Cantex Mine Development Corp. - New gold results for drilling at the Al Hariqah gold deposit, Yemen



    KELOWNA, BC, Jan. 30 /CNW/ - Cantex Mine Development Corp (CD - TSX
Venture Exchange) ("Cantex" or the "Company").

    The Company is pleased to report gold results for 26 drill holes at the
Al Hariqah gold deposit, Yemen. These results are for the 16th to 41st holes
of a 43 hole program which is now complete. The program is designed to provide
infill data within the previously drilled northernmost 1,100 meters of the
deposit as well as to provide a broad three dimensional view of the gold
mineralization over an additional 1,240 meters. As previously reported, the Al
Hariqah gold deposit is more than 4,000 meters long.
    The program was carried out using the Company's combined reverse
circulation percussion drill which drills holes up to 90mm diameter. Sampling
and logging of the drill cuttings were carried out by Cantex's geologists on
site in Yemen. Sample preparation was conducted at CF Mineral Research Ltd. in
Kelowna where the samples were split, crushed, and pulverized prior to
shipment to ALS Chemex, an ISO 9001:2000 accredited laboratory in Vancouver.
    At ALS Chemex the gold content is determined using a fire assay with an
AAS finish (Au-AA24). Any samples with gold contents in excess of 10 g/t are
then re-assayed using a fire assay with a gravimetric finish (Au-GRA22).
Significant results for these holes are summarized in the following table:

    
    -------------------------------------------------------------------------
        Drill hole      Grade       Intersection       From         To
    -------------------------------------------------------------------------
                          g/t           meters         meters      meters
    -------------------------------------------------------------------------
        YPH 04           2.09           21.0            4.5        25.5
    -------------------------------------------------------------------------
                         0.86           18.0           43.5        61.5(*)
    -------------------------------------------------------------------------
        YPH 07           2.45            1.5           18.0        19.5
    -------------------------------------------------------------------------
                         0.99           10.5           42.0        52.5
    -------------------------------------------------------------------------
                         2.13            1.5           63.0        64.5
    -------------------------------------------------------------------------
        YPH 09           1.53           36.0            6.0        42.0(*)
    -------------------------------------------------------------------------
        YPH 14           1.17           19.5            6.0        25.5
    -------------------------------------------------------------------------
                         1.25           42.0           45.0        87.0
    -------------------------------------------------------------------------
        YPH 16           0.95            1.5           28.5        30.0
    -------------------------------------------------------------------------
                         0.93            1.5           37.5        39.0
    -------------------------------------------------------------------------
                         0.98            3.0           43.5        46.5
    -------------------------------------------------------------------------
        YPH 17           1.46            1.5           78.0        79.5
    -------------------------------------------------------------------------
        YPH 18           1.23            1.5           54.0        55.5
    -------------------------------------------------------------------------
        YPH 20           0.85             27              3          30
    -------------------------------------------------------------------------
                         1.74            1.5           37.5          39
    -------------------------------------------------------------------------
                         1.04              3             81          84
    -------------------------------------------------------------------------
                         1.19              6            102         108
    -------------------------------------------------------------------------
        YPH 21           1.84            7.5              0         7.5
    -------------------------------------------------------------------------
                         1.94           10.5           22.5          33
    -------------------------------------------------------------------------
                         1.23            4.5           91.5          96
    -------------------------------------------------------------------------
        YPH 22              2             15              0          15
    -------------------------------------------------------------------------
                         1.04              3           25.5        28.5
    -------------------------------------------------------------------------
        YPH 23           1.01            1.5              0         1.5
    -------------------------------------------------------------------------
                         0.94            4.5             21        25.5
    -------------------------------------------------------------------------
                         2.11             30           43.5        73.5
    -------------------------------------------------------------------------
        YPH 29           1.17           13.5             36        49.5
    -------------------------------------------------------------------------
        YPH 30            2.1              6           67.5        73.5(*)
    -------------------------------------------------------------------------
        YPH 31           1.56             51            1.5        52.5
    -------------------------------------------------------------------------
                         1.31              9             84          93
    -------------------------------------------------------------------------
        YPH 33           2.08             45              0          45
    -------------------------------------------------------------------------
        YPH 34           1.07            1.5              6         7.5
    -------------------------------------------------------------------------
                         1.14            1.5           34.5          36
    -------------------------------------------------------------------------
        YPH 38           1.04            1.5             66        67.5(*)
    -------------------------------------------------------------------------
        YPH 39           1.84            1.5           34.5          36
    -------------------------------------------------------------------------
                         0.96            4.5           49.5          54
    -------------------------------------------------------------------------
        YPH 41           1.03              9           28.5        37.5
    -------------------------------------------------------------------------

    (*)The hole ended in mineralization
    -------------------------------------------------------------------------
    

    Additional drill samples from two final holes (holes 42 and 43) have been
submitted to ALS Chemex for analysis and results are expected in three weeks
time.
    The Company is most encouraged by the above results as they are
consistent with previously reported gold values at Al Hariqah and demonstrate
continuity of values within the deposit. The determined grades of gold are
typical of those mined in open pit mines whilst the strike length of the
deposit is comparable with large bulk tonnage operations.
    The current 43 hole drill program has increased the inferred size of the
resource at the Al Hariqah gold deposit over that reported for the initial 29
hole drill program in 1999. The favorable new results, current gold price and
the potential scale of operations are favorable factors for commercial
operations.

    This press release has been prepared by Dr. Charles Fipke, a Qualified
Person.

    Signed,

    Chad Ulansky

    Chad Ulansky
    President and Geologist

    The TSX Venture Exchange does not accept responsibility for the adequacy
    or accuracy of this release.

    %SEDAR: 00010333E




For further information:

For further information: Cantex Mine Development Corp., 2600 B
Enterprise Way, Kelowna, BC, V1X 7Y5, Tel (250) 860-8582, Fax (250) 860-1362,
Email cantex@shaw.ca

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