KELOWNA, BC , Juli 28, 2022 /CNW/ - Cantex Mine Development Corp. (TSXV: CD) (the "Company") is pleased to provide an update on drilling of the Main Zone at its 100-percent-owned 14,077 hectare North Rackla claim block in the Yukon .
Dr. Charles Fipke reports
Hole YKDD22-246 was drilled at a -65 degree dip from the same pad MZ 52 and at the same 145 degree azimuth as hole YKDD22-239. As reported on July 13, 2022 hole YKDD22-239, drilled at a -45 degree dip, contained a 7.5 meter massive to disseminated sulphide intersection (see Figures 1 and 2).
The semi-massive to massive sulphides in hole YKDD22-246 consist of sphalerite (zinc sulphide) and galena (lead sulphide) and were intersected from 49.6 to 77.3 metres. The 27.7 metre intersection occurs between 51 and 69 metres depth from the surface (see Figure 2). A minor amount of chalcopyrite (copper-iron sulphide) was intersected with massive lead-zinc sulphides from 90.7 to 91.4m .
The above mentioned two intersections from pad MZ 52 in the northeast extend the Main Zone to 2.15 kilometres. Drilling has now commenced at a -80 degree dip below the two intersections on pad MZ 52 (see Figure 2) and the second drill has stepped out further to northeast along strike.
The HQ sized core has been split and is being shipped to CF Minerals in Kelowna for sample preparation prior to being sent to ALS Chemex in Vancouver for analysis.
The technical information and results reported here have been reviewed by Mr. Chad Ulansky P.Geo ., a Qualified Person under National Instrument 43-101, who is responsible for the technical content of this release.
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 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 statements 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 undertake 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.