Canaco Res. identifies target

Exploration by Canaco Resources (CSE-M) has resulted in the discovery of a volcanogenic massive sulphide (VMS) target at the Lady Pond property near Springdale, Nfld.

The junior discovered a north-easterly trending pulse-electromagnetic conductor at the northeastern end of David Pond, near an area where previous drilling had returned some copper and gold values. As well, two conductors associated with very-low-frequency electromagnetic anomalies were identified near a former mine. Canaco holds 15 km of a VMS horizon in the Springdale Peninsula, where several former mines are known to have existed.