KELOWNA, BC, Jan. 23, 2014 /CNW/ - Cantex Mine Development Corp. (CD : TSXV) ("Cantex" or the "Company") is pleased to announce the
results from a further four drill holes targeting extensions to the
known gold mineralisation 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 lead by
WCP Resources Ltd ("WCP") who have 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 mineralisation to the south of the previously drilled
northern 1km section (of the total 4km of target strike).
- Four diamond drill holes drilled in this southern extension returned
encouraging intercepts including:
- Hole RDH095A: 15.0m @ 3.67g/t Au from 65.0m
9.0m @ 2.46g/t Au from 87.0m
20.0m @ 1.48g/t Au from 112.0m
6.0m @ 4.22g/t Au from 143.0m
- Hole RDH085: 7.3m @ 2.99g/t Au from 75.0m
- Hole RDH079: 1.5m @ 2.47g/t Au from 72.1m
- Hole RDH095A, which is located 80m south of the last drilled section,
returned multiple intervals of significant mineralisation, equivalent
in tenor to previous drill well mineralised holes further to the north.
- Cantex and WCP continue to be encouraged by these results, especially
seeing multiple intervals of significant mineralisation 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 3km of
underexplored strike directly to the south of the northern 1km section.
Previous Drilling Results
Prior to WCP's involvement 158 holes totalling 19,093m had been drilled
at the Project, comprising 4,145m of reverse circulation (RC) drilling, 10,192m of percussion rotary air blast (RAB) drilling and 4,756m of diamond drilling. Subsequent to WCP's
optioning the Project 32 diamond drill holes have been completed
totalling 4,518m have been drilled.
The drilling completed at the Project to-date has defined a broad zone
of gold mineralisation which is approximately 4km in length, up to 500m
wide, and extends to at least 150 metres depth with several deep holes
ending in mineralisation.
Historically, drilling has concentrated on the northern 1km of strike
where numerous mineralised intercepts have been returned. The southern
3km of strike has only been subjected to sporadic drilling on the
eastern side which did return gold mineralisation 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 ongoing 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 December 11, 2013, 807 soil-talus and 59
rock analytical results have been received from Activation
Laboratories.
North Rackla Soil-Talus Results
A 175m 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 375m 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 analysed
are presented in the following 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
|
0.00
|
0.02
|
1.38
|
KAR00236
|
N. Rackla
|
154
|
0.88
|
0.01
|
0.10
|
3.18
|
KAR00238
|
N. Rackla
|
2
|
5
|
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
|
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
About the Company
Beyond the Al Hariqah gold project Cantex has projects in the Yukon and
Nevada. In the Yukon recent work has identified the potential for the
claims area to host Carlin-style mineralization. In Nevada the Company
has five drill ready properties along known trends of gold mines and is
currently seeking joint venture partners to advance the projects.
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.
SOURCE Cantex Mine Development Corp.
<p> Cantex Mine Development Corp, Tel: +250-860-8582, Email: <a href="mailto:info@cantex.ca">info@cantex.ca</a> </p>