Cantex discovers 600 metre gossan at North Rackla project, Yukon

KELOWNA, BC, Dec. 11, 2013 /CNW/ - Cantex Mine Development Corp. (CD : TSXV) ("Cantex" or the "Company") is pleased to report the discovery of base metal mineralization at its North Rackla project in the Yukon.

To date 127 rock samples collected during the summer field program have been analyzed.  Of these, twenty were collected by geologist Chad Ulansky from a newly discovered gossan zone which sub-outcrops for a distance of 600 metres with an apparent width of up to 20 metres.  The gossan zone is open at both ends.  Grab samples of sub-outcrop and down slope talus were assayed from along the 600 metre strike length and the results are as contained in the following table:

Sample Type Copper Lead Zinc Silver
    (%) (%) (%) (oz/t)
KAR0245 Talus 0.04 0.37 2.84 BDL
KAR0246 Talus 0.08 1.93 5.05 0.18
KAR0247 Talus 0.05 43.60 0.74 3.48
KAR0248 Subcrop 0.06 1.54 2.88 BDL
KAR0249 Subcrop 0.17 0.55 2.10 0.89
KAR0250 Subcrop 0.00 5.10 2.07 0.52
KAR0251 Subcrop 0.21 11.60 2.63 1.63
KAR0252 Subcrop 0.08 0.31 0.68 0.90
KAR0253 Subcrop 2.52 2.11 1.58 14.36
KAR0254 Subcrop 0.05 0.02 0.43 0.16
KAR0255 Subcrop 0.07 0.05 0.79 BDL
KAR0256 Subcrop 0.10 0.02 0.17 BDL
KAR0257 Subcrop 0.42 0.23 0.65 1.32
KAR0258 Subcrop 0.18 0.06 0.54 0.47
KAR0259 Subcrop 0.89 1.09 0.84 1.65
KAR0263 Subcrop 0.14 1.88 5.92 0.96
KAR0264 Subcrop 0.13 1.15 6.65 1.53
KAR0265 Subcrop 1.19 4.64 7.11 35.60
KAR0266 Subcrop 0.28 0.16 2.26 1.67
KAR0267 Talus 0.00 20.20 6.75 1.59

 *"BDL" is Below Detection Limits

In addition, gossanous float sample KAR0268 in the vicinity of the gossan zone described above (collected approximately 500 meters to the north east) was determined to contain 0.13% copper, 1.01% lead, 11.4% zinc and 0.56 ounces per ton silver.  It appears that this float is from a separate zone.

Cantex looks forward to following up these results when field conditions permit.

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 Yukon project Cantex has projects in Yemen and Nevada.  In Yemen the advanced Al Hariqah gold project has been optioned to WCP Resources Ltd of Australia while 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: +250-860-8582, Email: info@cantex.ca


FORFAITS PERSONNALISÉS

Jetez un coup d’œil sur nos forfaits personnalisés ou créez le vôtre selon vos besoins de communication particuliers.

Commencez dès aujourd'hui .

ADHÉSION À CNW

Remplissez un formulaire d'adhésion à CNW ou communiquez avec nous au 1-877-269-7890.

RENSEIGNEZ-VOUS SUR LES SERVICES DE CNW

Demandez plus d'informations sur les produits et services de CNW ou communiquez avec nous au 1‑877-269-7890.