Canaco Resources Inc CAN:CA announced results from its Magambazi Gold Discovery in the Handeni region of Tanzania. Assay highlights include 9.51 g/t gold over 53.2 metres (including 15.08 g/t over 23.8 metres), 2.46 g/t over 4.5 metres, 6.1 g/t over 17.4 metres (including 14.35 g/t over 6.3 metres), and 5.81 g/t over 7 metres.
President Andrew Lee Smith commented, “It has been an incredible year of exploration and definition drilling at Magambazi. I thought that our original best intercepts drilled in 2009 of 59 metres at 4.28 g/t gold in hole 1 and 56 metres at 6.39 g/t in hole 12 were as good as it could get. The Magambazi system has outperformed my best expectations in 2010. Linking the Magambazi Main Lode with Magambazi Central and Magambazi North has also been an important development of 2010, showing continuity of mineralization over almost one kilometre of strike.”
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Director, Investor Relations
by Ted Niles