Nevada

OVERVIEW

Cantex has a 100% interest in 4 mineral properties in Nevada and has identified 7 drill-ready gold targets. These targets are the end result of an extensive exploration program. Initially, sampling surveys were conducted over known gold mines in Nevada to assess their geochemical signatures. A distinctive suite of pathfinder elements was found to accompany many of the mines. With this knowledge, a regional geochemical survey was conducted over the significant gold mine trends in Nevada. Numerous similar geochemical signatures were found and claims were then acquired over these areas. Once the lands were staked, focused exploration was undertaken; the anomalies were followed up with geological mapping, soil sampling, rock sampling, trenching and geophysics.

The properties contain 7 drill ready gold targets and one target which can be tested by surface trenching. The Company is currently seeking a partner to option these claims to fund the drill program.

Yemen

OVERVIEW

The Company has two projects in Yemen: Al Hariqah (Gold) and Al Masna (Nickel, Copper, Cobalt). These projects are currently under Force Majeure pending the end of the conflict in country.

Cantex has had a continuous presence in Yemen since 1996. Cantex initially secured an exploration license over 40,000 km2 and proceeded to complete the first modern comprehensive exploration of the area. This yielded the discovery of numerous mineralized areas. The most promising of these were the subject of focused exploration and include the Al Hariqah gold project and the Al Masna’a nickel copper project.

THE AL HARIQAH PROJECT

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  • Al Hariqah is a near-surface gold deposit located 130 km NW of Sana’a,Yemen.
  • Project is 60% owned by Cantex
  • Discovered during the follow up of anomalous gold values found in heavy mineral concentrates
  • Mapping, sampling and drilling have shown that gold mineralization occurs for a distance of nearly 4 km in two close, parallel, north northwest trending zones
  • These zones are up to 50 meters wide
  • Over 200 holes totaling 24,500 metres of drilling completed

 

CANTEX WORK

The Company has completed extensive work over the Al Hariqah project. This work includes comprehensive surface sampling, geologic mapping and over 24,500 metres of drilling in 200 holes. This work has shown the potential of the mineralization.

 

The Company believes that the northernmost 1,000 metres of the 3,700 metre long Al Hariqah mineralization has the potential for 400,000 to 3,000,000 oz Au contained within 13 to 52 Mt grading 1.0 to 1.8 g/t Au. This is based on previous exploration on the property, including over 200 drill holes totaling 24,500 metres. The exploration target potential was derived by the study of the surface geology and the drill intersected mineralization at depth. The volume of the modeled areas determines the potential tonnage statement in the exploration target with the rock having a specific gravity of 2.6 t/m3. The grade range given in the exploration target is determined with consideration to the drill results within the modeled exploration target area and consideration of the geological setting. The potential tonnages and grades are conceptual in nature and are based on previous drill results that defined the approximate length, thickness, depth and grade of the mineralization. The gold grades recovered are typical of those found in open pit mines. There has been insufficient exploration to define a current mineral resource and the Company cautions that there is a risk further exploration will not result in the delineation of a current mineral resource

An enlargement of the northern portion of the above map is displayed below:

THE AL MASNA PROJECT

The Al Masna’a nickel, copper, cobalt project is located in the Saadah region some 205 km north-northwest of the capital city, Sana’a, and 25 km south of the border with Saudi Arabia.

Anomalous nickel and copper values have been found in heavy mineral concentrates in a number of heavy mineral samples collected in the region while variably anomalous results for cobalt and platinum occur in follow up drainage, soil and rock samples. Most of the anomalous values occur in an area underlain by layered gabbroic rocks. Soil surveying around a mineralized drill hole at Al Masna’a identified several anomalous zones of copper, nickel, cobalt, platinum, palladium and rhodium.

The evidence to date strongly suggests that the high nickel values discovered in the Al Masna drill hole are not an isolated occurrence and that there is good probability of discovering extensions to this mineralized zone, as well as new zones of nickel mineralization. The results of the sampling to date identify one or more zones of mineralization with a strike length of at least 4.5 kilometers. The zone is open to the north.

Drilling is planned to test the IP, TEM and nickel soil geochemical anomalous zones in the Al Masna’a area with the objective of determining the grade and distribution of nickel and copper in the iron sulphide horizons.