Cancana Files NI 43-101 Technical Report on Rio Madeira
21 März 2014 - 6:59PM
Marketwired
Cancana Files NI 43-101 Technical Report on Rio Madeira
TORONTO, ONTARIO--(Marketwired - Mar 21, 2014) - Cancana
Resources Corp. (TSX-VENTURE:CNY) ("Cancana" or the "Company") has
filed on www.sedar.com a National Instrument 43-101 ("NI 43-101")
compliant Technical Report on Rio Madeira Comercio Importacao E
Exportacao De Minerios, ("Rio Madeira"). The filing of the 43-101
is being made in connection with the proposed transaction and term
sheet and subsequent amendment thereto (as disclosed in the
Company's press releases dated December 20, 2013 and February 24,
2014, respectively).
The independent Technical Report entitled "Technical Report -
Rio Madeira Comercio Importacao E Exportacao De Minerios, Rondonia,
Brazil", (the "Technical Report or NI 43-101"), dated December 10,
2013, was prepared for Cancana by John Harper, ("Harper"),
Professional Geologist, and Qualified Person.
The technical report states a current Inferred Resource of
1,006,234 tonnes of mineralization with an average grade of 52%
manganese taken from an aggregate area of approximately 146
hectares. All samples were brought to Canada for assay. The six
samples ranged from 46.82% Mn to 56.55% Mn with the averaged grade
being 52.16% Mn.
Rio Madeira, is a producing Manganese mine that has been in
operation for the past 8 years. Rio Madeira produces lump ore of
varying sizes and is located adjacent to, and mainly contiguous
with, Cancana's Manganese claims and operations. Rio Madeira holds
title to 15 mineral claims that total approximately 62,000 hectares
in size. With Cancana and Rio Madeira claims being mainly
contiguous, the aggregate size between Rio Madeira and Cancana
claims are now are in access of 110,000 hectares.
John Harper, P. Geol., a qualified person as defined under the
terms of NI 43-101, has verified the data and approved the
technical information contained in this press release.
About
Cancana
Cancana is an exploration stage company that has transitioned
into production with assets in Brazil and Canada. The Company has
been seeking projects that expand its resource base and provide for
near term production and revenue. All available resource reports
and information on the Company's properties are located on the
Company website: www.cancanacorp.com
Issued on behalf of the Board of Directors of Cancana Resources
Corp.
Andrew Male, CEO and Director
Neither the TSX Venture Exchange nor its Regulation Service
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release. The information in this news release may
contain forward-looking statements within the meaning of Section
27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934 and applicable Canadian securities laws. When
used in this release, words such as "estimate", "expect",
"anticipate" and "believe" as well as similar expressions are
intended to identify forward-looking statements. Such statements
are used to describe management's future plans, objects, and goals
for the Company and therefore involve inherent risks and
uncertainties. The reader is cautioned that actual results,
performance or achievements may be materially different from those
implied or expressed in such statements, which speak only as of the
date, the statements were made. The Company does not update
forward-looking statements continually as conditions change. We
seek safe harbour.
Cancana Resources Corp.+1 403 269
2065cancana.ir@cancanacorp.comwww.cancanacorp.com
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