KELOWNA, BC,
Oct. 15, 2013 /CNW/ - Cantex Mine
Development Corp. (TSXV : CD) ("Cantex" or the "Company") is
pleased to announce the results from 11 drill holes targeting
extensions to the known gold mineralisation and infill drilling at
the Al Hariqah Gold Project, a prospective and potentially large
scale gold project located in the Republic of Yemen. The work on the project is now
being lead by WCP Resources Ltd ("WCP") who have an option to farm
into the project from Cantex.
Highlights:
Results from recent core drilling have again
demonstrated potential for extension of gold mineralisation to the
south of the previously drilled northern 1km section (of the total
4km of target strike).
- Two diamond drill holes have been drilled in this southern
extension and both holes returned encouraging intercepts as
follows:
-
- 6.22m @ 4.08g/t Au from 150.4m in
RDH057A
- 3.85m @ 9.79g/t Au from 70.76m in
RDH063A
- 7.25m @ 3.03g/t Au from 80.55m in
RDH063A
- Cantex and WCP are encouraged by these results and expects
further assay results from the southern extension to be released
over the coming months.
- Importantly, hole RDH057A (refer Figure 2) intercepted
mineralisation in the western quartz mica schist zone which is over
200m south of previously intercepted gold in this zone (refer
Figure 3), demonstrating the potential for continuation of the
mineralisation.
- In addition, results from recent infill drilling in the
previously drilled northern 1km section (of the total 4km of
strike) continue to intercept shallow gold mineralisation.
- Nine diamond drill holes (5 of which are previously drilled
holes that have been re-entered and extended) have been drilled in
this northern section and returned encouraging intercepts
including:
-
- 12.7m @ 2.47g/t Au from 122.32m in
RDH020
- 4.82m @ 2.46g/t Au from 108.05m in
RDH021
- 6.32m @ 2.64g/t Au from 123.82m in
RDH021
- Further drilling is currently being planned to test 2km of
the remaining 3km of underexplored strike directly to the south of
the previously drilled northern section (refer Figure 1).
- Results from the ongoing drilling program, together with the
extensive previous drilling, will provide a solid base for an
updated geological model for the Project and WCP have indicated
that they will look to prepare an initial Mineral Resource estimate
in accordance with the JORC Code during 2014.
Introduction
The Al Hariqah Gold Project (Project) is
a near-surface gold deposit located 130km northwest of Sana'a,
Yemen. The Project is currently
100% owned by Cantex Mine Development Corporation and WCP, which is
listed on the Australian Securities Exchange and headquartered in
Perth, Australia, has an option to
farm in.
The Project comprises a granted exploration
licence covering an area of approximately 957 square kilometres and
is valid until 16 January 2016 with
the option for two further 4 year extensions (providing 50% area
relinquishments are carried out at the first extension).
WCP has until 10 February
2014 to exercise its option to farm-in to the Project. Upon
exercise, and by meeting a series of expenditure commitments, WCP
will be able to progressively earn up to a 70% interest in the
Project.
Geological Setting
The geology at Al Hariqah consists of
Proterozoic quartz mica schist bordered to the east by Proterozoic
metavolcanics and to the west by Tertiary dykes. The mineralisation
appears to be dominantly hosted by the quartz mica schist and is
commonly associated with arsenopyrite.
Current Drilling Program
The current drilling program comprises core
diamond drilling (DD) utilising two drill rigs, including a
small scale core rig and slightly larger dual purpose
core/percussion rig.
The key objectives of the current drilling
campaign are to test extensions to the gold mineralisation south of
the previously drilled northern 1km section (of the total 4km of
strike) where only limited drilling has previously been conducted
and to confirm previous results from drilling in the northern 1km
section where significant previous drilling has encountered
significant mineralisation.
Further drilling is currently being planned to
test 2km of the remaining 3km of underexplored strike directly to
the south of the previously drilled northern section (refer Figure
1).
Since WCP entered into the option agreement with
Cantex to farm-in to the project in December
2011, 26 holes for 3,585m of drilling have been completed at
the Project. This announcement includes the assay results from 11
of these drill holes representing approximately 1,006m of drilling.
Assay results from the remaining 15 drill holes representing
approximately 2,579m of drilling are expected to be released in the
coming months.
Following the appointment of an in-country
Exploration Manager in April 2013,
WCP has now established a procedure whereby drill core samples
(being half of the BQ diameter core) are crushed and pulverised at
a local sample preparation facility operated by the Geological
Survey and Mineral Resources Board of Yemen and then the processed samples are
exported for fire assaying in Canada by the ALS Vancouver laboratory. This
has improved assay turnaround times.
Current Drilling Results
The results from 11 DD drill holes from the
current drilling program, representing approximately 1,006m of
drilling are reported herein. Results from the holes and
collar information are presented in Table 1.
Two of the drill holes are located in the
southern extension section of the previously drilled northern 1km
section where only a limited drilling program has been undertaken.
Refer to Figure 1 for the drill hole locations and Figure 2 for a
cross section of these two holes.
Both of the holes returned encouraging
intercepts (quoted as down-hole intercepts) including:
- 6.22m @ 4.08g/t Au from 150.4m in RDH057A;
- 3.85m @ 9.79g/t Au from 70.76m in RDH063A; and
- 7.25m @ 3.03g/t Au from 80.55m in RDH063A.
The intercept recorded in hole RDH057A is
significant in that it is the first hole in the southern extension
section that has been drilled into the western quartz mica
schist zone (refer Figures 1 and 2). RDH057A returned an
encouraging intercept of 6.22m @ 4.08g/t from 150.4m down hole.
220m to the north of this hole (refer Figure 3) there is
significant mineralisation hosted in the western quartz mica schist
unit and suggests further drilling to the west and south of RDH057A
is warranted.
The remaining 9 drill holes are from the
northern 1km section where there has already been a significant
amount of drilling completed over the last 15 years. 5 of these
holes are previously drilled holes that have been re-entered and
extended.
Select intercepts from these 9 holes (quoted as
down-hole intercepts) include:
- 12.7m @ 2.47g/t Au from 122.32m in RDH020;
- 4.82m @ 2.46g/t Au from 108.05m in RDH021; and
- 6.32m @ 2.64g/t Au from 123.82m in RDH021.
Refer to Figure 3 for a cross section of the
mineralised intercepts in holes RDH020 and RDH021, in the northern
1km section where previous drilling has encountered significant
mineralisation.
The cross sections in Figures 4 and 5 have been
included to display the significant intercepts encountered over a
broad area to date.
Table 1: Summary of Diamond Drill Hole
Intersections
HoleID |
East |
North |
Depth
(metres) |
Dip
(0) |
Azimuth |
From
(metres) |
To
(metres) |
Length
(metres) |
Grade
(g/t) |
RDH020* |
332717 |
1776770 |
150.33 |
270 |
-80 |
122.32 |
135.02 |
12.70 |
2.47 |
including |
|
|
|
|
|
131.53 |
132.53 |
1.0 |
13.95 |
RDH021*
including |
332717 |
1776770 |
150.50 |
0 |
-90 |
108.05
123.82
129.44 |
112.87
130.14
130.14 |
4.82
6.32
0.70 |
2.46
2.64
21.40 |
RDH031* |
332811 |
1776881 |
126.83 |
0 |
-90 |
No Significant
Intercept |
RDH032 |
332811 |
1776881 |
151.24 |
90 |
-55 |
No Significant
Intercept |
RDH041 |
332264 |
1776800 |
115.71 |
270 |
-55 |
No Significant
Intercept |
RDH054 |
332709 |
1776950 |
159.08 |
0 |
-90 |
68.38 |
71.92 |
3.54 |
1.14 |
RDH055 |
332750 |
1776934 |
150.96 |
0 |
-90 |
No Significant
Intercept |
RDH056* |
332838 |
1776953 |
159.71 |
270 |
-55 |
154.39 |
157.8 |
3.41 |
0.98 |
RDH057A |
332711 |
1776508 |
158.92 |
270 |
-55 |
143.30
150.40 |
147.21
156.62 |
3.91
6.22 |
1.03
4.08 |
RDH061* |
330070 |
1776575 |
150.06 |
256 |
-55 |
No Significant
Intercept |
RDH063A |
332905 |
1776501 |
93.4 |
239 |
-60 |
70.76
80.55 |
74.61
87.8 |
3.85
7.25 |
9.79
3.03 |
Notes:
- Holes with an * postfix are holes that have been drilled in
a previous program and have been re-entered and extended to the
indicated depth.
- Co-ordinates are in UTM grid (WGS 84 Zone 38N) and have been
measured by GPS (+/- 5m accuracy).
- Samples at nominal 1.5m various intervals.
- All intercepts calculated using a 0.5 g/t lower cut and no
upper cut.
- 3m of sub grade material.
- Intervals are all down-hole length.
- Assaying conducted by ALS in Vancouver using industry standard 50g
lead collection fire assay with AAS finish.
- Reference standards, field duplicates and blank samples are
routinely inserted; quality control samples are routinely
monitored.
- The broad mineralised zone at Al Hariqah dips to grid west
at approximately 15 degrees. Local variations in mineralisation dip
occur within the broad mineralised zone.
Previous Drilling Results
Prior to the current drilling program, 158 holes
totalling 19,093m had been drilled at the Project, comprising
4,145m of reverse circulation (RC) drilling, 10,192m of
percussion rotary air blast (RAB) drilling and 4,756m of
DD.
A selection of the five best historic intercepts
include:
- 31.5m @ 2.59g/t Au from 13.5m (RAB);
- 43.5m @ 3.45g/t Au from 31.5m (RAB);
- 48.0m @ 2.96g/t Au from 18.0m (RAB);
- 23.9m @ 7.22g/t Au from 90.18m (DD); and
- 55.5m @ 3.76g/t Au from 21.0m (RAB).
The drilling completed at the Project to-date
has defined a broad zone of gold mineralisation which is
approximately 4km in length, up to 500m wide, and extends to at
least 150 metres depth with several deep holes ending in
mineralisation.
Previously, drilling has concentrated on the
northern 1km of strike where numerous mineralised intercepts have
been returned. The southern 3km of strike has only been
subjected to sporadic drilling on the eastern side which did return
gold mineralisation that warrants follow up drilling. The deposit
is open along strike to the south, across strike and at depth.
Initial Mineral Resource Estimate
There has been no resource estimate prepared for
the Project to date, however Cantex and WCP believe the Project has
the potential to host a large scale gold project.
Results from the ongoing drilling program,
together with the extensive previous drilling, will provide a solid
base for an updated geological model for the Project and WCP has
indicated it will look to prepare an initial Mineral Resource
estimate in accordance with the JORC Code during 2014.
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 Al Hariqah gold project Cantex has
projects in the Yukon and
Nevada. In the Yukon recent work has identified the potential
for the claims area to host Carlin-style mineralization. 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.
Image with caption: "Figure 1 Al Hariqah Geology and Drill Hole
Location Plan (CNW Group/Cantex Mine Development Corp.)". Image
available at:
http://photos.newswire.ca/images/download/20131015_C9701_PHOTO_EN_32008.jpg
Image with caption: "Figure 2 Al Hariqah Geology and Drill Hole
Cross Section 1776530N (CNW Group/Cantex Mine Development Corp.)".
Image available at:
http://photos.newswire.ca/images/download/20131015_C9701_PHOTO_EN_32009.jpg
Image with caption: "Figure 3 Al Hariqah Geology and Drill Hole
Cross Section 1776770N (CNW Group/Cantex Mine Development Corp.)".
Image available at:
http://photos.newswire.ca/images/download/20131015_C9701_PHOTO_EN_32010.jpg
Image with caption: "Figure 4 Al Hariqah Geology and Drill Hole
Cross Section 1776850N (CNW Group/Cantex Mine Development Corp.)".
Image available at:
http://photos.newswire.ca/images/download/20131015_C9701_PHOTO_EN_32011.jpg
Image with caption: "Figure 5 Al Hariqah Geology and Drill Hole
Cross Section 1777050N (CNW Group/Cantex Mine Development Corp.)".
Image available at:
http://photos.newswire.ca/images/download/20131015_C9701_PHOTO_EN_32012.jpg