Posted in | Mining Business

Cancana, Ferrometals Announce Positive Early Results from Regional Exploration Activities on BMC Project Area

Cancana Resources Corp. (the "Company" or "Cancana") and its joint venture partner Ferrometals BV, together are pleased to provide an update on the regional exploration activities for gold on the Brazil Manganese Corporation ("BMC") Project Area.

Cancana's President & CEO, Anthony Julien, said, "We are very encouraged with the positive early results from the multi-commodity team. The discovery of multiple gold anomalies greatly enhances the exploration potential of the BMC Project Area. Ongoing work is in progress to extend the sampling across all licences, and to fully define the extent of the anomalies at the newly emerging gold targets".

EXPLORATION OVERVIEW

BMC is pleased to provide an update from its multi-commodity team which was established to evaluate the prospectivity of metals beyond manganese on its licences in Rondônia, NW Brasil. The BMC project area is located on the SW margin of the Amazon Craton, which hosts a number of Proterozoic gold and tin provinces. The initial priority has been to evaluate the potential for gold mineralisation within the licence area (which has not previously been systematically reviewed). The team currently comprises a six-member geochemical crew, working under the supervision of two dedicated geologists.

Activity has initially focussed on testing for drainage anomalism, through a pan-concentrate sampling program. Soil geochemistry has since been initiated in two prioritised areas where a positive response has been detected. Soil surveys are being conducted on a 400m x 50m reconnaissance grid, with infill of anomalous areas on 100 x 25m pattern. The survey program remains in progress, with 328 pan concentrate samples having been collected to date, and gold analyses have been returned from 980 of the 1537 soil samples collected. The soil grids cover an aggregate strike length of 10km along structural corridors identified in mapping and geophysical data.

Mapping is underway to confirm potential source areas. The basement is intermittently exposed, with the majority of the area obscured by soil and colluvium. Subcrop of variably sheared and locally pyritic quartz veins are locally observed in the catchments of anomalous areas, along with bordering areas of silica-sericite-pyrite alteration. Trenching programs will be undertaken as the next phase of work as the infill soil program advances. Three initial trenches (with a total length of 518m) have been made to expose the bedrock beneath the soil and colluvium at the Gazetta Prospect. The trenches are being used to gather information on the position and orientation of underlying structures. The trenches have been channel sampled, with analyses pending.

The next in the steps in the gold evaluation will be:

  • to continue to extend the reconnaissance pan concentrate program,
  • to complete infill soil sampling to enhance target definition for follow-up trenching, and
  • to refine targets for follow up drilling, subject to the trenching program.

Once the gold program has advanced, the multi-commodity team will refocus on the evaluation of the tin potential within its licences and regionally. The state of Rondônia has been a significant producer of tin. BMC will apply a similar geochemical approach to evaluate the granite stocks identified with a prospective tin signature from its initial reconnaissance programs (reported 22 Sept 2015).

Maps and images are available at the following address: http://media3.marketwire.com/docs/1063097.pdf

On behalf of the Board of Directors of CANCANA RESOURCES CORP.

Anthony Julien, President, CEO and Director

QUALIFIED PERSON

The technical information about the Company's mining activities has been prepared under the supervision of and verified by Dr. Adrian McArthur (B.Sc. Hons, PhD. FAusIMM), a consultant to Brazil Manganese Corporation, who is a "qualified person" within the meaning of National Instrument 43-101.

Source: http://www.cancanacorp.com/

Tell Us What You Think

Do you have a review, update or anything you would like to add to this news story?

Leave your feedback
Submit