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Cantex intersects massive sulfides in Yemen
Cantex intersects massive sulfides in Yemen.
About this update from Cantex Mine Development Corp.
[{"type":"text","content":"\n\n\n\n\nSuwar Nickel, Copper and Cobalt Project, Yemen\n\nLOWNA, BC, Dec. 12 /CNW/ - Cantex Mine Development Corp (CD - TSX\nVenture Exchange) (\"Cantex\" or the \"Company\").\nThe Company is pleased to report that core drilling carried out at its\n100% owned Suwar nickel, copper and cobalt project in Yemen has intersected\n7.44 meters of massive and disseminated sulfides, averaging about 48% sulfide,\nin drill hole Y05-07. This is the best intersection of massive sulfides the\nCompany has obtained at Suwar to date.\nHole Y05-07 is located 700 meters north of Suwar Hill, where drilling \nhas returned the previous best intersections. For comparative purposes the\nfive best intersections at Suwar Hill averaged 10.3 meters and contained an\naverage of 25% sulfide with an average grade of 1.31% Ni and 0.65% Cu. This\nhas an in ground value of US $202 per ton at current metal prices. The\nsulfides in Y05-07 are visually similar to the sulfides seen at Suwar Hill\nbut are more abundant. Representative samples have been sent for assay and\nanalyses for nickel, copper, cobalt, gold and platinum group elements.\nThe commercial grade massive sulphide intersections of holes Y05-03 and\nY05-06, previously reported in the news release of August 26, 2005, are\nsituated in between Y05-07 and Suwar Hill, 300 and 625 meters respectively\nnorth of Suwar Hill.\nThe Company is most encouraged by all of these results as they\ndemonstrate that swells of massive sulfide occur along the mineralized zone\ndefined by a 1.1 kilometer north-south trending UTEM geophysical anomaly open\nto the south. These swells can rapidly add up to significant tonnages. Infill\ndrilling is planned to further delineate the swells along this 1.1 kilometer\nzone.\nOver the past 25 years there has been substantial international interest\nand investment in Yemen's resource sector. Seven international petroleum\ncompanies are currently in production and others are actively exploring. In\nthe mineral sector ZincOx Resources recently signed an exploitation contract\nwith the Government of Yemen to mine its Jabali zinc deposit.\nThe Minister of Energy and Minerals and the Governor of Amran have\nconsistently expressed support for Cantex and the Suwar project and recently\ntoured the Suwar project in a televised visit with Cantex directors Charles\nFipke and Katherine MacDonald....