KELOWNA, BC,
Oct. 3, 2013 /CNW/ - Cantex Mine
Development Corp. (CD : TSXV) ("Cantex" or the "Company") is
pleased to provide an update on its gold exploration program in its
North Rackla claim block in the central Yukon. The claim block is located 15 km north
of the Rusty silver and base metal prospect that was explored
underground in the early 1980's. Equipment to support the
underground development and drilling were mobilized to site using
tracked vehicles pulling sleighs in the winter. As reported on
September 25, 2013, the first of the
results from the Company's summer soil sampling program on the
North Rackla claim block have shown eight areas which appear to
host gold mineralization. This release presents follow up
work recently completed on two areas.
Intensely Anomalous Gold - Arsenic - Antimony Carlin-Style
Zone
The summer sampling program defined a 300 meter
long line of soil-talus samples which were strongly anomalous in
gold (Au), arsenic (As) and antimony (Sb) which is characteristic
of Carlin-type gold mineralization. Upon receipt of these results a
field team, led by geologists Chad
Ulansky and Charles Fipke,
flew to the anomalous zone to collect an additional eight lines of
soil-talus sampling (lines offset to each side of the anomalous
line at 25, 50, 100 and 150 meters).
Even though the area was covered in about 30 cm
of snow, some mapping was completed on nine exposed outcrops along
a creek crosscutting the 300 meter strongly anomalous zone.
It was established that the shale-argillite units trend northeast
and dip southeast and are cross cut by the northwest trending 300
meter strongly anomalous line as well as all of the eight parallel
newly sampled lines. Thus, the 300 meters is the apparent thickness
of the intensely anomalous Au-As-Sb zone. The true thickness
will need to be established by trenching and drilling while an
indication of the strike length will be provided by the recent
soil-talus sampling.
The exposed outcrops of marine shale and
argillite contain tiny disseminated sulphides and are crosscut by
quartz-carbonate veinlets and veins containing disseminated
sulphides. Eleven rock samples of these were collected for
analysis for gold and key pathfinder elements for Carlin-style
mineralization.
High Gold (Au) - Silver (Ag) - Arsenic (As) - Antimony (Sb)
Zone
The second anomalous zone is located 1,150
meters to the northwest of the first zone described above. A
rock (float) grab sample of a mixture of vuggy siliceous goethite
gossan and vuggy and siliceous goethite limestone breccia contains
2,910 ppb gold, 77 ppb silver, 7,570 ppb arsenic and 318 ppb
antimony. This rock sample was collected about 25 meters down
slope from two soil-talus samples collected over a 50 meter section
of line that analyzed moderately to strongly anomalous in Au, As
and Sb.
The crew flew to this area but, due to heavy
snow, were unable to obtain most of the required follow-up
samples. However, the crew were able to obtain three
soil-talus samples on a line to within 40 meters of the anomalous
rock talus sample site. It was also found that the 50 meter
northwest trending line upslope was collected across the thickness
of the (locally stromatolitic) limestone stratigraphy that strikes
northeast and dips southeast. Thus, the 50 meters represents
an apparent width of moderately to highly anomalous
gold-arsenic-antimony. Trenching or drilling will be required
to establish the true width.
Summary
Both of the anomalous areas recently identified
by the first of the summer's sample results within the North Rackla
claim block have been evaluated in the field. The local
geology of both areas is conducive to hosting gold mineralization
and the two areas have apparent widths of 300 and 50 meters
respectively. In total, 142 soil-talus samples were collected
to better define the extent of the mineralization and to assist in
sighting future drill holes. These samples have been sent to
CF Mineral Research Ltd. in Kelowna for preparation prior to
analysis. The forthcoming analytical results should be
available in November. Results from this new Carlin-style
gold area will be released when received.
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.