KELOWNA, BC,
Dec. 11, 2013 /CNW/ - Cantex Mine
Development Corp. (CD : TSXV) ("Cantex" or the "Company") is
pleased to report the discovery of base metal mineralization at its
North Rackla project in the Yukon.
To date 127 rock samples collected during the summer field
program have been analyzed. Of these, twenty were collected
by geologist Chad Ulansky from a
newly discovered gossan zone which sub-outcrops for a distance of
600 metres with an apparent width of up to 20 metres. The
gossan zone is open at both ends. Grab samples of sub-outcrop
and down slope talus were assayed from along the 600 metre strike
length and the results are as contained in the following table:
| Sample |
Type |
Copper |
Lead |
Zinc |
Silver |
| |
|
(%) |
(%) |
(%) |
(oz/t) |
| KAR0245 |
Talus |
0.04 |
0.37 |
2.84 |
BDL |
| KAR0246 |
Talus |
0.08 |
1.93 |
5.05 |
0.18 |
| KAR0247 |
Talus |
0.05 |
43.60 |
0.74 |
3.48 |
| KAR0248 |
Subcrop |
0.06 |
1.54 |
2.88 |
BDL |
| KAR0249 |
Subcrop |
0.17 |
0.55 |
2.10 |
0.89 |
| KAR0250 |
Subcrop |
0.00 |
5.10 |
2.07 |
0.52 |
| KAR0251 |
Subcrop |
0.21 |
11.60 |
2.63 |
1.63 |
| KAR0252 |
Subcrop |
0.08 |
0.31 |
0.68 |
0.90 |
| KAR0253 |
Subcrop |
2.52 |
2.11 |
1.58 |
14.36 |
| KAR0254 |
Subcrop |
0.05 |
0.02 |
0.43 |
0.16 |
| KAR0255 |
Subcrop |
0.07 |
0.05 |
0.79 |
BDL |
| KAR0256 |
Subcrop |
0.10 |
0.02 |
0.17 |
BDL |
| KAR0257 |
Subcrop |
0.42 |
0.23 |
0.65 |
1.32 |
| KAR0258 |
Subcrop |
0.18 |
0.06 |
0.54 |
0.47 |
| KAR0259 |
Subcrop |
0.89 |
1.09 |
0.84 |
1.65 |
| KAR0263 |
Subcrop |
0.14 |
1.88 |
5.92 |
0.96 |
| KAR0264 |
Subcrop |
0.13 |
1.15 |
6.65 |
1.53 |
| KAR0265 |
Subcrop |
1.19 |
4.64 |
7.11 |
35.60 |
| KAR0266 |
Subcrop |
0.28 |
0.16 |
2.26 |
1.67 |
| KAR0267 |
Talus |
0.00 |
20.20 |
6.75 |
1.59 |
*"BDL" is Below Detection Limits
In addition, gossanous float sample KAR0268 in the vicinity of
the gossan zone described above (collected approximately 500 meters
to the north east) was determined to contain 0.13% copper, 1.01%
lead, 11.4% zinc and 0.56 ounces per ton silver. It appears
that this float is from a separate zone.
Cantex looks forward to following up these results when field
conditions permit.
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.