KELOWNA, BC, June 9, 2014 /CNW/ - Cantex Mine Development
Corp. (CD : TSXV) ("Cantex" or the "Company") is pleased to
report that results for the nearly 18,000 soil-talus samples
collected last year from the North Rackla and Mt Good claim blocks
are now complete. These results have outlined numerous high
priority anomalies which warrant follow up. In particular two
areas on the North Rackla claim block are now ready for drill
testing.
As a result of heavy mineral samples strongly anomalous in gold
and the pathfinder elements for Carlin style gold mineralization,
claims covering over 14,000 hectares were staked in 2012 and 2013
at North Rackla and over 6,000 hectares were staked at Mt
Good. Additional heavy mineral sampling within the claim
blocks narrowed the prospective areas to individual
watersheds. These watersheds were sampled in a detailed
soil-talus sampling program in the summer of 2013.
North Rackla Gold Claims
Soil-talus samples approximately 1.5kg in size were collected as
composite samples every 25m along lines spaced 200m apart. At
CF Mineral Research Ltd these were crushed to -1mm and then a 750g
split was then pulverized and sent to Activation Laboratories Ltd
for neutron activation analysis for gold plus 33 elements.
Selected samples determined to be anomalous by INAA were also
analyzed using Ultra Trace 7 ICP.
As a result of this most comprehensive sample collection and
processing program, thought to utilize techniques producing more
representative results than those applied by other companies in the
industry, eleven anomalous areas prospective for gold
mineralization were identified at North Rackla.
In one area, samples extending over a 250 meter apparent width
and an as of yet undetermined strike length returned exceptionally
anomalous results in gold and the key Carlin style pathfinder
elements (arsenic, antimony and thallium). This target is
scheduled to be aggressively drill tested this year.
A second target is also ready for drill testing with strongly
anomalous gold, arsenic and antimony results over an area exceeding
200m by 200m.
In addition there are a further nine anomalous areas to be
followed up. All of these are anomalous in gold and are
anomalous in all of, or up to three of the key Carlin style
pathfinder elements.
Mt Good Gold Claims
At Mt Good a total of 6,763 soil-talus samples were collected
and processed using the same techniques as those from North Rackla.
These results defined eight areas weakly to strongly
anomalous in gold and one or more of the key Carlin pathfinder
elements. One area was anomalous in gold and all key
pathfinder elements, four areas were anomalous in gold, arsenic and
antimony pathfinder elements and three areas were anomalous in gold
and the pathfinder element arsenic.
North Rackla and Mt Good Gold Claims
Cantex intends to follow up these anomalies with an extensive
summer program. This program will consist of prospecting,
geological mapping, rotary air blast drilling, diamond drilling and
additional infill soil-talus sampling as required. With the
winter snows rapidly melting from our claim areas it is expected
that this field program will commence in the near future.
Management is most encouraged by the results to date on the
project, showing the potential for additional Carlin-style
mineralization within the district, and look forward to drill
testing.
In addition heavy mineral results will shortly be available for
Cantex's six other Yukon gold properties which were identified
using key pathfinder elements for gold. These will be
reported in the near future.
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.