These are excellent results, Matt.
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Cancor results from phase I exploration on Gemini
Cancor Mines Inc KCR
Shares issued 14,210,018 Apr 15 close $0.45
Fri 16 Apr 99 News Release
Mr. A. Khobzi reports
The company has released the results of its successfully-completed phase I
drilling program on the Gemini property, including the latest five diamond
drill holes, bringing the total to nine holes. The first five holes yielded
highly significant results as announced in Stockwatch, March 11, 1999, and
confirm the base metal volcanic-massive-sulphide (VMS) zone.
New results from DDH 87770 were particularly outstanding with results
surpassing the discovery hole, DDH 87760, and yielding 9.67 per cent zinc,
0.20 per cent copper, 57.40 grams per tonne silver and 3.48 grams per tonne
gold over 12.81 metres including 11.73 per cent zinc, 0.16 per cent copper,
60.18 grams per tonne silver and 5.0 grams per tonne gold over 8.27 metres.
The excellent results for phase I include the following achievements:
confirmation of a base-metal massive-sulphide zone rich in zinc, gold and
silver with cores varying between two and 13 metres in length; confirmation
of an exhalative breccia zone enriched with copper and gold between 1.50
and seven metres in width and located directly at the footwall of the zinc
zone; the drilling pattern averaging 100 metres in length by 100 metres in
width allowed the company to define a sulphide area of 300 metres in depth
over 300 metres in extension north-south, for a total mineralized surface
of 90,000 square metres. The drilled area is still open to the north, the
south and at depth.
The company is well-financed to continue the second phase of its drilling
program which will resume after spring break-up.
The results of the latest five diamond drill holes are included in the
following table:
Zone
------ Width Cu Zn Ag Au
DDH (m) % % (g/t) (g/t)
----- ----- ---- ----- ------ -----
Zinc
87760 8.76 0.02 12.29 208.16 1.15
87762 3.00 0.02 5.07 47.07 1.22
87770 12.81 0.20 9.67 57.40 3.48
Copper
87762 5.05 1.04 0.17 25.90 0.90
87765 5.50 2.04 0.05 29.50 1.76
87766 4.90 1.03 1.50 25.50 0.19
87767 1.45 0.26 0.42 8.96 0.16
87769 7.00 0.98 0.48 22.34 0.40
Further details on the last five diamond drill holes (DDH) are as follows:
DDH 87765 is located on the same geological section as the discovery hole
(87760) and is 100 metres below 87762. It intersects the VMS horizon, which
becomes exhalative breccia composed of disseminated sulphides and
chalcopyrite-rich stringers between 503.6 and 507.9 metres (4.3 metres).
This zone yielded 0.48 per cent copper, 0.24 per cent zinc and 12.70 grams
per tonne silver over 3.4 metres including a 0.90-metre section containing
1.19 per cent copper, 0.86 per cent zinc, 6.25 grams per tonne silver.
Further down the hole, another rich chalcopyrite stringer was undercut
resulting in 2.04 per cent copper, 0.05 per cent zinc, 29.50 grams per
tonne silver and 1.76 grams per tonne gold over 5.50 metres including a
1.40-metre section containing 3.6 per cent copper, 0.08 per cent zinc,
46.80 grams per tonne silver and 6.25 grams per tonne gold.
DDH 87766 was targeted 100 metres north of the discovery hole and
intersects the VMS zone between 577.50 and 582.4 metres (4.9 metres). It is
composed mainly of pyrite and chalcopyrite stringers within an exhalative
breccia. The results are 1.03 per cent copper, 1.50 per cent zinc, 25.50
grams per tonne silver and 0.19 grams per tonne gold over 4.90 metres.
DDH 87767 is located 200 metres north of the discovery hole and cuts
through the VMS zone between 536.75 and 538.20 metres (1.45 metres). The
zone is composed of pyrite and a little chalcopyrite and sphalerite. The
results are 0.26 per cent copper, 0.42 per cent zinc, 8.96 grams per tonne
silver and 0.16 grams per tonne gold over 1.45 metres.
DDH 87769 targeted the base metal zone at 600 metres below the surface, on
the same section as the discovery hole 87760, and intersects an exhalative
breccia with pyrite, chalcopyrite and sphalerite between 671.40 and 731.0
metres (59.60 metres). This breccia contains mostly disseminated to
semi-massive sulphides (40 per cent) on distances from one to three metres.
The sought-after base-metal sulphide zone merges within these intervals.
Results are as follows: 0.98 per cent copper, 0.48 per cent zinc, 22.34
grams per tonne silver and 0.40 grams per tonne gold over seven metres
including 1.34 per cent copper, 0.93 per cent zinc, 29.85 grams per tonne
silver and 0.75 grams per tonne gold over 3.20 metres.
DDH 87770 is located 50 metres south of drill hole 87760 and targeted the
base-metal sulphide zone 350 metres below the surface. This hole intersects
the sulphides between 359.50 and 382.55 metres (23.05 metres). Within this
zone, between 369.74 and 382.55 metres (12.81 metres), a rich sphalerite
zone averaging 80 per cent pyrite and 15 per cent sphalerite yielded the
following results: 9.67 per cent zinc, 0.20 per cent copper, 57.40 grams
per tonne silver and 3.48 grams per tonne gold over 12.81 metres including
11.73 per cent zinc, 0.16 per cent copper, 60.18 grams per tonne silver and
five grams per tonne gold over 8.27 metres.
These diamond drill holes are BQ in size. The core was first logged and
then sampled by the geologist. During sampling, it was split thus
preserving half of the core. These samples vary between two and three
kilograms each and were sent to Intertek Testing Services (Chimitec)
laboratory in Val D'Or. The assays for copper, zinc, lead and silver were
analyzed by atomic absorption with an aqua regia digestion, and for gold by
fire assay (30 kilograms). The highest values were submitted for a second
assay with multiacid digestion.
The company is presently compiling and processing detailed geoscientific
and lithogeochemical data. This information will allow us to determine the
vectors of metallic concentrations within the entire zone B (on 1,000
metres north-south extension) as well as assisting in locating future
drilling targets.
(c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com |
