KELOWNA, BC, Sept. 5, 2013 /CNW/ - Cantex Mine Development
Corp. (CD : TSXV) ("Cantex" or the "Company") is pleased to
provide an update on its exploration program in the Yukon.
Yukon Gold Program
Cantex has now completed its summer exploration
program on its Yukon claim
blocks.
North Rackla Claim Block
Heavy mineral sampling of the 12,810 hectare
North Rackla claim block completed in 2011 and 2012 identified
substantial portions of the block to be highly anomalous in key
pathfinder elements for Carlin-style mineralization. To
identify drill targets within the strongly anomalous watersheds a
detailed ground geochemical survey was undertaken. A total of
11,007 composite soil talus samples were collected.
Upon receipt of the samples at CF Mineral
Research Ltd in Kelowna, BC the
samples are dried and then crushed. A representative split of
approximately 800 grams is then pulverized and from this pulverized
material a vial is sent for assay with Activation
Laboratories. To date a total of 2,305 samples have been
prepared at CF Minerals and sent to Activation Laboratories for
assay.
Contemporaneously with the above work a
prospecting program was undertaken. This work discovered
numerous mineralized occurrences from which grab samples were
collected for assay. Approximately 200 rock samples were
collected from the North Rackla block and most of these have
already been prepared at CF Minerals and sent to Activation
Laboratories for assay.
Results of a detailed heavy mineral sampling
program around the North Rackla block last summer indicated that
there was potential Carlin-style mineralization adjacent to and
south of the claim block. Cantex has staked an additional
1,275 hectares of claims covering this anomalous area. This
increases the size of the North Rackla block to over 14,000
hectares.
Bonnet Plume, Mt Williams, North Stewart,
Rogue River and Hess River Claim Blocks
Each of these claim blocks were visited as a
part of this summer's program. At each claim block a limited
prospecting program was undertaken along with detailed follow-up
heavy mineral sampling where needed. Rock samples collected
as a part of this work have been prepared by CF Minerals and
submitted to Activation Laboratories for analysis.
Mt Good Claim Block
The Mount Good claim block covers 7,000
hectares. Watersheds anomalous in the key pathfinder elements
for Carlin-style mineralization were the focus of a detailed
geochemical survey similar to that completed at North Rackla.
Over 6,000 samples were collected. These samples are
presently on their way south to Kelowna for processing.
Cantex is encouraged by the field identified
mineralization within the previously identified watersheds that are
highly anomalous in the key pathfinder elements for Carlin-style
mineralization. The current soil-talus analysis program is
designed to outline the most potential areas for drill testing.
Activation Laboratories report that they can
complete 500 neutron activation analyses per week. Management
looks forward to the results of the samples collected as a part of
this successful program and will release the results as available
on an ongoing basis.
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 project Cantex has projects in
Yemen and Nevada. In Yemen the advanced Al Hariqah gold project has
been optioned to WCP Resources Ltd of Australia while in Nevada the Company has five drill ready
properties along known trends of gold mines and is currently
seeking joint venture partners to advance the projects.
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.