KELOWNA, BC,
March 11, 2014 /CNW/ - Cantex Mine
Development Corp. (CD : TSXV) ("Cantex" or the "Company") is
pleased to announce the results from a further seven drill holes
which demonstrate the potential for extension of gold
mineralization to the south of the previously drilled northern 1km
section. Rock chip sampling 400m north of the previous
drilling has also extended the known gold mineralization. The
work on the project is being lead by WCP Resources Ltd ("WCP") who
is farming into the project from Cantex.
Diamond drilling:
Results from recent core drilling have again demonstrated potential
for extension of gold mineralisation to the south of the previously
drilled northern 1km section. Seven holes totalling 1,026
metres are presented in this release and mineralised intercepts of
these holes are presented in the following table:
- Table 1: Summary of Diamond Drill Hole
Intersections
Hole ID |
East |
North |
Depth
(metres) |
Dip
(0) |
Azimuth |
From
(metres) |
To
(metres) |
Length
(metres) |
Grade
(g/t) |
RDH096 |
333050 |
1776284 |
160.3 |
-55 |
239 |
52.24
67.24
101.75
136.75
153.75 |
60.24
72.24
116.75
137.75
158.75 |
5.0
5.0
15.0
1.0
5.0 |
1.46
1.88
0.65
58.3
1.21 |
RDH097 |
333047 |
1776257 |
120.23 |
-55 |
240 |
54.0
90.0 |
70.0
93.0 |
16.0
3.0 |
1.62
1.04 |
RDH098 |
3332973 |
1776244 |
155.07 |
-55 |
240 |
50.87
70.87 |
56.87
75.87 |
6.0
5.0 |
0.92
1.32 |
RDH099 |
333037 |
1776200 |
132.52 |
-55 |
255 |
59.0
110.0 |
67.0
114.0 |
8.0
4.0 |
1.70
0.86 |
RDH100 |
332677 |
1776296 |
147.62 |
-90 |
0 |
64.62
122.62 |
66.62
130.62 |
2.0
8.0 |
0.91
1.04 |
RDH078A |
332950 |
1776358 |
150.49 |
-55 |
232 |
53.0
95.0
134.0 |
67.0
118.0
140.0 |
14.0
23.0
6.0 |
3.15
1.19
7.38 |
RDH080 |
332887 |
1776130 |
160.29 |
-55 |
255 |
135.0 |
140.0 |
5.0 |
1.2 |
Notes:
- Co-ordinates are in UTM grid (WGS 84 Zone 38N) and have been
measured by GPS (+/- 5m accuracy).
- Samples at nominal 1.5m and 1m intervals and are down-hole
length.
- All intercepts calculated using a 0.5 g/t lower cut, no
upper cut and up to 5m of sub grade material allowed.
- Assaying conducted by ALS in Vancouver using industry standard 50g
lead collection fire assay with AAS finish.
Hole RDH078A returned multiple intervals of
significant mineralisation, which is similar to the previous drill
hole RDH095A (announced in January
2014) located 130m to the north of RDH078A.
Rock Chip Sampling
Recent mapping and selective rock chip sampling 400m to the north
of Al Hariqah has returned some high grade assays, including
42.1g/t. Au, 34.1g/t. Au, and 28.7g/t. Au. Sample mass
averaged approximately 2.5kg and the majority of the high grade
results were from samples containing quartz veins hosted in
meta-sediments. Significant results are presented in the
following table.
Table 2: Summary of Selective Rock Chip
Assays
Sample ID |
East |
North |
Comments |
Weight
(kg) |
Grade
(g/t) |
YRX8050 |
332100 |
1777558 |
Quartz Vein |
3.00 |
9.23 |
YRX8051 |
332095 |
1777556 |
Quartz Vein with visible gold in
mafic schist |
3.00 |
22.10 |
YRX8052 |
332091 |
1777554 |
Quartz Vein with visible gold |
2.90 |
42.10 |
YRX8053 |
332078 |
1777625 |
Quartz Vein |
1.90 |
20.10 |
YRX8054 |
332078 |
1777625 |
Mafic mineralized zone |
2.30 |
16.20 |
YRX8066 |
332365 |
1777238 |
Quartz Vein |
1.20 |
6.01 |
YRX8067 |
332723 |
1776244 |
Quartz Vein |
3.30 |
8.90 |
YRX8068 |
332620 |
1776320 |
From mineralized zone about 8m wide
with albite alteration |
3.30 |
1.69 |
YRX8069 |
327049 |
1775740 |
Quartz Vein |
2.50 |
2.39 |
YRX8071 |
332054 |
1777633 |
Meta-sedimentary rock with
arsenopyrite |
1.20 |
28.70 |
YRX8072 |
332046 |
1777636 |
Meta-sedimentary rock |
1.20 |
1.79 |
YRX8073 |
332081 |
1777633 |
Altered meta-sedimentary rock |
2.00 |
34.10 |
The Company is encouraged by these results and will continue
exploration in this area with a view to conducting trenching or
drilling activities when appropriate.
Summary
Cantex and WCP continue to be encouraged by these results,
especially seeing multiple intervals of significant mineralisation
in a single drill hole. Further assay results from the southern
extension will continue to be released over the coming months.
The 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 the
Company 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.