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KELOWNA, BC, May 25, 2022 /CNW/ - Cantex Mine Development Corp. (TSXV: CD) (the "Company") has commenced drilling at its 100-percent-owned 14,077 hectare North Rackla claim block in the Yukon.
Dr. Charles Fipke reports
Drilling Underway at GZ Zone
Cantex is pleased to announce that drilling has now commenced on its North Rackla project in the Yukon. Currently, two drills are working on testing the GZ Zone at the Massive Sulphide project. The maiden drill program here in 2021 encountered significant high-grade mineralization such as 16.05 metres of 24% lead-zinc and 101 g/t silver which included 3.7 metres of 60% lead-zinc and 336 g/t silver.
The area of the GZ Zone is covered in glacial sediments making soil-talus sampling and geological mapping not possible. This season's drilling at the GZ Zone is targeted to better determine the geometry and control of this mineralization by drilling beneath the glacial cover.
Later in the season drilling will also be undertaken on the Main Zone to extend the 2.1km strike length. Further drilling will also be undertaken on regional targets within the North Rackla claim block.
The Company looks forward to a productive field season.
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.
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