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Update: Cantex Intersects Massive Sulphides Between Discovery and Extension Zones Increasing Depth to 680 m

29.09.2020  |  CNW
KELOWNA, Sept. 29, 2020 - Cantex Mine Development Corp. (CD: TSXV) (the "Company") has released an update on the work program at its 100-percent-owned 14,077 hectare North Rackla claim block in the Yukon.

Dr. Charles Fipke reports

HIGHLIGHTS

  • Drilling underway and massive sulphide mineralization intersected at a vertical depth of 680 metres

Drilling of Massive Sulphide Project

Drill testing of the Main Zone of the Massive Sulphide Project continues and has further extended the previously discovered mineralization to depth. A -84 degree hole drilled from pad MZ 34 has further extended the mineralization below the intercept announced on September 14, 2020. We are expecting the results from this previously announced intercept in three weeks.

Semi-massive sulphides were intersected from 670.75 to 680.3 metres down hole, from 688.45 to 692.6 metres and from 698.5 to 701 metres. This deepest intercept equates to 680 metres vertically below surface, a step down of 130 metres below the previous hole.

Cantex continues to be impressed with the continuity of the mineralization to depth.

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

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.



Contact
Cantex Mine Development Corp., Tel: +1-250-860-8582; Email: info@cantex.ca

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