Cancana and Ferrometals Provide Update on Brazil Manganese Joint Venture

Cancana Resources (TSXV:CNY) and its joint venture partner Ferrometals announced that they have received final aerial geophysics survey data and initial assays from drilling for the Brazil Manganese Corp. project.
As quoted in the press release:

The results are positive and confirm the Company’s operating geological model that supports the existence of significant, high-tenor mineralization at depth similar to the surface boulders currently being processed.

Highlights:

Aerial Geophysics

• Processing of the aerial geophysics survey data has successfully highlighted the underlying basement structure.
• 211 strike kilometers of prospective fault systems identified, with additional trends under evaluation.
• Current analysis highlights 62 manganese target areas along these structures based on enhanced conductive response.

Phase One Drilling

• 38 drill holes were completed for 2,084 meters, with results from the first two of eight targets received to date.
• Phase One drilling confirmed the Company’s geological model that the manganese mineralization persists at depth in structurally-controlled, hydrothermal veins at the same tenor to that seen at surface.
• The mineralized veins are confirmed to be the source of surface colluvium.
• Manganese oxide phases persist below the base of weathering to a vertical depth of at least 70 meters.
• Structures intersected in position predicted by geophysical models.
• Massive mineralization returns grades similar to surficial material:
• DDH_J3_001: 3.1m @ 48.9% Mn, incl. 1.9m @ 57.8% Mn from 32.2m
• Phase Two exploration drilling has commenced.

Anthony Julien, president and CEO of Cancana, commented:

These early-stage results exceeded our expectations.  We expected to find evidence of high-tenor mineralization at depth similar to surface mineralization, but the identification of an abundance of additional targets and more than 200 km of additional fault systems is welcome indeed. Our shareholders can be pleased by these initial results, as we will be expanding drilling activity with the objective of delineating an initial resource in 2016.

Click here to read the full Cancana Resources (TSXV:CNY) press release.