Vale commits to spend additional $1 million at Suwar
KELOWNA, BC,
Vale International S.A ("Vale"), a wholly owned subsidiary of Vale S.A., formerly Companhia Vale do Rio Doce has optioned Cantex's nickel - copper - cobalt +/- platinum group element properties in
In the release dated
The results to date have shown that the Suwar project has the potential to host a significant nickel - copper - cobalt +/- platinum group element mine. Drilling conducted at the project has returned promising intercepts such as those contained in the following table.
------------------------------------------------------------------------- Hole Significant Mineralization ------------------------------------------------------------------------- From (m) To (m) Length (m) Ni (%) Cu (%) Co (%) ------------------------------------------------------------------------- Y99-02 47.95 70.00 22.05 1.41 0.91 0.07 ------------------------------------------------------------------------- ------------------------------------------------------------------------- Y00-05 7.62 50.83 43.21 0.86 0.46 0.05 ------------------------------------------------------------------------- 179.01 197.50 18.49 0.67 0.27 0.03 ------------------------------------------------------------------------- ------------------------------------------------------------------------- Y07-08 44.20 55.50 11.30 1.13 0.50 0.06 ------------------------------------------------------------------------- ------------------------------------------------------------------------- Y07-18 54.20 76.00 21.80 1.45 0.78 0.06 -------------------------------------------------------------------------
Since optioning the property on
Since
In addition to the ongoing drilling, planned work for the Suwar deposit includes metallurgical testing of the sulphide mineralization intersected to date. In 2010 an electromagnetic geophysical survey is to be completed. Anomalies generated by this survey will be drill tested.
Cantex believes that the Suwar project has the potential to host a significant nickel - copper - cobalt +/- platinum group element mine and is pleased that Vale has committed to spending an additional US$1 million on the project.
Management looks forward to the results of this work.
This press release has been prepared by Chad Ulansky, a Qualified Person.
Signed, Charles Fipke Charles Fipke Chairman and Geologist
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.
%SEDAR: 00010333E
For further information: For further information: Cantex Mine Development Corp., 203-1634 Harvey Ave., Kelowna, BC, V1Y 6G2, Tel (250) 860-8582, Fax (250) 860-1362, Email [email protected]
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