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Cantex Mine Development Corp (2)
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Cantex Mine drills 15 m of 3.67 g/t Au at Hariqah

2014-01-23 09:07 ET - News Release

Mr. Charles Fipke reports

UPDATE FOR YEMEN AND YUKON PROJECTS

Cantex Mine Development Corp. has provided the results from a further four drill holes targeting extensions to the known gold mineralization and infill drilling at the Al Hariqah gold project, a prospective and potentially large-scale gold project located in the Republic of Yemen. The work on the project is now being led by WCP Resources Ltd. which has an option to farm into the project from Cantex. In addition Cantex is pleased to provide an update on the latest results received from its Yukon project.

Al Hariqah gold project highlights

Results from recent core drilling have again demonstrated potential for extension of gold mineralization to the south of the previously drilled northern one-kilometre section (of the total four km of target strike).

Four diamond drill holes drilled in this southern extension returned encouraging intercepts including the following.

Hole RDH095A

  • 15.0 metres at 3.67 grams per tonne Au from 65.0 m;
  • 9.0 m at 2.46 g/t Au from 87.0 m;
  • 20.0 m at 1.48 g/t Au from 112.0 m;
  • 6.0 m at 4.22 g/t Au from 143.0 m.

Hole RDH085

  • 7.3 m at 2.99 g/t Au from 75.0 m.

Hole RDH079

  • 1.5 m at 2.47 g/t Au from 72.1 m.

Hole RDH095A, which is located 80 m south of the last drilled section, returned multiple intervals of significant mineralization, equivalent in tenor to previous drill well mineralized holes farther to the north.

Cantex and WCP continue to be encouraged by these results, especially seeing multiple intervals of significant mineralization from the one drill hole. Further assay results from the southern extension will continue to be released over the coming months.

Further drilling is also being planned to test the remaining three kilometres of underexplored strike directly to the south of the northern one km section.

Previous drilling results

Prior to WCP's involvement 158 holes totalling 19,093 m had been drilled at the project, comprising 4,145 m of reverse circulation (RC) drilling, 10,192 m of percussion rotary air blast (RAB) drilling and 4,756 m of diamond drilling. Subsequent to WCP's optioning the project 32 diamond drill holes have been completed totalling 4,518 m have been drilled.

The drilling completed at the project to date has defined a broad zone of gold mineralization which is approximately four km in length, up to 500 m wide, and extends to at least 150 metres depth with several deep holes ending in mineralization.

Historically, drilling has concentrated on the northern one km of strike where numerous mineralized intercepts have been returned. The southern three km of strike has only been subjected to sporadic drilling on the eastern side which did return gold mineralization that warrants follow-up drilling. The deposit is open along strike to the south, across strike and at depth.

Initial mineral resource estimate

There has been no resource estimate prepared for the project to date, however Cantex and WCP believe the project has the potential to host a large-scale gold project.

Results from the continuing drilling program, together with the extensive previous drilling, will provide a solid base for an updated geological model for the project and WCP has indicated it will look to prepare an initial mineral resource estimate in accordance with the JORC code during 2014.

Yukon project update

Since the last press release of Dec. 11, 2013, 807 soil-talus and 59 rock analytical results have been received from Activation Laboratories.

North Rackla soil-talus results

A 175 m soil-talus line was found to be weakly to moderately anomalous in gold accompanied in all but one sample also weakly to moderately anomalous in zinc. Another 375 m long line is moderately to strongly anomalous in gold and in some cases weakly anomalous in zinc.

Several other lines of varying lengths were found to be moderately to highly anomalous in gold unaccompanied by any anomalous pathfinder elements. Although some of these anomalies appear to be valid, all have been resubmitted for check analyses.

Rock grab sample results

Rock grab samples were collected by geologists and field technicians whenever limonitic, gossanous or mineralized boulders, talus or outcrop were encountered. Highlights of the 59 grab samples recently analyzed are presented in the attached table.


Sample  Claim block  Au   Ag      Pb      Zn     Cu 
                    INAA INAA    UT7     UT7    UT7 
                    ppb  oz/t     %       %      %  

KAR00008 N. Rackla    2  0.66   13.80    2.23   0.03
KAR00011 N. Rackla  n/a  n/a     1.64   19.20   0.30
KAR00024 N. Rackla  n/a  n/a     2.11   16.80   0.00
KAR00072 N. Rackla  n/a  n/a    16.00   25.30   0.02
KAR00088 N. Rackla   61  0.61    0.02    0.02   1.74
KAR00107 N. Rackla   35  5.31    1.23    1.32   0.77
KAR00157 Mt. Good     6  0.18    0.00    0.01   1.23
KAR00234 N. Rackla    2  5.00    0.00    0.02   1.38
KAR00236 N. Rackla  154  0.88    0.01    0.10   3.18
KAR00238 N. Rackla    2  5.00    0.09    2.90   0.03
KAR00268 N. Rackla    2  0.32    1.01   11.00   0.13
KAR00391 N. Rackla    2  1.17    0.11    0.08   2.89

* n/a: Not analyzed

The technical information and results reported here have been reviewed by Chad Ulansky, PGeol, a qualified person under National Instrument 43-101, who is responsible for the technical content of this release.

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