KELOWNA, BC, July 25, 2016 /CNW/ - Cantex Mine Development
Corp. (CD : TSXV) ("Cantex" or the "Company") is pleased to
announce the progress of the 2016 Yukon summer exploration
program. This program focused on the 100% owned North Rackla
claim block in central Yukon.
Yukon Summer Program
- Phase One
Cantex is pleased to report that the first phase of field work
for the summer program in the Yukon is now complete. Four areas were
selected for detailed infill soil-talus sampling to assist in
defining the bedrock source of previously identified geochemical
anomalies. In addition, two target areas were trenched to
allow the collection of in situ samples to assess the tenor and
distribution of mineralization at surface. An initial batch
of soil-talus and rock samples were expedited to CF Mineral
Research Ltd for sample preparation. This preparation is now
complete and these samples have now been shipped to ALS Chemex Ltd
for analysis. The remaining samples from the program have now
arrived at CF Mineral Research and are to be immediately prepared
for analysis.
Prospecting of previously identified anomalies focused on
defining in situ mineralization and also extending previously
identified mineralization. Geological mapping was also
undertaken on two scales; on a regional scale to provide an
understanding of the geological framework of the claims area and
also on a detailed scale to understand the local controls on the
mineralization.
It is expected that the results of this work will assist in
defining drill targets for a planned late summer drill program.
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 operations
at the advanced Al Hariqah gold project are currently suspended and
held by Cantex in Force Majeure. 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.