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KELOWNA, BC, Feb. 16 /CNW/ - Cantex Mine Development Corp. (CD : TSXV) ("Cantex") is pleased to announce the staking of claims in
the Yukon, Canada.
A new belt of gold mineralization has been discovered by ATAC Resources
Ltd. ("ATAC") in the Yukon, Canada: a 175 kilometer east - west
trending zone located 100 kilometers northeast of Mayo. The belt was
discovered principally by follow up prospecting and drilling of arsenic
anomalies that were detected by a government sponsored stream sediment
survey. The gold mineralization appears geologically similar to Carlin
style mineralization in Nevada, which is the second largest gold
district in the world. Recent drilling by ATAC has discovered Carlin
type gold intersections of up to 65.2 meters of 4.65 g/t gold near the
eastern extremity of the east - west trending zone.
Consequently, Cantex has staked an approximately 1,045 hectare claim
block adjacent to the eastern extremity of ATAC's claim block which is
on strike with the recent Carlin style mineralization discovered by
ATAC. In addition, an approximately 1,000 hectare claim block has been
staked over the source area of several arsenic anomalies as reported on
the government stream sediment maps located 15 km southeast of ATAC's
Rau gold deposit which is situated towards the western end of their
staked zone.
Cantex is planning a two to three million dollar heavy mineral
exploration survey over unclaimed areas in the vicinity of the belt
containing the newly discovered Carlin mineralization. In addition,
soil sampling and geologic mapping of the newly staked claims is
planned to commence in spring with drill testing to follow. Cantex has
access to heavy mineral technology developed by the CF Mineral Research
Ltd. laboratory that has to date detected four Carlin style heap leach
gold deposits in Nevada that were undetected by analysis of arsenic in
stream sediments. These four deposits are now active gold mines.
This press release has been prepared by Chad Ulansky P.Geol, a Qualified
Person.
Signed,
Charles Fipke
Chairman
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.
For further information:
Cantex Mine Development Corp., 203-1634 Harvey Ave., Kelowna, BC, V1Y 6G2, Tel (250) 860 8582, Fax (250) 860 1362, Email cantex@shaw.ca
