KELOWNA, BC, Aug. 26, 2014 /CNW/ - Cantex Mine Development Corp. (CD : TSXV) ("Cantex" or the "Company") is pleased to provide a progress report for its 100% owned Yukon gold project.
Cantex has recently completed 48 rotary air blast (RAB) drill holes in an area covered in alpine glacial tills highly anomalous in gold, arsenic and antimony. The anomalous gold in the tills is in all cases accompanied by arsenic and the other key pathfinder elements indicative of Carlin-style mineralization.
The Company is able to detect the presence of anomalous arsenic in the drill holes but gold and other pathfinder elements can only be quantified by sending the samples to an off site analytical laboratory for sample preparation and analysis. X-ray fluorescence (XRF) analyses conducted in the field have identified anomalous arsenic in cuttings from 23 drill holes. The anomalous arsenic has been encountered in carbonate bedrock and overburden samples.
This is most encouraging because the presence of arsenic as detected by XRF analyses in the field suggests that anomalous gold values will be present when analytical laboratory results are complete. Samples are now being prepared for shipment from the field to CF Mineral Research Ltd, where they will undergo sample preparation in advance of being sent to Activation Laboratories Ltd for analysis. Results are expected in late September.
The Company looks forward to the results of these samples and from the continued RAB drilling.
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.
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: [email protected]