Canaco Resources Inc CAN:CA announced assays from its Magambazi Gold Discovery in the Handeni region of Tanzania. Results include 5.22 g/t gold over 5.6 metres, 1.63 g/t over 30.1 metres, 14.81 g/t over 48.6 metres (including 1.55 g/t over 12 metres and 41.51 g/t over 16.8 metres) and 1.44 g/t over 17.1 metres.
Drilling will continue over the next month with the arrival of a third diamond drill rig on site to conduct definition drilling. Other work being conducted on the project includes road construction and the construction of a new camp.
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by Ted Niles