- Cantex (TSXV:CD) has halted exploration at its North Rackla project in the Yukon after a massive spill of a cyanide solution at Victoria Gold’s nearby Eagle Mine late last month
- The decision follows a request by the First Nation of Na-Cho Nyäk Dun, on whose traditional territory the projects reside, to temporarily pause all mining activity on its land
- Cantex Mine Development is focused on the acquisition and exploration of mineral properties for commercial deposits
- Cantex stock has given back 37.50 per cent year-over-year and 97.52 per cent since 2019
Cantex (TSXV:CD) has halted exploration at its North Rackla project in the Yukon after a massive spill of a cyanide solution at Victoria Gold’s nearby Eagle Mine late last month.
The decision follows a request by the First Nation of Na-Cho Nyäk Dun – on whose traditional territory the projects reside – to temporarily pause all mining activity on its land. The request is meant to free up resources to address the spill, which has yet to be contained, in addition to numerous ongoing forest fires in the community.
Cantex management thanked first responders in Tuesday’s news release, and intends to continue its 2024 drilling program as soon as the request is lifted to expand copper mineralization encountered in the first three holes.
The North Rackla project
The junior miner’s 20,000-hectare North Rackla project, located 150 km northeast of Mayo in the Yukon, features over 75,000 m of drilling defining high-grade gold-copper-silver-lead-zinc-germanium mineralization over 2.3 km of strike length and up to 700 m deep. Highlight grades from the 100-per-cent owned project reached as high as 7.32 per cent copper in April 2023.
About Cantex Mine Development
Cantex is focused on the acquisition and exploration of mineral properties for commercial deposits.
Cantex stock (TSXV:CD) is down by 7.41 per cent, trading at C$0.12 per share as of 1:09 pm ET. The stock has given back 37.50 per cent year-over-year and 97.52 per cent since 2019.
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(Top photo of drilling at Cantex’s North Rackla project in the Yukon: Cantex Mine Development)