Monday 5th December 2016

Resource Clips


Posts tagged ‘Canaco Resources Inc (CAN)’

Canaco receives BCSC Hearing Notice, responds

April 26th, 2012

Resource Clips - essential news on junior gold mining and junior silver mining(Update: Effective April 9, 2013, Canaco Resources Inc began trading as Orca Gold Inc TSXV:ORG.)

Canaco Resources Inc TSXV:CAN responded to the British Columbia Securities Commission (BCSC) regarding its notice of hearing alleging that in December 2010 the President/CEO and three other directors of Canaco voted to approve the exercise price of stock options before publicly disclosing assay results from the Magambazi Claim of its Handeni Project in Tanzania. Canaco maintains that the drill results were not material and that this opinion has been validated by independent reviewers, including Micon International Ltd.

Canaco President/CEO Andrew Lee Smith commented, “The staff of the BCSC is proposing to rewrite the rules for determining materiality in a way we believe is unfair, contrary to the public interest and damaging for junior mining companies subject to BC jurisdiction. We intend to oppose that effort and defend ourselves vigorously.”

View Company Profile

Contact:
Canaco Resources Inc
Director, Investor Relations
604.488.2557

by Ted Niles

Canaco reports Tanzania Gold Assays up to 3.9 g/t over 59.4m

March 16th, 2012

Resource Clips - essential news on junior gold mining and junior silver mining(Update: Effective April 9, 2013, Canaco Resources Inc began trading as Orca Gold Inc TSXV:ORG.)

Canaco Resources Inc TSXV:CAN announced assays from its Magambazi gold project in Tanzania. Results include

6.26 g/t gold over 12.6 metres (including 11 g/t over 6.3 metres)
3.98 g/t over 59.4 metres (including 12.13 g/t over 7.7 metres)
11.54 g/t over 5.6 metres
5.27 g/t over 29.3 metres (including 13.03 g/t over 8.4 metres)

Magambazi is one of two contiguous claims forming the Handeni Gold Project. Canaco has an option to acquire a 100% interest in Magambazi subject to payments of US$180,000 over two years for exploration rights and $1.8 million to acquire a 100% interest subject to a 2% NSR.

View Company Profile

Contact:
Meghan Brown
Director, Investor Relations
604.488.2557

by Ted Niles

Canaco reports Tanzania Results up to 5.37 g/t Gold over 43.4m

February 13th, 2012

Resource Clips - essential news on junior gold mining and junior silver mining(Update: Effective April 9, 2013, Canaco Resources Inc began trading as Orca Gold Inc TSXV:ORG.)

Canaco Resources Inc TSXV:CAN announced assays from its Magambazi Gold Project in Tanzania. Highlights include

5.37 g/t gold over 43.4 metres
(including 9.37 g/t over 19.6 metres)
2.9 g/t over 12.5 metres
(including 9.77 g/t over 2.8 metres)
1.56 g/t over 19 metres
(including 2.92 g/t over 5.5 metres)
1.85 g/t over 17.6 metres
(including 6.24 g/t over 2.8 metres)
3.36 g/t over 6 metres
3.18 g/t over 5.6 metres

Magambazi is one of two contiguous claims forming the Handeni Gold Project. Canaco has an option to acquire a 100% interest in Magambazi subject to payments of US$180,000 over two years for exploration rights and $1.8 million to acquire a 100% interest subject to a 2% NSR. Canaco owns 100% of the Kilindi claim.

View Company Profile

Contact:
Meghan Brown
IR Director
604.488.2557
866.488.0822

by Greg Klein

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

December 5th, 2011

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.

View Company Profile

Contact:
Meghan Brown
Director, Investor Relations
604.488.2557

by Ted Niles

Canaco reports Tanzania Assays up to 14.75 g/t Gold over 11m

November 3rd, 2011

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

14.75 g/t gold over 11 metres
(including 56.16 g/t over 2.8 metres)
2.99 g/t over 24.5 metres
(including 6.48 g/t over 4.2 metres)
16.29 g/t over 4 metres
2.23 g/t over 24.5 metres
(including 8.11 g/t over 2.4 metres)
1.23 g/t over 29 metres
(including 3.12 g/t over 4.2 metres)
10.33 g/t over 3.5 metres

President/CEO Andrew Lee Smith remarked, “These most recent drill results represent steady progress on the infill drill program and give us confidence that the Western Lodes have the potential to contribute significant additional value to the Magambazi mineralized system.”

View Company Profile

Contact:
Meghan Brown
Investor Relations
604.488.2557

by Greg Klein

Canaco reports Tanzania Gold Assays including 6.45 g/t over 35m

October 14th, 2011

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

2.74 g/t gold over 21.7 metres
6.45 g/t over 35 metres
3.27 g/t over 15.1 metres (including 6.05 g/t over 7.4 metres)
3.13 g/t over 16.7 metres
3.01 g/t over 28.4 metres (including 23.67 g/t over 2.1 metres)
3.18 g/t over 55.3 metres (6.33 g/t over 21 metres)
3.12 g/t over 22.3 metres (including 9.89 g/t over 4.9 metres)
3.01 g/t over 16.5 metres (10.03 g/t over 2.8 metres)
9.39 g/t over 5.5 metres (including 23.24 g/t over 2.1 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.

View Company Profile

Contact:
Meghan Brown
Director, Investor Relations
604.488.2557

by Ted Niles

Canaco reports Tanzania Gold Results including 3.92 g/t over 49m

September 13th, 2011

Resource Clips - essential news on junior gold mining and junior silver miningCanaco Resources Inc TSXV:CAN announced assays from the Magambazi Claim of its Handeni Project in Tanzania. Results include 3.92 g/t gold over 49 metres (including 11.62 g/t over 9.2 metres), 3.25 g/t over 16.9 metres, 3.49 g/t over 14.2 metres (including 7.66 g/t over 5.6 metres), 3.39 g/t over 14.3 metres (including 7.73 g/t over 4.2 metres), 5.48 g/t over 4.9 metres and 1.08 g/t over 25.3 metres (including 5.46 g/t over 1.4 metres).

Canaco has an option with Magambazi Mines Company to spend US$180,000 over two years for the rights to explore the Magambazi Claim and US$1.8 million to acquire a 100% interest in the claim subject to a 2% NSR.

View Company Profile

Contact:
Meghan Brown
Investor Relations
604.488.2557

by Greg Klein

Canaco reports Tanzania Gold Assays including 1.02 g/t over 37m

March 28th, 2011

Canaco Resources Inc TSXV:CAN announced assays from its Handeni Gold Project in Tanzania. Results include 1.02 g/t gold over 37 metres (including 3.05 g/t over 5 metres), 1.21 g/t over 25 metres (including 2.12 g/t over 6 metres), 1.96 g/t over 11 metres (including 5.73 g/t over 3 metres).

President/CEO Andrew Lee Smith stated, “These results give us confidence that the robust mineralization at Magambazi is also present at Kwadijava, and confirm the regional nature of the mineralization at the Handeni project. While additional drilling is required, these results substantially enhance the potential for the identification of additional near surface mineralization on the property.”

View Company Profile

Contact:
Meghan Brown
Director, Investor Relations
604.488.0822

by Ted Niles

Canaco reports Tanzania Gold Assays up to 7.24 g/t over 48.3m

February 24th, 2011

Canaco Resources Inc TSXV:CAN announced assays from the Magambazi Zone of its Handeni Project in Tanzania. Results include 7.24 g/t gold over 48.3 metres, 3.35 g/t over 11.2 metres, 38.76 g/t over 8.7 metres, 2.72 g/t over 17.7 metres, 3.98 g/t over 9.4 metres and 1.71 g/t over 29.4 metres.

The drill program will now shift focus toward definition drilling of the Keel Zone of the Magambazi Main Lode system between Magambazi and Magambazi North.

View Company Profile

Contact:
Meghan Brown
Director, Investor Relations
604.488.0822

by Ted Niles

Canaco reports Ethiopia Assays up to 1.55 g/t Gold, 4.1% Copper over 52.1m

January 6th, 2011

Canaco Resources Inc CAN:CA announced drill results from the Terakimti concession of its Harvest Project in Ethiopia. Assays include 2.84 g/t gold and 300.11 g/t silver over 13.2 metres, 1.55 g/t gold and 4.1% copper over 52.1 metres (including 1.88 g/t gold and 7.3% copper over 23.7 metres), 1.17 g/t gold and 2.67% copper over 13.9 metres.

The drilling conducted on the Terakimti concession is located 140 kilometres southwest along strike of Sunridge Gold Corp’s SGC:CA Emba Derho VMS deposit, which is estimated to contain 62.5 million tonnes grading 0.72% copper, 1.38% zinc, 0.2 grams gold per tonne and 10 grams silver per tonne.

View Company Profile

Contact:
Meghan Brown
Director, Investor Relations
604.488.0822

by Ted Niles