KELOWNA,
BC, Sept. 9, 2024 /CNW/ - 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.
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.
SOURCE Cantex Mine Development Corp.
