Cantex Extends Strike of Main High Grade Massive Sulphide Zone and Provides Drilling Update for G66 High Grade Copper Anomaly on the North Rackla Project, Yukon
Cantex Extends Strike of Main High Grade
Massive Sulphide Zone and Provides Drilling
Update for G66 High Grade Copper Anomaly
on the North Rackla Project, Yukon
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.
Map 1.
2021 drill pad locations at Main Zone. (CNW Group/Cantex Mine Development Corp.)
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.
Map 2.
Location of G66 high grade copper anomaly. (CNW Group/Cantex Mine Development Corp.)
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
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 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.
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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 13-SEP-21