KELOWNA, BC, July 21, 2014 /CNW/ - Cantex Mine
Development Corp. (CD : TSXV) ("Cantex" or the "Company") is
pleased to report that field work has commenced at its 100% owned
Yukon gold project.
Cantex has commenced a field program on the 13.5km by 14.5km
North Rackla gold claim block in the Yukon designed to locate Carlin-style gold
mineralization detected by the heavy mineral sampling and detailed
soil-talus sampling previously completed on the project areas.
This year nearly 4,000 soil-talus samples have already been
collected on the North Rackla claims. Twenty seven areas
anomalous in gold and key pathfinder elements along 200 meter
spaced soil-talus lines are scheduled to be sampled tightening the
line spacing to 50 meters. One of these areas already sampled
focuses on a 250 meter apparent width and an as of yet
undetermined strike length returned exceptionally anomalous and
consistent results in gold and key Carlin style pathfinder elements
(arsenic, antimony and thallium).
The samples over two priority areas have now been received by CF
Mineral Research Ltd, where they will undergo sample preparation in
advance of being sent to Activation Laboratories Ltd for
analysis.
This detailed soil-talus sampling program is continuing on North
Rackla and will shift to the Mt Good claim block when complete.
An induced polarization and resistivity geophysical survey over
the aforementioned highest priority area is scheduled to commence
this week to assist in defining drill targets.
A rotary air blast (RAB) drill has been mobilized to Mayo,
Yukon in preparation for a follow
up program to define the bedrock source of these anomalies. A
desktop XRF instrument capable of detecting pathfinder elements
(which accompany gold in Carlin-style deposits) will be used to
analyze bedrock drill cuttings so that the areal extent of the
mineralization can be defined in the field prior to laboratory
preparation and analysis.
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.
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.