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Canaco Resources Inc. announced new assay results from diamond drilling at the Magambazi gold discovery on the Company's Handeni project in the United Republic of Tanzania.
Seven diamond drill rigs are currently drilling at Magambazi, where the focus is on delineation and extension of known mineralization at the Main, Western, Southern Gneiss and Cave Lode positions. Results have been received for 17 drill holes, 14 of which encountered mineralization. Highlights include: • 31.3 metres at 3.11 grams per tonne gold in hole MGZD207, including 3.5 metres at 7.9 grams per tonne gold. This hole was drilled between hole MGZD004, which intercepted 27 metres at 2.82 grams per tonne gold, and hole MGZD005, which intercepted 41 metres at 3.32 grams per tonne gold, and highlights the exceptional reproducibility of grade of the Main Lode; • 17.5 metres at 2.95 grams per tonne gold in hole MGZD161 in the Upper Western Lode, including 4.2 metres at 7.89 grams per tonne gold. This intersection suggests continuity of Western Lode mineralization between previously reported intersections 160 metres to the north and 320 metres to the south. Drilling has been planned to further test the continuity of the Western Lode mineralization over the entire approximate 1.0 km length of Magambazi; • 9.1 metres at 4.3 grams per tonne gold in hole MGZD157, including 5.6 metres at 6.01 grams per tonne gold. This hole was drilled to test the Main Lode at Magambazi Central; • 3.0 metres at 30.2 grams per tonne gold in hole MGZD163 in the Western Lodes; • 16.0 metres at 1.03 grams per tonne gold in hole MGZD138 in the near-surface Cave Lode. This is the largest intercept to date drilled on the Cave Lode; • 7.0 metres at 1.86 grams per tonne gold in hole MGZD164, including 3.0 metres at 3.67grams per tonne gold. These encouraging intersections are also in the Cave Lode and indicate potential for mineralization over a significant strike length. Additional drill testing is planned up dip and near surface, as indications are that the mineralization is strengthening east and up dip; and • 7.0 metres at 2.4 grams per tonne gold in hole MGZD155 and 3.1 metres at 3.16 grams per tonne gold in hole MGZD159. These holes have located the tail to the Magambazi Main Lode approximately 50 metres below surface in southern extensions to the Magambazi Main Lode. More information, click here. |
