Cantex Commencing Exploration Program At The North Rackla Claims, Yukon

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Cantex Commencing Exploration Program At The North Rackla Claims, Yukon

Canada NewsWire

/THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES./

KELOWNA, BC, April 15, 2019 /CNW/ - Cantex Mine Development Corp. (CD: TSXV) (the "Company") is pleased to announce the commencement of the upcoming work program on its 100% owned 14,077 hectare North Rackla claim block.

Mobilization

With the successful completion of the $15 million financing Cantex will now be commencing its 2019 exploration program.  The Company will begin mobilizing equipment and supplies on Monday, April 15th in support of the geophysical program.

Geophysics

Ground gravity, electromagnetic, resistivity and magnetic surveys are planned over 1 km2 covering 2.3 kilometres of the strike length of the massive sulphide zone.  These surveys will be focused on determining the exact location of the massive sulphide mineralization beneath a region covered in glacial till between the Discovery and Extension zones.  The results will be used to fine tune the proposed drill program as well as test areas at the extremities of the mineralized zone.

Drilling

Three diamond drills will be utilized on the project this year.  These drill rigs will be tasked with completing a 75 hole, 17,000 metre drill program on the massive sulphide zone and a three hole 1,000 metre program at the northern gold area.  Drilling will commence once field conditions allow, which is anticipated to be in late May. 

Summary

The Directors are exceedingly optimistic about the summer program and look forward to better defining the subsurface extent of the 2.4 kilometre long massive sulphide zone which has been identified by soil-talus sampling, prospecting, trenching and 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.

Signed,

Charles Fipke

Charles Fipke

Chairman

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. Information set forth in this news release includes forward-looking statements under applicable securities laws. Forward-looking statements are statements that relate to future, not past, events. In this context, forward-looking statements often address expected future business and financial performance, and often contain words such as "anticipate", "believe", "plan", "estimate", "expect", and "intend", statements that an action or event "may", "might", "could", "should", or "will" be taken or occur, or other similar expressions. All statements, other than statements of historical fact, included herein including, without limitation; statements about the terms and completion of the proposed sale transaction are forward-looking statements. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, risks identified in the management discussion and analysis section of the Company's interim and most recent annual financial statement or other reports and filings with Canadian securities regulators. Forward looking statements are made based on management's beliefs, estimates and opinions on the date that statements are made and the respective companies undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable securities laws. Investors are cautioned against attributing undue certainty to forward-looking statements.  THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES.

SOURCE Cantex Mine Development Corp.

View original content: http://www.newswire.ca/en/releases/archive/April2019/15/c8224.html

Copyright CNW Group 2019

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