KELOWNA, BC, Sept. 13, 2021 /CNW/ - Cantex Mine Development
Corp. (TSXV: CD) (the "Company") has released an update on the
work program at its 100-percent-owned 14,077 hectare North Rackla
claim block in the Yukon.
Dr. Charles Fipke reports:
Main Zone Drill Results
Since the news release of July 13,
2021, ten core holes have been completed from drill pads
MZ36, MZ49A, MZ50A, MZ51 and MZ51A in the central and northeastern
part of the Main Zone (refer to Map 1). Exceptionally strong
lead-zinc massive sulphide intersections were encountered in nine
of the ten holes drilled with strong copper mineralization present
in seven of the nine holes. The mineralized intersections varied in
apparent widths up to 11.3 metres. Drill confirmed mineralization
extends 2.1km from the strongly mineralized Extension Target to Pad
MZ51A. The mineralization is open to depth and along
strike.
High Grade Copper – Anomaly G66
Two core holes, each at a -45 degree dip were drilled to test
the area of surface rock sampling that analyzed up to 21.7% copper
and 60 g/ton silver. Massive chalcopyrite (copper-rich sulphide)
was intersected between 20.5 and 20.8 metres in the first core hole
drilled at an azimuth of 261 degrees and moderate to strong
chalcopyrite was intersected between 47 and 55.4 metres in the
second hole drilled at an azimuth of 286 degrees. However,
the actual target depth was about 90 metres to the zone of
surficial high grade copper mineralization in rock/talus so it is
believed that the zone of surficial high-grade copper has not yet
been intersected. See Map 2 for the location of Anomaly
G66.
Two possible explanations have been identified for the location
of the mineralization.
First, structural geologist Chris
Buchanan has indicated the high-grade surficial copper to be
controlled by axial plane cleavage faults of a F1 syncline
(synform). It is thus possible that the drill holes passed
under the copper mineralization controlled by the syncline. A
vertical hole at the site of the surficial high- grade copper
would determine the thickness and grade of copper mineralization
within the syncline and determine underlying bedding dips (valuable
for structural interpretation).
Second, the zone of high-grade surficial rock/talus copper
mineralization is not outcropping because it is covered by
extensive talus and alpine glacial sediments. An alpine
glacier has moved downslope in an east to west direction covering
the north-south trending zone of mineralization in talus. It
is thus possible that the high-grade copper mineralization in talus
has been moved by the alpine glacier (and perhaps talus slides)
from upper dolomitic units in the east, westward downslope to the
present north-south trending area containing the high-grade copper
mineralization in rock/talus.
Further work to be done consisting of soil-talus samples will be
collected beginning at the highest topography in the east, down the
slope of the alpine glacier westward to the high-grade surficial
copper zone. The analytical results of these soil-talus
samples for copper will determine whether there is a high-grade
copper zone east of the present drill pad.
The drill rig will remain on site until it is determined whether
it should be moved eastward or alternatively to the high-grade
copper zone to test the possible synclinal thickness with a
vertical hole.
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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accuracy of this release. Information set forth in this news
release includes forward-looking statements under applicable
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relate to future, not past, events. In this context,
forward-looking statements often address expected future business
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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
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SOURCE Cantex Mine Development Corp.