Promising results at Gemini-Turgeon (June 14, 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, 80 km north of La Sarre in Quebec’s Abitibi region.

In 2004, the partners have drilled 20 holes (8,138 metres) on zone 51 and zone A.

One hole in zone 51 cut 3.9 grams gold 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 and 13 grams silver over a true width of 5.2 metres and, farther down-hole, 7.5 grams gold and 5.1 grams silver over 2.5 metres.

A drill hole that was intended to intersect the zone 250 metres below surface encountered some massive-sulphide mineralization but no major faulting and resulted in lower assays (7 metres grading 0.5 gram gold and 6.3 grams silver per tonne). One hole was abandoned, owing to poor conditions related to the fault.

An induced-polarization conductor 200 metres east of zone 51 intersected graphite, minor pyrite (less than 5%) and less than 600 parts per million zinc and copper.

Eleven holes were drilled in zone A, the highlight being a 3-metre-wide intersection grading 2.5 grams gold, 31.2 grams silver, 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. About 100 metres to the north, drilling intersected a 4.7-metre-wide massive pyrite lens, which graded 0.3 gram gold, 481 grams silver, 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 and 2.1-92 grams silver over 1-7 metres. A couple of holes contained no significant results.

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