Encouraging gold values have been received by Can America Precious Metals on a property held under option from Cochrane Oil & Gas. Located in the Manitou Lakes area in northwestern Ontario, the property covers a major splay fault off the Manitou Stratis Fault.
Trenching of a quartz-pyrite stringer stockwork associated with the fault, has outlined a zone averaging 0.12 oz gold per ton across a true thickness of 24.5 ft, the company says. Three trenches have exposed the mineralized zone for more than 160 ft along strike. Gold values range from 0.08-0.1 oz in the trenches with higher values of 0.21-0.43 oz gold in certain sections.
Can America can earn a 50% interest in the property by spending $400,000 on exploration. A small 2,500-ft diamond drilling program is scheduled to start in February.
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