KELOWNA, BC, Oct. 30, 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
projects.
Rotary Air Blast Drilling at the Central North
Rackla Anomaly
Results from 46 bedrock samples from 39 rotary
air blast (RAB) drill holes have now been received. X-ray
fluorescence (XRF) analysis in the field of these samples detected
anomalous arsenic. Fire assay by ALS Chemex detected elevated
gold values in 13 of the holes ranging up to 75ppb.
The Chemex results detected substantially higher
arsenic contents as compared to the field XRF analyses in 8 of the
46 samples, demonstrating the limitations of the field
analyses. Consequently 216 bedrock samples from 130 rotary
air blast drill holes have been prepared at the CF Mineral Research
Ltd laboratory and submitted to ALS Chemex for analysis. The
results will be reported when received.
The results from the 39 holes received have shown
that these holes did not intersect the source area of the highly
anomalous gold, arsenic, antimony and other key pathfinder element
anomalies found at the central anomaly. As the anomaly area
is nearly completely covered in alpine glacial till Cantex recently
completed a ground magnetic survey over the covered area and it
appears the survey may define a carbonate-rich zone thought to host
gold mineralization. The distribution of the RAB drill hole
results to date suggests that an epithermal gold-arsenic-antimony
system has been detected. The sudden onset of winter
prevented mobilization of our RAB drill to our highest soil-talus
gold anomaly within this central zone. As such the RAB drill
has been stored in the field to allow completion of the drill
program in the spring.
North Rackla and Mount Good Soil-Talus
Follow-Up
At the North Rackla and Mt. Good claim blocks a
total of 6,740 soil-talus samples were collected along infill lines
typically spaced 50 meters apart detailing highly anomalous gold,
base metal and key pathfinder elements anomalies discovered on the
200 meter spaced soil-talus sample lines completed last year.
These samples have been received by CF Mineral Research Ltd where
they will be prepared for analysis. The analytical results of
these samples are expected during this winter and coming spring and
are anticipated to define additional target areas to be drill
tested next season on the North Rackla and Mt. Good properties 100%
owned by Cantex.
We are particularly enthusiastic about the
northern North Rackla gold-arsenic-antimony-silver-zinc anomaly
where the infill soil-talus results should define drill targets
into a steeply dipping mineralized zone. A grab sample from
this zone contained 2.9g/t gold, 7,510ppm arsenic, 318ppm antimony,
77g/t silver, 0.3% copper, 1.64% lead and 19.2% zinc.
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.