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Cantex Commences Drilling of a High-grade Copper Discovery on 100% Owned North Rackla Project, Yukon

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KELOWNA, BC, Aug. 26, 2021 /CNW/ - Cantex Mine Development Corp. (TSXV: CD) (the "Company") has released an update on the work program at its 100-percent-owned 14,077 hectare North Rackla claim block in the Yukon.

Map 1. Showings within the North Rackla Claim Block (CNW Group/Cantex Mine Development Corp.)
Map 1. Showings within the North Rackla Claim Block (CNW Group/Cantex Mine Development Corp.)

Dr. Charles Fipke reports:

A group of five geologists visited the accessible newly discovered gold-copper-silver-lead-zinc showings around the high-grade Main Zone massive sulphides presently being drilled. The locations of these showings are presented on Map 1.

Anomaly G66 contains outstanding sub-cropping massive to disseminated mineralization over an area of 65 metres wide and 410 metres long as mapped by structural geologist Chris Buchanan. This north-south trending zone disappears under talus to the north and under landslide debris to the south.

Geologist Chad Ulansky collected 12 rock samples from 65 metres of width and 150 metres of strike length from the sub-cropping mineralization. These samples averaged 10.45% copper and 32 g/t silver (see release dated June 24, 2021).

This high-grade disseminated to massive mineralization is so impressive it was decided to immediately mobilize a drill to test this showing. Drilling is expected to commence today.

The technical information and results reported here have been reviewed by Mr. Chad Ulansky P.Geol., a Qualified Person under National Instrument 43-101, who is responsible for the technical content of this release.

Signed,

Charles Fipke

Charles Fipke

Chairman

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Information set forth in this news release includes forward-looking statements under applicable securities laws. Forward-looking statements are statements that relate to future, not past, events. In this context, forward-looking statements often address expected future business and financial performance, and often contain words such as "anticipate", "believe", "plan", "estimate", "expect", and "intend", statements that an action or event "may", "might", "could", "should", or "will" be taken or occur, or other similar expressions. All statements, other than statements of historical fact, included herein are forward-looking statements. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, risks identified in the management discussion and analysis section of the Company's interim and most recent annual financial statements or other reports and filings with Canadian securities regulators. Forward looking statements are made based on management's beliefs, estimates and opinions on the date that statements are made and the respective companies undertake no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable securities laws. Investors are cautioned against attributing undue certainty to forward-looking statements.

SOURCE Cantex Mine Development Corp.

Cision
Cision

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/August2021/26/c2858.html

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