MONTREAL, March 25 /CNW Telbec/ - Cancor Mines (KCR-TSX) is pleased to
present the results of the Titan 24 geophysical survey conducted this winter
at our base metal properties near Joutel in Quebec's Abitibi region.
The survey, conducted by Quantec Geoscience Limited (Quantec) covered the
western part of the Kistabiche (a joint venture with SOQUEM Inc.) and
Bonfortel properties, both located north of Amos in Quebec's historic Joutel
precious and base metals mining district.
We are pleased to report that Quantec has identified sixteen anomalies,
eleven of which are seen as high priority targets due to their physical
characteristics and geological context (i.e.: proximity to known showings).
According to Quantec, they are "interpreted as representing potential massive
or stringer or disseminated sulphide mineralisations and/or alteration zones
at depth". As a result of the findings Quantec is recommending a drilling
program totalling 10,900 metres to check the source of these eleven high
Cancor is evaluating these targets and intends to follow up with a
drilling program in accordance with the company's geological priorities.
The geophysical survey was conducted using the Titan 24 DCIP and MT
systems. Titan 24 is a geophysical imaging system that combines the
geophysical parameters of resistivity (DC), chargeability (IP) and/or
magnetotelluric (MT) resistivity. The system is designed to measure DCIP data
at depths of 750 metres and to investigate beyond 1.5 km using MT data. The
results show a number of chargeability and/or magnetotelluric anomalies that,
together with existing geological data on the property and 3D modelling of the
Joutel mining camp, constitute interesting drilling targets.
The eleven anomalies discussed above exhibit strong to moderate IP
response with DC and MT resistivity low to high association. Most of these
anomalies are located at depths ranging from 280 to 825 metres below the
A number of massive sulphide lenses exist on this property and form the
Explo-Zinc deposit. This deposit contains measured and indicated mineral
resources in accordance with National Instrument 43-101. Specifically, the
measured resources amounted to 350,102 tons containing 9.46% Zinc, the
indicated resources amounted to 237, 859 tons containing 4.94% Zinc resulting
in a total amount of 587, 961 tons containing 7.63% Zinc. The inferred
resources amounted to 273, 485 tons containing 6.64% Zinc (See Press Release
dated 13 December 2006).
Cancor and SOQUEM Inc. are partners in the Kistabiche property. SOQUEM is
a wholly-owned subsidiary of Société Générale de Financement du Québec (SGF).
SGF is Quebec's industrial and financial holding company responsible for
undertaking economic development projects in the industrial sector in
cooperation with partners and in compliance with the economic development
policies of the Government of Quebec.
Cancor Mines Inc. is a Canadian mining company engaged in the exploration
and development of properties with a high potential for precious and base
metals in recognized mining camps located in Canada and abroad.
All recent Cancor Mines press releases are available on the company
website at www.cancor.ca.
Kamil A. Khobzi, an engineer qualified under NI 43-101, has read and
approved this release.
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, (514) 849-3013