Cancor Mines Inc. - Base Metal Massive Sulfide Zone Confirmed by Drilling
MSE SYMBOL: KCR
MONTREAL, March 10 /CNW/ - CANCOR MINES INC. is pleased to announce the
results of its first five diamond drill holes on the GEMINI project in
Abitibi. Drilling of these holes was completed over two geological sections
located 100 meters apart. Within a 100 x 100 m drilling pattern, all five
holes targeted the base metal volcanic massive sulphide (VMS) zone discovered
in hole 87760 (12.29%Zn, 208.16 g/t Ag, 1.15 g/t Au, over 8.76 meters). The
drilling program is ongoing, but initial results are highly significant and
confirm the base metal VMS zone.
DDH 87761 & 87763 - The base metal VMS plunge is confirmed by these
diamond drill holes. They intersect barren VMS on the edge of the base metal
system. The metal content is anomalous.
DDH 87762 - The VMS horizon was targeted on the same section as 87760 but
100 meters below. The VMS zone was intersected between 408.86 and 415.80
meters (7.94 m). The zone is composed mostly of pyrite and sphalerite. Results
are the following: 5.07%Zn, 47.04 g/t Ag and 1.22 g/t Au over 3.0 meters.
DDH 87764 - Located 100 meters to the north of hole 87760, it cuts
through the VMS zone between 452.60 and 457.65 meters (5.05 m). Sulphides
consist mostly of pyrite (95%) and up to 5% chalcopyrite and are banded.
Results are as follows: 1.04% Cu, 0.17%Zn, 25.9 g/t Ag and 0.90 g/t Au over
5.05 meters. These findings become very significant as the appearance of
copper mineralisation may point toward the richer and thicker base metal
centre or chimney.
DDH 87765 - Located on the same section as hole 87760 but 100 meters
below hole 87762, it intersected the VMS horizon between 485.85 and 490.85
meters (5.0 m). Results are pending.
Results of these first holes highlight a VMS zone with a zinc and silver
rich margin and may point toward a rich copper volcanic vent or chimney,
typical for VMS deposits. Other drill holes are planned to delineate the
extent and the morphology of the zone.
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 varied between 2 and 3 kg each and were sent
to Intertek Testing Services' (Chimitec) laboratory in Val d'Or. The assays
for copper, zinc, lead and silver were carried out by atomic absorption with
an aqua regia digestion, and for gold by fire assay (30g). The highest values
were submitted for a second assay, with multi-acid digestion.
The Gemini project, consisting of 272 claims, is located in the townships
of Laberge and Casa-Berardi, south of the Casa-Berardi gold deposits and north
of La Sarre. Cancor has an option to acquire 50% of the property from Inco
Limited by completing $ 1,450,000 in exploration work (see press release dated
November 24, 1997). To date $ 600,000 has been spent on exploration. To the
southwest, this property adjoins the Turgeon property also owned by Cancor
(51%). This project has potential for base and precious metals (Cu, Zn, Au,
Ag) in a belt of felsic rocks extending over 20 km and covering the Gemini and
Turgeon properties. The Gemini project contains geological formations known to
host volcanogenic base metal deposits in Abitibi and elsewhere in Canada.
Several sectors are yet to be explored and other zones of massive sulphides
were intersected during work carried out by Inco Limited. All of these zones
have potential for the accumulation of base metals.
The acquisition and development of base metal and gold projects in
recognised mining camps remain the cornerstones of our corporate strategy,
which is aimed ultimately at discovering a world-class deposit. All Cancor
Mines press releases are available on the CNW web site: www.newswire.ca.
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For further information: Mr. A. Khobzi, president, (514) 849-3013 |
