Further positive drilling and rock chip results continue to expand Al Hariqah gold project

KELOWNA, BC, March 11, 2014 /CNW/ - Cantex Mine Development Corp. (CD : TSXV) ("Cantex" or the "Company") is pleased to announce the results from a further seven drill holes which demonstrate the potential for extension of gold mineralization to the south of the previously drilled northern 1km section.  Rock chip sampling 400m north of the previous drilling has also extended the known gold mineralization.  The work on the project is being lead by WCP Resources Ltd ("WCP") who is farming into the project from Cantex.

Diamond drilling:
Results from recent core drilling have again demonstrated potential for extension of gold mineralisation to the south of the previously drilled northern 1km section.  Seven holes totalling 1,026 metres are presented in this release and mineralised intercepts of these holes are presented in the following table:

  • Table 1: Summary of Diamond Drill Hole Intersections
Hole ID East North Depth
(metres)
Dip
(0)
Azimuth From
(metres)
To
(metres)
Length
(metres)
Grade
(g/t)
RDH096 333050 1776284 160.3 -55 239 52.24
67.24
101.75
136.75
153.75
60.24
72.24
116.75
137.75
158.75
5.0
5.0
15.0
1.0
5.0
1.46
1.88
0.65
58.3
1.21
RDH097 333047 1776257 120.23 -55 240 54.0
90.0
70.0
93.0
16.0
3.0
1.62
1.04
RDH098 3332973 1776244 155.07 -55 240 50.87
70.87
56.87
75.87
6.0
5.0
0.92
1.32
RDH099 333037 1776200 132.52 -55 255 59.0
110.0
67.0
114.0
8.0
4.0
1.70
0.86
RDH100 332677 1776296 147.62 -90 0 64.62
122.62
66.62
130.62
2.0
8.0
0.91
1.04
RDH078A 332950 1776358 150.49 -55 232 53.0
95.0
134.0
67.0
118.0
140.0
14.0
23.0
6.0
3.15
1.19
7.38
RDH080 332887 1776130 160.29 -55 255 135.0 140.0 5.0 1.2

Notes:

  • Co-ordinates are in UTM grid (WGS 84 Zone 38N) and have been measured by GPS (+/- 5m accuracy).
  • Samples at nominal 1.5m and 1m intervals and are down-hole length.
  • All intercepts calculated using a 0.5 g/t lower cut, no upper cut and up to 5m of sub grade material allowed.
  • Assaying conducted by ALS in Vancouver  using industry standard 50g lead collection fire assay with AAS finish.

Hole RDH078A returned multiple intervals of significant mineralisation, which is similar to the previous drill hole RDH095A (announced in January 2014) located 130m to the north of RDH078A.

Rock Chip Sampling
Recent mapping and selective rock chip sampling 400m to the north of Al Hariqah has returned some high grade assays, including 42.1g/t. Au, 34.1g/t. Au, and 28.7g/t. Au.  Sample mass averaged approximately 2.5kg and the majority of the high grade results were from samples containing quartz veins hosted in meta-sediments.  Significant results are presented in the following table.

Table 2: Summary of Selective Rock Chip Assays

Sample ID East North Comments Weight 
(kg)
Grade
(g/t)
YRX8050 332100 1777558 Quartz Vein 3.00 9.23
YRX8051 332095 1777556 Quartz Vein with visible gold in mafic schist 3.00 22.10
YRX8052 332091 1777554 Quartz Vein with visible gold 2.90 42.10
YRX8053 332078 1777625 Quartz Vein 1.90 20.10
YRX8054 332078 1777625 Mafic mineralized zone  2.30 16.20
YRX8066 332365 1777238 Quartz Vein 1.20 6.01
YRX8067 332723 1776244 Quartz Vein 3.30 8.90
YRX8068 332620 1776320 From mineralized zone about 8m wide with albite alteration 3.30 1.69
YRX8069 327049 1775740 Quartz Vein 2.50 2.39
YRX8071 332054 1777633 Meta-sedimentary rock with arsenopyrite 1.20 28.70
YRX8072 332046 1777636 Meta-sedimentary rock 1.20 1.79
YRX8073 332081 1777633 Altered meta-sedimentary rock 2.00 34.10

The Company is encouraged by these results and will continue exploration in this area with a view to conducting trenching or drilling activities when appropriate.

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

The 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 the Company will look to prepare an initial Mineral Resource estimate in accordance with the JORC Code during 2014.

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.

For further information:

Cantex Mine Development Corp, Tel: +1-250-860-8582, Email: info@cantex.ca