KELOWNA, BC, Dec. 16, 2020 /CNW/ - Cantex Mine Development
Corp. (TSXV: CD) (the "Company") has commenced drilling on its
wholly owned Baxter Springs East property in Nevada.
Dr. Chuck Fipke reports
HIGHLIGHTS
- Drilling has commenced on Baxter Springs East
- Three additional properties also ready to drill
Baxter Springs East Project
Drilling has now commenced on the Baxter Springs East project in
Nevada. Five holes are planned on this project, totalling 975
metres of reverse circulation drilling.
The project, staked to cover a gold-anomalous drainage detected
by the Company's regional heavy mineral sampling, lies within the
Round Mountain Gold Mine Trend. Subsequent work, including
prospecting, geological mapping, soil-talus sampling and a CSAMT
(Controlled Source Audio-frequency Magneto-Telluric) geophysical
survey identified two drill targets. These drill targets
are:
- A west-northwest trending arsenic – antimony – mercury ± gold
anomaly within phyllitic Paleozoic rocks. The CSAMT survey suggests
the anomaly may be fault bound, with two vertical, moderately
resistive zones at depth possibly reflecting altered
metasedimentary rocks
- A north-northwest trending gold – antimony - bismuth anomaly in
an area that the CSAMT survey shows a resistivity high which could
be a block of silicified rock or an intrusive
Cantex looks forward to the results of this drilling.
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.