The Company’s primary project is located approximately 100 kilometers northeast of Mayo, Yukon Territory, Canada, where the Company has 10 claim blocks covering approximately 30,000 hectares around a new belt of gold mineralization.
A new belt of gold mineralization has been discovered by ATAC Resources Ltd. (“ATAC”) in the Yukon: a 175 kilometer east – west trending zone located 100 kilometers northeast of Mayo. The belt was discovered principally by follow up prospecting and drilling of arsenic anomalies that were detected by a government sponsored stream sediment survey.
The gold mineralization appears geologically similar to Carlin style mineralization in Nevada, which is the second largest gold district in the world. Recent drilling by ATAC has discovered Carlin type gold intersections of up to 65.2 meters of 4.65 g/t gold near the eastern extremity of the east – west trending zone.
Consequently, Cantex has staked an approximately 1,045 hectare claim block adjacent to the eastern extremity of ATAC’s claim block which is on strike with the recent Carlin style mineralization discovered by ATAC. In addition, an approximately 1,000 hectare claim block has been staked over the source area of several arsenic anomalies as reported on the government stream sediment maps located 15 km southeast of ATAC’s Rau gold deposit which is situated towards the western end of their staked zone.
The second project is in Nevada, USA where the Company has a 100% interest in 6 gold exploration prospects secured with 140 claims.
The Company’s also has a significant project located in the northwestern part of the Republic of Yemen where it holds exclusive exploration licenses over a 1,400 square kilometer area prospective for Gold, Nickel, Copper, Cobalt and Platinum. This project is currently under force majeure.
Cantex President & CEO, Chad Ulansky P.Geol., is a Qualified Person under National Instrument 43-101 and is responsible for the technical content herein.