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Cantex Mine Development Corp. - Greenland update
Cantex Mine Development Corp. - Greenland update.
About this update from Cantex Mine Development Corp.
[{"type":"text","content":"\n\n\n\n\nLOWNA, BC, Nov. 29 /CNW/ - Cantex Mine Development Corp (CD - TSX\nVenture Exchange)(\"Cantex\" or the \"Company\").\nIn its press release of March 14, 2005 Metalex Ventures Ltd., operator of\nthe Greenland project, announced that it had discovered very strong counts of\nexceptional diamond indicator minerals in two samples, located 430 metres\napart, on the southern shore of a lake. As these indicator minerals have very\nfresh surface textures, and most of the G10 garnets are coated with kelyphite,\nthe G10 garnets are considered to be derived from a nearby diamondiferous\nkimberlite pipe source. Charles Fipke commented that \"that no previous\nexploration samples seen by him, including more than 9,000 samples from the\nEkati claim block, has produced as many high quality (Cr2O3/CaO ratio) G10\ngarnets as either of the two Greenland samples\".\nIn a press release dated June 24, 2005 Metalex announced that ground\ngeophysical work has been completed over part of the lake, a program of heavy\nmineral sampling had been carried out and that 16 drill holes had been drilled\nacross the shallow lake. It also announced that glacial studies were in\nprogress to determine the ice direction.\nThe glacial studies indicated that there were two ice directions. The\nfirst, and dominant, direction was that of an ice sheet moving in an\napproximate east to west direction. The second direction was that of a small\nvalley glacier moving from the west to the east. This latter glaciation had\nthe effect of redistributing minerals dispersed by the earlier ice sheet. This\nmeans that the likely source of the diamond indicator minerals is either in\nthe lake or to the immediate west or southwest of the anomalous sites.\nAdditional ground geophysical surveying is planned to explore previously\nunsurveyed prospective areas.\nDiamond indicator sampling around the shores of the lake returned largely\nnegative results and this is entirely consistent with a diamond source being\nlocated within the 5 km by 500 - 1000 metre lake.\nInterpretation of the ground geophysics, carried out by Scott Hogg and\nAssociates, has identified 14 magnetic targets ranging in size from 50 metres\nto 250 metres in diameter. Two of these, located in the lake, are coincident\nwith ground gravity anomalies.\nSixteen shallow drill holes were drilled in a broadly north-sou...