Significant geophysical results on Cancor's Gemini Property
MONTREAL, Jan. 26 /CNW/ - Cancor Mines Inc. is pleased to announce the
results of its most recent geophysical surveys done on the Gemini project.
These results follow the announcement on September 2, 1998 of a major
discovery of massive sulphide mineralization, intersected in hole no 87760 and
averaging 12.2 % Zn, 2.29% Pb, 0.02% Cu, 208.16 g/t Ag. 1.15 g/t Au over a
core lenght of 8.76 meters.
Further to these impressive findings, a high-powered Induced Polarization
(I.P.) survey was performed to investigate the continuity at depth of this
intersection. The Company, Val D'Or-Sagax, geophysical experts, conducted the
survey over 16 line km and detected another significant anomaly striking SE-NW
extending over 800 meters and topping at 250 meters from the surface.
Simulation software (SIMU) was then used by Val d'Or-Sagax geophysicists to
compare the hypothetical model with the field data. The interpretation
suggests a significant body with a width of 150 meters and a minimum content
of 15% sulphides. A gravimetric survey was then conducted and confirmed the
size of the I.P. anomaly. It concluded that the feature extends over the
entire survey grid (700 meters) and covers a width of 100-200 meters at depth
of between 200-300 meters.
These significant results within a massive sulphide environment points to
priority targets for the drilling program.
Proceeds from the recently completed financing of $ 988 000 (see press
release dated December 23, 1998) will be used to carry out exploration work on
this project. A geological team is currently putting together a drilling
program aimed at the initial base-metal discovery and this new anomaly.
Cancor Mines Inc. is a Canadian mining company dedicated to the
exploration and development of gold and base-metal properties in recognized
mining camps throughout Canada.
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