RE: Someone with some credibility Cantex Mine surrenders Sunwar, Wadi Qutabah licences Recent Trades - All 0 today
Kelowna, Canada – 22nd March, 2011 – Cantex Mine Development Corp. (CD : TSXV)
(“Cantex” or “Company”) is pleased to provide an update on the progress of its projects in
Yemen.
Suwar and Wadi Qutabah Copper-Nickel-Cobalt Projects
Final results have been received from the 1,624 line kilometer helicopter-borne geophysical
survey which was flown over both the Suwar and Wadi Qutabah project areas located 57 km
west and 71 km northwest respectively of Sana’a, Yemen.
Vale S.A. geophysists have identified three new conductive anomalies potentially reflecting
massive sulfide mineralization on the Suwar property in addition to the previously identified
zone of copper-nickel-cobalt massive sulfides. At Wadi Qutabah three new conductive zones
have been identified adjacent to the known massive sulfide mineralization.
Drill testing of the first anomaly at Suwar is currently in progress under the supervision of
expatriate geologist Dr. Peter Gregory. Once testing of the three Suwar anomalies is complete
the drill will commence testing of the three anomalies at Wadi Qutabah.
An additional very large (approximately 3km x 4km) conductive anomaly is present at Wadi
Qutabah. Vale geophysists interpret this conductor to be at or near surface and as such this
anomaly will be tested by prospecting and possibly drilling.
Al Hariqah Gold Project
Core drilling continues at Al Hariqah. As the Al Hariqah deposit is locally highly silicified, core
drilling has been slow and 32 of the 162 holes drilled with percussion techniques still remain to
be deepened with core drilling. Over 1,200 meters of core from 19 holes has been logged and is
presently being divided into sample intervals under the guidance of Dr. Peter Gregory. Four
intervals containing visible gold have been identified. Once the samples are loaded into a sea
container it is estimated that they should arrive at the ALS Chemex laboratory in North
Vancouver within 6 to 8 weeks.
Cantex is in the process of acquiring one to two additional large drill rigs for the Al Hariqah
project to accelerate the drilling. In this way prefeasibility and feasibility studies will be fast