|By Marketwired .||
|May 8, 2014 12:42 PM EDT||
TORONTO, ONTARIO -- (Marketwired) -- 05/08/14 -- Cancana Resources Corp. (TSX VENTURE: CNY) (the "Company" or "Cancana") is pleased to provide an update on the mining operations at its Valdirao Manganese mine area.
Further to our News Release on November 25, 2013, Cancana had obtained from the Departamento Nacional de Producao Mineral, (Department of Mines for Mineral Production), ("DNPM"), a Guia De Utiliacao, or Trial Mining License, ("Guia"), on its 886241/2011 Manganese claim, known as "Valdirao" and had commenced this trial mining operations in early November 2013.
Cancana developed a mining plan that allows for the mining and excavation operations at the top of the ridge or the highest point within the active area of mining, and then has created benches on the slope in which further mining activity is ongoing.
Initial activity at the top of the ridge showed a series of vein structures that were evident just below the surface topsoil. The top 3 to 4 meters of soil contained Manganese cobble ore which has been screen and stockpiled.
The mining operation having exposed the vein structures provided insight as to the direction and width of the mineralization. Cancana continued to excavate this area to a depth of approximately 20 meters and the Manganese veins continued below this depth. An area of research and trial mining was exposed to allow for future research.
Cancana has continued to excavate and mine from the lower sections of the Valdirao site or areas at the base of the rise or incline. The stripping of the topsoil has continued to yield Manganese cobble ore of varying sizes which has also been stockpiled. The operations include excavation of the soils and ore and dry screening of that material. The dry screens are only able to separate ore that is in excess of 7cm in size. All soils containing Manganese ore that is less than 7 cm in size is being stockpiled for future mechanised screening.
During these operations at the base of the slope, Cancana has uncovered further Manganese vein structures that are on the same strike and direction of the vein structures visible at the top of the ridge. Cancana will continue to research and mine these areas in order to expose, develop and establish a comprehensive mining plan that will allow for the quantification and extraction, if feasible, of the Manganese ore.
At this time Cancana has transported approximately 400 tonnes of large cobble Manganese ore to the Rio Madeira processing plant.
John Harper P. Geol., Head Mine Geologist for Cancana, commented; "Having personally overseen the commencement of mining and excavation operations at Valdirao, we are now able to begin to see the geologic structures that we believed were always there. This trial mining and excavation process activity will enable Cancana to learn from these activities and provide support for more comprehensive development of other areas throughout the region."
Andrew Male, CEO and President of the Company commented; "Considering, Valdirao on its own as a trial mining site we are pleased with the results that we have seen so far. It is important to establish an area whereby this type of research can be completed to enable a good knowledge base in going forward. In our case we are able to generate value for the ore alongside doing the exploration and research work. This is a very good combination of events that is rarely seen."
John Harper B.Sc., P.Geol. a qualified person for the purpose of National Instrument 43-101, has reviewed and verified the contents of this news release.
Further to the news release dated April 29, 2014, the Company announces that it has increased the number of options granted from 3,200,000 options to 3,300,000 options, in the aggregate. All other terms of the options as set out in the Company's news release of April 28, 2014 remain the same.
About Cancana (TSX VENTURE: CNY)
Cancana Resources Corp. is an exploration stage company that has transitioned into production with assets in Brazil and Canada. The Company has been seeking projects that expand its resource base and provide for near term production and revenue. All available resource reports and information on the Company's properties are located on the Company website www.cancanacorp.com.
Issued on behalf of the Board of Directors of Cancana Resources Corp.
Mr. Andrew Male, CEO & Director
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. The information in this news release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. When used in this release, words such as "estimate", "expect", "anticipate" and "believe" as well as similar expressions are intended to identify forward-looking statements. Such statements are used to describe management's future plans, objects, and goals for the Company and therefore involve inherent risks and uncertainties. The reader is cautioned that actual results, performance or achievements may be materially different from those implied or expressed in such statements, which speak only as of the date, the statements were made. The Company does not update forward-looking statements continually as conditions change. We seek safe harbour.
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