Cantex Intersects Copper Mineralization IN First Three Holes ON Its North Rackla Copper-GOLD, Germanium and Base Metal Project IN the Yukon
CANTEX INTERSECTS COPPER
MINERALIZATION IN FIRST THREE HOLES ON
ITS NORTH RACKLA COPPER-GOLD,
GERMANIUM AND BASE METAL PROJECT IN
THE YUKON
KELOWNA, BC
,
June 10, 2024
/CNW/ -
Cantex Mine Development Corp.
(TSXV: CD) (OTCQB:
CTXDF) (the "Company") is pleased to announce that it has intersected copper mineralization in its
first three holes drilled at its North Rackla project, Yukon.
Copper Project Drilling
Since drilling first commenced on
June 3, 2024
three diamond drill holes have now been completed
at the Copper Project on the western side of the Company's North Rackla property. Previous drilling
on this project intersected 2.5 metres of 3.93% copper including 1 metre of 7.32% copper (see
news release of
April 13
, 2023).
Hole YKDD24-287 was drilled at a -45 degree dip and 13 degree azimuth. It intersected 1.8 metres
of an estimated 8% chalcopyrite contained within a quartz carbonate breccia from 7.1 metres
depth. Hole YKDD24-288 was drilled from the same pad at a -45 degree dip at an azimuth of 35
degrees. This hole intersected 17 metres of an estimated 2% chalcopyrite from 9.5 metres depth.
Hole YKDD24-289 intersected 5.05 metres of an estimated 2% chalcopyrite from 3.3 metres depth.
The hole was from the same pad, at a dip of -45 degrees and an azimuth of 305 degrees.
Following logging the mineralized portions of the holes are split. One half of the split core is in the
process of being submitted to laboratories for sample preparation and analysis for copper, gold and
associated elements. Results will be reported as soon as available.
About Cantex
Cantex is focused on its 100% owned 20,000 hectare North Rackla Project located 150 kilometers
northeast of the town of
Mayo
in the
Yukon Territory, Canada
where high-grade massive sulphide
mineralization has been discovered. Over 60,000 meters of drilling has defined high grade silver-
lead-zinc-germanium mineralization over 2.3 kilometers of strike length and 700 meters depth. The
mineralization remains open along strike and to depth. The Company is led by Dr
Charles Fipke
,
C.M., the founder of Ekati,
Canada's
first diamond mine.
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,
Chad Ulansky
Chad Ulansky
President and CEO
FORWARD LOOKING STATEMENTS: Certain of the statements and information in this press
release constitute "forward-looking statements" or "forward-looking information", including
statements regarding the expected use of proceeds of the private placement. Further, any
statements or information that express or involve discussions with respect to predictions,
expectations, beliefs, plans, projections, objectives, assumptions or future events or performance
(often, but not always, using words or phrases such as "expects", "anticipates", "believes", "plans",
"estimates", "intends", "targets", "goals", "forecasts", "objectives", "potential" or variations thereof or
stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken,
occur or be achieved, or the negative of any of these terms and similar expressions) are not
statements of historical fact and may be forward-looking statements or information. The
Company's forward-looking statements and information are based on the assumptions, beliefs,
expectations and opinions of management as of the date of this press release, and other than as
required by applicable securities laws, the Company does not assume any obligation to update
forward-looking statements and information if circumstances or management's assumptions,
beliefs, expectations or opinions should change, or changes in any other events affecting such
statements or information. For the reasons set forth above, investors should not place undue
reliance on forward-looking statements and information.
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.
SOURCE
Cantex Mine Development Corp.
View original content to download multimedia:
http://www.newswire.ca/en/releases/archive/June2024/10/c6909.html
%SEDAR: 00010333E
For further information:
Cantex Mine Development Corp, Tel: +250-860-8582; Email:
CO: Cantex Mine Development Corp.
CNW 09:26e 10-JUN-24