Cantex Discovers New Gossan at North Rackla; Expands Prospective Strike Length to 4km
Cantex Discovers New Gossan at North
Rackla; Expands Prospective Strike Length to
4km
KELOWNA, BC
,
Sept. 10, 2019
/CNW/ -
Cantex Mine Development Corp.
(CD: TSXV) (the
"Company") has released an update on the work program at its Massive Sulphide project within its
100-per-cent-owned 14,077 hectare North Rackla claim block.
Dr.
Charles Fipke
reports
GEOPHYSICAL SURVEY EXPANDS PROSPECTIVE STRIKE LENGTH TO OVER 4 KILOMETRES
An airborne magnetic survey completed earlier this year has recently been processed and
interpreted (Figure 1). The results of the survey have provided valuable insight in terms of correlating
mapped surface exposures and drill results with geophysical trends for the first time. The survey
shows a linear anomaly that correlates well with the mapped surface trace of the massive sulphide
Main Zone and intercepts of the zone in drill core. Based on this geophysical interpretation, the
massive sulphide Main Zone trend has expanded by one kilometre, to 3.4 kilometres, of total strike
length.
An additional ~1 kilometre of prospective strike length has also been identified at the "New Gossan"
South Zone, detailed further below. The South Zone shows similar geophysical character and is
parallel to the Main Zone, which correlates well with its mapped 1,200 metre long exposure at
surface. In total, there are now approximately 4.1 kilometres of strike length at North Rackla that are
deemed to be prospective.
The survey also clearly defines a steeply dipping post-mineralization mafic dike swarm that cuts
through the area running from Pads MZ7 to MZ13 (~300m of strike). This E-W trending mafic dike
swarm intruded after the sulphides were emplaced and has digested and remobilized the zone in this
segment, but the occurrence is localized. To that end, heavy massive sulphides have been logged at
Pad MZ12, but are away from the mafic dikes. Additional drilling along the strike of the Main Zone to
the northeast and southwest of the dikes has confirmed the presence of heavy massive sulphides as
detailed in the Company's
September 5, 2019
press release. The Main Zone continues to show
predictable geometry and orientation and is consistently found along a stratigraphic boundary
between argillite and dolostone.
Surface prospecting in the North Rackla claim block continues, with talus samples along a parallel
trend to the northwest of the Main Zone showing anomalous geochemistry. This trend will be
followed up on in due course.
Figure 1. Main & South Zone Expressions on Airborne Magnetic Survey (CNW Group/Cantex Mine
Development Corp.)
NEW MASSIVE OUTCROPPING GOSSAN ZONE DISCOVERED; DRILLING UNDERWAY
Prospecting and sampling carried out 1 kilometre south of the Main Zone has resulted in the
discovery of a new exposure of outcropping massive gossan (weathered sulphides). This steeply
dipping gossan has been traced for 1,200 metres along surface and down 320 metres of elevation,
with exposed apparent widths at surface ranging from 2 to 20 metres. As discussed above, the
exposure of the zone correlates well with a linear feature that can be traced for over 1 kilometre of
strike length on the recently interpreted magnetic survey. The geophysical character of this zone is
comparable to that of the Main Zone.
Assays of grab samples taken from this gossan have returned significantly elevated zinc and
manganese levels (up to 12.35% Zn and up to 5.82% Mn), which are also key geochemical markers
seen at the Main Zone. The location of this new South Zone in relation to the Main Zone is shown in
Figure 1, attached to this press release. The high manganese values are unique to the massive
sulphides of the Main Zone in the area and are believed to be indicative of a basinal sedex
environment.
In light of the geophysical results and outcropping massive gossan at surface, one drill rig was
recently mobilized to the new South Zone target where drilling is underway, targeting the down-dip
extension of the gossan.
ASSAY TABLE
Full assay data from the first 2,648 metres of assayed drill core (first released on
September 5,
2019
) is included below and should be reviewed in conjunction with the figures within this release and
on the Company's website (
www.cantex.ca/yukon
). The drill results are presented and summarized
in Table 1.
Pads MZ7 and MZ8 are within the area affected by the mafic dike swarm discussed above and
were spotted and drilled before the results of the airborne magnetic survey were received.
As previously reported (
September 5, 2019
), heavy massive sulphides have been logged in two fans
of five drill holes (all ten holes) from each of Pad MZ3 and Pad MZ4, as well as a fan of four holes
from Pad MZ26. Pads are not drilled in numerical order and drilling is ongoing; both along strike
(ENE and WSW) and down dip within the Main Zone where the zone has thus far been intersected
down to 335 metres vertical depth. Additional drill pads are being built to support drilling further
down dip. Drill pads with summer-only access are being prioritized while pads on flatter ground will
be drilled later in the season.
Table 1: Assay results to date
Pad
Dip
Hole
From
(m)
To
(m)
Length
(m)
True
Width
(m)
Silver
(g/t)
Lead
(%)
Zinc
(%)
Copper
(%)
Manganese
(%)
Comment
MZ5
-45
YKDD19-039
35.2
45.3
10.1
8.27
9.72
0.92
0.75
0.03
2.32
Oxidized Sulphide
52.0
55.5
3.5
2.87
23.45
1.9
2.95
0.01
1.04
-62
YKDD19-040
30.1
56.6
26.5
16.32
153.57
3.10
2.44
0.42
4.09
Fresh Sulphide
-70
YKDD19-042
32.7
61.0
28.3
14.15
113.96
9.34
12.37
0.09
3.05
Fresh Sulphide
Including
36.1
37.1
1.0
0.50
134.00
56.59
0.40
0.03
4.32
And
46.0
50.0
4.0
2.00
150.50
7.39
36.96
0.05
2.53
And
56.0
59.0
3.0
1.50
213.33
10.73
41.43
0.10
1.41
-80
YKDD19-043
61.8
84.4
22.6
8.47
48.20
8.20
4.90
0.04
3.20
Fresh Sulphide
Including
61.8
64.8
3.0
1.12
55.33
21.91
1.48
0.01
4.07
And
72.2
73.3
1.1
0.41
235.40
49.30
3.72
0.11
1.99
And
75.3
78.4
3.1
1.16
97.47
6.87
21.23
0.05
3.02
-90
YKDD19-046
Results Pending
Fresh Sulphide
MZ6
-52
YKDD19-020
86.3
87.0
0.7
0.52
569.00
0.66
2.08
1.68
2.09
Oxidized Sulphide
87.2
88.4
1.2
0.89
14.45
1.67
1.23
0.01
5.07
91.0
93.6
2.6
1.93
15.78
3.34
3.55
0.01
3.44
97.7
98.3
0.6
0.45
8.66
1.19
1.96
0.01
3.25
MZ7
-45
YKDD19-023
91.8
97.2
5.4
4.42
5.26
1.56
1.77
0.01
3.19
Dike Swarm
129.5
130.2
0.7
0.57
16.95
4.00
4.25
0.02
3.54
-62
YKDD19-025
116.6
117.3
0.7
0.43
46.7
2.51
2.74
0.20
0.17
Dike Swarm
123.8
125.3
1.5
0.92
3.48
0.56
2.25
0.00
1.76
-70
YKDD19-027
135.1
137.5
2.4
1.20
106.95
7.69
25.82
0.09
5.93
Dike Swarm
-80
YKDD19-029
Results Pending
Dike Swarm
MZ8
-45
YKDD19-022
100.5
101.4
0.9
0.74
8.45
2.75
1.75
0.00
1.63
Dike Swarm
-62
YKDD19-024
No significant results
Dike Swarm
-70
YKDD19-026
No significant results
Dike Swarm
-80
YKDD19-028
No significant results
Dike Swarm
SUMMARY
Cantex is highly encouraged by the results to date at North Rackla where the recently interpreted
magnetic survey has allowed the Company to correlate drill core and outcrop to geophysical
character for the first time, while extending the mapped prospective strike length in areas without
surface exposure. With more than 4 kilometres of mapped prospective strike length now identified at
North Rackla, drilling is continuing to encounter massive sulphides in the Main Zone in both directions
along strike and at depth along an argillite-dolostone contact.
Two drills are currently focused on the southwest portion of the Main Zone while the third is testing
the newly discovered South Zone. With 68 holes and over 15,500 metres drilled to date, Cantex
looks forward to providing additional assays and operational updates from its ongoing exploration
and delineation program in the near future.
In light of the good drilling productivity seen to date, it is expected that the company will expand its
drill program beyond the initially planned 17,000 metres of drilling during 2019.
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.
View original content to download multimedia:
http://www.newswire.ca/en/releases/archive/September2019/10/c1839.html
%SEDAR: 00010333E
For further information:
Cantex Mine Development Corp, Tel: +1-250-860-8582; Email:
CO: Cantex Mine Development Corp.
CNW 09:00e 10-SEP-19