Cantex receives up to 51.14% zinc and 39.63% lead from over-limit analyses for drill results from the North Rackla claims, Yukon
Cantex receives up to 51.14% zinc and 39.63%
lead from over-limit analyses for drill results
from the North Rackla claims, Yukon
KELOWNA, BC
,
Nov. 20, 2018
/CNW/ -
Cantex Mine Development Corp.
(CD: TSXV) (the
"Company") is pleased to announce the over-limit drill results from the Massive Sulphide zone on its
100% owned 14,077 hectare North Rackla claim block.
Over-Limit Results Received
The over-limit results have now been received for the 23 samples that exceeded with 30% zinc or
20% lead. The 14 over limit zinc samples representing 12.05 metres of drill core contained between
35.47% and 51.14% zinc. The 9 over limit lead samples representing 6.00 metres contained
between 20.94% lead and 39.63% lead.
Updated Extension Zone Results
Each of the five holes drilled this summer at the Extension Zone intersected fresh galena and
sphalerite mineralization which contained over-limit samples. The following table presents the
significant mineralized intercepts incorporating these over-limit results. These results improve upon
and supersede the provisional results released
October 29
, 2018.
Hole
From
(m)
To
(m)
Estimated
True Width
(m)
Silver
(ppm)
Copper
(%)
Lead
(%)
Zinc
(%)
Manganese
(%)
YKDD18-012
100.87
113.87
9.19
150.6
0.05
8.09*
18.04*
3.67
Including
102.87
107.87
3.54
277.8
0.04
14.01*
35.36*
3.07
134.74
141.74
4.95
22.0
0.01
1.23
8.27
0.44
YKDD18-013
77.18
79.28
1.20
14.7
0.00
0.98
3.06
0.82
121.45
133.82
7.10
158.0
0.09
6.04
23.12*
1.58
Including
123.35
129.00
3.24
207.5
0.06
7.43
40.24*
1.76
and
131.00
131.80
0.46
322.0
0.02
15.60
47.38*
0.28
155.10
157.12
1.16
19.5
0.00
1.02
3.14
0.37
YKDD18-014
177.40
179.40
0.85
46.5
0.22
0.18
0.49
2.00
183.40
205.40
9.30
122.6
0.01
7.33*
10.97*
4.70
Including
184.40
186.40
0.85
158.0
0.04
6.93
37.65*
2.26
and
190.40
192.40
0.85
475.5
0.03
24.49*
13.73
3.80
YKDD18-015
124.28
133.28
5.21
67.2
0.05
5.48*
10.48*
4.17
Including
127.28
128.28
0.58
233.0
0.03
9.96
35.52*
2.29
YKDD18-016
99.77
104.27
2.33
45.6
0.02
16.92*
1.74
4.52
106.27
114.90
4.46
142.1
0.09
11.44*
18.36*
2.95
Including
107.27
109.27
1.03
272.0
0.14
22.94*
31.29*
1.17
and
111.27
112.77
0.78
210.0
0.07
14.37
29.15*
2.20
*
These results include over-limit analyses.
Hole YKDD18-012 contained two mineralized intervals with one having an estimated true width of
9.19m
assaying 150.6 g/t silver, 8.09% lead and 18.04% zinc. Within this interval there was a 3.54
metre section that contained 277.8 g/t silver, 14.01% lead and 35.36% zinc.
Hole YKDD18-013 intersected three mineralized intervals. The most significant has an estimated
true width of
7.10m
containing 158 g/t silver, 6.04% lead and 23.23% zinc. Contained within this
interval was a 3.24 metre higher grade section with 207.5 g/t silver, 7.43% lead and 40.24% zinc.
Hole YKDD18-014 intersected two mineralized intervals including one with an estimated true width of
9.30 metres of 122.6 g/t silver, 7.33% lead and 10.97% zinc. Within this were two higher grade
0.85 metre zones which contained 158.0 g/t silver, 6.93% lead, 37.65% zinc and 475.5 g/t silver,
24.49% lead, 13.73% zinc respectively.
Hole YKDD18-015 contained a 5.21 metre interval of 67.2 g/t silver, 5.48% lead and 10.48% zinc.
Hole YKDD18-016 contained two mineralized intervals one metre apart. The most significant was
4.46 metres of 142.1 g/t silver, 11.44% lead and 18.36% zinc.
The five holes were drilled from the same location. Holes YKDD18-012, YKDD18-013 and
YKDD18-014 were all drilled at an azimuth of 137 degrees and at dips of -60, -70 and -80 degrees
respectively. Hole YKDD18-015 was drilled at an azimuth of 102 degrees and a dip of -60
degrees. YKDD18-016 was drilled at an azimuth of 180 degrees and a dip of -60 degrees. These
holes tested the main mineralization along a
56m
strike length and to a depth of
190m
below
surface.
Maps and sections containing these new results are presented on the Company's website
www.cantex.ca
.
Quality Controls
The drill holes reported in this press release were drilled using HQ (63.5mm) diamond drill bits. The
core was logged, marked up for sampling and then divided into equal halves using a diamond saw on
site. One half of the core was left in the original core box and these boxes were removed from site
and stored in a secure facility. The other half was sampled and placed into sealed bags which were
in turn placed into larger bags closed with security seals prior to being transported by commercial
carrier to CF Mineral Research Ltd in
Kelowna, BC
.
At CF Minerals the samples were dried prior to crushing to -10 mesh. The samples, which averaged
over 3kg, were then mixed prior to splitting off 800g. The 800g splits were pulverized to -200 mesh
and a 250g split was sent for assay. Quality control procedures included the insertion of coarse
quartz samples to assess the sample preparation. Silica blanks were inserted along with certified
reference samples. These quality control samples were each inserted approximately every 20
samples.
ALS Chemex in
Vancouver
assayed the samples using a four acid digestion with an ICP-MS finish.
The 48 element ME-MS61 technique was used to provide a geochemical signature of the
mineralization. Where lead or zinc values exceeded one percent the Pb-OG62 or Zn-OG62
techniques were used which have upper limits of 20% lead and 30% zinc respectively. Over limit
samples were analyzed by titration methods Zn-VOL50 and Pb-VOL70.
Deposit Style
Cantex has traced the mineralized zone for approximately three kilometres. The strata bound
mineralization is contained within Proterozoic age marine clastic rocks and contains elevated silver,
lead, zinc, manganese and low copper values. These are geological characteristics similar to other
globally significant massive sulphide mines. In comparison, the Sullivan Mine in
British Columbia
averaged 62 g/t silver, 5.65% lead and 5.9% zinc. At the Broken Hill Mine in
Australia
the ore
averages 180 g/t silver, 10.0% lead, 11.0% zinc and 0.1% copper. The Mount Isa Mine in
Australia
contains 150 g/t silver 6.9% lead, 6.4% zinc and 3.0% copper.
Conclusion and Proposed Plans
The average grade of the massive sulphide intersections of the aforementioned five holes testing the
Extension Zone is 107.6 g/t silver, 6.84% lead, 13.58% zinc and 0.05% copper over an average true
width per hole of 9.15 metres. These grades compare well with the grades of mines of a similar
deposit style. As a consequence a 16,000 metre core drilling program is proposed to test a 800
metre strike length of the Extension Zone down to depth of 400 metres. Additional drilling is also
planned to test a zone of anomalous soil and rock samples parallel to the Massive Sulphide zone as
well as at the recently discovered gold mineralization at the north end of the claim block (see
January 22, 2016
news release). The budget for this program is
$10 million
.
Planning and permitting for this work program are presently underway. Weather permitting, Cantex
hopes to commence work with two drills in late March.
Additional results with respect to the 2018 summer work program are forthcoming.
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.
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http://www.newswire.ca/en/releases/archive/November2018/20/c3893.html
%SEDAR: 00010333E
For further information:
Cantex Mine Development Corp, Tel: +250-860-8582, Email:
CO: Cantex Mine Development Corp.
CNW 09:00e 20-NOV-18