Cancor hits base metals at Gemini

Drilling by Montreal-based junior Cancor Mines (KCR-M) at its Gemini project in northwestern Quebec has intersected more base metal mineralization.

Using a 100-by-100-metre pattern, crews drilled five holes above, below and northwest of a base metal volcanogenic-massive-sulphide (VMS) zone discovered last year in hole 60. That intersection returned 8.8 metres of 12.29% zinc plus 208.16 grams silver and 1.15 grams gold per tonne at a depth of about 320 metres.

Among the recent results, hole 62 graded 5.07% zinc, 47.04 grams silver and 1.22 grams gold over 3 metres at a depth of 409 metres. The hole was drilled directly beneath hole 60.

Hole 64, drilled 100 metres north of hole 60, intersected the VMS zone at a depth of 453 metres. This hole returned 1.04% copper, 0.17% zinc, 25.9 grams silver and 0.9 gram gold over 5 metres.

Cancor says these results indicate a VMS zone with a zinc-and-silver-rich margin.

Assays for hole 65 are pending, and further drilling will attempt to delineate the extent and morphology of the VMS zone.

Cancor can acquire a half-interest in the Gemini property from Inco (N-T) by spending $1.45 million on exploration over five years, of which $600,000 has been spent to date. As well, Cancor must issue 300,000 shares over five years and grant 300,000 options exerciseable over four years.