"Company") is pleased to announce the commencement of the upcoming work program on its 100%
Cantex Commencing Exploration Program At
The North Rackla Claims, Yukon
/THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR
DISSEMINATION IN
THE UNITED STATES
./
KELOWNA, BC
,
April 15, 2019
/CNW/ -
Cantex Mine Development Corp.
(CD: TSXV) (the
"Company") is pleased to announce the commencement of the upcoming work program on its 100%
owned 14,077 hectare North Rackla claim block.
Mobilization
With the successful completion of the
$15 million
financing Cantex will now be commencing its 2019
exploration program. The Company will begin mobilizing equipment and supplies on
Monday, April
15
th
in support of the geophysical program.
Geophysics
Ground gravity, electromagnetic, resistivity and magnetic surveys are planned over 1 km
2
covering
2.3 kilometres of the strike length of the massive sulphide zone. These surveys will be focused on
determining the exact location of the massive sulphide mineralization beneath a region covered in
glacial till between the Discovery and Extension zones. The results will be used to fine tune the
proposed drill program as well as test areas at the extremities of the mineralized zone.
Drilling
Three diamond drills will be utilized on the project this year. These drill rigs will be tasked with
completing a 75 hole, 17,000 metre drill program on the massive sulphide zone and a three hole
1,000 metre program at the northern gold area. Drilling will commence once field conditions allow,
which is anticipated to be in late May.
Summary
The Directors are exceedingly optimistic about the summer program and look forward to better
defining the subsurface extent of the 2.4 kilometre long massive sulphide zone which has been
identified by soil-talus sampling, prospecting, trenching and drilling.
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.
THIS NEWS RELEASE IS NOT FOR
DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN
THE UNITED STATES
.
SOURCE
Cantex Mine Development Corp.
View original content:
http://www.newswire.ca/en/releases/archive/April2019/15/c8224.html
%SEDAR: 00010333E
For further information:
Cantex Mine Development Corp, Tel: +250-860-8582; Email:
CO: Cantex Mine Development Corp.
CNW 09:00e 15-APR-19