KELOWNA, BC, May 7, 2013 /CNW/ - Cantex Mine Development
Corp. (CD : TSX-V) (the "Company") is pleased to report the
progress on its gold project located in the central Yukon.
Analytical results from 1,386 heavy mineral
samples collected during 2012, to define the source of anomalies
identified in 2011, have been received. Several areas have been
defined that are anomalous in all of the key Carlin-style gold
pathfinder elements. Arrangements are now in process to acquire
these areas.
Case studies completed on more than 15
Carlin-style heap leach gold deposits in Nevada and the Yukon show this same proprietary combination
of key pathfinder elements are in all cases anomalously present in
the heavy mineral concentrates of samples collected
down-stream.
In addition to these new areas discovered in
2013, seven areas similarly anomalous in the full suite of key
pathfinder elements were staked in 2012. About 35,000 soil-talus
samples need to be collected and analyzed to establish core drill
targets in these areas. The soil-talus samples will also be
collected, prepared and analyzed in the same proprietary way as
found to be effective in detecting heap leach mines and gold
deposits of economic potential in Nevada and the Yukon.
The Company has approached two, first-class
potential joint venture partners about the possibility of earning
interests in the projects by funding exploration. Both partners are
interested but, as of yet, no definite arrangement has been
made.
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
Forward Looking Statements
Some of the statements contained herein may be
forward-looking statements which involve known and unknown risks
and uncertainties. Without limitation, statements regarding
potential mineralization and resources, exploration results, and
future plans and objectives of the Company are forward looking
statements that involve various risks. The following are
important factors that could cause the Company's actual results to
differ materially from those expressed or implied by such forward
looking statements: changes in the world wide price of mineral
commodities, general market conditions, risks inherent in mineral
exploration, risks associated with development, construction and
mining operations, the uncertainty of future profitability and the
uncertainty of access to additional capital. There can be no
assurance that forward-looking statements will prove to be accurate
as actual results and future events may differ materially from
those anticipated in such statements. Metalex undertakes no
obligation to update such forward-looking statements if
circumstances or management's estimates or opinions should change.
The reader is cautioned not to place undue reliance on such
forward-looking statements.
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.
SOURCE Cantex Mine Development Corp.