CANTEX PLANS DRILLING FOR GOLD AND SILVER-COPPER IN ADDITION TO COPPER AND MASSIVE SULPHIDE SILVER-LEAD-ZINC-GERMANIUM PROJECTS AT NORTH RACKLA, YUKON, CANADA
Dr. reports
Massive Sulphide Silver-Lead-Zinc-Germanium Project
Cantex's directors continue to be impressed with the scale and grade of the mineralization at the Massive Sulphide project. Drilling in 2024 brought the drill confirmed strike length to 2.65 kilometres and continued to intersect high grade mineralization such as hole YKDD24-315 which intersected 15 metres of 62 g/t silver, 3.49% lead, 19.38% zinc and 117 g/t germanium (see news release of February 12, 2025).
The mineralization is open both along strike and to depth, with the deepest intercept occurring at 700 metres depth where hole YKDD20-163 contained a 23.67 metre true width of 24 g/t silver, 2.31% lead and 5.84% zinc (see news release of December 17, 2020). Drilling this season will focus on further expanding the mineralization.
Cantex is also initiating metallurgical test work on the Massive Sulphide mineralization. The coarse grained, high grade nature of the mineralization suggests that concentration on site may not require flotation. This would eliminate hazardous tailings and minimize the environmental impact of mining at North Rackla.
Copper Project
The Copper Project was discovered by prospecting a soil-talus anomaly on the western side of the North Rackla property. Initial drilling intersected 2.5 metres of 3.93% copper including 1 metre of 7.32% copper (see news release of April 13, 2023). This was followed up with drilling early in the 2024 field season where results included 2.9 metres of 4.54% copper in hole YKDD24-287 (see news release of August 19, 2024).
Late in the 2024 season a ground geophysical induced polarization/conductivity survey was completed over the area. This survey detected several strong conductors which we think represent copper mineralization. Drill testing of these anomalies is planned for this summer.
Regional Focus Anomalies in North Rackla
Cantex's exploration of the North Rackla claim block has identified several other prospective targets worthy of drilling. Structural geologist Chris Buchanan will be on site this summer and will be selecting sites for drilling at the North Gold and G67 gold anomalies and the G14 silver-copper anomaly. Details of these areas are presented below.
Northern Gold Area
The Northern Gold Area consists of a 120m by 150m area where mineralization occurs within a stromatolitic dolomitic unit that is exposed beneath a sandy bedded dolomitic unit. The Company's previous drilling will aid in defining the structural controls of the mineralization to best test the mineralization. Selected rock samples collected from this area are contained in the following table.
G67 Gold Area
Anomaly G67 consists of a gold-arsenic soil-talus anomaly approximately 950 metres long and of irregular width of between 40 and 550m (averaging about 200m) underlain by Proterozoic dolostones. Rock samples from this anomaly have contained up to 39.60 g/t gold. Selected samples are presented in the table below (see release dated June 24, 2021).
G14 Silver-Copper Anomaly
Anomaly G14 is an irregular (990 x 75m) anomaly which contains consistently high silver and copper values. Results (see release of June 24, 2021) from selected rock samples from this anomaly are presented in the table below.
Summary
Cantex looks forward to a productive drill season on its North Rackla project. Work will be undertaken not only on the advanced Massive Sulphide Project but also selected targets within the broader claim block. These include the Copper Project, the G14 silver-copper anomaly, the G66 gold anomaly and the Northern Gold Area.
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 which were in turn placed into larger bags closed with security seals. Prospecting rock samples were also placed into security sealed bags prior to being transported to the ISO 9001:2015 accredited CF Mineral Research Ltd. laboratory in Kelowna, BC.
At CF Minerals the drill core or rock samples were dried prior to crushing to -10 mesh. The samples, which averaged over 3kg, were then mixed prior to splitting off 800g. The 800g splits were pulverized to -200 mesh. A 250g portion of this pulverized material was submitted for multi-element analysis at ALS Chemex in North Vancouver. Quality control procedures included running a barren sand sample through both the crusher and pulveriser between each sample to ensure no inter-sample contamination occurred. Silica blanks were inserted along with certified reference samples. These quality control samples were each inserted approximately every 20 samples.
ALS Chemex in North Vancouver assayed the samples using a four-acid digestion with an ICP-MS finish. The 48 element ME-MS61 technique was used to provide a geochemical signature of the mineralization. Where lead or zinc values exceeded one percent the Pb-OG62 or Zn-OG62 techniques were used. These have upper limits of 20% lead and 30% zinc respectively. Samples with lead and zinc values over these limits were then analyzed by titration methods Pb-VOL70 and Zn-VOL50. Where silver samples exceeded 100 g/t the Ag-OG62 technique was used which has an upper limit of 1,500 g/t.
For the germanium results completed on bulk core, a portion of the remaining pulverized material from the base metal analysis was analyzed by ALS Chemex in North Vancouver, Canada. The pulverized samples were analyzed using a sodium peroxide fusion followed by an ICP Mass Spectrometer finish on a 0.2g pulverised sample.
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.
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