Annuncio • Jul 17
Cantex Mine Development Corp. announced that it expects to receive CAD 3 million in funding from Crescat Capital LLC Cantex Mine Development Corp. announced a a non-brokered private placement to raise gross proceeds of up to CAD 3,000,000 on July 17, 2026. The Offering will be comprised of a combination of charity flow through units ("CFT units"), flow through shares ("FT shares") and hard units ("Units") for total gross proceeds of up to CAD 3,000,000. The CFT units will be priced at CAD 0.3625 per unit, with each CFT unit comprised of one flow through share and one-half of a non-flow through warrant. Units will be priced at CAD 0.25 per unit, with each Unit comprised of one common share and one-half of a non-flow through warrant. FT Shares will be priced at CAD 0.30 per FT shares, with no warrants attached to them. Each whole warrant issued in connection with either a CFT unit or a Unit entitles the holder to acquire a non-flow through share at a price of CAD 0.40 for a term of two years. The Company may pay finder's fees in connection with the Offering in accordance with the policies of the TSX Venture Exchange. The company is pleased to announce that Crescat Capital is increasing their investment through this placement. The Offering remains subject to the acceptance of the TSX Venture Exchange. Annuncio • Jun 03
Cantex Mine Development Corp Reports Preliminary Flotation Results for North Rackla Project Cantex Mine Development Corp. had announced highly successful results from preliminary metallurgical flotation testwork on its 100-percent owned 14,077 hectare North Rackla claim block in the Yukon. The company is pursuing multiple options for the sale of lead and zinc from the deposit, which include ore sorting and direct ore shipments which may result in a flowsheet that does not include flotation. The test program, conducted at ALS Kamloops Metallurgy, successfully demonstrated that conventional, industry standard sulphide flotation techniques can effectively separate and produce high-quality, lead and zinc concentrates from both high-grade and low-grade sulphide mineralization as well as a high quality lead concentrate from the near surface oxidized mineralization. The flotation process demonstrated particularly good results for the low-grade sulphide mineralization. All sulphide and oxide composites successfully exceeded the critical commercial benchmark of >45% metal purity for both final lead and zinc concentrates. High-Grade (HG) sulphide composites achieved 85.1% lead recovery (at 53.6% Pb grade) and 80.6% zinc recovery (at a 61.8% Zn grade). Low-Grade (LG) sulphide composites demonstrated exceptional metallurgic resilience, yielding 91.1% lead recovery (at 51.0% Pb grade) and 88.4% zinc recovery (at 51.0% Zn grade). Silver reports predominantly to the lead concentrate, delivering stellar grades of 960 g/t Ag (HG), 532 g/t Ag (LG) and 410 g/t Ag (Ox) representing a high-margin revenue driver. Testwork confirms an optimized primary grind size of 75 microns ensures maximum mineral liberation which allows the use of industry standard plant designs. The flotation process is typically broken down into rougher and cleaner stages. The rougher stage is meant to maximize recovery at the coarsest grind possible, while the cleaner circuit is responsible for achieving a saleable concentrate. Initial rougher testwork on the LG, HG, and Oxide samples evaluated primary grind sizes of 150um and 75um. The finer 75um grind size demonstrated a significant improvement in overall metallurgical performance, showing excellent recovery under standard lead and zinc flotation conditions. Achieving both high recovery and acceptable concentrate grade often requires additional grinding to liberate the valuable minerals, and adjusting the chemistry to cause unwanted particles to be depressed, leaving only the purest lead or zinc containing minerals behind. Cleaner flotation typically involves multiple stages. In the tests completed during this study, regrinding to a particles size between a P80 of 15 µm and a P80 of 25 µm were used for both the lead and zinc concentrates, as well as two cleaner stages were completed for each of the lead and zinc rougher concentrates. Cleaner circuit testing demonstrated high recoveries to lead and zinc concentrates with desirable metal grades. The low-grade sample produced exceptional results. The lead concentrate recovered 91.1% of the lead from the sample and assayed 51% lead. The zinc concentrate recovered 88.4% of the zinc and assayed 51% zinc. The lead concentrate contains substantial silver (532 g/t). The zinc concentrate contains 100 g/t silver and based upon previous testing is expected to contain substantial germanium. Additional work is being conducted on the germanium recovery. Both the lead and zinc concentrates comprised 7.9% of the original sample size. The high-grade sample also produced encouraging results. The lead concentrate recovered 85.1% of the lead from the sample and assayed 53.6% lead. The zinc concentrate recovered 80.6% of the zinc and assayed 61.8% zinc. The lead concentrate contains substantial silver (960 g/t). The zinc concentrate contains 74 g/t silver and based upon previous testing is expected to contain substantial germanium. The lead and zinc concentrates comprised 4.3% and 5.4% of the original sample weight respectively. Consistent with typical near-surface oxide mineralization processed through a standard sulphide circuit, overall zinc recovery was poor, prompting metallurgical focus to pivot exclusively toward lead and silver recovery. Cleaner testwork successfully proved that a high-quality, saleable lead concentrate grading 53.0% Pb and 410 g/t Ag can be produced from this material. It also demonstrates that the process also results in substantial reduction of mass, with the concentrate comprising only 2.1% of the original sample weight. Though oxide mineralization represents a minor component of the deposit, it is promising that it adds value, as prior to this study the surficial oxides were regarded as waste. The second cleaner flotation testing on all composites yielded highly encouraging commercial products: High-Grade Composite (KM7852-10): Generated a lead concentrate grading 53.6% Pb and 960 g/t Ag, alongside a premium zinc concentrate grading 61.8% Zn. A mass pull of just 4.3% for lead and 5.4% for zinc indicates highly favorable, low-volume shipping economics. Low-Grade Composite (KM7852-08): Proved the chemical resilience of the ore, recovering 91.1% of the lead to a 51.0% Pb concentrate, and 88.4% of the zinc to a 51.0% Zn concentrate. Oxide Material (KM7852-09): Successfully proved that a high-quality, saleable lead concentrate grading 53.0% Pb and 410 g/t Ag can be produced. This confirms that the near-surface oxide cap could be commercialized as a valuable starter feed rather than treated as waste rock. Total mass pull is small, ranging from 2.1% for the lead concentrate for the oxide mineralization to 7.9% for each of the low-grade lead and zinc concentrates. This means one would only ship 2.1 tons of lead concentrate for every 100 tons of oxide mineralization mined, or 7.9 tons of each the lead and zinc concentrates for 100 tons mined of the low-grade mineralization. The high-grade lead concentrate captured 9.6% of the available zinc. Future flowsheet fine-tuning will focus on having this zinc report to the zinc concentrate, providing a pathway to further boost overall zinc recovery and optimize concentrate terms. The preliminary metallurgical flotation testwork confirms that conventional processing achieves premium, highly saleable products. Annuncio • Apr 24
Cantex Mine Development Corp Provides Update On Metallurgical Test Work Program Cantex Mine Development Corp. started the metallurgical program in January 2026, which was designed to evaluate pre-concentration by X-Ray Transmission sorting, mineralogy, comminution characteristics, etc. for three composites that cover different mineralization types in the deposit. The three composites were selected to represent the range of mineralization styles seen across both the strike length and depth extent of the mineralization. The composites consist of half split HQ drill core. Oxide Composite. High Grade Sulphide Composite. Low Grade Sulphide Composite. The testwork program was split into 2 components: sorting test work to identify opportunities to pre-concentrate mill feed, conducted at Base Met Labs, and the conventional processing testwork conducted at ALS Kamloops Metallurgy, an independent metallurgical laboratory specializing in base and precious metal process development. Sorting amenability was carried out on a sample of 100 pieces of drill core which covered a range of lead, zinc, silver, and sulphur grades and included samples from all 3 zone types currently under testing. The results confirmed excellent differentiation between mineralization-rich rock and barren host rock, achieving strong pre-concentration performance across the tested size fractions. Core samples from multiple mineralized zones were subjected to sensor-based sorting using X-ray transmission (XRT) technology. XRT is a technology that differentiates rocks based on atomic density. As such, it is able to discern dense silver-lead-zinc-germanium bearing rocks from lighter unmineralized country rock. In this test, the individual pieces of drill core measured approximately 10cm in length. The curve demonstrates that 95.0%, 97.8%, and 97.9% of the silver, zinc, and lead report to a concentrate stream containing 70% of the mass. Annuncio • Jan 29
Cantex Mine Development Corp. Commences Metallurgical Study, Plan for 2026 Drilling At North Rackla Projects in Yukon, Canada Cantex Mine Development Corp. provided a summary of its 2025 program on its 100%-owned 14,077 hectare North Rackla claim block in the Yukon. Cantex has commenced a metallurgical test work program on its Massive Sulphide project. The Company has engaged JDS Energy and Mining Inc. to manage the metallurgical testwork program under the supervision of senior metallurgist Shane Tad Crowie, PEng. Drilling at the Massive Sulphide project continues to extend the strike length of the mineralization. Just before the end of the 2025 drill season the first of a series of holes was completed to test a 150m step out of the mineralization to the northeast. This hole, testing the shallow portion of the strike, successfully intersected sulphide mineralization. Samples on the mineralization have been submitted to test their germanium content. Additional deeper drilling from this pad is planned for the start of the upcoming season. The drill has been winterized and remains on the pad for this work. Results for this drilling are awaited. 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. 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. Drilling in 2025 was designed to test for significant strike extensions to the previously discovered mineralization. Several anomalies detected by a ground geophysical induced polarization/conductivity survey were tested. Significant copper mineralization has not yet been intersected. Regional Anomalies in North Rackla: During the 2025 field season work was conducted on several other areas within the claim block. This included the start to drill testing at the B43 base metal anomaly. Grab samples previously collected while prospecting the B43 anomaly. Three holes were drilled before the end of the season. Results for these holes are awaited. The 2026 drill program will have two main priorities. The first is to continue extending the strike length of the Main Zone mineralization. The second is to test a number of new targets within the North Rackla claim block. Rock samples collected at surface have shown elevated gold, silver, copper, lead and zinc values. A new, lightweight, heli-portable drill rig is being constructed to be used for the regional target testing. This drill is to be ready for the start of the drill season. 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. The high silver price is significant for Main Zone, which contains up to 232 g/t silver and GZ Zone, which contains up to 363 g/t silver. Several areas within Cantex's large 15km by 15km North Rackla claim block contain highly anomalous surficial gold mineralization. It is hoped that Cantex will be able to extend this mineralization to depth with the newly constructed drill. Sample Preparation, QA and QC: The rock and soil–talus samples are sent to C.F. Mineral Research Ltd., an ISO 9001 accredited laboratory owned by Dr. Charles Fipke, where they are pulverized and prepared for analysis including the insertion of standards. ALS Chemex in Vancouver analyzed 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, zinc or copper values exceeded one percent the Pb–OG62, Zn–OG62 or Cu–OG62 techniques were used. These have upper limits of 20% lead, 30% zinc and 50% copper, 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. Where silver values exceeded 1,500 g/t the Ag-GRA22 technique was used. Annuncio • Jan 13
Cantex Mine Development Corp., Annual General Meeting, Mar 17, 2026 Cantex Mine Development Corp., Annual General Meeting, Mar 17, 2026. New Risk • Dec 26
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -CA$3.5m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$3.5m free cash flow). Share price has been highly volatile over the past 3 months (23% average weekly change). Earnings have declined by 9.7% per year over the past 5 years. Revenue is less than US$1m. Minor Risks Shareholders have been diluted in the past year (21% increase in shares outstanding). Market cap is less than US$100m (CA$25.4m market cap, or US$18.6m). New Risk • Dec 08
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Canadian stocks, typically moving 23% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (23% average weekly change). Negative equity (-CA$185k). Earnings have declined by 13% per year over the past 5 years. Revenue is less than US$1m. Minor Risks Shareholders have been diluted in the past year (25% increase in shares outstanding). Market cap is less than US$100m (CA$16.7m market cap, or US$12.0m). New Risk • Nov 30
New major risk - Negative shareholders equity The company has negative equity. Total equity: -CA$185k This is considered a major risk. Being in negative equity means that the company's liabilities exceed its assets, meaning it owes more to creditors than it has in owned assets. While this doesn't mean the company is about to collapse, in the long-term, this is unsustainable. The company may have issues meeting financial obligations, is at risk of becoming insolvent and may have difficulty raising capital, especially more debt, if needed. Currently, the following risks have been identified for the company: Major Risks Negative equity (-CA$185k). Earnings have declined by 13% per year over the past 5 years. Revenue is less than US$1m. Minor Risks Shareholders have been diluted in the past year (25% increase in shares outstanding). Market cap is less than US$100m (CA$27.8m market cap, or US$19.9m). New Risk • Aug 17
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 33% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 0.8% per year over the past 5 years. Shareholders have been substantially diluted in the past year (33% increase in shares outstanding). Revenue is less than US$1m. Minor Risk Market cap is less than US$100m (CA$28.0m market cap, or US$20.2m). Annuncio • Aug 16
Cantex Mine Development Corp. announced that it has received CAD 5.282392 million in funding from 0974052 BC Ltd., Crescat Capital LLC On August 15, 2025, Cantex Mine Development Corp. closed the transaction. The company issued 1,64,93,333 hard dollar units at a price CAD 0.21 per share for gross proceeds CAD 3,463,599.93. The company issued aggregate of 21,333,332 charity flow through units at CAD 0.21 per CFT Unit and 5,731,372 hard units at CAD 0.14 per Unit for total gross proceeds of CAD 5,282,391.80. The Company paid CAD 151,969 in finders fees and issued 1,067,996 non-transferable finder's warrants to certain finders on this closing for their assistance in identifying back-end purchasers for the charity flow through offering and for identifying purchasers of Units. Annuncio • Jul 12
Cantex Mine Development Corp. announced that it expects to receive CAD 3 million in funding from 0974052 BC Ltd. Cantex Mine Development Corp announced a non-brokered private placement to raise gross proceeds of up to CAD 3,000,000 on July 11, 2025. The Offering will be comprised of a combination of charity flow through units ("CFT units") and hard units ("Units") for total gross proceeds of up to CAD 3,000,000. The CFT units will be priced at CAD 0.21 per unit, with each CFT unit comprised of one flow through share and one non-flow through warrant. Units will be priced at CAD 0.14 per unit, with each Unit comprised of one common share and one nonflow through warrant. Each whole warrant issued in connection with either a CFT unit or a Unit entitles the holder to acquire a non-flow through share at a price of CAD 0.21 for a term of three years. The transaction will include 0974052 B.C. Ltd. ("BC Ltd"), a company over which Charles Fipke, will be subscribing for 3,571,429 Units for a total subscription price of CAD 500,000. The Company may pay finder's fees in connection with the Offering in accordance with the policies of the TSX Venture Exchange. The Offering remains subject to the acceptance of the TSX Venture Exchange. New Risk • Jun 26
New major risk - Revenue and earnings growth Earnings have declined by 1.1% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$5.0m free cash flow). Earnings have declined by 1.1% per year over the past 5 years. Revenue is less than US$1m. Minor Risk Market cap is less than US$100m (CA$22.9m market cap, or US$16.8m). Annuncio • Apr 24
Cantex Mine Development Corp. Plans Drilling for Gold and Silver-Lead-Zinc-Germanium Projects at North Rackla, Yukon, Canada Cantex Mine Development Corp. provided the exploration plans for 2025 on its 100%-owned 14,077 hectare North Rackla claim block in the Yukon. 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. 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. 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. 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. G14 Silver-Copper Anomaly G14 is an irregular (990 x 75m) anomaly which contains consistently high silver and copper values. Results from selected rock samples from this anomaly are presented in the table below. Sample Gold Silver Copper Lead Zinc, g/t g/t g/t gold. Samples from this anomaly have contain up to 39.60 g /t gold. Annuncio • Apr 15
Cantex Mine Development Corp. Provides an Update on Its 100% Owned 14,077 Hectare North Rackla Claim Block in the Yukon Cantex Mine Development Corp. provided an update on its 100%-owned 14,077 hectare North Rackla claim block in the Yukon. Cantex's directors are pleased to provide a summary of the germanium results received from the Company's Massive Sulphide project in the Yukon, Canada. Since its discovery, the Massive Sulphide project contains silver, lead and zinc values amongst the highest found in North America. More recently the presence of the key critical element germanium in elevated levels has been detected. As first reported on February 9th of 2023, laser ablation inductively coupled mass spectroscopy (LA-ICPMS) studies of zinc sulphide grains (sphalerite) from the project identified significant enrichment of the Critical Element germanium. Additional LA-ICPMS analyses of sphalerite confirmed the high germanium contents over 2.35 kilometres (1.5 miles) of drill tested strike length at the Main Zone and also at the adjacent GZ Zone. At the Main Zone 595 sphalerite analyses from 97 intercepts were tested and these intercepts averaged 654 grams per ton of germanium. As expected, there is a strong correlation between germanium content and zinc grade, as it is the sphalerite (zinc sulphide) grains that contain germanium. Core with higher zinc content typically has higher germanium content. The presence of galena, or other non-ore minerals in the core dilutes the sphalerite, and thus decreases the germanium content. However, in a sphalerite concentrate, the germanium grade will approach that found in the LA-ICPMS analyses: 654 g/ton in the Main Zone and 521 g/ton in the GZ Zone. This bulk analytical method does have the advantage of being quicker, less costly, and provides a better average of thousands of sphalerite grains in a single analysis. For the 2024 drill program Cantex completed bulk germanium analyses on all mineralized intercepts. This work has confirmed the presence of high grade silver-lead-zinc-germanium values over a drill confirmed strike length of 2.65 kilometres (1.65 miles). Germanium Market: In recent times germanium has entered the global spotlight. This is due to the combination of its importance in the manufacture of several modern technologies, some of which have military applications, and the lack of a significant western germanium source. 76% of the world's germanium resources are located in Russia and China. 82% of refined germanium production is in China. The 48 element ME-MS61 technique was used to provide a geochemical signature of the mineralization. Where lead or zinc values exceeded one% 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. The over limit analyses contributed to delays in receiving final assay results. For germanium analyses completed on individual sphalerite grains a piece of split core approximately 15cm in length containing sphalerite was selected and submitted to CF Mineral Research Ltd. From the selected location a piece of a thin slice of core was mounted in epoxy, polished, carbon coated and mapped using a scanning electronic microscope to select sphalerites for analysis. The samples were then sent to the University of British Columbia Okanagan for germanium analysis using laser ablation inductively coupled plasma mass spectroscopy (LA-ICPMS). A 100 micron spot size was used and NIST610 and 612 reference materials were used as standards. A 100 micron spot size were used as standards. The over NIST610 and 612 Reference materials were used as standards. Annuncio • Feb 13
Cantex Mine Development Corp. Receives Germanium Results of Up to 180g/t from Drilling at the Silver-Lead-Zinc North Rackla Project, Yukon, Canada Cantex Mine Development Corp. provided an update on its 100%-owned 14,077 hectare North Rackla claim block in the Yukon. Cantex's directors are pleased to report bulk germanium results from the 2024 drilling program. Germanium analyses were completed on all intercepts with elevated silver-lead-zinc analyses. The 180 g/t germanium was in a 2.53 metre intercept in hole YKDD24-320 which also contained 93 g/t silver, 11.43% lead and 32.68% zinc. It was within a larger 6.09 metre mineralized zone which contained 98 g/t germanium, 53 g/t silver, 6.01% lead and 19.47% zinc. Hole YKDD24-315 had a high-grade intercept of 9 metres of 171 g/t germanium with 96 g/t silver, 5.27% lead and 28.81% zinc. This was within a 15 metre interval containing 117 g/t germanium., 62 g/t silver, 3.49% lead and 19.38% zinc. These results, along with other highlights from the 2024 drilling are presented in Table 1. Germanium Market: After announcing in August 2023 that it would be restricting exports of germanium, the Chinese government announced in December of 2024 that it would be limiting all exports of germanium to the US. As China produces and refines the majority of the world's germanium this leaves the West in need of alternative sources to reliably supply this critical metal, which is used in computer chips, solar panels, fiber optics and military applications such as night vision optics, etc. This western source has yet to be developed. 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% 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. The over limit analyses contributed to delays in receiving final assay results. For the germanium results presented in this release a separate split of the remaining pulverized material was sent to 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. Annuncio • Jan 21
Cantex Mine Development Corp. Provide Update on its 100% Owned 14,077 Hectare North Rackla Claim Block in the Yukon, Canada CantexMine Development Corp. provided an update on its 100% owned 14,077 hectare North Rackla claim block in the Yukon, Canada. Main Zone Drilling: Cantex received the base metal results from the remaining holes at its 2024 drill program at North Rackla. The drilling at the Massive Sulphide Zone focused on the Discovery Sector and successfully extended the strike length of the Main Zone to 2.65 kilometres, an increase of 300 metres this season. The mineralization remains open both along strike and to depth. Results from twenty-six holes completed on the Discovery Sector of the Main Zone have been received. Highlights from these holes include a 9 metre interval of 34.08% combined lead-zinc and 96 g/t silver within a broader interval of 15 metres of 22.87% combined lead-zinc and 62 g/t silver in hole YKDD24-315. Hole YKDD24-312 intersected a 2 metre interval of 23.27% lead-zinc and 48 g/t silver within a lengthy 25.04 metre intercept of 4.62% combined lead-zinc and 18 g/t silver. Significantly, both of these holes were drilled from Pad MZ60, the furthest NE pad from which drilling has been undertaken. The drilling in the northeastern portion of the Main Zone contains elevated copper values suggesting that this could be the central feeder zone of the mineralization. For example, hole YKDD24-313, drilled from pad MZ58 intersected a zone of mineralization containing 0.68% copper. If in fact this area near the northeast end of drilling is the centre of the deposit, then the strike length could possibly be almost twice the current drill-defined length. The deposit also remains open at depth where 23.67 metres of sulphides including massive sulphides were intersected at 700 metres depth. Hole YKDD24-317 was lost due to ground conditions and was re-drilled as hole YKDD24-317B. These exceptionally high grade and lengthy intercepts continue to demonstrate the significant size and grade of the Main Zone mineralization. As previously demonstrated the Main Zone is also significantly enriched in germanium. The germanium results for these intervals are awaited and will be reported when received. Summary: Cantex's directors are pleased that drilling at the Massive Sulphide project continues to expand the strike length of the exceptionally high-grade mineralization. Beyond the outstanding silver-lead-zinc grades the mineralization also contains elevated germanium. China has now banned germanium exports to the US resulting in a substantial increase in the germanium price (currently trading at USD 2.28 per gram). As China provides the vast majority of the global supply of germanium a western source is needed for the manufacture of a number of modern technologies including computer chips, solar panels, LED lights and night vision goggles. Canadian base metal projects, including North Rackla, have sufficient quantities of germanium to meet the desperate need of the USA. Sample Preparation: The drill holes reported in this 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. Core samples averaged over 3kg in weight. The core samples are placed into larger bags closed with security seals prior to being transported to the ISO 9001 certified CF Mineral Research Ltd. laboratory in Kelowna, BC. At CF Minerals the samples were dried prior to crushing to -10 mesh. The crushed material from a sample was then mixed prior to splitting off 800g. The 800g splits were pulverized to -200 mesh and a 250g split was sent for assay. 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 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. For samples where lead or zinc values exceeded 1% 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. Annuncio • Jan 15
Cantex Mine Development Corp., Annual General Meeting, Mar 17, 2025 Cantex Mine Development Corp., Annual General Meeting, Mar 17, 2025. Annuncio • Dec 24
Cantex Mine Development Corp. announced that it expects to receive CAD 0.6 million in funding Cantex Mine Development Corp. announced a non-brokered private placement to issue 4,000,000 common flowthrough shares at an issue price of CAD 0.15 per share for the gross proceeds of CAD 600,000 on December 23, 2024. The Company was charged CAD 36,000 in finders fees in connection with the Offering. The Company will also be issuing 200,000 finders warrants; each whole warrant entitles the holder to acquire one common share of the Company at a price of CAD 0.15 for a term of two years from closing. The securities issued in the Offering are subject to a four month hold period, expiring on April 24, 2025. The Offering remains subject to the acceptance of the TSX Venture Exchange. New Risk • Nov 28
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -CA$5.3m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$5.3m free cash flow). Revenue is less than US$1m. Market cap is less than US$10m (CA$13.3m market cap, or US$9.53m). Minor Risks Share price has been volatile over the past 3 months (13% average weekly change). Shareholders have been diluted in the past year (22% increase in shares outstanding). Annuncio • Nov 28
Cantex Continues to Intersect World-Class Silver-Lead-Zinc +/- Germanium Grades and Extends Its Strike Length by 300 Metres At Its 100% Owned North Rackla Project, ukon Cantex Mine Development Corp. provided an update on its 100% owned 14,077 hectare North Rackla claim block in the Yukon. The drilling at the Massive Sulphide Zone focused on the Discovery Sector, continuing to extend the strike length of the mineralization. The drill-confirmed strike length is now 2.65 kilometres, an increase of 300 metres this season. The mineralization remains open both along strike and to depth. Results from sixteen holes completed on the Discovery Sector of the Main Zone have been received and these results are presented in Table 1 below. Highlights from these holes include a 2.4 metre interval of 25.82% combined lead-zinc within a broader interval of 13.63 metres of 7.25% combined lead-zinc in hole YKDD24-302B. Hole YKDD24-303 intersected a 2.1 metre interval of 27.63% lead-z Inc. within a broader 6.35 metre intercept of 13.91% combined lead-zinc. An 18.85 metre interval of mineralization was intersected in hole YKDD24 the drilling in the northeastern portion of the Main Zone contains elevated copper values suggesting that this could be the central feeder zone of the mineralization. If in fact this area in the northeast corner of drilling is the centre of the deposit, then the strike length could possibly be doubled. These notable intercepts continue to demonstrate the significant size and grade of the Main Zone mineralization. As previously demonstrated the Main Zone is also significantly enriched in germanium. Thegerium results for these intervals are awaited and will be reported when received. New Risk • Oct 27
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: CA$12.1m (US$8.69m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Revenue is less than US$1m. Market cap is less than US$10m (CA$12.1m market cap, or US$8.69m). Minor Risks Share price has been volatile over the past 3 months (14% average weekly change). Shareholders have been diluted in the past year (36% increase in shares outstanding). Annuncio • Oct 01
Cantex Receives Exceedingly High Germanium Results from Drilling At the Main Zone At Its 100% Owned Silver-Lead-Zinc North Rackla Project, Yukon Cantex Mine Development Corp. provided an update on its 100% -owned 14,077 hectare North Rackla claim block in the Yukon. Cantex's directors are pleased to report the bulk germanium results from a selection of intercepts drilled in 2023. Germanium analyses were completed on intercepts from five holes. The drill holes reported in this 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 prior to being transported to the ISO 9001:2015 accredited CF Mineral Research Ltd. laboratory in Kelowna, BC. At CF Minerals the drill core was 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 multielement 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 1% 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. The over limit analyses contributed to delays in receiving final assay results. For the germanium results presented in this release a separate split of the remaining pulverized material was sent to ALS Chemex in North Vancouver, Canada. The pulverized samples were analyzed using the ME-MS89L technique which involves a sodium peroxide fusion followed by an ICP-MS finish on a 0.2g sample. Annuncio • Aug 19
Cantex Announces Resumption of Drilling and Reports Outstanding Copper and Silver Results on Its Copper Project Located 10Km West of Its Silver-Lead-Zinc-Germanium Deposit on Its 100% Owned North Rackla Claims in the Yukon Cantex Mine Development Corp. announced outstandingly high copper assays and silver results from its 2024 drill program. Copper Project Drilling: Cantex has now received assays and geochemical results from five holes drilled at the Copper Project on the western side of the Company's North Rackla property. Significant copper and silver mineralization was encountered in four holes. Holes YKDD24-287, 288 and 289 all intersected significant copper mineralization. This includes 2.9 metres of 4.54% copper in hole YKDD24-287 and 13 metres of 0.86% copper in hole YK DD24-288. When the core was inspected on site during drilling it became apparent that the discovery has the potential for size and significant grade. To assist in targeting future drilling a ground Induced Polarization - Conductivity geophysical survey and ground magnetic survey was completed over the discovery area. The style of mineralization intersected in drilling looks to be suitable for detection using these geophysical techniques. The final results and interpretation from this survey when complete will assist in targeting additional holes planned to be drilled this year. Prior to temporarily suspending work as requested by the First Nation of Na-Cho Nyak Dun ("FNNND"), nine holes were completed on the Main Zone of the Massive Sulphide project at North Rackla. The results of these holes areawaited and will be released when received. North Rackla Drilling Resuming: As announced on July 23, 2024 Cantex temporarily halted work on its North Rackla project to allow the FNNND to prioritize their resources in dealing with the heap leach pad failure at Victoria Gold's project, 120km from the North Rackla property. After a month pause in work Cantex will have complied with the request of the FNNND to temporarily suspend exploration activities and will be recommencing drilling on the North Rackla claims. Over 60,000 meters of drilling has defined high grade silver-lead-zinc-germanium mineralization over 2.3 kilometers of strike length and 700 meters depth. The mineralization remains open along strike and to depth. The Company is led by Dr. Charles Fipke, C.M., the founder of Ekati, Canada's first diamond mine. 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. New Risk • Jul 29
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Canadian stocks, typically moving 12% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Revenue is less than US$1m. Market cap is less than US$10m (CA$12.7m market cap, or US$9.13m). Minor Risks Share price has been volatile over the past 3 months (12% average weekly change). Shareholders have been diluted in the past year (27% increase in shares outstanding). New Risk • Jul 25
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: CA$13.2m (US$9.58m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Revenue is less than US$1m. Market cap is less than US$10m (CA$13.2m market cap, or US$9.58m). Minor Risk Shareholders have been diluted in the past year (27% increase in shares outstanding). Annuncio • Jul 18
Cantex Mine Development Corp. announced that it has received CAD 1.45 million in funding from Crescat Portfolio Management LLC and 0974052 BC Ltd. On June 17, 2024, Cantex Mine Development Corp. closed the transaction. The company announced that it has issued 12,083,331 common non flow through shares were issued at CAD 0.12 per share for the gross proceeds of CAD 1,449,999.72. The transaction includes participation from our previously announced strategic partner Crescat Capital LLC and 0974052 B.C. Ltd subscribed for 8,333,333 Shares for a total subscription price of CAD 0.12 per share for the gross proceeds of CAD 999,999.96 and Crescat Capital LLC for 99,999.96 shares for CAD 99,999.96. The Company was charged CAD 24,500 in finders fees in connection with the Offering. New Risk • Jul 01
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -CA$4.2m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$4.2m free cash flow). Revenue is less than US$1m. Minor Risks Shareholders have been diluted in the past year (27% increase in shares outstanding). Market cap is less than US$100m (CA$15.5m market cap, or US$11.3m). Annuncio • Jun 13
Cantex Intersects Copper Mineralization in First Three Holes on Its North Rackla Copper-Gold, Germanium and Base Metal Project in the Yukon Cantex Mine Development Corp. announced that it has intersected copper mineralization in its first three holes drilled at its North Rackla project, Yukon. Since drilling first commenced on June 3, 2024 three diamond drill holes have now been completed at the Copper Project on the western side of the Company's North Rackla property. Previous drilling on this project intersected 2.5 metres of 3.93% copper including 1 metre of 7.32% copper. Hole YKDD24-287 was drilled at a -45 degree dip and 13 degree azimuth. It intersected 1.8 metres of an estimated 8% chalcopyrite contained within a quartz carbonate breccia from 7.1 metres depth. Hole YKDD24-288 was drilled from the same pad at a -45 degree dip at an azimuth of 35 degrees. This hole intersected 17 metres of an estimated 2% chalcopyrite from 9.5 metres depth. Hole YKDD24-289 intersected 5.05 metres of an estimated 2% chalcopyrite from 3.3 metres depth. The hole was from the same pad, at a dip of -45 degrees and an azimuth of 305 degrees. Following logging the mineralized portions of the holes are split. One half of the split core is in the process of being submitted to laboratories for sample preparation and analysis for copper, gold and associated elements. Results will be reported as soon as available. Annuncio • May 15
Cantex Mine Development Corp. Intersects Up to 25.07% Lead-Zinc with 72G/T Silver At Its 100% Owned North Rackla Project, Yukon and Will Commence Drilling Its Copper Project Cantex Mine Development Corp. provided an update on its 100% owned 14,077 hectare North Rackla claim block in the Yukon. the company reported results from the 5 drill holes completed at the Discovery and Central Sectors of the Main Zone at the North Rackla project. All four holes drilled at the Discovery Sector intersected mineralization. These holes, drilled from pad MZ54 include a 8.35 metre interval on hole YKDD23-279 which contained 24.5g/t silver, 7.68% lead and 5.05% zinc. The final hole of the 2023 season was drilled from pad MZ33 in the Central Sector. It consistently intersected mineralization between 429.25 and 538.60 metres. High grade intercepts include 1.40 metres of 19.4 g/t silver, 6.43% lead and 24.15% zinc and 2.85 metres of 72.10 g/t silver, 8.77% lead and 16.30% zinc. The intervals above are being sent for germanium analysis. The results will be reported when received. Three holes drilled at the Extension Sector did not intersect significant mineralization. The Company announced the 2024 drill plan for the North Rackla project. Drilling with one drill will commence in early June at the Copper Project, on the western side of the claim block where previous drilling intersected 2.5 metres of 3.93% copper including 1 metre of 7.32% copper (see news release of April 13, 2023). The location of this drilling is shown in Figure 2. A second drill will be added in mid June, which will commence testing in the northeast of the Discovery Sector of the Main Zone for germanium-silver-lead-zinc where copper values are increasing. The high copper values suggest that this could be the centre of the deposit and thus the strike length could be nearly double the current 2.35km length. 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 prior to being transported to CF Mineral Research Ltd. in Kelowna, BC. At CF Minerals the drill core was 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 and a 250g split was sent for assay. 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 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. 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. Recent Insider Transactions • Apr 27
Chairman of the Board recently bought CA$187k worth of stock On the 24th of April, Charles Fipke bought around 1m shares on-market at roughly CA$0.19 per share. This transaction amounted to 3.4% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Charles' only on-market trade for the last 12 months. Annuncio • Mar 14
Cantex Mine Development Corp. Provides Update on its 100% Owned 14,077 Hectare North Rackla Claim Block in Yukon Cantex Mine Development Corp. provided an update on its 100% owned 14,077 hectare North Rackla claim block in the Yukon. Bulk Germanium Results: Cantex's directors are pleased to now have a method that can reliably be used to determine the bulk concentration of germanium within drill core. Determining the bulk concentration of germanium within drill core has the advantage of providing an average germanium content of the sphalerite and other minerals in the sample, as well as being more cost effective and possible to complete in a more timely fashion. Main and GZ Zone Results: Cantex has undertaken an evaluation of thirty samples from the Main and GZ Zones in order to identify a technique suitable for bulk analysis of germanium. These samples were selected to represent the full spectrum of grades seen on the project to best assess the techniques. Five different analytical techniques were evaluated. Of the five methods evaluated three techniques produced results with tight precision. The newly received germanium results from these three techniques. It also contains the corresponding silver-lead-zinc grades from these samples. The results show that, as expected, there is strong correlation between germanium content and zinc grade. This correlation was expected as it is the zinc sulphide mineral (sphalerite) that contains the germanium. Analyses of sphalerite grains from 97 intercepts within the Main Zone average 654 grams per tonne. Sphalerite grains from 14 intercepts within the GZ Zone average 521 grams per tonne. Thus, higher grade zinc mineralization is expected to have substantial germanium content. It is important to note that even the higher germanium values will be further upgraded prior to being sent to a smelter. The mineralization contains other minerals beyond sphalerite and galena which will dilute the germanium content. Many of these gangue minerals would be removed from the mineralization prior to it being sent to a smelter, increasing the germanium, silver, lead and zinc content. Summary: Cantex's directors are pleased to have a reliable, cost effective and timely method to establish the bulk concentration of germanium within drill core. The Company intends to continue analyzing its upcoming drill core for germanium using this bulk technique. 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 prior to being transported to CF Mineral Research Ltd. in Kelowna, BC. At CF Minerals the drill core was 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 multielement 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 1% 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. The over limit analyses contributed to delays in receiving final assay results. For the germanium results presented in this release a separate split of the remaining pulverized material was sent for analysis. Three labs, all of which are ISO/IEC 17025:2017 accredited, provided the germanium results reported in this release. At ALS Chemex in Brisbane, Australia the Ge-MS66 technique was used. It involved a digestion using nitric and hydrofluoric acids with an orthophosphoric acid leach and an ICP-MS finish on a 0.5g sample. At ALS Chemex in North Vancouver, Canada the ME-MS89L technique was used. The samples were digested using a sodium peroxide fusion followed by an ICP-MS finish on a 0.2g sample. At ActLabs in Ancaster, Canada the Ultratrace 7 package was used. It involves a sodium peroxide fusion followed by an ICP-MS finish on a 1g sample. Annuncio • Feb 10
Cantex Mine Development Corp. Confirms Elevated Germanium Results Along Entire Main Zone Strike Length on Its 100% Owned North Rackla Project, Yukon Cantex Mine Development Corp. provided an update on its 100% owned 14,077 hectare North Rackla claim block in the Yukon. 455 germanium results have been received for drill core from 61 intercepts drilled from 31 pads spanning the entire 2.35 kilometer drill confirmed strike length of the Main Zone silver-lead-zinc-germanium mineralization at North Rackla. The average of these 61 intercepts is 663 grams per tonne germanium in sphalerite. When combined with the previously analyzed 36 intercepts the average is 654 grams per tonne germanium. At the GZ Zone 57 analyses were received from 9 intercepts which averaged 427 grams per tonne germanium in sphalerite. When combined with the previously received results from five intercepts the average germanium content is 521 grams per tonne. Germanium continues to be a metal of prime importance for the west. China, which currently supplies 83% of the world's germanium, is now restricting exports to the United States and western markets. Cantex's directors are pleased that the Massive Sulphide project contains very high germanium values along the 2,350 metres of strike length tested to date. The average germanium content of sphalerite from the Main Zone is 654 grams per tonne while the average germanium content of the GZ Zone is 521 grams per tonne. The project shows potential to be a much-needed western source of the Critical Metal germanium. 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. Core samples averaged over 3kg in weight. For germanium analyses a piece of split core approximately 15cm in length containing sphalerite was selected and submitted to CF Mineral Research Ltd. From the selected location a piece of a thin slice of core was mounted in epoxy, polished, carbon coated and mapped using a scanning electron microscope to select sphalerites for analysis. The samples were then sent to UBC Okanagan for germanium analysis using laser ablation inductively coupled plasma mass spectroscopy (LA-ICPMS). A 100 micron spot size was used and NIST610 and 612 reference materials were used as standards. 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. Annuncio • Jan 17
Cantex Mine Development Corp. announced that it has received CAD 3.00019 million in funding On January 16, 2024, Cantex Mine Development Corp. closed the transaction. The company received CAD 200,200 in its second and final tranche closing. The company issued 770,000 units at issue price CAD 0.26 per Unit for gross proceeds CAD 200,200 bringing total proceeds CAD 3,000,190. The Company was charged CAD 14,000 in finders fees in connection with the Final Tranche, which was settled with the issuance of 53,846 Units at a deemed price of CAD 0.26 per Unit. The Units issued as settlement of the fees are comprised of 53,846 non-flow through shares and 26,923 warrants; the warrants are exercisable for a period of two years from issuance and have an exercise price of CAD 0.39. The Company also issued 53,846 finders warrants, which have the same terms and conditions as the warrants issued in the Offering. All warrants issued as part of the finders fee are non-transferable. The securities issued in the Final Tranche are subject to a four month hold period, expiring on May 13, 2024.
The TSX Venture Exchange has accepted for filing documentation with respect to the transaction. The transaction included participation from 14 placees and 1 existing insider for 76,923 non flow-through shares. The company has paid finder's fees of CAD 65,100 and issued 430,766 non flow-through shares and 863,419 warrants. New Risk • Dec 29
New major risk - Negative shareholders equity The company has negative equity. Total equity: -CA$388k This is considered a major risk. Being in negative equity means that the company's liabilities exceed its assets, meaning it owes more to creditors than it has in owned assets. While this doesn't mean the company is about to collapse, in the long-term, this is unsustainable. The company may have issues meeting financial obligations, is at risk of becoming insolvent and may have difficulty raising capital, especially more debt, if needed. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (19% average weekly change). Negative equity (-CA$388k). Revenue is less than US$1m. Minor Risks Shareholders have been diluted in the past year (31% increase in shares outstanding). Market cap is less than US$100m (CA$32.3m market cap, or US$24.4m). Annuncio • Dec 06
Cantex Mine Development Corp. announced that it expects to receive CAD 3 million in funding Cantex Mine Development Corp. announced a non-brokered private placement to issue flow through units at a price of CAD 0.30 per unit, with each FT unit comprised of one flow through share and one-half warrant and non-flow through units at a price of CAD 0.26 per unit, with each unit comprised of one non-flow through share and one-half warrant for the aggregate gross proceeds of CAD 3 million on December 5, 2023. Each whole warrant issued in connection with either the FT units or the NFT units entitles the holder to acquire a non-flow through share at a price of CAD 0.39 for a term of two years. Rob McEwen has agreed to subscribe for CAD 200,000 of NFT units of this offering from an entity controlled by him, bringing his shareholding in company to over 4.6 million shares. The Company may pay finder's fees in connection with the Offering in accordance with the policies of the TSX Venture Exchange. Annuncio • Dec 05
Cantex Mine Development Corp., Annual General Meeting, Feb 07, 2024 Cantex Mine Development Corp., Annual General Meeting, Feb 07, 2024. Annuncio • Nov 24
Cantex Mine Development Corp. announced that it has received CAD 3.823485 million in funding from Crescat Portfolio Management LLC On November 22, 2023, Cantex Mine Development Corp. closed the transaction. The company issued 6,833,734 flow through units and 3,276,923 non flow-through units issued at CAD 0.30 per FT unit and issued at CAD 0.26 per unit respectively for the aggregate gross proceeds of CAD 2,902,120 in its final tranche. Combined with the first tranche, the offering has resulted in gross proceeds of CAD 3,823,485 from the issuance of 8,258,284 FT units and 5,176,923 NFT units. The company was charged CAD 178,500 in finders fees in connection with the final tranche; of this, CAD 24,500 was paid in cash, with the remaining CAD 154,000 in fees settled with the issuance of 592,308 units at a deemed price of CAD 0.26. Katherine MacDonald, subscribed for 200,000 units for a total subscription price of CAD 52,000. Annuncio • Nov 23
Cantex Mine Development Corp. Intersects an Outstanding 89.25 Metres of Mineralization at Its North Rackla Drill Project Cantex Mine Development Corp. reported that a 89.25 metre intersection of strong mineralization has been encountered at the Main Zone of the silver-lead-zinc-germanium Massive Sulphide project. The Company also is closing a final tranche of its financing. Main Zone Drilling. Hole YKDD23-285 was the final hole from the fall 2023 drill program. This hole contained an exceptional intercept from 416.75 to 506 metres depth drilled from pad MZ33 at a -85-degree dip and 166 degree azimuth. Split core from this hole has been submitted to the CF Mineral Research, an ISO/IEC 17025:2005 accredited laboratory for preparation prior to being sent to ALS Chemex Laboratories in North Vancouver for analysis for silver-lead-zinc. Polished sections will be submitted to the University of British Columbia Okanagan for germanium analysis. All of the foregoing results as well as germanium results from samples already submitted will be reported when received. Annuncio • Oct 26
Cantex Mine Development Corp. Intersects Strong Massive Sulphide in Its First Hole Drilled in 2023 At North Rackla Project, Yukon Cantex Mine Development Corp. reported that Cantex is presently drilling on its North Rackla claims. The first hole (YKDD23-279) drilled at a -45deg inclination into the Main Zone of the silver-lead-zinc-germanium mineralization encountered a 7.8 metre intersection of strong massive sulphide from a depth of 82.5 metres. Cantex reported such an outstanding intersection on its first hole. Drilling continues. Annuncio • Sep 21
Cantex Mine Development Corp. announced that it expects to receive CAD 5 million in funding from Crescat Portfolio Management LLC and others Cantex Mine Development Corp. announced a private placement to issue flow-through units at a price of CAD 0.30 per unit and non flow-through unit at a price of CAD 0.26 per unit for the gross proceeds of CAD 5,000,000 on September 20, 2023. The transaction will include participation from new investor, Crescat Portfolio Management LLC for CAD 1,500,000 and other investors. New Risk • Aug 15
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Canadian stocks, typically moving 14% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$7.2m free cash flow). Earnings have declined by 11% per year over the past 5 years. Revenue is less than US$1m. Minor Risks Share price has been volatile over the past 3 months (14% average weekly change). Shareholders have been diluted in the past year (12% increase in shares outstanding). Market cap is less than US$100m (CA$21.7m market cap, or US$16.1m). Annuncio • Jul 11
Cantex Mine Development Corp. Receives Additional Elevated Germanium Results and Provides Recent Analyses of Drill Core, Rock and Soil-Talus Samples on Its 100% Owned North Rackla Project, Yukon Cantex Mine Development Corp. provided an update on its 100% owned 14,077 hectare North Rackla claim block in the Yukon. China has announced that it will be restricting exports of germanium to the United States and western markets starting August 1, 2023. China supplies 83% of the world's germanium and provides the US with half of its supply. Prior to this restriction germanium had already been identified by the Canadian and US governments as being a Critical Metal. It is an important constituent of many modern technologies. These include fibre-optic systems, infrared (night vision) optics, the highest efficiency solar cells, polymerization catalysts and high-brightness light-emitting-diodes used in televisions and vehicle headlights. Germanium has a high value, currently selling for USD 1.32 per gram. There are few western sources of germanium, the most significant being ore from Teck's Red Dog Mine in Alaska which is processed at the Trail smelter in British Columbia. It is apparent that western nations will need to find additional sources of germanium. Cantex is fortunate to have identified highly elevated germanium contents within the zinc mineralization found at its Massive Sulphide project in North Rackla. While the four deposits which comprise the Red Dog Mine average between 104 and 249 grams per tonne germanium, zinc mineralization from Cantex's Main Zone and adjacent GZ Zone average 640 grams per tonne and 690 grams per tonne respectively. At the Main Zone 140 analyses from 36 intersections along 2,200 metres of strike length have now been completed. Twenty analyses from five intersections have been completed at the GZ Zone. Additional germanium analyses are awaited and will be reported when received. Drilling Confirms Additional Mineralization at Discovery Sector. The most significant results were from the Discovery Sector where the strike length was extended to 2,350 metres in 2022. Hole YKDD22-252 contained several mineralized zones, notably a three metre intercept of 24.78% combined lead-zinc and 59.4 g/t silver which includes a 1.5 metre zone of 45.28% lead-zinc and 105.6 g/t silver. New Risk • Jul 06
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Canadian stocks, typically moving 13% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$7.2m free cash flow). Earnings have declined by 11% per year over the past 5 years. Revenue is less than US$1m. Minor Risks Share price has been volatile over the past 3 months (13% average weekly change). Shareholders have been diluted in the past year (12% increase in shares outstanding). Market cap is less than US$100m (CA$21.7m market cap, or US$16.3m). Recent Insider Transactions • Feb 13
Chairman of the Board recently bought CA$81k worth of stock On the 10th of February, Charles Fipke bought around 410k shares on-market at roughly CA$0.20 per share. This transaction amounted to 1.6% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Charles has been a buyer over the last 12 months, purchasing a net total of CA$401k worth in shares. Annuncio • Feb 10
Cantex Mine Development Corp. Provides Update on Main Zone at its 100% Owned 14,077 Hectare North Rackla Claim Block in Yukon Cantex Mine Development Corp. provided an update on the Main Zone at its 100% owned 14,077 hectare North Rackla claim block in the Yukon. Dr. Charles Fipke reported High Germanium Content in Main Zone Sulphides: Cantex reported that analyses of sphalerite (zinc sulphide) from its Main Zone mineralization show very high germanium values. A total of twelve analyses were completed on samples from four drill holes testing the Main Zone at the Massive Sulphide project in the Yukon. The germanium content of sphalerite in the Main Zone is very high, averaging 795 grams per tonne. This content is significant when compared to other global sources of germanium. Germanium is one of the elements identified as a Critical Element in both Canada and the United States. It is a high value metal, currently selling for USD 1.21 per gram. Germanium is predominantly used in fibre-optic systems, infrared optics, polymerization catalysts, the highest efficiency solar cells currently available and high-brightness light-emitting-diodes used in televisions and vehicle headlights. Global production in 2021 is estimated at 140 tonnes. Approximately 60% of this is sourced from sphalerite ores and 40% is sourced from coal. The vast majority of this (95 tonnes) is from China while Russia produced an additional 5 tonnes. The most significant western source of germanium is from the Red Dog Mine in Alaska whose sphalerite-rich ore is processed in Teck's smelter in Trail, BC. The four primary deposits that comprise Red Dog average between 104 and 249 grams per tonne germanium. Cantex looks forward to testing for germanium along the strike length of the Main Zone and also at the nearby GZ Zone. Analytical Methods: At the CF Mineral Research laboratory in Kelowna, BC pieces of HQ sized (63.5mm diameter) drill core containing lead-zinc sulphide mineralization were extracted and mounted in resin. The mounts were then ground down to expose the rock and polished prior to being carbon coated. The mounts were then examined with a Scanning Electron Microscope employing Energy Dispersive Spectroscopy to identify sphalerite grains. Two regions of sphalerite on each mount were then analysed using Laser Ablation Inductively Coupled Plasma Mass Spectrometry (LA-ICP-MS) at the University of British Columbia Okanagan. The laser spot size was 100nm and NIST 610 and NIST 612 standards were used. The germanium analyses are accurate to within 10%. Annuncio • Jan 13
Cantex Intersects 23.5 Metres of 8.34% Lead-Zinc At the Main Zone Including 2.5 Metre Zones of Up to 24.72% Lead-Zinc and 85 G/T Silver on Its 100% Owned North Rackla Project, Yukon Cantex Mine Development Corp. provided an update on drilling of the Main Zone at its 100%-owned 14,077 hectare North Rackla claim block in the Yukon. Dr. Charles Fipke reports Drilling confirms strike extension of mineralization to northeast along Main Zone Cantex reported results from a further five drill holes from its 2022 drill program at the Main Zone of the North Rackla project. These holes, drilled in the Discovery Sector, extended the Main Zone mineralization 150 metres further to the northeast than had been previously identified, bringing the Main Zone strike length to 2,300 metres. Within this intercept there were two higher grade zones, both 2.5 metres long. The first contained 44.68 g/t silver ad 19.06% combined lead and zinc. The second contained 85.32 g/t silver and 24.72% combined lead and zinc. Holes YKDD22-250, YKDD22-255 and YKDD22-257 were drilled from pad MZ53A, a 100 metre step out from the drilling in 2021. It intersected several zones of mineralization including a 12.7 metre zone within which 1.5 metres contained 75.33 g/t silver and 24.21% combined lead and zinc. Results are awaited from 46 holes and will be released when received. 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 prior to being transported to CF Mineral Research Ltd. in Kelowna, BC. At CF Minerals the drill core was 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 and a 250g split was sent for assay. 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. Annuncio • Dec 16
Cantex Mine Development Corp., Annual General Meeting, Feb 13, 2023 Cantex Mine Development Corp., Annual General Meeting, Feb 13, 2023. Annuncio • Nov 17
Cantex Mine Development Corp. announced that it expects to receive CAD 1.6 million in funding Cantex Mine Development Corp. announced a fully subscribed non-brokered private placement of flow through units at a price of CAD 0.27 per flow-through unit and non-flow through unit at a price of CAD 0.25 per non-flow through unit for gross proceeds of up to CAD 1,600,000 on November 15, 2022. Each flow through unit comprised of one flow through share and one-half warrant. Each non-flow through unit comprised one non-flow through common share and one half warrant. Each whole warrant issued in connection with either the flow through units or the units entitles the holder to acquire a non-flow through share at a price of CAD 0.35 for a term of two years. The company may pay finder's fees in connection with the transaction in accordance with the policies of the TSX Venture Exchange. The transaction is expected to close on November 18, 2022. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director Vern Frolick was the last independent director to join the board, commencing their role in 2003. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Annuncio • Sep 27
Cantex Mine Development Corp. Provides Update on Drilling of Main Zone at its 100% Owned 14,077 Hectare North Rackla Claim Block in Yukon Cantex Mine Development Corp. provided an update on drilling of the Main Zone at its 100% owned 14,077 hectare North Rackla claim block in the Yukon. Drilling confirms strike extension of mineralization to northeast along Main Zone: Cantex reported the first results from its 2022 drill program at the Main Zone of the North Rackla project. To date results from three holes have been received. These results confirm that the Main Zone mineralization continues to the northeast in the Discovery Sector. Holes YKDD22-243 and YKDD22-244 are drilled from pad MZ52A while YKDD22-245 was drilled from pad MZ52. All these holes intersected mineralization 50 metres beyond drilling completed in 2021, bringing the strike length to 2,150 metres. Additional drilling is now underway further to the northeast, from which results are awaited, that has extended the mineralization a further 150 metres, bringing the drill confirmed strike length to 2,300 metres. Results have also been received from 8 holes drilled at the GZ Zone. These holes were drilled in covered areas to help define controlling structures and did not intersect significant mineralization. Cantex has completed 54 holes on the North Rackla project so far during the 2022 season. Results from 36 of these holes are still awaited and will be reported when received. The drill team will shortly go on a two week break as mandated by the Yukon Workers' Safety and Compensation Board and will be back drilling on October 7, 2022. 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 prior to being transported to CF Mineral Research Ltd. in Kelowna, BC. At CF Minerals the drill core was 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 and a 250g split was sent for assay. 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 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. The over limit analyses contributed to delays in receiving final assay results. Annuncio • Aug 13
Cantex Mine Development Corp. Provides an Update on Drilling of the GZ Zone At Its 100% Owned 14,077 Hectare North Rackla Claim Block in the Yukon Cantex Mine Development Corp. provided an update on drilling of the GZ Zone at its 100% owned 14,077 hectare North Rackla claim block in the Yukon. A 5 Metre Zone of 39% Lead-Zinc and 116 g/t Silver Intersected in Hole YKDD22-226 at GZ Zone. Holes YKDD22-224, YKDD22-226 and YKDD22-228 were all drilled from pad GZ2.5C and each of these holes intersected significant sulphide mineralization. Hole YKDD22-224 intersected 11 metres of 11.7% lead-zinc and 36 g/t silver. Hole YKDD22-226 intersected 5.0 metres of 39.0% lead-zinc and 116 g/t silver. Hole YKDD22-228 intersected 9.0 metres of 18.0% lead-zinc and 59 g/t silver which included a 4.5 metre high grade zone containing 29.0% lead-zinc and 93 g/t silver. Cantex has completed 36 holes on the North Rackla project so far during the 2022 season. Results from 29 of these holes are still awaited and will be reported when received. The drill team has just gone on a two week break as mandated by the Yukon Workers' Safety and Compensation Board and will be back drilling on August 20th. 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 prior to being transported to CF Mineral Research Ltd. in Kelowna, BC. At CF Minerals the drill core was 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 and a 250g split was sent for assay. 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 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. The over limit analyses contributed to delays in receiving final assay results. Recent Insider Transactions • Jul 31
Chairman of the Board recently bought CA$72k worth of stock On the 28th of July, Charles Fipke bought around 190k shares on-market at roughly CA$0.38 per share. This was the largest purchase by an insider in the last 3 months. Charles has been a buyer over the last 12 months, purchasing a net total of CA$422k worth in shares. Annuncio • Jul 29
Cantex Mine Development Corp. Provides Update on Drilling of the Main Zone At Its 100% Owned 14,077 Hectare North Rackla Claim Block in the Yukon Cantex Mine Development Corp. provided an update on drilling of the Main Zone at its 100% owned 14,077 hectare North Rackla claim block in the Yukon. 27.7 Metre Zone of Semi-Massive to Massive Sulphides Intersected in Hole YKDD22-246 at Northeast End of Main Zone - Hole YKDD22-246 was drilled at a -65 degree dip from the same pad MZ 52 and at the same 145 degree azimuth as hole YKDD22-239. As reported on July 13, 2022 hole YKDD22-239, drilled at a -45 degree dip, contained a 7.5 meter massive to disseminated sulphide intersection. The semi-massive to massive sulphides in hole YKDD22-246 consist of sphalerite (zinc sulphide) and galena (lead sulphide) and were intersected from 49.6 to 77.3 metres. The 27.7 metre intersection occurs between 51 and 69 metres depth from the surface. A minor amount of chalcopyrite (copper-iron sulphide) was intersected with massive lead-zinc sulphides from 90.7 to 91.4m. The above mentioned two intersections from pad MZ 52 in the northeast extend the Main Zone to 2.15 kilometres. Drilling has now commenced at a -80 degree dip below the two intersections on pad MZ 52 and the second drill has stepped out further to northeast along strike. The HQ sized core has been split and is being shipped to CF Minerals in Kelowna for sample preparation prior to being sent to ALS Chemex in Vancouver for analysis. Annuncio • Jul 22
Cantex Mine Development Corp. Provides Update on North Rackla Claim Block Cantex Mine Development Corp. provided an update on drilling of the Main Zone at its 100% owned 14,077 hectare North Rackla claim block in the Yukon. Drilling from pad MZ 52A demonstrates the massive sulphides intersected while drilling from pad MZ 52 extend to depth. Hole YKDD22-241 intersected several zones containing massive to semi-massive sulphide mineralization at the extreme northeastern end of the 2.15km long Main Zone. The most significant of these are from 154.75 to 160.1 metres (5.35m) and 183.5 to 189.95m (6.45m). This last zone is 124 metres vertically below surface. The Company continues drilling at this northeastern end (Discovery Target) of the Main Zone. The HQ sized core has been split and is being shipped to CF Minerals in Kelowna for sample preparation prior to being sent to ALS Chemex in Vancouver for analysis. Annuncio • Jul 14
Cantex Mine Development Corp. Provides an Update on Drilling of the Main Zone at its 100% Owned 14,077 Hectare North Rackla Claim Block in the Yukon Cantex Mine Development Corp. provided an update on drilling of the Main Zone at its 100% owned 14,077 hectare North Rackla claim block in the Yukon. Drilling Extends Massive Sulphide Zone Strike Length: Drilling has now commenced at the Discovery Target within the Main Zone. The first hole drilled has intersected massive sulphides. These massive sulphide intercepts with associated semi-massive and disseminated mineralization measure 7.5 metres in length. This hole, drilled from pad MZ 52, extends the strike length of the Main Zone to 2.15 kilometres. The mineralization is still open to the northeast, where additional drilling is planned. The HQ sized core has been split and is being shipped to CF Minerals in Kelowna for sample preparation prior to being sent to ALS Chemex in Vancouver for analysis. Annuncio • Jun 08
Cantex Intersects Massive Sulphides in Three Drill Holes in the Gz Zone on Its 100% Owned North Rackla Project, Yukon Cantex Mine Development Corp. provided an update on drilling of the GZ Zone at its 100%-owned 14,077 hectare North Rackla claim block in the Yukon. Dr. Charles Fipke reports Massive Sulphides Intersected at GZ Zone Massive sulphides have been intersected in three holes drilled this season into the GZ Zone. These massive sulphide intercepts with associated semi-massive and disseminated mineralization measure 4.7, 14.0 and 8.1 metres in length. Drilling at this zone in 2021 intersected massive sulphide which assayed 4.7% lead, 19.25% zinc with 101 g/t silver over 16.05 metres. The GZ Zone is located 500 metres southeast of the Main Zone in a talus and glacial till covered area. Drilling is continuing at the GZ Zone and in covered areas between the Main Zone and GZ Zone. The HQ sized core has been split and is being shipped to CF Minerals in Kelowna for sample preparation prior to being sent to Chemex in Vancouver for analysis. The technical information and results reported here have been reviewed by Mr. Chad Ulansky P.Geo., a Qualified Person under National Instrument 43-101, who is responsible for the technical content of this release. Annuncio • May 26
Cantex Commences Drilling At North Rackla Project, Yukon Cantex Mine Development Corp. has commenced drilling at its 100% owned 14,077 hectare North Rackla claim block in the Yukon. Cantex announced that drilling has now commenced on its North Rackla project in the Yukon. Currently, two drills are working on testing the GZ Zone at the Massive Sulphide project. The maiden drill program here in 2021 encountered significant high-grade mineralization such as 16.05 metres of 24% lead-zinc and 101 g/t silver which included 3.7 metres of 60% lead-zinc and 336 g/t silver. The area of the GZ Zone is covered in glacial sediments making soil-talus sampling and geological mapping not possible. This season's drilling at the GZ Zone is targeted to better determine the geometry and control of this mineralization by drilling beneath the glacial cover. Later in the season drilling will also be undertaken on the Main Zone to extend the 2.1km strike length. Further drilling will also be undertaken on regional targets within the North Rackla claim block. The Company looks forward to a productive field season. The technical information and results reported here have been reviewed by Mr. Chad Ulansky P.Geo., a Qualified Person under National Instrument 43-101, who is responsible for the technical content of this release. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director Vern Frolick was the last independent director to join the board, commencing their role in 2003. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Annuncio • Apr 27
Cantex Mine Development Corp. Releases an Update on the Work Program at North Rackla Project, Yukon Cantex Mine Development Corp. has released an update on the work program at its 100% -owned 14,077 hectare North Rackla claim block in the Yukon. Drilling at the GZ Zone continues to return high-grade intercepts of silver-lead-zinc mineralization. Further drilling from pad GZ02D, from which hole YKDD21-209 intersected 16.05 metres of 23.95% combined lead and zinc with 101g/t silver and 9.1m of 17.78% combined lead and zinc with 53g/t silver, intersected 6.0 metres of 14.05% combined lead and zinc with 9 g/t silver in hole YKDD21-210. Drilling from pad GZ02E intersected 4.5 metres of 17.63% lead-zinc and 28 g/t silver. Hole YKDD21-214 collared on pad GZ03E intersected 3.95 metres of 12.86% lead-zinc with 13 g/t silver. Drilling at the Main Zone continues to return high-grade intercepts of silver-lead-zinc mineralization. From pad MZ32 hole YKDD21-208 intersected 3.15 metres of 19.00% combined lead-zinc. Hole YKDD21-204 from pad MZ34 intersected a 1 metre interval containing 245 g/t silver and hole YKDD21-203 intersected 3.4 metres of 13.39% combined lead-zinc. The Cantex directors continue to be impressed with the quality of the mineralization being intersected at the GZ Zone, and that it is being intersected near surface. The 2022 drill program will commence here with two drills working to better define the orientation of the mineralization and extend it along strike. Another drill rig is presently on the site of the high-grade copper anomaly which will be drilled as soon as sufficient snow melts. Structural geologist Chris Buchanan will be geologic mapping to define drill targets on an additional high-grade copper, three high-grade gold and four high-grade silver-lead-zinc anomalous areas that surround the Main and GZ Zones of mineralization . Drilling at the Main Zone continues to demonstrate the large size of this mineralized body. Drilling this season will be focussed on extending the strike length beyond the 2.1km already drill proven. Project staff will shortly be mobilizing to site to commence preparations for the start of drilling, which is expected to start in mid-May. The drill holes reported in this press release were drilled using HQ 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 prior to being transported to CF Mineral Research Ltd. in Kelowna, BC. At CF Minerals the drill core was 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 and a 250g split was sent for assay. 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 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, zinc or copper values exceeded 1% the Pb-OG62, Zn-OG62 or Cu-OG62 techniques were used. These have upper limits of 20% lead, 30% zinc and 50% copper, 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. The over limit analyses contributed to delays in receiving final assay results. Annuncio • Apr 03
Cantex Mine Development Corp. announced that it has received CAD 5.360032 million in funding On April 1, 2022, Cantex Mine Development Corp. closed the transaction. The company issued 10,052,737 flow through units for gross proceeds of CAD 3,820,040 and 4,812,475 non flow-through units for gross proceeds of CAD 1,539,992 and aggregate gross proceeds of CAD 5,360,032 in the transaction. The transaction included participation from existing investor 0974052 B.C. Ltd. for 781,250 Units for a total subscription price of CAD 250,000. The company paid finder’s fee of CAD $342,862 in connection with Offering. Of this, CAD 75,320 was paid in cash, with the remaining CAD 267,542 in fees settled with the issuance of 836,069 Units priced at a deemed price of CAD 0.32 per Unit. The Company also issued 1,054,821 finder warrants on substantially the same terms as the Warrants. The securities issued in the Offering are subject to a four month hold period expiring on August 2, 2022. Final acceptance of the Offering by the TSX Venture Exchange remains subject to the Company making certain filings with the Exchange. Annuncio • Mar 31
Cantex Mine Development Corp. announced that it expects to receive CAD 5.360032 million in funding Cantex Mine Development Corp. announced a combined non-brokered private placement of flow through units at a price of CAD 0.38 per flow-through unit and non-flow through unit at a price of CAD 0.32 per non-flow through unit for gross proceeds of up to CAD 5,360,032 on March 30, 2022. Each flow through unit comprised of one flow through share and one warrant. Each non-flow through unit comprised one non-flow through common share and one warrant. Each warrant is exercisable to purchase a non-flow through share at a price of $0.48 for a term of two years. The company may pay finder's fees in connection with the transaction in accordance with the policies of the TSX Venture Exchange. The securities issued pursuant to the transaction will be subject to a four month hold period from the date of issue of the units. The transaction remains subject to the acceptance of the TSX Venture Exchange. All the securities issued will subject to a hold period of four month hold period from the date of issue of the units. The transaction remains subject to the acceptance of the TSX Venture Exchange. The transaction is expected to close on April 1, 2022. Recent Insider Transactions • Feb 24
Chairman of the Board recently bought CA$193k worth of stock On the 22nd of February, Charles Fipke bought around 598k shares on-market at roughly CA$0.32 per share. This was the largest purchase by an insider in the last 3 months. Charles has been a buyer over the last 12 months, purchasing a net total of CA$915k worth in shares. Annuncio • Feb 17
Cantex Mine Development Corp. Intersects 47.5% Zinc, 12.5% Lead and 336g/t Silver over 3.7m Within a 16.05m Intersection of 24% Lead-Zinc with 101g/t Silver at GZ Zone on Cantex's 100% Owned North Rackla Project, Yukon Cantex Mine Development Corp. has released an update on the work program at its 100% owned 14,077 hectare North Rackla claim block in the Yukon. Drilling from pad GZ02D at the GZ Zone has intersected exceptional silver-lead-zinc grades. The GZ Zone, discovered in 2020, is located on Figure 1. Hole YKDD21-209 drilled at a dip of -45 degrees and an azimuth of 304 degrees intersected two significant zones of mineralization. The first measures 16.05m of 23.95% combined lead and zinc with 101g/t silver and the second measures 9.1m of 17.78% combined lead and zinc with 53g/t silver. Within the first intercept are two exceptional high-grade zones. The first measures 2.6m of 48.2% combined lead-zinc with 117.6 g/t silver. The second measures 3.7m of 60.0% combined lead-zinc with 336.5 g/t silver. Results are awaited from a further six holes at the GZ Zone. Hole YKDD21-207 drilled from pad GZ0 did not intersect significant mineralization. The drill results in this release from the GZ Zone are the highest silver-lead-zinc results yet reported from the North Rackla project. Drilling has yet to be completed in between the GZ Zone and the Main Massive Sulphide Zone located 500m to the north. Extensive drilling at the Main Zone has previously defined high grade silver-lead-zinc mineralization over 2.1km of strike length. The Cantex directors are most excited by these outstanding high-grade near surface intersections. Additional drilling in between the Main and GZ Zones is needed to determine whether or not the two zones are connected. 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 prior to being transported to CF Mineral Research Ltd. in Kelowna, BC. At CF Minerals the drill core was 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 and a 250g split was sent for assay. 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 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, zinc or copper values exceeded 1% the Pb-OG62, Zn-OG62 or Cu-OG62 techniques were used. These have upper limits of 20% lead, 30% zinc and 50% copper, 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. The over limit analyses contributed to delays in receiving final assay results. Annuncio • Feb 01
Cantex Mine Development Corp. Elects Jason Granger as Director Cantex Mine Development Corp. announced that at its AGM held on January 28, 2022, During the meeting a motion was made and passed amending the number of directors to be elected from four to five. Jason Granger was then nominated in addition to the four management nominees. Mr. Granger has over 20 years of experience in capital markets, corporate finance and accounting in a range of sectors, including industrials and natural resources. He also sits on the board of Northern Uranium Corp. Recent Insider Transactions • Sep 24
Chairman of the Board recently bought CA$59k worth of stock On the 21st of September, Charles Fipke bought around 108k shares on-market at roughly CA$0.54 per share. In the last 3 months, they made an even bigger purchase worth CA$157k. Charles has been a buyer over the last 12 months, purchasing a net total of CA$1.4m worth in shares. Recent Insider Transactions • Sep 18
Chairman of the Board recently bought CA$68k worth of stock On the 13th of September, Charles Fipke bought around 129k shares on-market at roughly CA$0.53 per share. In the last 3 months, they made an even bigger purchase worth CA$195k. Charles has been a buyer over the last 12 months, purchasing a net total of CA$1.3m worth in shares. Annuncio • Sep 14
Cantex Mine Development Corp. Extends Strike of Main High Grade Massive Sulphide Zone and Provides Drilling Update for G66 High Grade Copper Anomaly on the North Rackla Project, Yukon Cantex Mine Development Corp. released an update on the work program at its 100-percent-owned 14,077 hectare North Rackla claim block in the Yukon. Two core holes, each at a -45 degree dip were drilled to test the area of surface rock sampling that analyzed up to 21.7% copper and 60 g/ton silver. Massive chalcopyrite (copper-rich sulphide) was intersected between 20.5 and 20.8 metres in the first core hole drilled at an azimuth of 261 degrees and moderate to strong chalcopyrite was intersected between 47 and 55.4 metres in the second hole drilled at an azimuth of 286 degrees. However, the actual target depth was about 90 metres to the zone of surficial high grade copper mineralization in rock/talus so it is believed that the zone of surficial high-grade copper has not yet been intersected. See Map 2 for the location of Anomaly G66. Two possible explanations have been identified for the location of the mineralization. First, structural geologist Chris Buchanan has indicated the high-grade surficial copper to be controlled by axial plane cleavage faults of a F1 syncline (synform). It is thus possible that the drill holes passed under the copper mineralization controlled by the syncline. A vertical hole at the site of the surficial high- grade copper would determine the thickness and grade of copper mineralization within the syncline and determine underlying bedding dips (valuable for structural interpretation). Second, the zone of high-grade surficial rock/talus copper mineralization is not outcropping because it is covered by extensive talus and alpine glacial sediments. An alpine glacier has moved downslope in an east to west direction covering the north-south trending zone of mineralization in talus. It is thus possible that the high-grade copper mineralization in talus has been moved by the alpine glacier (and perhaps talus slides) from upper dolomitic units in the east, westward downslope to the present north-south trending area containing the high-grade copper mineralization in rock/talus. Further work to be done consisting of soil-talus samples will be collected beginning at the highest topography in the east, down the slope of the alpine glacier westward to the high-grade surficial copper zone. The analytical results of these soil-talus samples for copper will determine whether there is a high-grade copper zone east of the present drill pad. The drill rig will remain on site until it is determined whether it should be moved eastward or alternatively to the high-grade copper zone to test the possible synclinal thickness with a vertical hole. Annuncio • Aug 28
Cantex Mine Development Corp. Commences Drilling of A High-Grade Copper Discovery on 100% Owned North Rackla Project, Yukon Cantex Mine Development Corp. (the "Company") has released an update on the work program at its 100% -owned 14,077 hectare North Rackla claim block in the Yukon. A group of five geologists visited the accessible newly discovered gold-copper-silver-lead-zinc showings around the high-grade Main Zone massive sulphides presently being drilled. Anomaly G66 contains outstanding sub-cropping massive to disseminated mineralization over an area of 65 metres wide and 410 metres long as mapped by structural geologist Chris Buchanan. This north-south trending zone disappears under talus to the north and under landslide debris to the south. Geologist Chad Ulansky collected 12 rock samples from 65 metres of width and 150 metres of strike length from the sub-cropping mineralization. These samples averaged 10.45% copper and 32 g/t silver. This high-grade disseminated to massive mineralization is so impressive it was decided to immediately mobilize a drill to test this showing. Recent Insider Transactions • Jul 18
Chairman of the Board recently bought CA$157k worth of stock On the 13th of July, Charles Fipke bought around 312k shares on-market at roughly CA$0.50 per share. In the last 3 months, they made an even bigger purchase worth CA$195k. Charles has been a buyer over the last 12 months, purchasing a net total of CA$1.8m worth in shares. Annuncio • Jul 15
Cantex Mine Development Corp. Announces Six of Seven Holes Drilled in 2021 Have Intersected High Grade Lead-Zinc Massive Sulphides and Provides Update on Regional Targets at North Rackla Project, Yukon Cantex Mine Development Corp. has released an update on the work program at its 100% owned 14,077 hectare North Rackla claim block in the Yukon. North Rackla Massive Sulphide Drilling Update: To date seven drill holes have been completed from pads MZ30 and MZ51. Six of the seven holes intersected semi-massive to massive sulphides consisting of galena and sphalerite (lead and zinc containing minerals, respectively) which in holes YKDD21-184 and YKDD21-185 were oxidized. The longest logged mineralized intercept was 24.35m in hole YKDD21-189. Core from the first five holes has been cut on site and sent to the labs for preparation and analysis. The next two holes are being prepared for shipment. The analytical results will be released when received. North Rackla Regional Targets: The highest priority gold, copper and silver-lead-zinc anomalies are G04, G14, G38, G66 and G67 as assessed by geologist, Chad Ulansky. Their locations are presented in Figure 4. Structural mapping has been completed on the high-grade copper showing (anomaly G66) that consistently returned grades of up to 20.8% copper. In addition, anomaly G67 from which rock samples contained gold grades ranging from 1.36 g/tonne to 39.6 g/tonne has been preliminarily mapped. Over the next week the remaining high priority targets will be reviewed and geologically mapped so that drill targets can be located. The objective will be to drill high priority targets in 2021. Recent Insider Transactions • Jul 03
Chairman of the Board recently bought CA$195k worth of stock On the 24th of June, Charles Fipke bought around 408k shares on-market at roughly CA$0.48 per share. This was the largest purchase by an insider in the last 3 months. Charles has been a buyer over the last 12 months, purchasing a net total of CA$1.8m worth in shares. Annuncio • Jun 25
Cantex Mine Development Corp. Releases an Update on the Work Program at Its 100% Owned 14,077 Hectare North Rackla Claim Block in the Yukon Cantex Mine Development Corp. has released an update on the work program at its 100-percent-owned 14,077 hectare North Rackla claim block in the Yukon. Cantex recently received the gold-copper-silver-lead-zinc results for 2,922 soil-talus and 338 rock samples collected during the 2020 field season in watersheds of anomalous heavy mineral stream samples within the North Rackla claims. The claims are located 140km northeast of the town of Mayo and 110km east-northeast of the Victoria Gold Mine, Yukon. The Massive Sulphide Main Zone (Figure 1) within the North Rackla claims was discovered using the same methods (soil-talus sampling, prospecting, etc). The project was first drilled in 2016 and has successfully intersected high grade silver-lead-zinc mineralization commonly between 5 and 10 metres true width and containing 3 ounces per ton silver, and 20% combined lead and zinc. Drilling has now intersected mineralization over a strike length of over 2,000 metres and to a depth of 700 metres. Several of the soil-talus anomalies and their associated rock sample results are presented in this release. Annuncio • Jun 18
Cantex Commences Drilling at North Rackla Project, Yukon Cantex Mine Development Corp. has commenced drilling at its 100% owned 14,077 hectare North Rackla claim block in the Yukon. Cantex announced that drilling has now commenced on its North Rackla project in the Yukon. Currently, two drills are working on testing the Main Zone at the Massive Sulphide project. One drill is testing the Central Target while the other is testing the depth extent of the mineralization discovered drilling from pad MZ51, the furthermost northeast drilling undertaken to date on the Main Zone. The Company looks forward to a productive field season. The technical information and results reported here have been reviewed by Mr. Chad Ulansky P.Geo., a Qualified Person under National Instrument 43-101, who is responsible for the technical content of this release. Recent Insider Transactions • May 27
Chairman of the Board recently bought CA$93k worth of stock On the 21st of May, Charles Fipke bought around 174k shares on-market at roughly CA$0.53 per share. This was the largest purchase by an insider in the last 3 months. Charles has been a buyer over the last 12 months, purchasing a net total of CA$1.7m worth in shares. Annuncio • May 05
Cantex Mine Development Corp. Intersects Gold Accompanied by Arsenic, Antimony and Mercury in Initial Drilling on Bruner Property in Nevada Cantex Mine Development Corp. reported the first five of fourteen reverse circulation drill holes on its 100% owned Bruner property in Nevada. Bruner Property: The Bruner property is located in Nye County, Nevada, which hosts numerous gold mines. Cantex completed 14 reverse circulation ("RC") holes on the project and has received results from five holes. Sample Preparation and Analysis. The drill holes reported in this press release were drilled using reverse circulation drilling with hole diameters between 140 and 146mm. A representative split of the sample was collected off the drill and sent for geochemical analysis. Another split of the sample has been stored on site. Samples were securely transported to the ALS Chemex Laboratory in Reno, Nevada. Here the samples were dried and crushed to 70% passing 2 mm before a 250 gram split was pulverized to 85% passing 75 micrometres. The samples were then analyzed using the AuME-TL43 technique which involves the Aqua Regia digestion of a 25 gram charge and analysis by ICP-MS and ICP-AES. Quality control included the insertion of blanks, standards and field duplicates. Weepah South Property: Drill testing at the Weepah South property determined that the source of the conductive geophysical anomaly was graphite interbedded in Paleozoic carbonate rocks rather than the hoped for conductive gold mineralized target. Analytical results confirmed that gold mineralization was not present and no additional work is planned for these claims. Baxter Springs Property: Five drill holes were completed on the 100% owned Baxter Springs property and analytical results are pending. Carico Lake Property: Roads and three drill pads have been constructed at the Carico Lake property. Three holes totaling 1,100 metres are to be drilled as soon as a suitable drill is available. Conclusion: The Cantex directors are most encouraged by the Bruner property results; the five holes completed to date indicate a Nevada-style gold-arsenic-antimony system has been intersected. Structural geological mapping will be undertaken after the remaining drill results are received. The focus of the mapping will be to assist in determining where the centre of the mineralized system is. In addition, work will include rock chip sampling of the road cuts created by the access roads leading to the 14 drill sites. It is hoped that these results as well as the forthcoming analytical results from the nine remaining holes will further define gold mineralization on the Bruner property. Is New 90 Day High Low • Feb 23
New 90-day high: CA$1.02 The company is up 9.0% from its price of CA$0.94 on 24 November 2020. The Canadian market is also up 9.0% over the last 90 days, indicating the company’s price trend is similar to the market over that time. However, it underperformed the Metals and Mining industry, which is up 10.0% over the same period. Annuncio • Feb 02
Cantex Intersects 8.95 Metres of Massive Sulphides Including 4.05 Metres of 39.39% Lead-Zinc and 130 G/T Silver At North Rackla, Yukon Cantex Mine Development Corp. has released an update on the work program at its 14,077 hectare North Rackla claim block where drill results continue to define a lead-zinc-silver mineralized system with Broken Hill Type (BHT) affinities. Assay results have been received for three holes drilled from pad GZ02 at the GZ Zone. As presented a high-grade interval was intersected in hole YKDD20-174, drilled at a -45 degree dip, which contained 32.14% zinc, 7.25% lead and 130 g/t silver. This was contained within an 8.95 metre zone which contained 18.08% zinc, 4.69% lead and 76.4 g/t silver. The directors are most encouraged by this exceptionally high-grade silver-lead-zinc intersection in a new area covered in glacial till 550 metres southeast of the high-grade extension zone. Hole YKDD20-175 also contained a 2.8 metre interval which contained 11.96% zinc, 3.52% lead and 39.5 g/t silver. As limited drilling conducted to date into the GZ Zone covered in overburden has yet to determine the orientation of the mineralization, true widths can not yet be determined. Lengths in this release refer to core lengths. Results from one hole drilled at the Main Zone have been received. Several small intercepts of mineralization were encountered in hole YKDD20-165 with two intercepts containing over 15% lead- zinc. The Company continues to be impressed with the results from the Massive Sulphide project, where drilling of hidden targets defined by extrapolating geological mapping are being tested. Samples from an additional 13 holes from the 2020 drill program have been submitted for assay and the results will be released as soon as received. The drill holes 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 prior to being transported to CF Mineral Research Ltd. in Kelowna, BC. At CF Minerals the drill core was 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 and a 250g split was sent for assay. 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 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, zinc or copper values exceeded one percent the Pb-OG62, Zn-OG62 or Cu-OG62 techniques were used. These have upper limits of 20% lead, 30% zinc and 50% copper, 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. The over limit analyses contributed to delays in receiving final assay results. Is New 90 Day High Low • Jan 28
New 90-day low: CA$0.81 The company is down 32% from its price of CA$1.20 on 29 October 2020. The Canadian market is up 18% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Metals and Mining industry, which is up 1.0% over the same period. Annuncio • Jan 15
Cantex Mine Development Corp., Annual General Meeting, Feb 26, 2021 Cantex Mine Development Corp., Annual General Meeting, Feb 26, 2021. Recent Insider Transactions • Jan 03
Chairman of the Board recently bought CA$53k worth of stock On the 29th of December, Charles Fipke bought around 60k shares on-market at roughly CA$0.88 per share. In the last 3 months, they made an even bigger purchase worth CA$122k. Charles has been a buyer over the last 12 months, purchasing a net total of CA$1.5m worth in shares. Annuncio • Dec 19
Cantex Mine Development Corp. Releases Update on the Work Program at its 14,077 Hectare North Rackla Claim Block Where Drill Results Continue to Define A Lead-Zinc-Silver Mineralized System with Broken Hill Type Affinities Cantex Mine Development Corp. released an update on the work program at its 14,077 hectare North Rackla claim block where drill results continue to define a lead-zinc-silver mineralized system with Broken Hill Type (BHT) affinities. Assay results have been received for a further four holes drilled from two pads. Mineralization was intersected over 58.2 metres of hole YKDD20-163. This intersection is the deepest drilled on the project to date, at 700 metres below surface. The mineralization is wide, with a true width of 23.67 metres and an average grade of 8.15% combined lead and zinc with 24 g/t silver. Within this there are several high grade zones, including a 4.62 metre true width of 19.24% combined lead and zinc with 67 g/t silver. While most of the results from hole YKDD20-159 were disclosed in a previous release one additional deeper interval has now been received. The last of the samples from the 2020 drill program are presently on their way to the laboratory for processing. These results, along with those already submitted for analysis, will be reported when received. The last of the samples from the 2020 drill program are presently on their way to the laboratory for processing. These results, along with those already submitted for analysis, will be reported when received. Structural geologist Chris Buchanan's work suggests that mineralization at the Central Target has been offset by an east-west fault. This explains the apparent north-easterly offset of mineralization and why sulphides were not intersected in this area during the 2019 drilling. Unfortunately, this was not able to be tested this year and will be a priority next season. The drill holes reported in this press release were drilled using HQ (63.5mm) diamond drill bits. In a few cases, where the drill lacked sufficient power to drill this large core at depth, the hole was reduced to NQ (47.6mm). 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 prior to being transported to CF Mineral Research Ltd. in Kelowna, BC. At CF Minerals the drill core and prospecting 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 and a 250g split was sent for assay. 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. Annuncio • Dec 18
Cantex Mine Development Corp. Commences Drilling Nevada Gold Properties Cantex Mine Development Corp. has commenced drilling on its wholly owned Baxter Springs East property in Nevada. Drilling has now commenced on the Baxter Springs East project in Nevada. Five holes are planned on this project, totaling 975 metres of reverse circulation drilling. The project, staked to cover a gold-anomalous drainage detected by the Company's regional heavy mineral sampling, lies within the Round Mountain Gold Mine Trend. Subsequent work, including prospecting, geological mapping, soil-talus sampling and a CSAMT (Controlled Source Audio-frequency Magneto-Telluric) geophysical survey identified two drill targets. These drill targets are: A west-northwest trending arsenic – antimony – mercury ± gold anomaly within phyllitic Paleozoic rocks. The CSAMT survey suggests the anomaly may be fault bound, with two vertical, moderately resistive zones at depth possibly reflecting altered metasedimentary rocks; A north-northwest trending gold – antimony - bismuth anomaly in an area that the CSAMT survey shows a resistivity high which could be a block of silicified rock or an intrusive. Is New 90 Day High Low • Dec 10
New 90-day low: CA$0.92 The company is down 8.0% from its price of CA$1.00 on 10 September 2020. The Canadian market is up 10.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Metals and Mining industry, which is down 10.0% over the same period. Annuncio • Dec 04
Cantex Mine Development Corp. Intersecting Massive Sulphide Mineralization at Both Main and GZ Zones at North Rackla Cantex Mine Development Corp. has released an update on the work program at its 14,077 hectare North Rackla claim block where drill results continue to define a lead-zinc-silver mineralized system with Broken Hill Type (BHT) affinities. Drilling has now extended the strike length of the Main Zone to over 2 kilometres. A drill testing the northeastern extent of the Main Zone has intersected 4.5 metres of massive to disseminated sulphides between 68.0 and 78.2 metres depth. This hole was drilled at a -45 degree inclination from pad MZ 51, which is located 1.95 kilometres from pad MZ 5. GZ Zone: A vertical hole was undertaken to assist in determining the orientation of the mineralization. This hole intersected massive sulphide mineralization (46.1 to 52.8 metres). While constructing access to a forthcoming drill pad the mineralization was exposed. At surface, the mineralization is 6.35 metres wide (true width) and is dominantly intensely oxidized but does contain two one metre wide massive galena sections. Is New 90 Day High Low • Nov 18
New 90-day low: CA$0.96 The company is down 30% from its price of CA$1.37 on 20 August 2020. The Canadian market is up 4.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Metals and Mining industry, which is down 7.0% over the same period. Recent Insider Transactions • Oct 30
Chairman of the Board recently bought CA$122k worth of stock On the 28th of October, Charles Fipke bought around 105k shares on-market at roughly CA$1.17 per share. In the last 3 months, they made an even bigger purchase worth CA$125k. Charles has been a buyer over the last 12 months, purchasing a net total of CA$1.3m worth in shares. Annuncio • Oct 29
Cantex Mine Development Corp Releases an Update on the Work Program at Its 14,077 Hectare North Rackla Claim Block Cantex Mine Development Corp. has released an update on the work program at its 14,077 hectare North Rackla claim block where drill results continue to define a lead-zinc-silver mineralized system with Broken Hill Type (BHT) affinities. First hole testing the newly discovered GZ Zone intersects strong massive sulphides Rock samples collected during prospecting define a new gold rich zone and an extremely rich silver-copper zone. Initial results are available for Main Zone drilling at pads MZ34 and MZ3X including YKDD20-159 intersecting several high grade zones significantly extending the depth of known mineralization to 550 metres below surface Drilling continues. Trenching was conducted in the vicinity of six near-source talus boulders that averaged 281 g/t silver, 18.93% lead and 32.29% zinc located about 550 metres southeast of drill pad MZ 5 in the exceptionally high-grade Extension Zone. The location is shown adjacent to drill pad GZ01. Trenching was completed to a depth of 6 metres but bedrock was not encountered over the mineralized zone. However, massive sulphide boulders were found in the bottom of the trench and are believed to be very close to source. Eight additional sub-outcrop and talus sample results are now complete and reported in Table 1. Similar to the initial samples taken upon discovery, they contain extremely high values of silver, lead and zinc with contents ranging up to 395 g/t silver, 63.65% lead and 43.86% zinc. With the trenching supporting a proximal source a drill hole was oriented at an azimuth of 225 degrees and inclination of -45 degrees at the exceptionally mineralized sub-outcrop. This drill hole intersected strong silver-lead-zinc massive sulphides and vein mineralization between 73.15 and 80.9 metres. This intersected mineralization is similar in style to the highest-grade mineralization intersected from pad MZ05 at the Extension Zone to the northwest. Owing to the glacial overburden and talus cover it is not presently possible to determine if the new GZ Zone is a folded continuation of the Extension Zone. Alternatively, it is also possible the sulphide mineralisation is fault controlled and a new, strongly mineralised structure has been discovered. During September several of the anomalous areas as defined by soil-talus sampling within the North Rackla claims were prospected by Chad Ulansky. Results from the first 26 of 107 rock samples collected have been received. Eight of the samples are reported in the GZ Zone section above and 11 samples are reported in Table 2. Table 2 presents rock sample results from two discrete anomalies (G14 and B39). The locations of these anomalies are presented in the map contained within the July 9, 2020 press release. The six samples collected from Anomaly G14 were collected along a 60 metre length and contained elevated gold values of up to 24.40 g/t. Five samples collected from anomaly B39 stretch over 170 metres and contain exceptional silver values and elevated copper contents. These samples average 3,411 g/t (109 ounces per tonne) silver and 2.73% copper.