KELOWNA, BC, May 4, 2021 /CNW/ - Cantex Mine Development
Corp. (TSXV: CD) (the "Company") is pleased to report the first
five of fourteen reverse circulation drill holes on its 100% owned
Bruner property in Nevada.
Dr. Chuck Fipke reports
Bruner Property
The Bruner property is located in Nye
County, Nevada, which hosts numerous gold mines. Its
location is presented in Figure 1. Cantex completed 14
reverse circulation ("RC") holes on the project and has received
results from five holes.
Table 1 presents the most significant intercepts from the first
five holes, the locations of which are presented in Figure 2.
Table 1. Significant Bruner drill results.
Hole
|
Intersection
|
Length
|
Gold
|
Arsenic
|
Antimony
|
Mercury
|
From
|
To
|
(m)
|
(m)
|
(m)
|
(g/t)
|
(ppm)
|
(ppm)
|
(ppm)
|
733DH21010
|
19.81
|
24.38
|
4.57
|
0.060
|
2.90
|
0.96
|
0.50
|
733DH21011
|
59.44
|
64.01
|
4.57
|
0.054
|
5.13
|
2.54
|
0.64
|
733DH21012
|
16.76
|
19.81
|
3.05
|
0.118
|
4.05
|
2.75
|
0.51
|
733DH21013
|
0
|
39.62
|
39.62
|
0.348
|
11.17
|
10.59
|
0.87
|
733DH21014
|
0
|
7.62
|
7.62
|
0.084
|
25.78
|
1.63
|
2.94
|
36.58
|
42.67
|
6.09
|
0.229
|
27.73
|
1.84
|
1.95
|
54.86
|
65.53
|
10.67
|
0.083
|
5.41
|
1.32
|
0.99
|
79.25
|
118.87
|
39.62
|
0.144
|
9.62
|
0.83
|
1.39
|
Sample Preparation and Analysis
The drill holes reported in this press release were drilled
using reverse circulation drilling with hole diameters between 140
and 146mm. A representative split of the sample was collected
off the drill and sent for geochemical analysis. Another
split of the sample has been stored on site. Samples were
securely transported to the ALS Chemex Laboratory in Reno, Nevada. Here the samples were
dried and crushed to 70% passing 2 mm before a 250 gram split was
pulverized to 85% passing 75 micrometres. The samples were
then analyzed using the AuME-TL43 technique which involves the Aqua
Regia digestion of a 25 gram charge and analysis by ICP-MS and
ICP-AES. Quality control included the insertion of blanks,
standards and field duplicates
Weepah South Property
Drill testing at the Weepah South property determined that the
source of the conductive geophysical anomaly was graphite
interbedded in Paleozoic carbonate rocks rather than the hoped for
conductive gold mineralized target. Analytical results
confirmed that gold mineralization was not present and no
additional work is planned for these claims.
Baxter Springs Property
Five drill holes were completed on the 100% owned Baxter Springs
property and analytical results are pending.
Carico Lake Property
Roads and three drill pads have been constructed at the Carico
Lake property. Three holes totalling 1,100 metres are to be
drilled as soon as a suitable drill is available.
Conclusion
The Cantex directors are most encouraged by the Bruner property
results; the five holes completed to date indicate a Nevada-style
gold-arsenic-antimony system has been intersected.
Structural geological mapping will be undertaken after the
remaining drill results are received. The focus of the
mapping will be to assist in determining where the centre of the
mineralized system is. In addition, work will include rock
chip sampling of the road cuts created by the access roads leading
to the 14 drill sites. It is hoped that these results as well
as the forthcoming analytical results from the nine remaining holes
will further define gold mineralization on the Bruner property.
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 statements 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 undertake 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.