KELOWNA, BC, Jan. 17 /CNW/ - Cantex Mine Development Corp (CD - TSX Venture Exchange) ("Cantex" or the "Company").
Cantex is pleased to report that it has received interest from several large to very large mining companies in entering into joint ventures on several of the Company's exploration projects. The last samples from 77 holes drilled at the Al Hariqah gold deposit are being sent out for analysis and sulphide mineralization has been intersected at the Suwar nickel-copper-cobalt project in Yemen.
1. Nevada Gold - USA
Claims were renewed for the 13 potential new discoveries on six claim
groups in Nevada. Applications to drill three of the claim groups
have been approved by the Nevada government authorities.
Presentations have recently been given to several large to medium
sized companies now mining gold in Nevada with respect to possible
joint ventures with Cantex on the Nevada properties.
2. Al Hariqah Gold - Yemen
259 split core samples from 16 drill holes and 469 percussion chip
samples from 18 drill holes were received in Canada and are being
shipped to Chemex Laboratories for analysis for gold. These samples
are the last samples from a total of 77 drill holes drilled on the
property.
Presentations have been given to several companies possibly
interested in joint venturing with Cantex on Al Hariqah. One very
progressive gold miner visited Al Hariqah in December of 2007 and
another large company is scheduled to visit in January of this year.
3. Suwar Nickel-Copper-Cobalt Massive Sulfide Deposit - Yemen
Core drilling has recommenced on the Suwar nickel-copper-cobalt
massive sulfide deposit. Geologist Sean Crowe, who has formerly
worked for Inco on nickel in Canada, has been hired on a full-time
basis to manage the project. He reports that to date four of 26
planned core holes have been drilled. These have intersected massive
to greater than 30% sulfides over total core intersections of 0.46m,
18.51m and 21.96 meters respectively. The hole containing the
21.96 meter intersection is currently being extended. A replacement
motor for the second drill rig has now arrived in Yemen allowing two
core rigs to be utilized to complete the planned drilling at Suwar.
Several presentations have been given to quality moderate to very
large sized mining companies interested in possible joint ventures.
Two of these visited the Suwar property in December 2007 and another
two are scheduled to visit in January 2008.
Cantex is pleased with the continued intersection of sulphide mineralization at its Suwar project. The Company has presented its Nevada gold and Yemen gold and base metal projects to significant mining companies with the view to attracting joint venture partners with the technical and financial capacities to conduct advanced exploration, feasibility studies and mine development.
This press release has been prepared by Dr. Charles Fipke, 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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