KELOWNA, BC, July 31, 2018 /CNW/ - Cantex Mine Development
Corp. (CD: TSXV) (the "Company") is pleased to announce that
its drill program at the 100% owned North Rackla claims has
commenced and that mineralization has been intersected in the first
two holes ever drilled into the discovery outcrop. The
Massive Sulphide zone extends for three kilometres in strike
length.
Both holes were drilled from a drill pad situated on a spur
connecting the main hillside to a pinnacle of the steep slope below
the discovery end of the massive sulphide zone. The massive
sulphides dip steeply towards the drill collar at about 80°. The
upper hole intersected the goethite weathered massive sulphide zone
to about 24 meters below the surface outcrop. Channel trench
samples collected previously across the weathered outcrop analyzed
7.04% lead, 1.85% zinc and 36 g/t silver over an apparent width of
15.7 metres including a 3 metre section analyzing 20.25% lead,
2.39% zinc and 107g/t silver.
The upper hole was inclined at -44 degrees and intersected
oxidized mineralization over a 15.4 metre apparent width from 9.22
to 24.62 metres. The hole intersected a bedded, goethitic,
fractured dolomite breccia to 9.22 metres and a dolomite breccia
from 24.62 metres to the end of hole. The 15.4 meter intersection
of massive sulphides was intensely weathered to goethitic
gossan.
The second hole was drilled from the same site as the upper hole
at an inclination of -63° towards the sharply dipping massive
sulphide zone. The still goethitic-weathered massive sulphide zone
was intersected over a 4.66 metre apparent width from 11.00 metres
to 15.66 metres and a 9.96 metre apparent width between 17.35 and
27.31 metres. The start of the hole, between the mineralized
zones and end of the hole intersected clastic layered fractured,
goethitic, dolomitic breccia. The hole was ended at 49.71
metres depth.
The drill has now been moved to a second pad located part way
down the slope directly below the pad for the first two
holes. The third hole is presently being drilled at a -50°
inclination towards the discovery outcrop so that the
mineralization is projected to be intersected at about 125 metres
vertically below the second hole intersection. This hole, collared
in 2 metres of overburden, intersected a previously unknown gossan
containing galena in-between 2 and 14 metres. The first 67
metres have been examined and after the initial gossan drilling has
intersected mostly clastic layered dolomite breccia. The main
massive sulphide zone is expected to be intersected at about 100
metres.
Two further drill pads are being prepared at the discovery
outcrop to allow a deeper evaluation of the massive sulphide at the
discovery zone. Drilling from these pads is expected to intersect
mineralization at 230 and 430 metres below surface.
When drilling is complete at this site the rig is scheduled to
move to the southwestern end of the massive sulphide mineralization
to an area wherein previous surficial drilling encountered 16
weathered goethitic massive sulphide intersections (see
April 7, 2017 News Release). As the
intersections increased in grade with depth, additional drilling
below the high grade silver-copper-lead-zinc intersections is
warranted.
As this long (three km strike length) massive sulphide zone is
hosted in clastic marine sediments of Proterozoic age, the
Cantex directors are hopeful that the massive sulphides are similar
to other Proterozoic massive sulphide deposits hosted in clastic
marine sediments (such as Sullivan BC, and Mount Isa & Broken
Hill in Australia).
After this year's drilling of the massive sulphides is complete
the drill is scheduled to be moved to drill a newly discovered but
not yet drilled gold deposit in the northern part of the same North
Rackla claims (see October 11, 2016
News Release for details).
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.