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Cantex re-evaluates mineralization at Wadi Qutabah
Cantex re-evaluates mineralization at Wadi Qutabah.
About this update from Cantex Mine Development Corp.
[{"type":"text","content":"\n\n\n\nKELOWNA, BC, June 14 /CNW/ - Cantex Mine Development Corp (CD - TSX\nVenture Exchange) ("Cantex" or the "Company").\n\n\nThe Company is pleased to report that improved market conditions have\nincreased the potential of its Wadi Qutabah project in Yemen. Cantex is\ncurrently drill testing Wadi Qutabah.\n\n\nPrevious work at Wadi Qutabah has identified 5 flat lying horizons of\nmassive and disseminated sulphide mineralization that outcrop over an area of\nup to 15 square kilometers. The apparent thickness of the disseminated\nsulphide mineralization varies from 1 to 20 meters both within and between\nhorizons. Massive sulphides are seen in outcrop within three of the horizons\nand vary from 0.2 to 3.0 meters in thickness.\n\n\nResults of grab samples from the sulphide horizons were previously\nreported on August 23, 2001 and they are presented again in the following\ntable with values per ton determined using current metal prices. The samples\nwere collected over a 3300 meter portion of the outcropping sulphide\nmineralization of the third horizon.\n\n\n-------------------------------------------------------------------------\nSample Nickel Copper Cobalt Value per ton\n-------------------------------------------------------------------------\n % % % USD\n-------------------------------------------------------------------------\nYRX 5543 0.693 0.066 0.163 $ 329.05\n-------------------------------------------------------------------------\nYRX 5668 0.353 0.185 0.101 $ 181.92\n-------------------------------------------------------------------------\nYRX 5670 0.368 0.272 0.121 $ 196.32\n-------------------------------------------------------------------------\nYRX 5709 0.403 0.104 0.149 $ 203.15\n-------------------------------------------------------------------------\nYRX 5710 0.261 0.258 0.077 $ 142.88\n-------------------------------------------------------------------------\nYRX 5718 0.342 0.108 0.088 $ 168.96\n-------------------------------------------------------------------------\n\n\nCantex is currently conducting a core drilling program at Wadi Qutabah.\nEight holes of a 10 hole program are now complete. Six of the holes test an\narea where heavy mineral samples from three adjacent streams returned the\nhighest PGE concentrations of any samples collected within the 52,000 km2\nexplored by Cantex...