire (Canada)
KELOWNA, BC, April 30, 2012 /CNW/ - Cantex Mine Development Corp.
("Cantex" or the "Company") is pleased to report all analytical
results are complete with respect to follow-up sampling of its two
gold claim groups in central Yukon as well as its ~2,500 heavy
mineral samples collected from un-staked land extending over 30,000
square kilometers. These samples were collected from areas
underlain by favorable geology for Carlin-style gold deposits. CAR
Claim Group The CAR claim group is located 25 kilometers east and
up strike of Atac Resources's ("Atac") Osiris Carlin-style gold
discovery. Ninety two bulk (+/- 10 kg) talus samples were
collected within this claim group. Forty nine of the bulk
samples were analyzed after screening, crushing and pulverizing
whilst the remaining 43 were analyzed using the heavy mineral
analysis procedures of CF Mineral Research Ltd. in Kelowna, BC for
Carlin-style gold sampling. Nineteen of the 49 pulverized talus
samples were anomalous in key pathfinder elements for Yukon and
Nevada Carlin-style gold mineralization such as arsenic, antimony,
thallium, etc. Thirty seven of the 43 talus samples processed
using heavy mineral methods were found to be anomalous in key
pathfinder elements. Three of the 37 samples anomalous in key
pathfinder elements were also found to be weakly to strongly
anomalous in gold. LIN Claim Group The LIN claim group is located
14 kilometers southeast of Atac's Tiger massive sulfide gold
discovery. Four bulk (+/- 10 kg) heavy mineral samples were
collected from gravels of major stream draining the claims.
These were heavy mineral processed at CF Mineral Research
Ltd. Three of the four samples contained anomalous
(microgram) amounts of key pathfinder elements. Of the three
samples anomalous in key pathfinder elements one sample's
concentrate was moderately anomalous (4,720 ppb) in gold. Regional
Exploration Program Cantex collected approximately 2,500 heavy
mineral samples from 30,000 square kilometers of un-staked ground
underlain by geology favorable for Carlin-style mineralization
during the summer of 2011. Of these 150 samples were
anomalous in both parts per billion ("ppb") and micrograms of gold;
87 samples are anomalous in both ppb and micrograms of key
pathfinder elements for Carlin-style gold mineralization.
Forty eight samples are anomalous in both parts per million and
micrograms in all key pathfinders indicative of detecting
Carlin-style mineralization both in Nevada and the Yukon. Summary
Gold and key pathfinder elements for Carlin-style mineralization
have been detected on both claim groups staked by Cantex in
2011. Additional sampling aimed at establishing drill targets
on both sets of claims is being planned for this summer. Eighty
seven gold anomalies accompanied by key pathfinder elements
(arsenic, antimony, thallium, etc) suggest that local rather than
placer sources of gold have been detected. Forty eight
samples are anomalous in all key pathfinder elements indicative of
detecting new local sources of Carlin-style gold mineralization
within the 30,000 square kilometers explored. 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 About the
Company Beyond the Yukon, Cantex has six drill ready properties in
Nevada along known trends of gold mines and is currently seeking
joint venture partners to advance the projects. In Yemen, WCP
Resources has optioned the Company's Al Hariqah gold project where
delineation drilling continues. 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, Tel: +250-860-8582,
Email:info@cantex.ca
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