Hello Folks:
Here is the most recent Cancor press release.
Midas
New massive sulphides targets discovered on Gemini
Cancor is pleased to announce the discovery of
two new potential zones for base and precious metal deposits on the Gemini
property. The results of a recent geochemical survey revealed two new metallic
targets in two previously unexplored areas.
These findings once again confirm the property's strong base and precious
metals potential. Cancor fully expects to explore these two new targets
during this summer's extensive drilling campaign.
The new target findings are described as follows:
- First, a zinc, lead, arsenic, and mercury anomaly surrounds
gold-bearing Zone A and coincides with an electrical conductor not
yet tested by drilling. The presence of mercury and arsenic
suggests that this anomaly reflects gold-bearing minerals. These
two geochemical elements are very good indicators of this type of
mineralization. The high gold content of up to 14.90 g/t (0.43 oz/t)
of gold in adjacent reverse circulation till samples supports this
fact.
- Secondly, a zinc-lead anomaly is located in an unexplored area north
of Zone B in the central part of the property. It appears to be
directly related to the felsic tuffs of the productive host horizon
of massive sulphide Zone B. The till samples taken south of Zone B
also have high grades of zinc which suggests a distal origin of
several kilometers pointing to the new target.
An independent, qualified professional geochemist prepared the
compilation (April 2000 report). He processed the geochemical data from
various exploration surveys over the past 15 years. The Quebec Ministry of
Natural Resources carried out the geochemical soil survey. More than 5,200
humus samples were taken throughout the territory, at a density of one per
km2. The second survey consisted of approximately 100 till samples from
reverse-circulation drilling completed on the property in 1992. All samples
were assayed for some 20 different chemical elements.
The Gemini property is located in Laberge and Casa Berardi townships,
south of the Casa Berardi gold mines in Abitibi. It contains a belt of felsic
rock extending over 20 km, with excellent potential for the discovery of base
and precious metal deposits.
The acquisition and development of base metal and gold projects in
established mining areas remains the cornerstone of our corporate strategy.
All Cancor Mines Inc. press releases are available at the Company's
website: www.cancor.ca. For further information, please contact Company
President Kamil A. Khobzi at (514) 849-3013. |
