Cantex Mine Development Corp V.CD

Nevada - news fast and furious

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Cantex reports 17 drill targets on Nevada gold properties KELOWNA, BC, Dec. 13 /CNW/ - Cantex Mine Development Corp (CD - TSX Venture Exchange) ("Cantex" or the "Company"). The Company is pleased to report that it now has 17 priority drill targets at its 100% owned Nevada gold project. A preliminary report of the CSAMT geophysical survey conducted on the Carico Lake claim group has been received. This survey, conducted over a one-km2 arsenic anomaly, has defined at least three drill targets. The geophysical results suggest that the area of the arsenic anomaly is underlain at depth by Lower Plate carbonaceous limestone. Cantex is most encouraged by these results as Lower Plate rocks host many of the gold deposits presently being mined in Nevada. At the Company's Bruner claim group the results of the summer's work program have been made available. A 750 m by 600 m soil/rock gold anomaly occurs within the southern portion of a broader 1000 m by 600 m mercury anomaly. An air photo interpretation shows the area crosscut by conjugate sets of faults and fractures. Much of this anomalous area has no outcrop. Fifteen drill holes are proposed to evaluate the gold anomaly. In addition to the four described above there are three drill targets at Baxter Springs, one target at Gold Basin, one target at Weepah South and eight drill targets at the Leonard Creek property. Three drill targets are on the Baxter Springs claim group. These targets were defined by geochemical sampling and a CSAMT geophysical survey. The first target is a resistivity high underlying a gold anomaly with coincident bismuth and antimony pathfinder metal anomalies. The second and third targets are zones of possibly altered metasediments below a gold anomaly with coincident arsenic, antimony and mercury pathfinder metal anomalies. The Gold Basin claim group contains one drill target, which is a gold anomaly with coincident silver and arsenic anomalies. At the Weepah South claim group a blind IP anomaly is located in structurally complex Paleozoic sedimentary rocks underlying Tertiary rhyolites. This geophysical anomaly is on strike from the Weepah Gold Mine, which is located three kilometres to the north. At Leonard Creek four drill targets were defined by the CSAMT geophysical survey and four drill targets were identified from surface mapping. The CSAMT survey detected two buried resistivity highs that appear to be structurally controlled that may represent silicification. The survey also delineated a target where a low resistive zone that is interpreted as a rhyolite dyke is intersected by a southwest-northeast structure. The fourth geophysical drill target is a buried, vertical, conductive zone that appears to be structurally controlled. Four drill targets were identified from surface geological mapping. They include areas of siliceous sinter, sulphur mineralization and altered rocks. A power point presentation is being assembled to highlight significant geological, geophysical and geochemical features of the seventeen target areas that require drilling so that a suitable joint venture partner can be found to enable financing of an 8,300-metre drill program. This press release has been prepared by Dr. Peter Gregory, a Qualified Person. Signed, Chad Ulansky Chad Ulansky President and Geologist The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. %SEDAR: 00010333E For further information: Cantex Mine Development Corp., 2600 B Enterprise Way, Kelowna, BC, V1X 7Y5, Tel [phone], Fax [phone], Email [e-mail]