KELOWNA, BC, May 22, 2013 /CNW/ - Cantex Mine Development Corp. (CD : TSXV) ("Cantex" or the "Company"): As a result of a review by the
British Columbia Securities Commission, the Company is issuing the
following news release to clarify its disclosure.
Technical Disclosure Issues
In the Company's management discussion and analysis ("MD&A") from
January 31, 2004 to present the Company has disclosed the potential for
a gold resource of 16 million tonnes at a grade of 1.65 g/t at the Al
Hariqah property. Cantex wishes to restate this estimate and to
clarify that this is a target for further exploration.
Cantex wishes to restate the estimate for the Al Hariqah deposit as
being between 13 and 52 million tons at a grade ranging between 1.0 and
1.8 g/t Au. Note that both the tonnage and grade of this exploration
target are conceptual in nature and there has been insufficient
exploration to define a mineral resource and it is uncertain if further
exploration will result in the target being delineated as a mineral
This target is for the northern 1,000 metres of the 3,700 metre long Al
Hariqah deposit where the majority of the drilling to date has been
undertaken. For the purposes of the exploration target the mineralized
width ranges from 100 to 400 meters and the mineralized thickness for
the target ranges from 50 to 100 metres. The specific gravity of the
host rock (Proterozoic quartz mica schist) is assumed to average 2.6
These assumptions are supported by the results of extensive exploration
work conducted on the project which are disclosed in certain of the
Company's news releases and MD&A, all as filed on SEDAR.
Cantex also advises that the statement set out in the March 2, 2011
Stentor Media video that the Company is doing a pre-feasibility study
is incorrect and the information contained in the video should not be
relied upon. The Company has removed the link for the video from its
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
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: firstname.lastname@example.org