KELOWNA, BC, May 7, 2013 /CNW/ - Cantex Mine Development Corp. (CD : TSX-V) (the "Company") is pleased to report the progress on its
gold project located in the central Yukon.
Analytical results from 1,386 heavy mineral samples collected during
2012, to define the source of anomalies identified in 2011, have been
received. Several areas have been defined that are anomalous in all of
the key Carlin-style gold pathfinder elements. Arrangements are now in
process to acquire these areas.
Case studies completed on more than 15 Carlin-style heap leach gold
deposits in Nevada and the Yukon show this same proprietary combination
of key pathfinder elements are in all cases anomalously present in the
heavy mineral concentrates of samples collected down-stream.
In addition to these new areas discovered in 2013, seven areas similarly
anomalous in the full suite of key pathfinder elements were staked in
2012. About 35,000 soil-talus samples need to be collected and analyzed
to establish core drill targets in these areas. The soil-talus samples
will also be collected, prepared and analyzed in the same proprietary
way as found to be effective in detecting heap leach mines and gold
deposits of economic potential in Nevada and the Yukon.
The Company has approached two, first-class potential joint venture
partners about the possibility of earning interests in the projects by
funding exploration. Both partners are interested but, as of yet, no
definite arrangement has been made.
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
Forward Looking Statements
Some of the statements contained herein may be forward-looking
statements which involve known and unknown risks and uncertainties.
Without limitation, statements regarding potential mineralization and
resources, exploration results, and future plans and objectives of the
Company are forward looking statements that involve various risks. The
following are important factors that could cause the Company's actual
results to differ materially from those expressed or implied by such
forward looking statements: changes in the world wide price of mineral
commodities, general market conditions, risks inherent in mineral
exploration, risks associated with development, construction and mining
operations, the uncertainty of future profitability and the uncertainty
of access to additional capital. There can be no assurance that
forward-looking statements will prove to be accurate as actual results
and future events may differ materially from those anticipated in such
statements. Metalex undertakes no obligation to update such
forward-looking statements if circumstances or management's estimates
or opinions should change. The reader is cautioned not to place undue
reliance on such forward-looking statements.
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: email@example.com