KELOWNA, BC, June 14, 2018 /CNW/ - Cantex Mine
Development Corp. (TSXV: CD) (the "Company") is pleased to
announce its planned summer drill program on two areas within its
100% owned North Rackla claim group in the Yukon. The drill program is anticipated to
commence in mid July, and the drill rig is already on site.
Northern Gold Area
Cantex has discovered a mineralized area in the northern portion
of the approximately 15km by 15km North Rackla claim block.
Mineralization outcrops within a 120m
by 150m area where a stromatolitic
dolomitic unit is exposed beneath a sandy bedded dolomitic
unit. Prospecting, rock sampling and trenching have returned
results as high as 15.75 g/t gold, 377 g/t silver, 11.0% lead and
32.5% zinc.
An initial five inclined holes are planned to test this
mineralized zone.
Massive Silver, Lead, Zinc and Copper Area
A massive sulphide zone stretching over two kilometers long has
been discovered by Cantex. The massive sulphide
mineralization hosts elevated silver, lead, zinc and copper values
as shown in the rock sampling, trenching and drilling undertaken to
date. Trenching of the northeastern end of the zone returned
15.7m of 36 g/t silver, 7.04% lead
and 1.85% zinc and a second parallel mineralized horizon
approximately ten metres away containing 5.6m of 54 g/t silver, 1.95% zinc and 0.48%
copper. These trenches tested oxidized mineralization.
At the southwestern end of the mineralization eight drill holes
were completed in late 2016. This drilling encountered
oxidized mineralization that increased in grade and width with
depth (see cross sections on www.cantex.ca). The deepest intervals
occur 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.
Cantex intends to drill both the northeastern and southwestern
portions of the massive sulphide zone. Drilling from three drill
pads is proposed to test the mineralization beneath the substantial
widths encountered in trenching at the northeastern end. At the
southwestern end Cantex will test the mineralization at greater
depth, to determine whether the mineralization grade and thickness
continue to increase.
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
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SOURCE Cantex Mine Development Corp.