KELOWNA, BC, Sept. 5, 2013 /CNW/ - Cantex Mine Development Corp. (CD : TSXV) ("Cantex" or the "Company") is pleased to provide an update on its exploration program in the Yukon.
Yukon Gold Program
Cantex has now completed its summer exploration program on its Yukon claim blocks.
North Rackla Claim Block
Heavy mineral sampling of the 12,810 hectare North Rackla claim block completed in 2011 and 2012 identified substantial portions of the block to be highly anomalous in key pathfinder elements for Carlin-style mineralization. To identify drill targets within the strongly anomalous watersheds a detailed ground geochemical survey was undertaken. A total of 11,007 composite soil talus samples were collected.
Upon receipt of the samples at CF Mineral Research Ltd in Kelowna, BC the samples are dried and then crushed. A representative split of approximately 800 grams is then pulverized and from this pulverized material a vial is sent for assay with Activation Laboratories. To date a total of 2,305 samples have been prepared at CF Minerals and sent to Activation Laboratories for assay.
Contemporaneously with the above work a prospecting program was undertaken. This work discovered numerous mineralized occurrences from which grab samples were collected for assay. Approximately 200 rock samples were collected from the North Rackla block and most of these have already been prepared at CF Minerals and sent to Activation Laboratories for assay.
Results of a detailed heavy mineral sampling program around the North Rackla block last summer indicated that there was potential Carlin-style mineralization adjacent to and south of the claim block. Cantex has staked an additional 1,275 hectares of claims covering this anomalous area. This increases the size of the North Rackla block to over 14,000 hectares.
Bonnet Plume, Mt Williams, North Stewart, Rogue River and Hess River Claim Blocks
Each of these claim blocks were visited as a part of this summer's program. At each claim block a limited prospecting program was undertaken along with detailed follow-up heavy mineral sampling where needed. Rock samples collected as a part of this work have been prepared by CF Minerals and submitted to Activation Laboratories for analysis.
Mt Good Claim Block
The Mount Good claim block covers 7,000 hectares. Watersheds anomalous in the key pathfinder elements for Carlin-style mineralization were the focus of a detailed geochemical survey similar to that completed at North Rackla. Over 6,000 samples were collected. These samples are presently on their way south to Kelowna for processing.
Cantex is encouraged by the field identified mineralization within the previously identified watersheds that are highly anomalous in the key pathfinder elements for Carlin-style mineralization. The current soil-talus analysis program is designed to outline the most potential areas for drill testing.
Activation Laboratories report that they can complete 500 neutron activation analyses per week. Management looks forward to the results of the samples collected as a part of this successful program and will release the results as available on an ongoing basis.
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]