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Cantex Confirms Elevated Germanium Results Along Entire Main Zone Strike Length On Its 100% Owned North Rackla Project, Yukon

09.02.2024  |  CNW

KELOWNA, Feb. 9, 2024 - Cantex Mine Development Corp. (TSXV: CD) (OTCQB: CTXDF) (the "Company") is pleased to provide an update on its 100-percent-owned 14,077 hectare North Rackla claim block in the Yukon.

Dr. Charles Fipke reports

Main Zone Germanium Results

455 germanium results have been received for drill core from 61 intercepts drilled from 31 pads spanning the entire 2.35 kilometer drill confirmed strike length of the Main Zone silver-lead-zinc-germanium mineralization at North Rackla.

These results are presented in Table 1.

Table 1. Germanium results from the Main Zone

Pad

Hole

Depth
(m)

Germanium
(grams/tonne)

Number of analyses

MZ03

YKDD19-055

347.40

161

5

MZ04

YKDD19-067

195.40

1595

8

MZ06

YKDD18-016

108.02

595

5

MZ05X

YKDD19-125

283.48

182

5

MZ05X

YKDD19-127

372.50

952

5

MZ05X

YKDD19-139

417.70

438

8

MZ07

YKDD19-025

116.80

307

5

MZ07

YKDD19-027

136.25

1095

8

MZ07X

YKDD20-173

341.65

1024

8

MZ09

YKDD19-032

127.45

475

8

MZ09

YKDD19-037

143.30

525

8

MZ10

YKDD19-033

181.35

702

4

MZ16

YKDD19-097

110.55

2082

8

MZ17B

YKDD19-069

15.35

1287

8

MZ26

YKDD19-058

210.40

284

8

MZ27

YKDD19-083

129.75

1264

8

MZ27

YKDD19-087

165.25

574

8

MZ29

YKDD19-150

189.00

76

7

MZ31

YKDD19-148

111.35

222

4

MZ31

YKDD19-154

299.00

1365

8

MZ31

YKDD21-211

267.35

285

5

MZ32

YKDD19-107

411.80

638

8

MZ32

YKDD19-112

249.75

612

8

MZ32

YKDD19-117

309.50

134

5

MZ32

YKDD21-208

232.80

549

8

MZ33

YKDD19-149

238.25

981

8

MZ33

YKDD20-182

179.15

2

8

MZ33

YKDD23-285

430.65

467

8

MZ33

YKDD23-285

536.95

637

8

MZ34

YKDD19-153

300.45

665

8

MZ34

YKDD19-156

278.10

1244

8

MZ34

YKDD20-157

348.00

421

8

MZ35

YKDD20-166

286.90

399

8

MZ35

YKDD20-168

411.80

568

8

MZ35

YKDD20-170

598.85

1295

8

MZ37B

YKDD19-141

156.45

777

8

MZ39B

YKDD19-121

35.45

457

8

MZ42

YKDD19-143B

195.18

119

8

MZ43

YKDD19-138

172.35

462

8

MZ-43B

YKDD19-142

250.40

156

8

MZ51A

YKDD21-197

235.75

715

8

MZ51A

YKDD21-203

367.00

224

8

MZ52

YKDD22-248

68.00

610

8

MZ52

YKDD22-252

64.20

1326

8

MZ52A

YKDD22-243

186.70

656

8

MZ53A

YKDD22-250

165.25

119

5

MZ53A

YKDD22-253

174.55

1370

8

MZ53A

YKDD22-255

202.00

633

8

MZ53A

YKDD22-257

222.20

1031

8

MZ53A

YKDD22-258

230.60

720

8

MZ53A

YKDD22-260

174.75

857

8

MZ54

YKDD23-279

88.75

398

8

MZ54

YKDD23-281

86.00

300

8

MZ54

YKDD23-282

112.45

404

8

MZ54A

YKDD22-254

151.55

529

8

MZ55

YKDD22-263

70.00

482

8

MZ55

YKDD22-265

91.00

1251

8

MZ55

YKDD22-266

74.80

378

8

MZ55A

YKDD22-267

159.20

382

8

MZ55A

YKDD22-269

185.40

1512

8

MZ55A

YKDD22-271

198.20

496

8

The average of these 61 intercepts is 663 grams per tonne germanium in sphalerite. When combined with the previously analyzed 36 intercepts the average is 654 grams per tonne germanium. The distribution of the new germanium results within the Massive Sulphide project is shown in Map 1.

GZ Zone Germanium Results

At the GZ Zone 57 analyses were received from 9 intercepts which averaged 427 grams per tonne germanium in sphalerite. When combined with the previously received results from five intercepts the average germanium content is 521 grams per tonne.

These results are presented in Table 2 below.

Table 2. Germanium results from the GZ Zone

Pad

Hole

Depth
(m)

Germanium
(grams/tonne)

Number of analyses

GZ01D

YKDD22-222

15.55

613

8

GZ02

YKDD20-176

86.45

426

8

GZ02B

YKDD20-179

66.35

1037

8

GZ02D

YKDD21-210

25.50

104

5

GZ02E

YKDD21-213

40.15

269

5

GZ02.5C

YKDD22-223

77.15

130

8

GZ02.5C

YKDD22-224

43.75

335

5

GZ02.5C

YKDD22-226

55.25

220

5

GZ02.5C

YKDD22-228

62.75

709

5

Germanium Market

Germanium continues to be a metal of prime importance for the west. China, which currently supplies 83% of the world's germanium, is now restricting exports to the United States and western markets. Germanium is a valuable metal, currently selling for US$1.32 per gram (February 7, 2024; Trading Economics; https://tradingeconomics.com/commodity/germanium).

There are few western sources of germanium, the most significant being ore from Teck's Red Dog Mine in Alaska which is processed at the Trail smelter in British Columbia. It is apparent that western nations will need to find additional sources of germanium.

Summary

Cantex's directors are pleased that the Massive Sulphide project contains very high germanium values along the 2,350 metres of strike length tested to date. The average germanium content of sphalerite from the Main Zone is 654 grams per tonne while the average germanium content of the GZ Zone is 521 grams per tonne. The project shows potential to be a much-needed western source of the Critical Metal germanium.

Sample Preparation

The drill holes reported in this press release were drilled using HQ (63.5mm) diamond drill bits. The core was logged, marked up for sampling and then divided into equal halves using a diamond saw on site. One half of the core was left in the original core box. The other half was sampled and placed into sealed bags. Core samples averaged over 3kg in weight.

For germanium analyses a piece of split core approximately 15cm in length containing sphalerite was selected and submitted to CF Mineral Research Ltd. From the selected location a piece of a thin slice of core was mounted in epoxy, polished, carbon coated and mapped using a scanning electron microscope to select sphalerites for analysis. The samples were then sent to UBC Okanagan for germanium analysis using laser ablation inductively coupled plasma mass spectroscopy (LA-ICPMS). A 100 micron spot size was used and NIST610 and 612 reference materials were used as standards.

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

Dr. Charles Fipke, CM
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.



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