Cantex Provides Drill Program Detail for North Rackla Claims, Yukon

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Cantex Provides Drill Program Detail for North Rackla Claims, Yukon

Canada NewsWire

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.

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.

View original content: http://www.newswire.ca/en/releases/archive/June2018/14/c7236.html

Copyright CNW Group 2018

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