KELOWNA, Aug. 22, 2018 /CNW/ - As of August 19, Cantex Mine Development Corp.
(TSXV: CD) (the "Company") has completed four core holes
toward the steeply dipping oxidized discovery outcrop of 15.7 meter
apparent width. In addition, four core holes have been
drilled into the southern extension zone. These two zones
occur within a massive sulphide zone of at least 3 kilometers in
length on the 100% Cantex owned North Rackla claims located about
110 km northeast of Victoria Gold Corp.'s proposed Eagle Gold Mine
in the Central Yukon.
![Cantex Mine Development Corp. (CNW Group/Cantex Mine Development Corp.) Cantex Mine Development Corp. (CNW Group/Cantex Mine Development Corp.)](https://mma.prnewswire.com/media/734094/Cantex_Mine_Development_Corp__Cantex_Intersects_Fresh_Massive_Su.jpg)
In the discovery area, the two deep holes numbered 3 and 4 did
not intersect the oxidized near surface massive sulphide zones
intersected in hole 1 over 15.4 meters apparent width, and in hole
2 over 4.66 and 9.96 apparent widths. The geologists think
that it is possible the lower most zone has been thrust faulted to
the northwest to an area where a subparallel highly anomalous zone
of silver-copper-lead-zinc-manganese in soil talus occurs.
Geologist Dr. Trygve Hoy, who logged
the drill core previously obtained from the southern extension, is
going to the property on August 22 to
undertake geologic mapping and investigate the thrust fault
possibility. Additional soil-talus and rock sampling is being
completed this year in case the anomalous area to the northwest
will warrant drilling next year.
The drill was moved to the southern extension of the massive
sulphide wherein previous near surface drilling intersected
oxidized massive sulphides analysing 214.3 g/ton silver, 0.7%
copper, 2.22% lead and 1.11% zinc over an apparent width of 5.6
meters with high grade sections yielding up to 1,040 g/ton silver,
29.6% lead and 2.19% zinc over 0.85 meter apparent width.
Three new holes were drilled here at 137° azimuth southeasterly at
dips of -62°, -70°, and -80° into this oxidized massive sulphide
zone steeply dipping at about 80o to the northwest.
All three drill holes that have been drilled below this oxidized
massive sulphide intersection have intersected fresh
silver-lead-zinc massive sulphides of 15.5 meter, 16.0 meter and
21.8 meter apparent widths at depths of 61 meters, 84 meters,
and 156 meters respectively below the previous intersection.
We are most encouraged as these intersections demonstrate the
massive sulphide zone maintains a substantial thickness at
depth.
A fourth core hole has been drilled at a 102° azimuth and -60°
dip toward southwest trending massive sulphide from the same drill
pad as the three holes. This hole has also intersected fresh
massive sulphides over a 9 meter apparent width between 125.4 and
134.4 meters.
The drill rig is now in the process of drilling a fifth hole
from the same drill pad at a 192° south azimuth and -60° dip.
When complete, the drill will be moved to a pad to drill the
previous untested northern gold-silver-copper-lead-zinc discovery
located about 8 km northward on the same North Rackla claims.
This discovery has yielded many rock grab and trench samples
assaying to 15.7 g/ton gold, 377 g/ton silver, 22% zinc, 11% lead
and 0.3% copper.
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.