Cantex Announces Field Work Underway at Massive Sulphide Project in Yukon
Cantex Announces Field Work Underway at
Massive Sulphide Project in Yukon
KELOWNA, BC
,
July 7, 2020
/CNW/ -
Cantex Mine Development Corp.
(CD: TSXV) (the
"Company") has released an update on the work program at its 100-per-cent-owned 14,077 hectare
North Rackla claim block in the
Yukon
.
Dr.
Chuck Fipke
reports
HIGHLIGHTS
Structural mapping of mineralized core from Massive Sulphide project complete
Surface structural mapping of Massive Sulphide project underway
Prospecting, rock sampling and geologic mapping commenced
Drilling to commence in August
Progress on Structural Mapping of Massive Sulphide Project
Structural geologist
Chris Buchanan M.Sc.
, P.Geo. is on-site conducting a study of the area
surrounding Cantex's high-grade silver-lead-zinc Massive Sulphide discovery within the North Rackla
claim block. Buchanan has completed an examination of mineralized core stored off-site and spent a
month on-site in the
Yukon
reviewing core from the 2019 drill program. Preliminary results indicate
late, cross-cutting faults offset the massive sulphide lenses along strike. Surface mapping has
commenced to help interpret the effect of the faults on the mineralization. The surficial structural
data will be integrated with drill hole data to develop a new structural geological map and geological
model of the project area. These new concepts will be used to identify and prioritize drill targets for
the upcoming drill program.
Expansion Work on Massive Sulphide Project
Geochemical results from the Company's soil-talus sampling have indicated that there is a second
zone of mineralization parallel to, but offset from, the main zone Massive Sulphide. Prospecting,
rock sampling and geologic mapping are now underway to better define this second zone.
Drill Program
The structural mapping and work on the parallel zone are expected to be completed in early August,
prior to the commencement of a major drill program in mid-August.
The work will be used to extend the known mineralization along strike and to depth, particularly in
areas covered by thick overburden. Additionally, the new geological model for massive sulphide
mineralization will be used to evaluate new target areas identified from the soil-talus sampling.
Cantex is looking forward to another productive exploration season in the
Yukon
.
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 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 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.
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For further information:
Cantex Mine Development Corp, Tel: +1-250-860-8582; Email:
CO: Cantex Mine Development Corp.
CNW 09:00e 07-JUL-20