Canaco Strikes Again at Handenihttps://www.goldalert.com/2011/05/canaco-strikes-again-at-handeni/
Highlights:
* Drill hole MGZD083 intersected 23.96 grams per tonne (g/t) gold over 17.0 meters, including 27.3 g/t over 6.0m
* Since the start of the year, Canaco has increased the number of drill rigs at Magambazi from three to six, giving the Company a nominal drill capacity of 8,000 meters per month.
* The Company has also doubled its technical staff in Tanzania to manage the increased drill capacity.
Andrew Lee Smith, President and CEO:
“We have embarked on the largest, most aggressive drill program to date on the project. We are on track to deliver our initial NI 43-101 mineral resource estimate by the end of 2011, which we believe will be an important milestone in the development of the Handeni project.”