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Cantex Mine Development Corp. Commences Drilling Nevada Gold Properties

16.12.2020  |  CNW
KELOWNA, Dec. 16, 2020 - Cantex Mine Development Corp. (TSXV: CD) (the "Company") has commenced drilling on its wholly owned Baxter Springs East property in Nevada.

Dr. Chuck Fipke reports

HIGHLIGHTS

  • Drilling has commenced on Baxter Springs East
  • Three additional properties also ready to drill

Baxter Springs East Project

Drilling has now commenced on the Baxter Springs East project in Nevada. Five holes are planned on this project, totalling 975 metres of reverse circulation drilling.

The project, staked to cover a gold-anomalous drainage detected by the Company's regional heavy mineral sampling, lies within the Round Mountain Gold Mine Trend. Subsequent work, including prospecting, geological mapping, soil-talus sampling and a CSAMT (Controlled Source Audio-frequency Magneto-Telluric) geophysical survey identified two drill targets. These drill targets are:

  • A west-northwest trending arsenic – antimony – mercury ± gold anomaly within phyllitic Paleozoic rocks. The CSAMT survey suggests the anomaly may be fault bound, with two vertical, moderately resistive zones at depth possibly reflecting altered metasedimentary rocks
  • A north-northwest trending gold – antimony - bismuth anomaly in an area that the CSAMT survey shows a resistivity high which could be a block of silicified rock or an intrusive

Cantex looks forward to the results of this drilling.

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 including, without limitation; statements about the terms and completion of the proposed sale transaction 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 statement 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 undertakes 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.



Contact
Cantex Mine Development Corp., Tel: +1-250-860-8582; Email: info@cantex.ca

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