KELOWNA, BC, Dec. 2, 2016 /CNW/ - Cantex Mine
Development Corp. (CD: TSXV) (the "Company") is pleased to
report all eight core holes drilled to date have intersected the
oxidized massive sulphide zone that has been traced for at least
1,900 metres with surface sampling.
A summary of the first seven holes all drilled from a site at
GPS locality easting 563105 and northing 7153633 is as follows:
Core
Hole
#
|
Azimuth
|
Inclination
|
Commencing
Intercept of
Oxidized
Sulphide Zone
(m)
|
Oxidized
Sulphide-
Apparent
Thickness (m)
|
1
|
148°
|
-45°
|
12.2
|
5
|
2
|
148°
|
-55°
|
14.0
|
10
|
3
|
148°
|
-70°
|
18.0
|
18
|
4
|
129°
|
-55°
|
13.4
|
12.3
|
5
|
129°
|
-70°
|
26.6
|
24.6
|
6
|
129°
|
-80°
|
13.1 &
22.95
|
3 &
25.15
|
7
|
163°
|
-70°
|
14.0 &
39.5
|
21 &
0.5
|
Core holes (1 to 3) were all targeted at a composite sample of
oxidized massive sulphide talus collected over a 25 metre strike
that analyzed 314 g/ton silver, 5.39% lead, 3.39% zinc and 0.66%
copper. Holes 4, 5, and 6 drilled at 129° azimuth and hole 7
drilled at 163° azimuth were drilled on either side the initial
holes (1 to 3).
The drill has been moved to a new site 97 meters northeast of
holes (1 to 7) at coordinates 563174 easting and 713701
northing. This hole is presently being drilled at a 162.45°
azimuth and -50° inclination towards a composite sample zone of
oxidized massive sulphide talus collected over a 25 metre strike
length that analyzed 169 g/ton silver, 5.93% lead, 1.29% zinc,
1.97% copper and 13 ppb gold. The core to 75 metres has been
examined and a 6.2 metre intercept of oxidized massive sulphides
with visible pyrite and sphalerite occur at an intercept depth of
46.8 metres.
Core from some of the initial holes has recently arrived in
Kelowna, BC. Geologist Dr.
Trygve Hoy will commence logging the
core by December 5, 2016. The
logged core will be sawed in half and one-half assayed for based
and precious metals.
A map illustrating the positions of all the foregoing holes is
available on our website at www.cantex.ca.
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
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.