Promising results at Gemini-Turgeon (June 04, 2004)

Cancor Mines (KCR-T) and Cambior (CBJ-T) have intersected massive sulphide lenses with significant gold and silver assays on their Gemini-Turgeon project, in the Abitibi region, 80 km north of La Sarre, Quebec.

Drilling in 2004, focused on zone 51 and zone A and comprised 20 holes totaling 8,138 metres.

Highlighting the drilling in zone 51 was a hole that intersected 3.9 grams gold per tonne and 4.1 grams silver per tonne over 6 metres. This intersection corresponds to a massive sulphide horizon, bordering a fault. Another hole intersected 3.6 grams gold per tonne and 13.0 grams silver per tonne over a true width of 5.2 metres and, further downhole, 7.5 grams gold and 5.1 grams silver over 2.5 metres.

A drillhole that was aimed to intersect the zone 250 metres below surface intersected some massive sulphide, but no major faulting and resulted in lower assays (7 metres grading 0.5 grams gold and 6.3 grams silver per tonne). One hole was abandoned because of poor conditions due to the fault.

An IP conductor 200-metres east of zone 51 intersected graphite, minor pyrite (less than 5%) and less than 600 ppm zinc and copper.

Eleven holes were drilled in zone A. Highlighting this drilling was a 3-metre wide intersection grading 2.5 grams gold per tonne, 31.2 grams silver per tonne, 2.1% copper, 1.2% zinc and 0.5% lead. These results correspond with a massive sulphide horizon in contact with felsic and mafic volcanic rock. One hundred metres to the north of this, a 4.7-metre wide massive pyrite lens, resulted in an intersection of 0.3 grams gold per tonne, 481 grams silver per tonne, 0.01% copper and 0.26% zinc over 3 metres.

The massive sulphides in zone A have a strong alteration halo. The lens has been tested to a vertical depth of about 200 metres and over a length of 350 metres.

One hole intersected visible gold in quartz veining that translated into 47.3 grams gold and 6 grams silver per tonne over 1 metre. Other holes contained intersections ranging from 0.1 to 7.2 grams gold per tonne and 2.1 to 92.0 grams silver per tonne over 1 to 7 metres. A couple of holes contained no significant results.

Cambior has an option to earn 50% of Cancor’s interest in the properties. The Gemini property is owned 25% by Inco (N-T), while the Turgeon property is subject to a 2% net smelter royalty payable to Aur Resources (AUR-T).