KELOWNA, BC, Nov. 5, 2019 /CNW/ - Cantex Mine Development
Corp. (CD: TSXV) (the "Company") has released an update on the
work program at its Massive Sulphide project within its
100-per-cent-owned 14,077 hectare North Rackla claim block where
drilling continues to define a lead-zinc-silver mineralized system
with Broken Hill Type (BHT) affinities.
CEO Chad Ulansky reports
HIGHLIGHTS
- 11 holes from drilling at pads MZ3, MZ4 and MZ5 have returned
assays that show the persistence of high-grade lead-zinc-silver
mineralization within the Main Zone
- Highlights include YKDD19-046 (32.0m of 8.47% lead, 16.47% zinc and 134.4 g/t
silver) at pad MZ5, and YKDD19-068 (22.2m of 6.84% lead, 1.69% zinc and 85.2 g/t
silver) at pad MZ4
- Additional drilling along trend to the ENE and WSW of the holes
released thus far has intersected mineralization along 1,675m of strike of the prospective Main Zone
trend
- Results continue to confirm the presence of a large-scale
mineralizing system within a marine sedimentary sequence of
Proterozoic age
- The Company remains fully financed, with $12 million of cash on hand
DRILLING UPDATE
To date, 30,000 metres of drilling has been completed and 3 rigs
are currently drilling along strike and down dip along the Main
Zone trend, including one rig currently testing the down-dip
extension of the high-grade mineralization at depth below pad MZ5
at 100-metre (vertical) intervals. New intersections of massive
sulphide have been logged 1,386m
along strike to the ENE from the Pad MZ6 discovery holes. To the
WSW, massive sulphides have been logged at Pad 2, 175m from Pad MZ6.
115 holes have been drilled to date at North Rackla, outlining a
large footprint of mineralization hosted along or near a
siltstone-dolostone contact within a Proterozoic sequence of marine
sedimentary rocks. Drilling is expected to continue into December
with assays results expected to be received in batches through to
2020.
MAIN ZONE RESULTS
Full assay results have been now been received from Pads MZ3,
MZ4 and MZ5, and are reported below in Table 1. Drilling at
depth is ongoing in this area below pad MZ5. In total,
massive sulphides have been now logged in drill core as far as
1,800m ENE of Pad 6, bringing the
known mineralized trend up to 1,675m
of strike excluding the 300m dike
swarm). Results have also been received from 9 holes drilled from
pads MZ7, MZ9 and MZ10, which were drilled into the dike swarm
segment where, as expected, little to no mineralization was
encountered. A plan view of the pads reported in this release is
attached to this press release (Figure 1), as are cross sections
through pads MZ3 through MZ6 (Figures 2-5).
MAIN ZONE RESULTS TABLE
Pad
|
Dip
|
Hole
|
From
(m)
|
To
(m)
|
Length
(m)
|
True
Width
(m)
|
Silver
(g/t)
|
Lead+Zinc
(%)
|
Lead
(%)
|
Zinc
(%)
|
Copper
(%)
|
Mn
(%)
|
Comment
|
MZ5
|
-88
|
YKDD19-046
|
104.5
|
136.5
|
32.0
|
11.2
|
134.41
|
24.94
|
8.47
|
16.47
|
0.13
|
2.59
|
Fresh
Sulphide
|
|
|
Including
|
122.5
|
134.5
|
12.0
|
4.2
|
231.75
|
52.61
|
14.50
|
38.11
|
0.06
|
1.42
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
MZ4
|
-45
|
YKDD19-059
|
No
significant
intervals
|
|
|
|
|
|
|
|
|
|
Oxidized
|
|
-62
|
YKDD19-062
|
64.0
|
69.0
|
5.0
|
3.41
|
17.2
|
2.29
|
1.10
|
1.19
|
0.06
|
4.13
|
Fresh
Sulphide
|
|
|
|
104.0
|
104.5
|
0.5
|
0.34
|
73.4
|
16.91
|
5.21
|
11.70
|
0.03
|
0.38
|
|
|
-70
|
YKDD19-064
|
76.0
|
77.0
|
1.0
|
0.67
|
13.9
|
4.08
|
3.59
|
0.49
|
0.02
|
1.06
|
Fresh
Sulphide
|
|
|
|
80.8
|
87.1
|
6.3
|
4.22
|
40.8
|
4.75
|
1.88
|
2.87
|
0.09
|
4.44
|
|
|
-80
|
YKDD19-067
|
96.8
|
105.0
|
8.2
|
4.34
|
9.7
|
2.76
|
1.83
|
0.93
|
0.01
|
3.91
|
Fresh
Sulphide
|
|
|
|
120.0
|
122.4
|
2.4
|
1.27
|
302.0
|
14.24
|
13.25
|
0.99
|
0.87
|
2.37
|
|
|
|
|
188.3
|
197.8
|
9.5
|
5.03
|
62.9
|
12.75
|
6.22
|
6.53
|
0.01
|
1.67
|
|
|
|
Including
|
194.1
|
197.8
|
3.7
|
1.96
|
136.1
|
28.54
|
14.44
|
14.10
|
0.02
|
2.88
|
|
|
-89
|
YKDD19-068
|
166.0
|
167.0
|
1.0
|
0.23
|
40.2
|
6.49
|
3.12
|
3.37
|
0.02
|
2.49
|
Fresh
Sulphide
|
|
|
|
168.9
|
191.1
|
22.2
|
5.00
|
85.2
|
8.53
|
6.84
|
1.69
|
0.04
|
2.78
|
|
|
|
Including
|
171.4
|
174.1
|
2.7
|
0.61
|
267.0
|
30.78
|
29.69
|
1.09
|
0.08
|
1.86
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
MZ3
|
-45
|
YKDD19-044
|
90.2
|
91.2
|
1.0
|
0.78
|
11.4
|
2.53
|
2.10
|
0.43
|
0.01
|
2.78
|
Oxidized
|
|
-62
|
YKDD19-047
|
117.5
|
123.5
|
6.0
|
4.46
|
32.6
|
2.79
|
0.96
|
1.83
|
0.28
|
3.13
|
Oxidized
|
|
-70
|
YKDD19-050
|
129.0
|
130.0
|
1.0
|
0.64
|
37.3
|
8.83
|
8.49
|
0.34
|
0.03
|
1.43
|
Fresh
Sulphide
|
|
|
|
140.0
|
141.5
|
1.5
|
0.96
|
94.2
|
0.50
|
0.30
|
0.20
|
0.19
|
2.43
|
|
|
|
|
157.3
|
160.3
|
3.0
|
1.93
|
99.5
|
14.34
|
9.81
|
4.53
|
0.08
|
2.68
|
|
|
-80
|
YKDD19-052
|
171.5
|
172.5
|
1.0
|
0.56
|
102.0
|
0.35
|
0.08
|
0.27
|
1.39
|
2.59
|
Fresh
Sulphide
|
|
-89
|
YKDD19-055
|
268.0
|
269.0
|
1.0
|
0.37
|
52.6
|
1.16
|
0.53
|
0.63
|
0.26
|
2.27
|
Fresh
Sulphide
|
|
|
|
319.0
|
320.0
|
1.0
|
0.37
|
51.2
|
8.10
|
4.91
|
3.19
|
0.03
|
1.55
|
|
|
|
|
321.1
|
322.2
|
1.1
|
0.41
|
15.1
|
5.84
|
5.37
|
0.47
|
0.01
|
0.64
|
|
|
|
|
346.9
|
348.9
|
2.0
|
0.75
|
30.7
|
13.90
|
6.79
|
7.11
|
0.03
|
3.55
|
|
The drill holes reported in this press release were drilled
using HQ (63.5mm) diamond drill bits. The core was logged,
marked up for sampling and then divided into equal halves using a
diamond saw on site. One half of the core was left in the
original core box. The other half was sampled and placed into
sealed bags which were in turn placed into larger bags closed with
security seals prior to being transported to CF Mineral Research
Ltd in Kelowna, BC.
At CF Minerals the samples were dried prior to crushing to -10
mesh. The samples, which averaged over 3kg, were then mixed
prior to splitting off 800g. The 800g splits were pulverized
to -200 mesh and a 250g split was sent for assay. Quality
control procedures included the insertion of coarse quartz samples
to assess the sample preparation. Silica blanks were inserted
along with certified reference samples. These quality control
samples were each inserted approximately every 20 samples.
ALS Chemex in Vancouver assayed
the samples using a four-acid digestion with an ICP-MS
finish. The 48 element ME-MS61 technique was used to provide
a geochemical signature of the mineralization. Where lead or
zinc values exceeded one percent the Pb-OG62 or Zn-OG62 techniques
were used. These have upper limits of 20% lead and 30% zinc
respectively. Samples with lead and zinc values over these
limits are then analyzed by titration methods Pb-VOL70 and
Zn-VOL50. The over limit analyses (and the over limit – over
limit analyses) contribute to delays in receiving final assay
results.
DISCUSSION
As drilling continues along strike and down dip, the Company
continues to define an extensive trend of high-grade
lead-zinc-silver mineralization believed to be of sedimentary
exhalative (sedex) origin. Mineralization is coarsely
crystalline and appears to be stratabound, showing evidence of
recrystallization during mild metamorphism. Based on a combination
of multiple factors (the nature of the sedimentary host sequence,
the Proterozoic age, the elevated manganese levels, and the high
silver content), the North Rackla mineralization is believed to
belong to the BHT (Broken Hill type) sub-class of sedex
lead-zinc-silver deposits.
The high grades being encountered clearly demonstrate the
fertile nature of this large-scale system. Drilling to date has
shown the potential for both structural thickening and thinning,
with mineralized widths to date averaging 7.54 metres per drill
hole in the Main Zone (true thicknesses range from ~0.5m to
>16m). Structural and geochemical
data are being compiled in order to guide the focus of future
drilling within the Main Zone sequence, in parallel with the
further interpretation of geophysical surveys run over the course
of the summer program.
In addition, CEO Chad Ulansky
states, "In just one season, we have expanded the known footprint
of mineralization, in drill core, to over 1,975m of strike length within the Main Zone
sequence. Based on observations in the field and drill core, it is
clear that we are dealing with a system of considerable scale,
capable of generating exceptional lead-zinc-silver grades
(e.g., 14.50% lead, 38.11% zinc and 231.8 g/t silver over a
true width of 4.2m in hole
YKDD19-046). Our rapid advancement of the project from grassroots
prospecting, through to the current phase of drilling definition,
is due to the hard work of our field crews and the generally
predictable nature of the Main Zone sequence. Drilling results from
this significant phase of delineation will define the most
prospective sections of the known trend for additional drilling and
should also allow vectoring to more vent/feeder-proximal facies. It
is highly encouraging to be experiencing this kind of success at
such an early stage in the history of the project. In many regards,
we have barely scratched the surface at North Rackla, but we remain
exceedingly optimistic about the project based on what we have seen
already."
Drilling is ongoing along strike and at depth within the Main
Zone on flat ground with good access. Assays from additional holes
along strike and at depth are expected to continue to come in
through to 2020.
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
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SOURCE Cantex Mine Development Corp.