KELOWNA, BC, Sept. 11, 2012 /CNW/ - Cantex Mine Development Corp. (CD : TSXV) ("Cantex" or the "Company") is pleased to report the successful completion of its summer field program in the Yukon.
Claim Staking Program
Eight claim blocks totaling 1,380 claims covering over 28,000 hectares have been staked. These claim blocks were staked based on the results of last year's regional heavy mineral sampling program.
Samples of sediments from the watersheds within the eight claim blocks were strongly anomalous in gold and key pathfinder elements characteristically found downstream of Carlin style mineralization in both Nevada and the Yukon.
Sampling Program
Soil sampling of an anomalous area within one of the claim blocks has commenced and an initial 49 soil samples have been collected.
In addition a total of 1,392 heavy mineral samples were collected both within the company's claims and in un-staked areas. These samples are currently en route to the laboratory for processing.
Prospecting Program
In addition a brief prospecting program on one claim block located an in situ gossan containing malachite and azurite which reflect high copper content. The gossan cross cuts the stratigraphy and measures approximately 1 meter wide.
Within the same claim block a large (100cm x 40cm x 30cm) sub-rounded boulder, field identified to be rich in realgar was discovered. The bedrock source of the boulder remains to be located; however, since the entire watershed upstream is contained within the claim block, it is thought that the source lies within the Company's claims.
Summary
Samples highly anomalous in gold and key pathfinder elements for Carlin-style mineralization have been discovered by the Company's 30,000 km2 regional exploration program. Cantex has now staked eight claim blocks totaling 1,380 claims covering these anomalous samples.
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 Cantex has five drill ready properties in Nevada along known trends of gold mines and is currently seeking joint venture partners to advance the projects. In Yemen WCP Resources has optioned the Company's Al Hariqah gold project where delineation drilling continues.
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.
Cantex Mine Development Corp, Tel: +250-860-8582, Email: [email protected]
Share this article