KELOWNA, BC, June 14, 2018 /CNW/ - Cantex Mine Development Corp. (TSXV: CD) (the "Company") is pleased to announce its planned summer drill program on two areas within its 100% owned North Rackla claim group in the Yukon. The drill program is anticipated to commence in mid July, and the drill rig is already on site.
Northern Gold Area
Cantex has discovered a mineralized area in the northern portion of the approximately 15km by 15km North Rackla claim block. Mineralization outcrops within a 120m by 150m area where a stromatolitic dolomitic unit is exposed beneath a sandy bedded dolomitic unit. Prospecting, rock sampling and trenching have returned results as high as 15.75 g/t gold, 377 g/t silver, 11.0% lead and 32.5% zinc.
An initial five inclined holes are planned to test this mineralized zone.
Massive Silver, Lead, Zinc and Copper Area
A massive sulphide zone stretching over two kilometers long has been discovered by Cantex. The massive sulphide mineralization hosts elevated silver, lead, zinc and copper values as shown in the rock sampling, trenching and drilling undertaken to date. Trenching of the northeastern end of the zone returned 15.7m of 36 g/t silver, 7.04% lead and 1.85% zinc and a second parallel mineralized horizon approximately ten metres away containing 5.6m of 54 g/t silver, 1.95% zinc and 0.48% copper. These trenches tested oxidized mineralization.
At the southwestern end of the mineralization eight drill holes were completed in late 2016. This drilling encountered oxidized mineralization that increased in grade and width with depth (see cross sections on www.cantex.ca). The deepest intervals occur in hole YKDD-0006 which include 4.05m (from 22.95m) of 21.1 g/t silver, 2.12% lead and 1.79% zinc; 5.7m (from 33.0m) of 137 g/t silver, 2.8% lead and 0.83% zinc; and 4.4m (from 43.7m) of 49 g/t silver, 5.35% lead and 5.99% zinc.
Cantex intends to drill both the northeastern and southwestern portions of the massive sulphide zone. Drilling from three drill pads is proposed to test the mineralization beneath the substantial widths encountered in trenching at the northeastern end. At the southwestern end Cantex will test the mineralization at greater depth, to determine whether the mineralization grade and thickness continue to increase.
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.
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SOURCE Cantex Mine Development Corp.
For further information: Cantex Mine Development Corp, Tel: +250-860-8582; Email: firstname.lastname@example.org
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....