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Gold/Mining/Energy : Trump's 12 Diamond Picks, Discussions Limited -- Ignore unavailable to you. Want to Upgrade?

To: VAUGHN who wrote (2001)	4/8/1999 12:37:00 PM
From: VAUGHN	Respond to of 2251

A follow up: Cantex Mine Development Ltd. Update on Greenland Diamond Project and Paul-Mike Project KELOWNA, April 8 /CNW/ - Cantex Mine Development Corp. is pleased to report progress on the heavy mineral processing of bulk till samples collected down-ice from airborne geophysical targets on its 20%-owned joint venture exploration project with Dia Met Minerals Ltd. (31%) and Citation Resources Inc. (49%) for diamonds in west Greenland. Of the 505 follow-up samples completed 30 contained highest priority diamond indicator minerals and an additional 61 contain moderate to high priority diamond indicator minerals. The highest priority samples mostly contain G10 garnets that rate between 6 and 10 on Gurneys scale of 1 to 10 for G10 garnets and between 4 and 6 for the samples containing moderate to high priority indicator minerals. The Gurney scale was developed by John Gurney, professor of Geochemistry at Capetown University and one of the world's foremost authorities on diamond indicator mineral geochemistry. Such high quality G10 garnets are known to originate from kimberlites of very high and moderate to high diamond grades respectively on a worldwide basis and equal in quality to results from the Lac de Gras, NWT diamond mine area. Results from an additional 57 follow-up samples are anticipated by April 10, 1999. Ground geophysical crews have been dispatched to Greenland so that drill targets can be established up-ice from the highest priority diamond indicator anomalies. It is anticipated high priority targets in lakes will be drilled this spring with land based targets scheduled for the summer of 1999. Cantex also reports that a single, deep vertical core hole has been completed to a 1530 meter depth on the Paul-Mike project situated between the Sullivan lead-zinc-silver mine and the past producing Kootenay King lead-zinc-silver mine. The Lower-Middle Aldridge contact (the contact hosting the Sullivan mine) was intersected at about 1331 meters. The contact zone hosts a highly favorable thickened dark-grey to black pyritic mudstone between 1010 meters and the contact at 1331 meters. The mudstone is moderately to highly anomalous in lead-zinc-silver over a 162-meter interval as a result of localized disseminated galena-sphalerite mineralization observed as being present in the core. Although no commercial massive sulphide mineralization was intersected, the lead-zinc-silver anomalous intersection is also accompanied by widespread boron and sodium anomalics suggesting that the hole is potentially peripheral to the massive lead-zinc-silver mineralization sought for. However, the down hole pulse electromagnetic geophysical tool was blocked at a depth of 1210 meters and therefore massive mineralization was unfortunately not detected with geophysics. Additional drilling, although warranted, is being postponed until lead-zinc-silver commodity prices and demand strengthen. The Paul - Mike Joint Venture project is Dia Met (51%) and Cantex (49%). SIGNED ON BEHALF OF THE BOARD OF DIRECTORS CHARLES E. FIPKE, GEOLOGIST & DIRECTOR The Alberta Stock Exchange has neither approved nor disapproved the information contained in this release. Regards