Cantex Mine Development Corp. : Progress Update on Al Hariqah and Yukon Projects
203-1634 Harvey Ave Kelowna, B.C. Canada V1Y 6G2
01/27/2012| 12:14pm US/Eastern
Fax 250.860.1362 www.cantex.ca email@example.com
CANTEX UPDATES PROGRESS ON YUKON AND AL HARIQAH PROJECTS
Kelowna, Canada - 27th January, 2012 - Cantex
Mine Development Corp. (CD : TSXV) ("Cantex" or the
"Company") is pleased to provide an update on the progress on
the Yukon and Al Hariqah projects.
Al Hariqah Gold Project
Company President, Chad Ulansky, and a representative of WCP
Resources recently visited Yemen and are pleased to report
that the exploration license containing the Al Hariqah
project has been renewed under the new Yemeni mining code.
The new license is valid for an initial four year period and
can be renewed for two further four year periods. Cantex is
pleased to have secured this lengthy title for the project as
it will allow time for the extensive drill program required
to assess the scale of the gold mineralization and subsequent
feasibility studies at Al Hariqah.
Yukon Gold Project
In addition, the license has been expanded from its original
71 km2 to 956 km2. The new license
area covers a trend of gold anomalies discovered by Cantex's
regional exploration program which could reflect additional
mineralization similar to that found at Al Hariqah.
A second core drill rig has been mobilized to Al Hariqah to
assist with the ongoing drill program. This drill program is
being overseen by Yemeni geologist Abdul Moain Al Shybani and
Canadian geologist Graham Janson.
During 2011, the Company collected 2,315 heavy mineral
samples from areas underlain by geology prospective for
Carlin-type gold mineralization in the Yukon. C.F. Mineral
Research has commenced heavy mineral processing of all of
these samples. An additional 119 follow up samples were
collected to test the Company's claims along strike from Atac
Resources' Osiris Carlin-type gold discovery. To date 1,965
of the exploration samples have been submitted for assay and
complete results have been received for 722 of these samples.
71 samples are anomalous for gold. Twenty samples are
anomalous in the full suite of key pathfinder elements
characteristic of Carlin-type gold mineralization in the
Yukon. These and forthcoming results will be used to guide
the acquisition of claims and a future exploration
Nevada Gold Projects
Cantex looks forward to the continued progress on its Al
Hariqah and Yukon gold projects.
In Nevada, the Company has conducted an extensive exploration
program. Initially, sampling surveys were conducted over
known gold mines in Nevada to assess their geochemical
signatures. A distinctive suite of pathfinder elements was
found to accompany many of the mines. With this knowledge a
regional geochemical survey was conducted over the
significant gold mine trends in Nevada. Numerous similar
geochemical signatures were found and claims were then
acquired over these areas. Once the lands were staked focused
exploration was undertaken; the anomalies were followed up
with geological mapping, soil sampling, rock sampling,
trenching and geophysics.
Six of the properties contain drill worthy targets. The
Company is currently seeking a joint venture partner to earn
an interest in the project by funding drill testing of these
This press release has been prepared by Chad Ulansky P.Geol,
a Qualified Person. Signed,
For further information: Cantex Mine Development Corp.,
203-1634 Harvey Ave., Kelowna, BC, V1Y 6G2, Tel (250) 860
8582, Fax (250) 860 1362, Email firstname.lastname@example.org
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of this release.