Business
Cantex update on Nevada and Yemen
Cantex update on Nevada and Yemen
About this update from Cantex Mine Development Corp.
[{"type":"text","content":"\n\n\n\n Jun. 17, 2010 (Canada NewsWire Group) -- Cantex Mine Development Corp. (CD : TSXV) ("Cantex" or the "Company") is pleased to provide an update on the progress on its Nevada and Yemen projects.\n\nNevada Gold Projects\n\nThe Company is pleased to report that the required permits for its approximately 50 hole drill program have now been granted. The program will test thirteen targets on seven properties. Details on the individual properties are contained in the Company's news release of March 26, 2010.\nThe first phase of drilling will commence on the Leonard Creek property where 12 holes are planned to test nine targets. The Leonard Creek property consists of 127 claims covering 1,062 hectares and is located 80km north of the Crofoot-Lewis Mine. Significantly, the alluviums covering the claims area have historically been extensively placer mined for gold. Leonard Creek is one of the few major placer areas in Nevada where a hard rock gold mine has yet to be found as the source of the placer gold.\nTo identify the potential source of the placer gold a CSAMT geophysical survey was conducted. Several targets were identified including buried structurally controlled resistivity highs and vertical structurally controlled conductive zones potentially reflecting areas suitable for gold mineralization. Mapping of the project area has also identified two areas of outcropping sulphur mineralization, two areas of siliceous sinter and one area of alteration. These areas will be drill tested. It is possible that one or more of these anomalies may be the source to the abundant placer gold.\n\nSuwar Nickel-Copper-Cobalt Project\n\nThe Company is also pleased to report that the 1,624 line kilometer helicopter-borne geophysical survey has now commenced over the Suwar and Wadi Qutabah project areas. The survey has been designed and funded by Vale S.A. who has an option over Cantex's Suwar and Wadi Qutabah projects. Aeroquest's AeroTEM IV system is being used to collect electromagnetic, magnetic and radiometric data. The survey is designed to test for nickel - copper - cobalt bearing massive sulphide mineralization similar to what has been previously discovered at Suwar Hill.\nA drilling program will be planned to test anomalies produced by the survey.\n\nAl Hariqah Gold Project\n\nDrilling continues at the Al Hariqah pro...