LOWNA, BC, Feb. 20 /CNW/ - Cantex Mine Development Corp (CD - TSX
Venture Exchange) ("Cantex" or the "Company").
Suwar Nickel, Copper and Cobalt Project, Yemen
The Company is pleased to report that it has received assay results from
a massive and disseminated sulfide intersection in hole Y05-07 previously
reported (December 12, 2005) from its 100% owned Suwar project.
An 11.33 meter intercept from 122.47 meters was sent for analysis. This
11.33 meter section averaged 1.14% nickel, 0.52% copper and 0.08% cobalt with
minor amounts of gold (61 ppb) and silver (1.7 ppm). The in ground value of
this intercept at current metal prices is C$ 257.66 per ton.
The 11.33 meter intercept contained a higher grade 8.09 meter section
from 124.30 meters which averaged 1.50% nickel, 0.67% copper and 0.10% cobalt
with minor amounts of gold (82 ppb) and silver (2.4 ppm). At current metal
prices the in ground value of this intercept is C$ 335.11 per ton.
Hole Y05-07 is an inclined hole (-45 degrees) drilled 700 meters north of
Suwar Hill where previous drilling returned the best intersections. For
comparative purposes the best five holes averaged 10.3 meters and contained an
average grade of 1.31% nickel, 0.65% copper and 0.06% cobalt. At current metal
prices the average in ground value of these intersections is C$288.30 per ton.
Cantex is encouraged by the results of the drilling at Suwar as they
demonstrate swells of massive sulfide with significant metal grades occurring
along the length of a 1.1 kilometer north-south trending UTEM geophysical
anomaly open to the south.
Al Hariqah Gold Project, Yemen
The Company has now completed 25 of the 45 proposed holes designed to
test the four kilometer long gold zone. Drilling is continuing and samples
have been sent to a laboratory for gold and silver assay.
Al Masna'a Nickel Copper Cobalt Project, Yemen
Cantex has now received results from 464 composite soil samples from the
Al Masna'a project and is awaiting results from a further 263 composite soil
samples. The anomalous nickel results from these samples will be used to
define drill targets along the three conductive zones identified using ground
EM. Soil sampling has shown anomalous nickel values to occur over more than a
five kilometer strike length.
A single historic drill hole tested the area and intersected a one meter
zone of massive sulfide. A 0.39 meter section of this massive sulfide was
assayed and contained 7.6% nickel and 1.2% copper. The massive sulfide is
enveloped by a zone twenty meters wide containing 0.2 to 0.3% nickel.
Once the final composite soil sample results are available one of the two
drills working at Al Hariqah will be relocated to Al Masna'a to commence a
drill program designed to test the geochemical and geophysical anomalies.
This press release has been prepared by Dr. Peter Gregory, a Qualified
Person.
Signed,
Chad Ulansky
Chad Ulansky
President and Geologist.
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release.
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