202612 releases
Additional Finder's Fees and Finder's Warrants Disclosure
A correction was issued to the finder's warrant terms disclosed in the September 18, 2026 news release on the closing of the oversubscribed private placement: the 70,000 non-transferable finder's warrants issued on the final tranche are exercisable at $0.40 per share for two years, not $0.25 as previously stated. The final tranche also involved $18,000 in cash finder's fees. Across all three tranches, total fees were $55,450 in cash and 196,000 finder's warrants.
NewsCantex Closes Final Tranche of Oversubscribed Private Placement and Raises $3.82M
The final tranche of a private placement closed for proceeds of $883,350 through the issuance of 200,000 flow-through shares at $0.30 and 3,293,400 units at $0.25, each unit including one-half warrant exercisable at $0.40 for two years, bringing total proceeds to $3.82M following first and second tranches of $1,929,900 and $1,006,000. Chairman Dr. Charles Fipke subscribed for 400,000 units for $100,000. Proceeds will fund the North Rackla Project in the Yukon and general working capital. Finders received $18,000 cash and 70,000 warrants.
FinancingCantex Closes Second Tranche of Private Placement
Gross proceeds of $1,006,000 were received on the second tranche of Cantex Mine Development's private placement, through the issuance of 2,400,000 charity flow-through units at $0.3625, 110,000 flow-through shares at $0.30 and 412,000 hard units at $0.25, with half-warrants exercisable at $0.40 for two years. Funds will go to the 100%-owned North Rackla Project in Yukon and general working capital. A first tranche closed August 12, 2026 for $1,929,900; finders fees were $2,100 and the hold period expires January 12, 2027.
FinancingCantex Upsizes Private Placement
The previously announced private placement has been increased to $3,500,000, with all other terms unchanged. The offering comprises charity flow-through units at $0.3625 (one flow-through share plus half a warrant), hard units at $0.25 (one common share plus half a warrant) and flow-through shares at $0.30 with no warrants; whole warrants are exercisable at $0.40 for two years. A first tranche closed August 12, 2026 for gross proceeds of $1,929,900. Proceeds will fund critical mineral exploration at the North Rackla project in the Yukon and general operating costs, subject to TSX Venture Exchange acceptance.
FinancingCantex Closes First Tranche of a Non-Brokered Private Placement
The first tranche of a non-brokered private placement closed for gross proceeds of $1,929,900, comprising 4,428,000 charity flow through units at $0.3625, 283,333 flow through shares at $0.30 and 959,000 hard units at $0.25, with half warrants exercisable at $0.40 for two years. Finders received $35,350 in cash and 126,000 warrants at $0.40. Proceeds will fund drilling of gold, copper and silver-lead-zinc-germanium targets at the North Rackla projects in the Yukon, subject to TSX Venture Exchange acceptance.
FinancingCantex to Complete Financing involving Crescat Capital to Drill Silver-Lead-Zinc-Germanium Massive Sulphide, Copper and Gold on its North Rackla Claims, Yukon
A non-brokered private placement for gross proceeds of up to C$3,000,000 will be undertaken, comprising charity flow-through units at $0.3625, flow-through shares at $0.30 and hard units at $0.25, with CFT units and Units each including one-half warrant exercisable at $0.40 for two years. Crescat Capital is increasing its investment through the placement. Proceeds will fund critical mineral exploration at the 100%-owned 14,000 hectare North Rackla project in Yukon, where drilling is underway, and general operating costs.
FinancingCantex's Announces Commencement of 2026 Drill Program North Rackla, Yukon
Drilling has begun at Cantex Mine Development's 100-percent owned silver-lead-zinc-germanium North Rackla project in the Yukon. The program targets expansion of the strike length and depth extent of the silver-lead-zinc-germanium mineralization, and will also test newly discovered anomalous gold targets and areas where prospecting found high grade copper and silver-lead-zinc on the 14,077 hectare property.
Drill resultsCantex's Announces Outstanding Preliminary Flotation Results; Achieves Premium-Grade Lead and Zinc Concentrates with Strong Silver Credits at North Rackla
Preliminary flotation testwork at ALS Kamloops Metallurgy on the 100%-owned 14,077 hectare North Rackla claim block in the Yukon produced lead and zinc concentrates exceeding 45% metal purity. High-grade sulphide composites gave 85.1% lead recovery at 53.6% Pb and 80.6% zinc recovery at 61.8% Zn, while low-grade composites gave 91.1% lead recovery at 51.0% Pb and 88.4% zinc recovery at 51.0% Zn. Lead concentrates assayed 960 g/t Ag (HG), 532 g/t Ag (LG) and 410 g/t Ag (oxide, 53.0% Pb).
Study resultsCantex's Metallurgical Test Work Demonstrates Successful Sorting for Sulphide Mineralization at North Rackla Project in Yukon ,Canada
X-ray transmission sorting tests on 100 drill core pieces from the 100%-owned, 14,077 hectare North Rackla claim block in Yukon sent 95.0% of silver, 97.8% of zinc and 97.9% of lead to a concentrate stream containing 70% of the mass. The metallurgical program, begun in January 2026 with ALS Kamloops Metallurgy and Base Met Labs, tested oxide, high grade sulphide and low grade sulphide composites of half split HQ core, and included mineralogy and comminution work supervised by JDS Energy & Mining.
Study resultsCantex Commences Metallurgical Study, Plan for 2026 Drilling at North Rackla Project in Yukon, Canada
A metallurgical testwork program has begun on the Massive Sulphide silver-lead-zinc-germanium project at the 100%-owned, 14,077 hectare North Rackla claim block in Yukon, with JDS Energy and Mining Inc. managing the work under senior metallurgist Shane Tad Crowie, PEng. A late-2025 hole testing a 150m northeast step-out intersected sulphide mineralization, with germanium assays and results from three holes at the B43 anomaly pending. The 2026 program will extend Main Zone strike length and test new regional targets using a new heli-portable drill.
Study resultsCantex Announces Stock Option Grant
An aggregate of 2,100,000 stock options have been granted to certain directors, officers and consultants under Cantex Mine Development Corp.'s Stock Option Plan. The options are exercisable at $0.30 with a 7-year term expiring January 16, 2033, and vest in their entirety at the end of 5 years. If an optionee ceases to be a bona fide service provider before vesting, a pro rata portion vests and the remainder is cancelled.
Corporate
20258 releases
Cantex Announces Closing of Oversubscribed Private Placement; Raises $5.28 Million
A non-brokered private placement closed on August 14, 2025 for gross proceeds of $5,282,391.80, comprising 21,333,332 charity flow-through units at $0.21 and 5,731,372 hard units at $0.14, each unit including a warrant exercisable at $0.21 for three years. Crescat Capital and Rob McEwen increased their investments. Finders received $151,969 in fees and 1,067,996 warrants. Proceeds will fund the summer drill program, now commenced, at the 100%-owned North Rackla project in Yukon, Canada.
FinancingCantex Announces Closing of First Tranche of a Non-Brokered Private Placement
The first tranche of a non-brokered private placement closed for gross proceeds of $1,818,791.87, comprising 4,839,999 charity flow-through units at $0.21 and 5,731,372 hard units at $0.14, each unit including a warrant exercisable at $0.21 for three years. 0974052 B.C. Ltd., controlled by Chairman Dr. Charles Fipke, subscribed for 3,571,429 Units for $500,000. Finders received $36,652 cash and 391,692 warrants. Proceeds will fund critical mineral exploration at the North Rackla project in the Yukon and general operations.
FinancingCrescat Increases Investment and Cantex Upsizes Private Placement to $5 Million
A previously announced private placement has been increased to $5,000,000 in gross proceeds, comprising 21,261,903 charity flow-through units at $0.21 and 3,821,429 hard units at $0.14, each unit including one warrant exercisable at $0.21 for three years, subject to TSX Venture Exchange acceptance. Crescat Capital raised its participation to $800,000. Proceeds will fund a summer drill program at the North Rackla project in Yukon, targeting the zinc-lead-silver-germanium massive sulphide project and the copper project, where drilling previously intersected up to 7.32% copper.
FinancingCantex to Complete Financing Involving Crescat Capital to Drill High Grade Copper, Massive Sulphide and Gold on it North Rackla Claims, Yukon
A non-brokered private placement for gross proceeds of up to C$3,000,000 will fund summer drilling at the 100%-owned North Rackla project in Yukon. The Offering comprises charity flow-through units at $0.21 and hard units at $0.14, each with one three-year warrant exercisable at $0.21; Crescat Capital and Rob McEwen are increasing their investments, and 0974052 B.C. Ltd., controlled by Chairman Dr. Charles Fipke, will subscribe for 3,571,429 Units for C$500,000. Closing remains subject to TSX Venture Exchange acceptance.
FinancingCantex Plans Drilling for Gold and Silver-Copper in Addition to Copper and Massive Sulphide Silver-Lead-Zinc-Germanium Projects at North Rackla, Yukon, Canada
2025 exploration plans were outlined for the 100%-owned 14,077 hectare North Rackla claim block in Yukon. Drilling will target expansion of the Massive Sulphide silver-lead-zinc-germanium mineralization, now drill-confirmed over 2.65 kilometres and open along strike and to depth, plus induced polarization/conductivity conductors at the Copper Project, where hole YKDD24-287 returned 2.9 metres of 4.54% copper. Additional drill sites will be selected at the Northern Gold Area, G67 gold anomaly and G14 silver-copper anomaly. Metallurgical test work is also being initiated.
Drill resultsCantex’s North Rackla Project Contains High Critical Metal Germanium Values in Yukon, Canada
Germanium results from the 100%-owned 14,077 hectare North Rackla claim block in the Yukon were summarized, with 595 sphalerite LA-ICPMS analyses from 97 intercepts at the Main Zone averaging 654 grams per ton germanium and 77 analyses from 14 intercepts at the GZ Zone averaging 521 grams per ton. Bulk core analyses from the 2024 drill program confirmed silver-lead-zinc-germanium mineralization over a drill-confirmed strike length of 2.65 kilometres. Germanium traded at US$2.11 per gram on April 12, 2025.
Drill resultsCantex Receives Germanium Results of Up to 180g/t from Drilling at the Main Zone at its Silver-Lead-Zinc North Rackla Project, Yukon, Canada
Germanium assays from the 2024 drilling program at the Main Zone of the 100%-owned 14,077 hectare North Rackla project in Yukon include 2.53 metres of 180 g/t germanium with 93 g/t silver, 11.43% lead and 32.68% zinc in hole YKDD24-320, within a 6.09 metre zone of 98 g/t germanium, 53 g/t silver, 6.01% lead and 19.47% zinc. Hole YKDD24-315 returned 9 metres of 171 g/t germanium, 96 g/t silver, 5.27% lead and 28.81% zinc, within 15 metres of 117 g/t germanium.
Drill resultsCantex Drills Another Outstanding Intersection of 9 Metres of 34.08% Lead-Zinc and 96 G/T Silver at its North Rackla Project in the Yukon
Base metal results from the remaining 2024 drill holes at the 100%-owned 14,077 hectare North Rackla project in Yukon extended the Main Zone strike length by 300 metres to 2.65 kilometres, with mineralization open along strike and at depth. Hole YKDD24-315 returned 9 metres of 34.08% combined lead-zinc and 96 g/t silver within 15 metres of 22.87% lead-zinc and 62 g/t silver, and YKDD24-312 cut 25.04 metres of 4.62% lead-zinc. Germanium results are pending.
Drill results
202415 releases
Cantex Announces Private Placement
A $600,000 non-brokered private placement has been arranged, consisting of 4,000,000 flow-through shares at $0.15 per share, with a four month hold period expiring April 24, 2025. Finders fees of $36,000 were charged and 200,000 finders warrants will be issued, each exercisable at $0.15 for two years from closing. Proceeds will fund qualified critical mineral exploration expenditures at the North Rackla project in the Yukon, subject to TSX Venture Exchange acceptance.
FinancingCantex Receives Approval for Private Placement
TSX Venture Exchange approval was received for a $600,000 non-brokered private placement, under which Cantex Mine Development Corp. issued 4,000,000 common flow through shares at $0.15 per share. The securities are subject to a four month hold period expiring April 24, 2025. Proceeds will fund qualified critical mineral exploration expenditures on the company's North Rackla project in the Yukon.
FinancingCantex Continues to Intersect World-Class Silver-Lead-Zinc +/- Germanium Grades and Extends its Strike Length by 300 Metres at its 100% Owned North Rackla Claims in the Yukon
Drilling at the Discovery Sector of the Main Zone at the 100%-owned 14,077 hectare North Rackla claim block in the Yukon extended the drill-confirmed strike length to 2.65 kilometres, a 300-metre increase this season, with mineralization open along strike and to depth. Results from 16 holes include 13.63 metres of 7.25% combined lead-zinc, including 2.40 metres of 25.82%, in YKDD24-302B, and 6.35 metres of 13.91%, including 2.10 metres of 27.63%, in YKDD24-303. The 2024 program totalled 33 holes and 6,000 metres; germanium results and 12 further holes are pending.
Drill resultsCantex Receives Exceedingly High Germanium Results from Drilling at the Main Zone at its 100% Owned North Rackla Claims in the Yukon
Germanium assays from five holes drilled in 2023 at the Main Zone on the 14,077 hectare, 100%-owned North Rackla silver-lead-zinc project in the Yukon returned up to 114 grams per tonne germanium, with results showing a strong correlation between germanium and zinc contents. Intervals included 2.85 m of 102.68 g/t Ge, 72.1 g/t Ag, 8.77% Pb and 16.3% Zn in hole YKDD23-285. Germanium prices have nearly doubled over the past three months to US$2.64 per gram.
Drill resultsCantex Announces Drill Confirmed Strike Extended to 2.6 Kilometres at its Silver-Lead-Zinc-Germanium Deposit on its 100% Owned North Rackla Claims in the Yukon
Drilling has extended the Main Zone mineralization strike length by 250 metres to 2.6 kilometres at the 100% owned North Rackla Project in the Yukon, with the zone drill confirmed to a depth of over 700 metres and remaining open along strike and to depth. Eight drill holes completed at the Discovery Sector since work restarted in late August all intersected silver-lead-zinc +/- germanium mineralization, with core logging reporting up to 3% chalcopyrite. Two drills continue at the Discovery Sector.
Drill resultsCantex 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
Assays from five holes at the Copper Project on the western side of the North Rackla property in the Yukon returned copper and silver mineralization in four holes, including 2.9 metres of 4.54% copper and 11.4 g/t silver in hole YKDD24-287 and 13 metres of 0.86% copper in YKDD24-288. Ground Induced Polarization–Conductivity and magnetic surveys were completed over the discovery area to target further holes. Drilling on the North Rackla claims will resume after the month-long pause requested by the First Nation of Na-Cho Nyäk Dun; results from nine Main Zone holes are pending.
Drill resultsCantex Announces Temporary Halt to Drill Program
All drilling and exploration activities at the 100%-owned North Rackla project in Yukon have been paused at the request of the First Nation of Na-Cho Nyäk Dun, which asked for a temporary halt to all mining and exploration in its Traditional Territory following the heap leach pad failure at Victoria Gold's Eagle Mine, 120 km from the project, and nearby forest fires. Cantex expects the drill program to continue in the near future.
Drill resultsCantex Announces Increase in Private Placement
The previously announced private placement has been increased to $1,500,000 due to added interest, with all other terms unchanged from the June 3, 2024 news release.
FinancingCantex Intersects Copper Mineralization in First Three Holes on its North Rackla Copper-Gold, Germanium and Base Metal Project in the Yukon
Three diamond drill holes completed since June 3, 2024 at the Copper Project on the western side of the North Rackla property, Yukon, intersected visible chalcopyrite. Hole YKDD24-287 cut 1.8 metres of an estimated 8% chalcopyrite in quartz carbonate breccia from 7.1 metres depth, YKDD24-288 cut 17 metres of an estimated 2% chalcopyrite from 9.5 metres, and YKDD24-289 cut 5.05 metres of an estimated 2% chalcopyrite from 3.3 metres. Core is being submitted for copper, gold and associated element analysis.
Drill resultsCantex Commences Drilling on its North Rackla Copper-Gold, Germanium and Base Metal Project in the Yukon and Announces $1.1 Million Private Placement
Drilling has begun on the Copper Project on the western side of the North Rackla property in the Yukon, where previous drilling intersected 2.5 metres of 3.93% copper including 1 metre of 7.32% copper. Drilling on the Massive Sulphide project is set to start in two weeks, with gold targets also being evaluated. A $1,100,000 non-brokered private placement of 9,166,666 common shares at $0.12 was arranged, with Dr. Charles Fipke investing $1,000,000 and Crescat Capital LLC $100,000.
Drill resultsCantex 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 where Previous Drilling Intersected 2.5m of 3.93% Copper
Drill results from five holes at the Discovery and Central Sectors of the Main Zone at the 14,077 hectare North Rackla project in Yukon include 8.35 metres of 24.5 g/t silver, 7.68% lead and 5.05% zinc in hole YKDD23-279, and, in hole YKDD23-285, 2.85 metres of 72.10 g/t silver, 8.77% lead and 16.30% zinc. Three holes at the Extension Sector returned no significant mineralization. Drilling begins in early June at the Copper Project, with a second drill added mid-June at the Discovery Sector.
Drill resultsCantex Announces Stock Option Grant
A total of 2,100,000 stock options have been granted to directors, officers and consultants under Cantex Mine Development Corp.'s Stock Option Plan. The options are exercisable at $0.50 with a seven-year term expiring April 26, 2031. They vest in their entirety at the end of five years, with a pro rata portion vesting and the remainder cancelled if an optionee ceases to be a bona fide service provider before vesting.
CorporateCantex Receives Excellent First Bulk Germanium Results from Main and GZ Zones at its 100% Owned North Rackla Project, Yukon
Bulk germanium assays were reported for 30 samples from the Main and GZ Zones at the 14,077 hectare North Rackla project in Yukon, with results from three of five analytical techniques evaluated showing tight precision. Values ranged from 2 ppm to 549 ppm germanium, with the highest from hole YKDD21-209 (36.45–37.15 m) grading 494–549 ppm Ge alongside 363 g/t Ag, 11.20% Pb and 42.59% Zn. Cantex will use the bulk technique on upcoming drill core.
Drill resultsCantex Confirms Elevated Germanium Results Along Entire Main Zone Strike Length on its 100% Owned North Rackla Project, Yukon
Germanium assays from 455 analyses of drill core across 61 intercepts from 31 pads spanning the 2.35 kilometre drill-confirmed strike length of the Main Zone at the 100%-owned 14,077 hectare North Rackla project in Yukon averaged 663 grams per tonne germanium in sphalerite, or 654 g/t when combined with 36 previously analyzed intercepts. At the GZ Zone, 57 analyses from 9 intercepts averaged 427 g/t germanium, or 521 g/t including five earlier intercepts.
Drill resultsCantex Closes Final Tranche of Over Subscribed Private Placement with a Further Investment By Crescat Capital LLC
The final tranche of Cantex Mine Development's private placement closed with proceeds of $200,200 from 770,000 units at $0.26 per unit, each unit comprising one non-flow-through share and one-half warrant exercisable at $0.39 for two years, with participation from Crescat Capital LLC. Across all four tranches the offering raised gross proceeds of $3,000,190 from 8,599,966 FT Units priced at $0.30 and 1,616,154 Units. Final tranche securities are subject to a hold period expiring May 13, 2024.
Financing
202317 releases
Cantex Closes Third Tranche of Private Placement
A third tranche of the private placement closed for proceeds of $250,000 through the issuance of 833,333 flow-through units at $0.30 per unit, each comprising a flow-through share and one-half warrant exercisable at $0.39 for two years. Proceeds will fund the North Rackla project in Yukon, and the securities are subject to a four-month hold expiring April 30, 2024. Total raised to date under the financing is $2,799,990.
FinancingCantex Closes Second Tranche of Private Placement
The second tranche of Cantex Mine Development's private placement closed with proceeds of $1,130,000 from 3,100,000 flow-through units at $0.30 and 769,231 non-flow-through units at $0.26, each unit including one-half warrant exercisable at $0.39 for two years. Rob McEwen participated through a controlled entity, bringing his holding to over 4.6 million shares. Finders fees of $65,100 cash and 217,000 finder's warrants were paid; securities are held until April 16, 2024. Proceeds will fund the North Rackla project in Yukon and working capital.
FinancingCantex Closes First Tranche of Private Placement
The first tranche of a previously announced private placement closed for gross proceeds of $1,419,990, through the issuance of 4,666,633 flow-through units at $0.30 and 76,923 non-flow-through units at $0.26, each unit including a half warrant exercisable at $0.39 for two years. Finders fees of $98,000 were settled with 376,920 units, plus 376,920 finders warrants; the securities are subject to a hold period expiring April 8, 2024. Proceeds will fund the North Rackla project in Yukon and general working capital.
FinancingRob McEwen Bring his Strategic Investment in Cantex to over 4.6 Million Shares
A non-brokered private placement of up to $3,000,000 will be undertaken, comprising flow-through units at $0.30 and non-flow-through units at $0.26, each with one-half warrant exercisable at $0.39 for two years. Rob McEwen has agreed to subscribe for $200,000 of non-flow-through units, bringing his holding to over 4.6 million shares. Proceeds will fund spring drilling at the 100%-owned North Rackla project in Yukon and general working capital, subject to TSX Venture Exchange acceptance.
FinancingCantex Intersects an Outstanding 89.25 Metres of Mineralization at its North Rackla Drill Project and Closes Final Tranche of Private Placement
Hole YKDD23-285, the final hole of the fall 2023 drill program at the Main Zone of the silver-lead-zinc-germanium massive sulphide project at North Rackla, Yukon, intersected 89.25 metres of mineralization from 416.75 to 506 metres depth; assays for silver-lead-zinc and germanium are pending. The final tranche of the private placement closed for $2,902,120 via 6,833,734 flow-through units at $0.30 and 3,276,923 units at $0.26, bringing total Offering proceeds to $3,823,485. Crescat Capital purchased 1,923,077 Units for $500,000.
Drill resultsCantex Intersects Strong Massive Sulphide in its First Hole Drilled in 2023 at North Rackla Project, Yukon
The first hole of the 2023 drill program at the North Rackla Project in Yukon, YKDD23-279, drilled at a -45° inclination into the Main Zone of the silver-lead-zinc-germanium mineralization, intersected 7.8 metres of massive sulphide from a depth of 82.5 metres. Drilling continues. The 100%-owned, 20,000-hectare property lies 150 kilometres northeast of Mayo, where over 60,000 metres of drilling has defined mineralization over 2.3 kilometres of strike length and 700 metres depth.
Drill resultsCantex Commences Drilling at North Rackla and Closes First Tranche of Private Placement
A first tranche of the previously announced private placement closed October 17, 2023, raising $921,365 through 1,424,550 flow-through units at $0.30 and 1,900,000 non-flow-through units at $0.26, each unit carrying a half warrant exercisable at $0.39 for two years; finders were paid $30,034 and 98,704 warrants. A second tranche is expected, with Crescat Capital LLP committed to investing up to $1,500,000. A drill crew has mobilized to the 20,000-hectare North Rackla project in Yukon.
Drill resultsCantex Announces Strategic Investment by Crescat Capital as Part of a C$5 Million Non-Brokered Private Placement
Crescat Capital LLC, in association with geologist Dr. Quinton Hennigh, is committing up to $1,500,000 to a $5,000,000 non-brokered private placement. The offering comprises flow-through units at $0.30 (one flow-through share plus one-half warrant) and non-flow-through units at $0.26 (one share plus one-half warrant), with each whole warrant exercisable at $0.39 for two years. Proceeds will fund the upcoming drill program at the 100% owned North Rackla project in the Yukon and general working capital.
FinancingCantex Extends Private Placement
The previously announced private placement is continuing, with an additional extension received. The final closing will occur on or before September 17, 2023.
FinancingCantex Provides an Update on Financing
Cantex Mine Development Corp.'s previously announced private placement is continuing, with a final closing set for on or before August 17, 2023.
FinancingCantex 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
Additional germanium analyses from the North Rackla project in Yukon returned up to 694 g/t at the Main Zone and up to 789 g/t at the GZ Zone, with zinc mineralization averaging 640 g/t and 690 g/t germanium respectively; 140 analyses from 36 intersections along 2,200 metres of strike have been completed at the Main Zone. Final results from eighteen 2022 drill holes included 3 metres of 24.78% lead-zinc and 59.4 g/t silver in hole YKDD22-252, including 1.5 metres of 45.28% lead-zinc. Regional sampling returned rock values up to 27.3% copper, 470 g/t silver, 60.72% lead and 45.77% zinc.
Drill resultsCantex Provides an Update on Financing
The TSX Venture Exchange has granted a 30-day extension of Cantex Mine Development Corp.'s private placement offering, effective from the date of this news release. The first tranche of the offering closed as announced on April 28, 2023.
FinancingCantex Closes First Tranche of Private Placement
Gross proceeds of $1,268,500 were raised in the first tranche of a previously announced private placement, through the issuance of 1,601,351 flow-through units at $0.37 and 2,112,500 non-flow-through units at $0.32, each unit including a half warrant exercisable at $0.45 for two years. Proceeds will fund the upcoming drill program at the North Rackla Project in the Yukon and general working capital. A company controlled by Chairman Dr. Charles Fipke subscribed for $1,000,000 and director Vernon Frolick for $10,000. A second tranche of up to $5 million is anticipated.
FinancingCantex Announces Private Placement
A non-brokered private placement of up to $1,400,000 in gross proceeds will be undertaken, comprising flow-through units at $0.37 and non-flow-through units at $0.32, each with one-half warrant exercisable at $0.45 for two years. Proceeds will fund the upcoming drill program at the North Rackla project in the Yukon and general working capital. The offering is subject to TSX Venture Exchange acceptance, with a four month hold period, and finder's fees may be paid.
FinancingCantex Extends Strike Length to 2,350 Metres and Confirms Elevated Germanium Results Along 2,000 Metres of Strike at the Main Zone on its 100% Owned North Rackla Project
Results from a further 21 holes of the 2022 drill program at the 14,077 hectare North Rackla project in Yukon extended Main Zone mineralization 50 metres northeast, bringing strike length to 2,350 metres. Hole YKDD22-262 returned 7.5 metres of 11.98% lead-zinc and 24 g/t silver, including 1.5 metres of 20.27% lead-zinc; YKDD22-260 returned 12.5 metres of 7.1% lead-zinc and 24 g/t silver. A regional copper target returned 2.5 metres of 3.93% copper, including 1 metre of 7.32%. New germanium analyses, 76 from 19 holes over 2,000 metres of strike, averaged 793 grams per tonne; 18 holes remain pending.
Drill resultsCantex Main Zone Enriched in Critical Metal Germanium on its 100% Owned North Rackla Project
Twelve laser-ablation ICP-MS analyses of sphalerite from four drill holes testing the Main Zone at the 100%-owned 14,077 hectare North Rackla claim block in the Yukon returned germanium values averaging 795 grams per tonne, ranging from 147 to 1,730 grams per tonne, with accompanying gallium and indium values. Germanium is listed as a critical element in Canada and the United States and sells for US$1.21 per gram. Cantex plans to test for germanium along the Main Zone strike length and at the nearby GZ Zone.
Drill resultsCantex Intersects 23.5 Metres of 8.34% Lead-Zinc at the Main Zone of North Rackla Project
Drilling at the Main Zone of the 100%-owned 14,077 hectare North Rackla project in Yukon returned 23.5 metres of 20.46 g/t silver and 8.34% combined lead and zinc in hole YKDD22-246, including 2.5 metres of 85.32 g/t silver and 24.72% lead-zinc. The five reported holes extended mineralization 150 metres northeast, bringing the Main Zone strike length to 2,300 metres. Cantex drilled 13,187 metres in 62 holes in 2022, with results pending from 46 holes.
Drill results
202214 releases
Cantex Closes Private Placement
A private placement closed for gross proceeds of $1,605,040 through the issuance of 5,203,852 flow-through units at $0.27 and 800,000 non-flow-through units at $0.25, each unit including one-half warrant exercisable at $0.35 for two years. Finders fees of $98,353 were paid, comprising $17,713 cash, 322,560 Units at $0.25 and 375,200 finders warrants, with securities subject to a hold period expiring March 19, 2023. Proceeds will fund the upcoming drill program at the North Rackla Project in the Yukon and general working capital. Insiders 0974052 B.C. Ltd. and Element 29 Ventures Ltd. subscribed for 400,000 and 200,000 Units respectively.
FinancingCantex Announces Private Placement
A fully subscribed non-brokered private placement will raise gross proceeds of $1,600,000, with closing expected November 18, 2022. The offering comprises flow-through units at $0.27 and non-flow-through units at $0.25, each with one share and one-half warrant exercisable at $0.35 for two years, subject to a four month hold period and TSX Venture Exchange acceptance. Proceeds will fund the upcoming drill program at the North Rackla project in the Yukon and general working capital.
FinancingCantex Extends Main Zone to Drill Confirmed 2,300 Metres on its 100% Owned North Rackla Project, Yukon
Drilling at the Main Zone on the 14,077 hectare North Rackla claim block in the Yukon extended mineralization 50 metres beyond 2021 drilling, with further drilling adding another 150 metres for a drill confirmed strike length of 2,300 metres. Hole YKDD22-244 returned 9 metres of 24.71 g/t silver and 9.69% lead plus zinc from 197 metres, and YKDD22-245 cut 7 metres of 37.53 g/t silver and 12.13% lead plus zinc. Eight GZ Zone holes returned no significant mineralization; 36 of 54 holes await results, with drilling resuming October 7.
Drill resultsCantex Intersects Three Zones Containing Massive Sulphides including 5 metres of 39% Lead-Zinc and 116 G/T Silver at GZ Zone on its 100% Owned North Rackla Project, Yukon
Drilling at the GZ Zone on the 100%-owned 14,077 hectare North Rackla claim block in Yukon returned 5.0 metres of 39.0% lead-zinc and 116 g/t silver in hole YKDD22-226, 11 metres of 11.7% lead-zinc and 36 g/t silver in YKDD22-224, and 9.0 metres of 18.0% lead-zinc and 59 g/t silver in YKDD22-228, including one metre of 29.0% lead-zinc and 93 g/t silver. All three holes were drilled from pad GZ2.5C. Of 36 holes completed in 2022, results from 29 are pending; drilling resumes August 20.
Drill resultsCantex Common Shares Qualified for Trading on the OTCQB Market in the U.S.
Cantex Mine Development's common shares have qualified for trading on the OTCQB Venture Market in the U.S. and commenced trading under the existing symbol CTXDF, an upgrade from the Pink Open Market. The shares continue to trade on the TSX Venture Exchange under the symbol CD. The shares are also now eligible for electronic clearing and settlement through the Depository Trust Company in the United States.
CorporateCantex Intersects 27.7 Metres of Semi-Massive to Massive Sulphides at Northeast End of Main Zone on Its 100% Owned North Rackla Project, Yukon
Hole YKDD22-246 at the northeast end of the Main Zone on the 100%-owned 14,077 hectare North Rackla project in Yukon intersected 27.7 metres of semi-massive to massive sphalerite and galena from 49.6 to 77.3 metres, occurring between 51 and 69 metres depth, with minor chalcopyrite with massive lead-zinc sulphides from 90.7 to 91.4 m. With hole YKDD22-239, the intersections extend the Main Zone to 2.15 kilometres. Core is being shipped for preparation and analysis at ALS Chemex.
Drill resultsCantex Continues to Intersect Massive Sulphides to Depth at Northeast End of Main Zone on Its 100% Owned North Rackla Project, Yukon
Hole YKDD22-241, drilled from pad MZ 52A at the northeastern end of the 2.15 km long Main Zone on the 14,077 hectare North Rackla claim block in Yukon, intersected several zones of massive to semi-massive sulphide mineralization, including 5.35 m from 154.75 to 160.1 metres and 6.45 m from 183.5 to 189.95 m, the latter 124 metres vertically below surface. HQ core has been split and shipped to CF Minerals in Kelowna for preparation before analysis at ALS Chemex in Vancouver. Drilling continues at the Discovery Target.
Drill resultsCantex Extends Main Zone Strike on Its 100% Owned North Rackla Project, Yukon
The first hole drilled at the Discovery Target within the Main Zone on the 14,077 hectare North Rackla claim block in the Yukon intersected massive sulphides with associated semi-massive and disseminated mineralization measuring 7.5 metres in length, extending the Main Zone strike length to 2.15 kilometres. The mineralization remains open to the northeast, where further drilling is planned. Split HQ core is being shipped to CF Minerals in Kelowna for preparation before analysis at ALS Chemex in Vancouver.
Drill resultsCantex Intersects Massive Sulphides in Three Drill Holes in the GZ Zone on Its 100% Owned North Rackla Project, Yukon
Massive sulphides have been intersected in three holes drilled this season at the GZ Zone on the 100%-owned 14,077 hectare North Rackla claim block in the Yukon, with intercepts including associated semi-massive and disseminated mineralization measuring 4.7, 14.0 and 8.1 metres in length. The GZ Zone lies 500 metres southeast of the Main Zone, where 2021 drilling returned 4.7% lead, 19.25% zinc and 101 g/t silver over 16.05 metres. Core has been split and is being shipped for preparation and analysis; drilling continues.
Drill resultsCantex Commences Drilling at North Rackla Project, Yukon
Drilling has begun at the 100-percent-owned 14,077 hectare North Rackla claim block in the Yukon, with two drills testing the GZ Zone at the Massive Sulphide project. The 2021 maiden program there returned 16.05 metres of 24% lead-zinc and 101 g/t silver, including 3.7 metres of 60% lead-zinc and 336 g/t silver. Later in the season drilling will target the Main Zone to extend its 2.1km strike length, plus regional targets.
Drill resultsCantex Announes Adoption of New Form 7% Rolling Share Option Plan
A new 7% rolling share option plan has been adopted, replacing the company's 2008 share option plan, following TSX Venture Exchange approval and shareholder approval at the Annual General Meeting held January 28, 2022. Shares issuable under the plan, together with all other share compensation arrangements, may not exceed 7% of issued and outstanding common shares. All outstanding options under the 2008 plan have been rolled into the new plan, which requires annual shareholder ratification.
CorporateCantex Intersects 6.0 Metres of 14.05% Lead-Zinc at GZ Zone on Cantex’s 100% Owned North Rackla Project, Yukon
Final 2021 drill results from the 14,077 hectare North Rackla project in Yukon include hole YKDD21-210 at the GZ Zone, which cut 6.0 metres of 14.05% combined lead-zinc with 9 g/t silver, while YKDD21-213 returned 4.5 metres of 17.63% lead-zinc and 28 g/t silver and YKDD21-214 returned 3.95 metres of 12.86% lead-zinc. At the Main Zone, YKDD21-208 intersected 3.15 metres of 19.00% lead-zinc and YKDD21-203 cut 3.4 metres of 13.39%. Drilling is expected to restart in mid-May, targeting extension of the Main Zone's 2.1 km drill-proven strike.
Drill resultsCantex Closes Private Placement
A private placement closed for gross proceeds of $5,360,032, through the issuance of 10,052,737 flow-through units at $0.38 and 4,812,475 non-flow-through units at $0.32, each unit including one warrant exercisable at $0.48 for two years. Proceeds will fund the upcoming drill program at the North Rackla Project in the Yukon and general working capital. Finders fees totalled $342,862, and the securities are subject to a hold period expiring August 2, 2022.
FinancingCantex Announce Private Placement
A fully subscribed non-brokered private placement will raise gross proceeds of up to $5,360,032, expected to close April 1, 2022, subject to TSXV approval. The offering comprises flow-through units at $0.38 and non-flow-through units at $0.32, each with one share and one warrant exercisable at $0.48 for two years. Proceeds will fund the upcoming drill program at the North Rackla project in the Yukon and general working capital. Securities carry a four-month hold period.
Financing