Cantex Announces Drill Confirmed Strike Extended To 2.6 km At Its Silver-lead-zinc-germanium Deposit On Its 100% Owned North Rackla Claims
KELOWNA, Sept. 9, 2024 - Cantex Mine Development Corp. (TSXV: CD) (OTCQB: CTXDF) (the "Company") is pleased to announce a substantial extension of the drill confirmed strike length of the Massive Sulphide Zone. Main Zone Drilling
Cantex is pleased to report that drilling has extended the Main Zone mineralization strike length by 250 metres to 2.6 kilometres. This is a substantial increase.
Since restarting work in late August Cantex has completed eight drill holes at the Discovery Sector of the Main Zone. Every hole has intersected the expected silver-lead-zinc +/- germanium mineralization. Consistent with previous drilling in this Sector the geologists logging the core report seeing up to 3% chalcopyrite (a copper sulphide) in the mineralized zones suggesting that this portion of the Main Zone may in fact be near the central feeder of the mineralization. If this is the case the mineralization has the potential to have significant additional strike extent to the northeast.
The location of the pads from which the 2024 drilling has been undertaken is shown in Figure 1. Cross sections showing the mineralization intersected from drill pads MZ53B and MZ60 are presented in Figures 2 and 3 respectively.
Drilling continues at the Discovery Sector of the Main Zone with two drills.
Summary
Cantex is pleased to have made a significant extension to the Main Zone mineralization. The Zone has now been drill confirmed over a strike length of 2.6 kilometres and to a depth of over 700 metres. The mineralization remains open along strike and to depth.
About Cantex
Cantex is focused on its 100% owned 20,000 hectare North Rackla Project located 150 kilometers northeast of the town of Mayo in the Yukon Territory, Canada where high-grade massive sulphide mineralization has been discovered. Over 60,000 meters of drilling has defined high grade silver-lead-zinc-germanium mineralization over 2.6 kilometres of strike length and 700 metres depth. The mineralization remains open along strike and to depth. The Company is led by Dr Charles Fipke, C.M., the founder of Ekati, Canada's first diamond mine.
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
FORWARD LOOKING STATEMENTS: Certain of the statements and information in this press release constitute "forward-looking statements" or "forward-looking information", including statements regarding the expected use of proceeds of the private placement. Further, any statements or information that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects", "anticipates", "believes", "plans", "estimates", "intends", "targets", "goals", "forecasts", "objectives", "potential" or variations thereof or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, or the negative of any of these terms and similar expressions) are not statements of historical fact and may be forward-looking statements or information. The Company's forward-looking statements and information are based on the assumptions, beliefs, expectations and opinions of management as of the date of this press release, and other than as required by applicable securities laws, the Company does not assume any obligation to update forward-looking statements and information if circumstances or management's assumptions, beliefs, expectations or opinions should change, or changes in any other events affecting such statements or information. For the reasons set forth above, investors should not place undue reliance on forward-looking statements and information.
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SOURCE Cantex Mine Development Corp.
Contact
For further information: Cantex Mine Development Corp, Tel: +250-860-8582; Email: info@cantex.ca