KELOWNA, BC, Aug. 26, 2014 /CNW/ - Cantex Mine
Development Corp. (CD : TSXV) ("Cantex" or the "Company") is
pleased to provide a progress report for its 100% owned Yukon gold
project.
Cantex has recently completed 48 rotary air blast (RAB) drill
holes in an area covered in alpine glacial tills highly anomalous
in gold, arsenic and antimony. The anomalous gold in the
tills is in all cases accompanied by arsenic and the other key
pathfinder elements indicative of Carlin-style mineralization.
The Company is able to detect the presence of anomalous arsenic
in the drill holes but gold and other pathfinder elements can only
be quantified by sending the samples to an off site analytical
laboratory for sample preparation and analysis. X-ray
fluorescence (XRF) analyses conducted in the field have identified
anomalous arsenic in cuttings from 23 drill holes. The
anomalous arsenic has been encountered in carbonate bedrock and
overburden samples.
This is most encouraging because the presence of arsenic as
detected by XRF analyses in the field suggests that anomalous gold
values will be present when analytical laboratory results are
complete. Samples are now being prepared for shipment from
the field to CF Mineral Research Ltd, where they will undergo
sample preparation in advance of being sent to Activation
Laboratories Ltd for analysis. Results are expected in late
September.
The Company looks forward to the results of these samples and
from the continued RAB drilling.
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.