Cantex Mine Development : 10 JUNE 2024Cantex Intersects Copper Mineralization in First Three Holes on its North Rackla Copper-Gold, Germanium and Base Metal Project in the Yukon
June 10, 2024 at 12:42 pm
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Cantex Mine Development Corp.
203 - 1634 Harvey Ave.
Kelowna, BC V1Y 6G2
250.860.8582
www.cantex.ca
CANTEX INTERSECTS COPPER MINERALIZATION IN FIRST THREE HOLES ON ITS NORTH RACKLA COPPER-GOLD, GERMANIUM AND BASE METAL PROJECT IN THE YUKON
Kelowna, Canada - June 10, 2024 - Cantex Mine Development Corp. (CD: TSXV; CTXDF: OTCQB) (the "Company") is pleased to announce that it has intersected copper mineralization in its first three holes drilled at its North Rackla project, Yukon.
Copper Project Drilling
Since drilling first commenced on June 3, 2024 three diamond drill holes have now been completed at the Copper Project on the western side of the Company's North Rackla property. Previous drilling on this project intersected 2.5 metres of 3.93% copper including 1 metre of 7.32% copper (see news release of April 13, 2023).
Hole YKDD24-287 was drilled at a -45 degree dip and 13 degree azimuth. It intersected 1.8 metres of an estimated 8% chalcopyrite contained within a quartz carbonate breccia from 7.1 metres depth. Hole YKDD24-288 was drilled from the same pad at a -45 degree dip at an azimuth of 35 degrees. This hole intersected 17 metres of an estimated 2% chalcopyrite from 9.5 metres depth. Hole YKDD24-289 intersected 5.05 metres of an estimated 2% chalcopyrite from 3.3 metres depth. The hole was from the same pad, at a dip of -45 degrees and an azimuth of 305 degrees.
Following logging the mineralized portions of the holes are split. One half of the split core is in the process of being submitted to laboratories for sample preparation and analysis for copper, gold and associated elements. Results will be reported as soon as available.
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
2.3 kilometers of strike length and 700 meters 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,
Chad Ulansky
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Chad Ulansky
President and CEO
For further information:
Cantex Mine Development Corp,
Tel: +250-860-8582;
Email: info@cantex.ca
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.
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Cantex Mine Development Corp. is a Canada-based exploration stage company. The Company's principal business activity is the acquisition and exploration of mineral properties for commercial mineral deposits. The Companyâs primary project is located approximately 100 kilometers northeast of Mayo, Yukon Territory, Canada. The Company has approximately 1,075 claims covering over 21,500 hectares in the Yukon. The Company has a 100% interest in four groups of gold exploration claims comprising of approximately 86 claims. The Company has two projects in Yemen: Al Hariqah (Gold) and Al Masna (Nickel, Copper, Cobalt). The Company owns 60% interest in the Al Hariqah (Gold) project. The Al Hariqah is a gold deposit is located approximately 130 kilometers (km) northwest of Sana'a Yemen. The Al Masna'a nickel, copper, cobalt project is located in the Saadah region approximately 205 km north-northwest of the capital city, Sana'a, and 25 km south of the border with Saudi Arabia.
Cantex Mine Development : 10 JUNE 2024Cantex Intersects Copper Mineralization in First Three Holes on its North Rackla Copper-Gold, Germanium and Base Metal Project in the Yukon