MONTREAL, Feb. 29 /CNW Telbec/ - Cancor Mines Inc. (KCR-TSX) is pleased
to present an update of the Titan 24 geophysical survey executed this winter
on its base metal properties (copper and zinc) in the Joutel area, Abitibi,
Cancor conducted a Titan 24 survey on its Kistabiche (in association with
SOQUEM) and Bonfortel properties, both located north of Amos in the base and
precious metals historic mining district of Joutel, in Quebec. All field work
was completed in December 2007.
The geophysical survey, which totals 41 linear kilometres, was done by
Quantec Geoscience Limited, using Titan 24 DCIP and MT systems. Titan 24 is a
geophysical imaging system that operates with a combination of geophysical
resistivity (DC), chargeability (IP) and magnetotelluric (MT) parameters. The
system is designed to measure DCIP data at depths of 750 metres and to
investigate beyond 1.5 km using MT data. The survey detects anomalies for
purposes of identifying quality drilling targets in the search for additional
sulphide base metal mineralization.
After having acquired the data, Quantec made a preliminary interpretation
of the electrical results. The first results show several chargeability
anomalies over the entire investigated area. The interpretation of the
magnetotelluric data is in the process of completion. The compilation of
existing geological data on the property and the 3D modelling of the Joutel
mining camp are being added to this interpretation in order to integrate all
the data and to define new drill targets.
The results and complete interpretation of the survey are expected to be
available in early March 2008. Cancor will then proceed with a new drilling
campaign, the extent of which will depend on the quantity and quality of the
newly- identified anomalies.
Several massive sulphide lenses exist on these properties and form the
Explo-Zinc deposit. The deposit contains measured and indicated mineral
resources, in accordance with the NI 43-101 standard, amounting to 587,961
tonnes at 7.63% zinc, 0.35% copper and one ounce of silver, and inferred
mineral resources of 273,485 tonnes at 6.64% zinc and 0.21% copper.
Cancor and SOQUEM Inc. are partners in the Kistabiche property. SOQUEM is
a subsidiary of the Société générale de financement du Québec (SGF), an
industrial and financial holding company whose mission is to conduct economic
development projects in the industrial sector with partners in accordance with
the development policies of the Quebec government.
Cancor Mines Inc. is a Canadian mining company engaged in the exploration
and development of properties with high potential for precious and base metals
in recognized mining camps in Canada and abroad.
All Cancor Mines press releases are available on the company website at
www.cancor.ca. Kamil A. Khobzi, engineer and a qualified person under the NI
43-101 standard, has read and approved this press release.
Caution concerning forward-looking statements
This press release contains certain "forward-looking statements",
including. but not limited to, the statement regardingexploration 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
For further information:
For further information: Mr. Khobzi, president, (514) 849-3013