Cantex Provides Drill Program Detail for North Rackla Claims, Yukon
Cantex Provides Drill Program Detail for North
Rackla Claims, Yukon
KELOWNA, BC
,
June 14, 2018
/CNW/ -
Cantex Mine Development Corp.
(TSXV: CD) (the
"Company") is pleased to announce its planned summer drill program on two areas within its 100%
owned North Rackla claim group in the
Yukon
. The drill program is anticipated to commence in mid
July, and the drill rig is already on site.
Northern Gold Area
Cantex has discovered a mineralized area in the northern portion of the approximately 15km by
15km North Rackla claim block. Mineralization outcrops within a
120m
by
150m
area where a
stromatolitic dolomitic unit is exposed beneath a sandy bedded dolomitic unit. Prospecting, rock
sampling and trenching have returned results as high as 15.75 g/t gold, 377 g/t silver, 11.0% lead
and 32.5% zinc.
An initial five inclined holes are planned to test this mineralized zone.
Massive Silver, Lead, Zinc and Copper Area
A massive sulphide zone stretching over two kilometers long has been discovered by Cantex. The
massive sulphide mineralization hosts elevated silver, lead, zinc and copper values as shown in the
rock sampling, trenching and drilling undertaken to date. Trenching of the northeastern end of the
zone returned
15.7m
of 36 g/t silver, 7.04% lead and 1.85% zinc and a second parallel mineralized
horizon approximately ten metres away containing
5.6m
of 54 g/t silver, 1.95% zinc and 0.48%
copper. These trenches tested oxidized mineralization.
At the southwestern end of the mineralization eight drill holes were completed in late 2016. This
drilling encountered oxidized mineralization that increased in grade and width with depth (see cross
sections on
www.cantex.ca
). The deepest intervals occur in hole YKDD-0006 which include
4.05m
(from
22.95m
) of 21.1 g/t silver, 2.12% lead and 1.79% zinc;
5.7m
(from
33.0m
) of 137 g/t silver,
2.8% lead and 0.83% zinc; and
4.4m
(from
43.7m
) of 49 g/t silver, 5.35% lead and 5.99% zinc.
Cantex intends to drill both the northeastern and southwestern portions of the massive sulphide
zone. Drilling from three drill pads is proposed to test the mineralization beneath the substantial
widths encountered in trenching at the northeastern end. At the southwestern end Cantex will test
the mineralization at greater depth, to determine whether the mineralization grade and thickness
continue to increase.
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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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
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past, events. In this context, forward-looking statements often address expected future business
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"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: http://www.newswire.ca/en/releases/archive/June2018/14/c7236.html
%SEDAR: 00010333E
For further information:
Cantex Mine Development Corp, Tel: +250-860-8582; Email:
CO: Cantex Mine Development Corp.
CNW 15:21e 14-JUN-18