Hp Inc. press release
Cantex Reports Results From Massive Sulphide Intersection
TSXV - TSX Venture Exchange · Silicon · Aluminium · Hydrogen · Lithium · Titanium · Canada
LOWNA, BC, Feb. 20 /CNW/ - Cantex Mine Development Corp (CD - TSX Venture Exchange) ("Cantex" or the "Company").
Suwar Nickel, Copper and Cobalt Project, Yemen
The Company is pleased to report that it has received assay results from a massive and disseminated sulfide intersection in hole Y05-07 previously reported (December 12, 2005) from its 100% owned Suwar project. An 11.33 meter intercept from 122.47 meters was sent for analysis. This 11.33 meter section averaged 1.14% nickel, 0.52% copper and 0.08% cobalt with minor amounts of gold (61 ppb) and silver (1.7 ppm). The in ground value of this intercept at current metal prices is C$ 257.66 per ton. The 11.33 meter intercept contained a higher grade 8.09 meter section from 124.30 meters which averaged 1.50% nickel, 0.67% copper and 0.10% cobalt with minor amounts of gold (82 ppb) and silver (2.4 ppm). At current metal prices the in ground value of this intercept is C$ 335.11 per ton. Hole Y05-07 is an inclined hole (-45 degrees) drilled 700 meters north of Suwar Hill where previous drilling returned the best intersections. For comparative purposes the best five holes averaged 10.3 meters and contained an average grade of 1.31% nickel, 0.65% copper and 0.06% cobalt. At current metal prices the average in ground value of these intersections is C$288.30 per ton. Cantex is encouraged by the results of the drilling at Suwar as they demonstrate swells of massive sulfide with significant metal grades occurring along the length of a 1.1 kilometer north-south trending UTEM geophysical anomaly open to the south.
Al Hariqah Gold Project, Yemen
The Company has now completed 25 of the 45 proposed holes designed to test the four kilometer long gold zone. Drilling is continuing and samples have been sent to a laboratory for gold and silver assay.
Al Masna'a Nickel Copper Cobalt Project, Yemen
Cantex has now received results from 464 composite soil samples from the Al Masna'a project and is awaiting results from a further 263 composite soil samples. The anomalous nickel results from these samples will be used to define drill targets along the three conductive zones identified using ground EM. Soil sampling has shown anomalous nickel values to occur over more than a five kilometer strike length. A single historic drill hole tested the area and intersected a one meter zone of massive sulfide. A 0.39 meter section of this massive sulfide was assayed and contained 7.6% nickel and 1.2% copper. The massive sulfide is enveloped by a zone twenty meters wide containing 0.2 to 0.3% nickel. Once the final composite soil sample results are available one of the two drills working at Al Hariqah will be relocated to Al Masna'a to commence a drill program designed to test the geochemical and geophysical anomalies.
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