Hp Inc. press release
Cantex intersects massive sulfides in Yemen
TSXV - TSX Venture Exchange · Silicon · Aluminium · Hydrogen · Lithium · Titanium · Canada
Suwar Nickel, Copper and Cobalt Project, Yemen
LOWNA, BC, Dec. 12 /CNW/ - Cantex Mine Development Corp (CD - TSX Venture Exchange) ("Cantex" or the "Company"). The Company is pleased to report that core drilling carried out at its 100% owned Suwar nickel, copper and cobalt project in Yemen has intersected 7.44 meters of massive and disseminated sulfides, averaging about 48% sulfide, in drill hole Y05-07. This is the best intersection of massive sulfides the Company has obtained at Suwar to date. Hole Y05-07 is located 700 meters north of Suwar Hill, where drilling has returned the previous best intersections. For comparative purposes the five best intersections at Suwar Hill averaged 10.3 meters and contained an average of 25% sulfide with an average grade of 1.31% Ni and 0.65% Cu. This has an in ground value of US $202 per ton at current metal prices. The sulfides in Y05-07 are visually similar to the sulfides seen at Suwar Hill but are more abundant. Representative samples have been sent for assay and analyses for nickel, copper, cobalt, gold and platinum group elements. The commercial grade massive sulphide intersections of holes Y05-03 and Y05-06, previously reported in the news release of August 26, 2005, are situated in between Y05-07 and Suwar Hill, 300 and 625 meters respectively north of Suwar Hill. The Company is most encouraged by all of these results as they demonstrate that swells of massive sulfide occur along the mineralized zone defined by a 1.1 kilometer north-south trending UTEM geophysical anomaly open to the south. These swells can rapidly add up to significant tonnages. Infill drilling is planned to further delineate the swells along this 1.1 kilometer zone. Over the past 25 years there has been substantial international interest and investment in Yemen's resource sector. Seven international petroleum companies are currently in production and others are actively exploring. In the mineral sector ZincOx Resources recently signed an exploitation contract with the Government of Yemen to mine its Jabali zinc deposit. The Minister of Energy and Minerals and the Governor of Amran have consistently expressed support for Cantex and the Suwar project and recently toured the Suwar project in a televised visit with Cantex directors Charles Fipke and Katherine MacDonald. The Company has found Yemen to be a stable and secure place in which to work and invest its funds. During the 10 years that Cantex has been operating in Yemen the Company and its staff have been treated courteously and with friendliness by the local people and government officials. Other companies operating there have reported similar experiences. The resource sector in Yemen is currently booming with numerous projects in the mineral and petroleum sectors and this is a reflection of the fact that there are not only commercial opportunities to be found but also that it is a safe country in which to work and invest. Because of the trust and longstanding relationships Cantex has built up in Yemen it is well placed to take advantage of existing and new opportunities in the booming resource sector.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
Signed,
Chad Ulansky
Chad Ulansky President and Geologist. %SEDAR: 00010333E