Cantex Intersecting Massive Sulphide Mineralization at Both Main and GZ Zones at North Rackla

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Cantex Intersecting Massive Sulphide Mineralization at Both Main and GZ Zones at North Rackla

Canada NewsWire

KELOWNA, BC, Dec. 3, 2020 /CNW/ - Cantex Mine Development Corp. (TSXV: CD) (the "Company") has released an update on the work program at its 14,077 hectare North Rackla claim block where drill results continue to define a lead-zinc-silver mineralized system with Broken Hill Type (BHT) affinities.

Dr. Chuck Fipke reports

HIGHLIGHTS

  • Drilling from pad MZ 51 at the north eastern end of the Main Zone intersects sulphide mineralization extending the strike length of the mineralization to over 2 kilometres
  • Drilling at the new GZ zone also intersects strong massive sulphides.
  • Road building at the GZ zone exposes in situ mineralization

MAIN ZONE

Drilling has now extended the strike length of the Main Zone to over 2 kilometres.  A drill testing the northeastern extent of the Main Zone has intersected 4.5 metres of massive to disseminated sulphides between 68.0 and 78.2 metres depth.  This hole was drilled at a -45 degree inclination from pad MZ 51, which is located 1.95 kilometres from pad MZ 5 (see Figure 1).  

GZ ZONE

A vertical hole was undertaken to assist in determining the orientation of the mineralization.  This hole intersected massive sulphide mineralization (46.1 to 52.8 metres).

While constructing access to a forthcoming drill pad the mineralization was exposed.  At surface, the mineralization is 6.35 metres wide (true width) and is dominantly intensely oxidized but does contain two one metre wide massive galena sections. 

A map showing the location of the current drilling and GZ Zone exposure is shown in Figure 1.   We are expecting the next batches of drill results for the project within the next week.  They will be reported when received.

Figure 1.  Massive Sulphide Area Plan View

Figure 1. Massive Sulphide Area Plan View (CNW Group/Cantex Mine Development Corp.)

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.

SOURCE Cantex Mine Development Corp.

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/December2020/03/c1222.html

Copyright CNW Group 2020

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