KELOWNA, BC, June 28, 2017 /CNW/ - Cantex Mine Development
Corp. (CD: TSXV) (the "Company") is pleased to announce its
summer program on its North Rackla claim group in the Yukon.
Gold Targets
Cantex is planning to drill the Northern gold - lead - zinc -
silver area with a core drill rig which is already positioned on
its 100% owned North Rackla project. An initial five inclined
holes are planned to penetrate a sandy bedded dolomitic capping
rock unit into a mineralized stromatolitic dolomite unit.
Trench, grab and float samples from the mineralized dolomite unit
have previously assayed as high as 15.75 g/t gold, 11.0% lead,
32.5% zinc and 169 g/t silver.
Additional prospecting, soil-talus sampling and trenching is
planned for four target areas that have preciously yielded
anomalous gold values in soil-talus and rock samples.
Massive Silver, Lead, Zinc, Copper and Manganese
Targets
Drilling of eight inclined core holes into the copper - lead -
zinc - silver - manganese oxidized massive sulphide mineralization
last fall indicates that the mineralization increases in grade and
width with depth (see cross sections on www.cantex.ca). Thus,
Cantex geologists expect that deeper drilling into the
80o northwest dipping mineralization should result in
increased unoxidized grades and thicknesses over and above the
deepest mineralized intervals intersected to date. This
interval occurs in hole YKDD-0006 which include 4.05m (from 22.95m)
of 21.1 g/t silver, 2.12% lead and 1.79% zinc; 5.7m (from 33.0m) of
137 g/t silver, 2.8% lead and 0.83% zinc; and 4.4m (from 43.7m) of
49 g/t silver, 5.35% lead and 5.99% zinc.
However, an analysis of the soil and rock geochemical results of
the 3,000m long anomalous massive sulphide zone indicates that the
most anomalous copper areas correspond with the most anomalous
areas of manganese, silver and lead. The highest zinc
anomalies accompanied with lead are typically peripheral to the
areas most anomalous in copper, manganese, silver and lead.
These results are consistent with the interpretation that areas
most anomalous in copper, manganese, silver and lead represent the
original fault controlled vents from which the mineralizing fluids
ascended and precipitated the sulphide mineralization in shallow
marine conditions.
Within the 3,000m strike length there are seven areas of highly
anomalous copper, manganese, silver, lead and zinc in soil-talus
which represent drill targets most likely to intersect the highest
metal tenor. The soil-talus results have also identified a
second parallel anomalous zone 1,200 meters northwest of the
originally identified zone that contains an additional four
strongly anomalous copper, manganese, silver, lead and zinc drill
targets.
The highest copper, manganese, silver, lead and zinc results in
soil-talus and rock samples within the zone occur 2,000m along
strike to the northeast of where the drilling was conducted last
fall. Trenching of this area last year yielded two parallel
oxidized zones separated by approximately 10m. The first zone
contained 15.7m of 36 g/t silver, 7.04% lead and 1.85% zinc
including a 3m interval containing 107 g/t silver, 20.25% lead and
2.39% zinc. The second 5.6m zone yielded 54 g/t silver, 0.48%
copper and 1.95% zinc including a 1.6m interval assaying 124 g/t
silver, 1.01% copper and 2.40% zinc.
Cantex anticipates drilling into this zone which locally gives
the highest copper, manganese, silver, lead and zinc soil-talus
results of the entire survey. By drilling an inclined hole
southeasterly through talus below this massive sulphide outcrop
(NE-SW striking, 80o NW dipping) Cantex geologists
expect to intersect fresh massive sulphide mineralization.
Cantex is presently seeking joint venture partners to earn
interests by contributing towards funding the scheduled drill
programs.
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. Information set forth in this news
release includes forward-looking statements under applicable
securities laws. Forward-looking statements are statements that
relate to future, not past, events. In this context,
forward-looking statements often address expected future business
and financial performance, and often contain words such as
"anticipate", "believe", "plan", "estimate", "expect", and
"intend", statements that an action or event "may", "might",
"could", "should", or "will" be taken or occur, or other similar
expressions. All statements, other than statements of historical
fact, included herein including, without limitation; statements
about the terms and completion of the proposed sale transaction are
forward-looking statements. By their nature, forward-looking
statements involve known and unknown risks, uncertainties and other
factors which may cause the actual results, performance or
achievements, or other future events, to be materially different
from any future results, performance or achievements expressed or
implied by such forward-looking statements. Such factors include,
among others, risks identified in the management discussion and
analysis section of the Company's interim and most recent annual
financial statement or other reports and filings with Canadian
securities regulators. Forward looking statements are made based on
management's beliefs, estimates and opinions on the date that
statements are made and the respective companies undertakes no
obligation to update forward-looking statements if these beliefs,
estimates and opinions or other circumstances should change, except
as required by applicable securities laws. Investors are cautioned
against attributing undue certainty to forward-looking
statements.
SOURCE Cantex Mine Development Corp.