KELOWNA, BC, June 17 /CNW/ - Cantex Mine Development Corp. (CD : TSXV) ("Cantex" or the "Company") is pleased to provide an update on the progress on its Nevada and Yemen projects.
Nevada Gold Projects
The Company is pleased to report that the required permits for its approximately 50 hole drill program have now been granted. The program will test thirteen targets on seven properties. Details on the individual properties are contained in the Company's news release of March 26, 2010.
The first phase of drilling will commence on the Leonard Creek property where 12 holes are planned to test nine targets. The Leonard Creek property consists of 127 claims covering 1,062 hectares and is located 80km north of the Crofoot-Lewis Mine. Significantly, the alluviums covering the claims area have historically been extensively placer mined for gold. Leonard Creek is one of the few major placer areas in Nevada where a hard rock gold mine has yet to be found as the source of the placer gold.
To identify the potential source of the placer gold a CSAMT geophysical survey was conducted. Several targets were identified including buried structurally controlled resistivity highs and vertical structurally controlled conductive zones potentially reflecting areas suitable for gold mineralization. Mapping of the project area has also identified two areas of outcropping sulphur mineralization, two areas of siliceous sinter and one area of alteration. These areas will be drill tested. It is possible that one or more of these anomalies may be the source to the abundant placer gold.
Suwar Nickel-Copper-Cobalt Project
The Company is also pleased to report that the 1,624 line kilometer helicopter-borne geophysical survey has now commenced over the Suwar and Wadi Qutabah project areas. The survey has been designed and funded by Vale S.A. who has an option over Cantex's Suwar and Wadi Qutabah projects. Aeroquest's AeroTEM IV system is being used to collect electromagnetic, magnetic and radiometric data. The survey is designed to test for nickel - copper - cobalt bearing massive sulphide mineralization similar to what has been previously discovered at Suwar Hill.
A drilling program will be planned to test anomalies produced by the survey.
Al Hariqah Gold Project
Drilling continues at the Al Hariqah project where a 162 hole drill program is underway. Of the 162 holes 113 are now complete. Percussion drilling has been completed to a depth of approximately 100 meters on a further 36 holes but core drilling is still required to deepen these holes. An additional 13 holes remain to be started. Recently the motor and hydraulic components of Cantex's man-portable drill were upgraded - nearly doubling its power. This increased power has improved drilling productivity.
The results of this drill program will be used to complete a prefeasibility study on the Al Hariqah gold project.
Approximately 991 meters of core from 15 holes at Al Hariqah has been logged by geologist John Churchill. This core has been divided into 666 samples. Initially the core is crushed at the CF Minerals Research laboratory and a +/- one kilogram split of each sample is taken. CF Minerals has completed approximately half of the samples and these are now being sent to ALS Chemex for further preparation and fire assay analysis for gold.
A sea container of samples is now being readied for shipment containing percussion and core samples from Al Hariqah. Upon arrival in Canada, the samples will be sent for analysis.
Cantex has received an extension from the Geological Survey and Mineral Resource Board of Yemen for the completion of a prefeasibility study on Al Hariqah. The GSMRB has now given Cantex until March 2012 to complete a feasibility study.
This press release has been prepared by Chad Ulansky, P.Geo., a Qualified Person.
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: For further information: Cantex Mine Development Corp., 203-1634 Harvey Ave, Kelowna, B.C., Canada, V1Y 6G2, Tel 250.860.8582, Fax 250.860.1362