From the news releaseThe Magambazi, Magambazi Central and Magambazi North prospects are part of a 1.4 kilometre long trend of gold mineralization defined by bedrock gold occurrences, artisanal mine workings and soil geochemical anomalies. This 1.4 kilometre trend represents the southernmost segment of the 11 kilometre Handeni Gold Trend contained within the Company's Handeni Gold Project. The diamond drilling operation is progressing with the objective of extending the mineralization at Magambazi North to the north, south and down dip and at the Magambazi down dip and along strike.
Preliminary metallurgical test work is reaching completion and the results are expected to be announced in the near future. Canaco is gearing up toward increasing its diamond drill capacity with a second rig and is currently finalizing plans for RAB and RC drilling as well as a detailed aeromagnetic survey across the project area.