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Gold/Mining/Energy : cancor mines -- Ignore unavailable to you. Want to Upgrade?

To: matt who wrote (19)	4/18/1999 5:43:00 PM
From: Brumell	Read Replies (1) \| Respond to of 66

What you say makes a lot of sense, matt, but I'm starting to wonder if we aren't also seeing something else at play with junior resource stocks. For years, such stocks were the speculative sector in the overall market and attracted speculative investors. My hunch is that many former resource stock players have moved elsewhere to the high tech and internet sectors. I think a lot of money has been removed from the junior resource stock market. It could be argued not so - look at NWI. My answer to that is what would NWI have done 2 or 3 years ago? Their stock would have popped to $10 or $20 as did Cartaway and many others like it. The ones popping to $10 or $20 now are the GLE and BII's of the market, not junior resource stocks. KCR had great results and I agree completely with your assessment of their potential and how the stock may trade. Gotta say it, though... I get ticked when results like theirs are met with a yawn by the market. You don't very often see results like theirs and it makes you wonder how high the barrier is being raised before it's worthwhile investing. Regards, Bob

To: matt who wrote (19)	4/20/1999 11:26:00 PM
From: Gord Bolton	Respond to of 66

Cancor Mines Inc. - Excellent results for phase I on the Gemini project Symbol: KCR Montreal S-E MONTREAL, April 16 /CNW/ - CANCOR MINES INC. is pleased to announce the successful completion of Phase I of its drilling program. Included in this release are the results of the latest five diamond drill holes on the GEMINI property bringing the total drilling program to nine holes. The first five holes yielded highly significant results as announced in the press release of March 10, 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% zinc, 0.20% copper, 57.40 grams/ton silver and 3.48 grams/ton gold over 12.81 meters including 11.73% zinc, 0.16% copper, 60.18 grams/ton silver and 5.0 grams/ton gold over 8.27 meters. 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 2 and 13 meters in length. - Confirmation of an exhalative breccia zone enriched with copper and gold with varying between 1.50 and 7 meters width and located directly at the footwall of the zinc zone. - The drilling pattern averaging 100 meters in length by 100 meters in width allowed us to define a sulphide area of 300 meters in depth over 300 meters in extension north-south, for a total mineralised surface of 90,000 square meters. The drilled area is still open to the north, the south and at depth. - CANCOR 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 table below: ------------------------------------------------------------------------ Zone Ddh Width(m) Cu Zn Ag(g/t) Au(g/t) ------------------------------------------------------------------------ ZINC 87760 8.76 0.02 12.29 208.16 1.15 ZINC 87762 3.00 0.02 5.07 47.07 1.22 ZINC 87770 12.81 0.20 9.67 57.40 3.48 COPPER 87762 5.05 1.04 0.17 25.90 0.90 COPPER 87765 5.50 2.04 0.05 29.50 1.76 COPPER 87766 4.90 1.03 1.50 25.50 0.19 COPPER 87767 1.45 0.26 0.42 8.96 0.16 COPPER 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 meters 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 meters (4.3 meters). This zone yielded 0.48% copper, 0.24% zinc and 12.70 grams/ton silver over 3.4 meters including a 0.90 meter section containing 1.19% copper, 0.86% zinc, 6.25 grams/ton silver. Further down the hole, another rich chalcopyrite stringer was undercut resulting in 2.04% copper, 0.05% zinc, 29.50 grams/ton silver and 1.76 grams/ton gold over 5.50 meters including a 1.40 meter section containing 3.6% copper, 0.08% zinc, 46.80 grams/ton silver and 6.25 grams/ton gold. DDH 87766 - was targeted 100 meters north of the discovery hole and intersects the VMS zone between 577.50 and 582.4 meters (4.9 meters). It is composed mainly of pyrite and chalcopyrite stringers again within an exhalative breccia. The results are 1.03% copper, 1.50% zinc, 25.50 grams/ton silver and 0.19 grams/ton gold over 4.90 meters. DDH 87767 - is located 200 meters north of the discovery hole and cuts through the VMS zone between 536.75 and 538.20 meters (1.45 meters). The zone is composed of pyrite and a little chalcopyrite and sphalerite. The results are 0.26% copper, 0.42% zinc, 8.96 grams/ton silver and 0.16 grams/ton gold over 1.45 meters. DDH 87769 - targeted the base metal zone at 600 meters 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 meters (59.60 m). This breccia contains mostly disseminated to semi-massive sulphides (40%) on distances varying between 1.0 to 3.0 meters. The sought-after base metal sulphide zone merges within these intervals. Results are as follows: 0.98% copper, 0.48% zinc, 22.34 g/t silver and 0.40 g/t gold over 7.0 meters including 1.34% copper, 0.93% zinc, 29.85 g/t silver and 0.75 g/t gold over 3.20 meters. DDH 87770 - is located 50 meters south of drill hole 87760 and targeted the base metal sulphide zone 350 meters below the surface. This hole intersects the sulphides between 359.50 and 382.55 meters (23.05m). Within this zone, between 369.74 and 382.55 meters (12.81 m), a rich sphalerite zone averaging 80% pyrite and 15% sphalerite yielded the following results: 9.67% zinc, 0.20% copper, 57.40 g/t silver and 3.48 g/t gold over 12.81 meters including 11.73% zinc, 0.16% copper, 60.18 g/t silver and 5.0 g/t gold over 8.27 meters. 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 analysed by atomic absorption with an aqua regia digestion, and for gold by fire assay (30 kg). The highest values were submitted for a second assay with multi-acid digestion. We are 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 meters north-south extension) as well as assisting in locating future drilling targets . 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 INC. press releases are available on the CNW web site: www.newswire.ca. For further information or a copy of the attached geological figures, please contact Mr. A. Khobzi at (514) 849-3013. -30- For further information: Mr. A. Khobzi at (514) 849-3013