Cantex Provides Field Update for Yukon Project
Cantex Provides Field Update for Yukon
Project
KELOWNA, BC
,
July 23, 2020
/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
HIGHLIGHTS
Structural mapping provides clarity on Massive Sulphide Zone
Soil-talus sampling program progressing well
Prospecting underway
Drilling to start in mid August
Structural Mapping of Massive Sulphide Zone
Geological mapping by
Chris Buchanan
, M.Sc. P.Geo., has been underway on the North Rackla
Project since the beginning of July. The mapping is focused on the vicinity of the Main Zone silver-
lead-zinc discovery. The objective of this work is to develop an improved structural model of the
Main Zone that provides a better understanding of how faulting has moved the mineralization.
The Main Zone mineralization is hosted within a thick dolomite unit which is underlain by a succession
of siliciclastic rocks (siltstone, sandstone and argillite). This contact, along with distinct layers within
these broader units, allow the faulting and folding history of the area to be determined.
Three generations of folding (F
1
, F
2
, and F
3
in order from earliest to most recent) have been
identified. The F
2
folds are the dominant regional structural feature. They are kilometre scale,
asymmetric and verge to the southeast. In the area of the Main Zone a F
2
fold controls the
orientation of the dolomite which hosts the mineralization. The mineralization occurs in the northeast
striking, steeply dipping southeast limb of the fold.
There have also been multiple generations of faults in the Main Zone area. The earliest were thrust
faults which formed alongside the earlier F
1
and F
2
folds. Three younger generations of brittle faults
have cut across and displaced the mineralization for distances ranging from several metres to 200
metres. Now that the nature of these faults is understood drill targeting will be greatly improved.
The field mapping program is in its final stages. The new geological map of the Main Zone area will
be integrated with existing drill data to improve the current geological model prior to the 2020 drill
program. New drill targets have been identified during the mapping and additional drill targets are
expected to be developed as the drill datasets and surficial geology map are integrated into the 3-D
model.
Prospecting and Rock Sampling
As disclosed in the Company's news recent news release (
July 9, 2020
) Cantex has discovered 48
areas anomalous in gold and/or base metals within the North Rackla claim block. Prospecting and
rock sampling of these anomalies is well underway.
Soil-Talus Sampling
As many of the existing soil-talus geochemical anomalies are not completely closed off additional
soil-talus sampling is needed to establish the exact dimensions of the anomalous areas. Four
thousand six hundred additional samples have been proposed. The collection of these samples will
be complete before the end of July.
Summary
Cantex is pleased with the progress on the structural mapping of the Massive Sulphide zone and the
resulting understanding of how the mineralization has been displaced. This understanding will greatly
enhance the targeting of the upcoming drill program.
The technical information and results reported here have been reviewed by Mr.
Chad Ulansky
P.Geo
., 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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http://www.newswire.ca/en/releases/archive/July2020/23/c4161.html
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For further information:
Cantex Mine Development Corp, Tel: +1-250-860-8582, Email:
CO: Cantex Mine Development Corp.
CNW 08:30e 23-JUL-20