Wednesday 26th October 2016

Resource Clips

Canaco reports Tanzania Gold Assays including 2.01 g/t over 21m

Resource Clips - essential news on junior gold mining and junior silver miningCanaco Resources Inc TSXV:CAN announced drill results from the Magambazi gold discovery of its Handeni project in Tanzania. Highlights include

4.05 g/t gold over 8 metres
12.67 g/t over 5 metres
1.19 g/t over 16.4 metres
2.01 g/t over 21 metres
2.74 g/t over 11 metres
8.84 g/t over 8.3 metres
4.78 g/t over 13 metres (including 12.71 g/t over 4.4 metres)
2.8 g/t over 7 metres
5.76 g/t over 7 metres (including 18.18 g/t over 2.1 metres)
2.8 g/t over 23.8 metres

Canaco owns 100% of the Handeni Project. The Magambazi claim is owned 100% by Magambazi Mines Company Ltd. Canaco has an option to acquire a 100% interest in the claim by paying $180,000 over two years for the rights to explore and $1.8 million to acquire a 100% interest subject to a 2% NSR.

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Meghan Brown
Director, Investor Relations

by Ted Niles

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