MONTREAL, Feb. 19 /CNW Telbec/ - Cancor Mines (KCR-TSX) is pleased to
announce the start of a new drilling campaign at its Gemini-Turgeon mining
property in Abitibi. IAMGOLD Corporation, partner of Cancor on the property
and currently project manager, will conduct the campaign.
The Gemini-Turgeon gold and base metals project is located north of La
Sarre, in the Casa-Bérardi mining camp. IAMGOLD, Cancor's associate in this
venture, has identified numerous targets based on a deep-penetrating Titan-24
survey, borehole Pulse EM and induced polarization anomalies. The best targets
will be drilled and the three prime selected targets are the following:
- The first target is located on the footwall of Zone B, in a sector
presenting a strong chargeability, resistivity and magneto-telluric
response. If the first hole gives positive results, a second one will
be drilled as the target is considered to be of a very high-priority.
- The second major target was selected in response to a large-scale pulse
EM anomaly detected beneath a hole drilled in 2005 in an area of
chloritized tuffaceous and rhyolitic rocks.
- The third target is located on the southern extension of the Zone B
mineralized horizon. At that location, a borehole pulse EM anomaly
detected by Noranda coincides with a very strong IP anomaly indicating
the likely presence of a second untested mineralized horizon.
The Gemini-Turgeon project is located in Laberge and Casa-Bérardi
townships, some 80 km north of the city of La Sarre in Abitibi and 10 km south
of the Casa-Bérardi gold mine. This 70 km(2) property largely covers a
formation of felsic volcanics which extends over a strike-length of more than
20 km. The felsic formation offers a high potential for discovery of precious
and base metals. Several horizons of exhalative mineralizations hosting
massive sulphide lenses have been identified on the property. These massive
sulphide lenses contain anomalous to subeconomic concentrations of gold,
copper, zinc and silver. Cancor made extensive studies on some of these
lenses, particularly on Zone B. On Zone B, drill holes have outlined a copper
zone with a mineral inventory of 0.7 Mt at 3% Cu equivalent and a zinc zone of
1.3 Mt at 8.3% Zn equivalent as estimated by Cancor. IAMGOLD has not yet
verified this resources evaluation that does not comply with the NI 43-101
Cancor Mines Inc. is a Canadian mining company listed as "KCR" on the TSX
exchange and is involved in the exploration and development of mining
properties with high potential in precious and base metals in mining camps
recognized in Canada and abroad. The acquisition and development of gold and
polymetallic projects remains the cornerstone of Cancor's corporate strategy.
Participation by major partners forms a key pillar of this strategy.
All Cancor Mines Inc. press releases may be found on the company's Web
site at: www.cancor.ca. This press release has been read and approved by Kamil
Khobzi, an engineer and qualified person for purposes of NI 43-101.
Caution concerning forward-looking statements
This press release contains certain "forward-looking statements",
including. but not limited to, the statement regarding exploration work and
the emphasis on looking for a certain type of deposit. Forward-looking
statements involve a number of risks and uncertainties. There can be no
assurance that such statements will prove to be accurate. Actual results and
future events could differ materially from those anticipated in such
statements. Risks and uncertainties that could cause results or future events
to differ materially from current expectations expressed or implied by the
forward-looking statements include, among other things, those set forth in
Cancor's 2007 Annual Information Form, a copy of which can be obtained on the
SEDAR website at www.sedar.com.
For further information:
For further information: Mr. Khobzi, President, in Montreal at (514)