Thursday, February 10, 2011 - VICTORIA, B.C., CANADA – Cancana Resources Corp. (TSXV: CNY) (the “Company” or “Cancana”) announces the staking of additional tenures at its Dash Property in Lillooet, British Columbia, Canada.
Cancana has acquired through staking, an additional 1,300 hectares of mineral tenures to bring its total holdings at Dash to 4,777 hectares. Cancana will earn a 100% interest in the Dash Property under an Option Agreement with a privately held company. Cancana will issue a further 306,000 shares to the private company and complete at least $626,000 in work on the Dash Property by December 31, 2011.
The Dash Property is located 105 kilometres northwest of Lillooet, B.C. and has potential for gold, silver and zinc mineralization.
Cancana has also obtained a drill permit for the Dash Property and is proceeding with plans for at least 11 drill holes as recommended by an N.I. 43-101 Report dated October 12, 2009 and available on Cancana’s web-site: www.cancanacorp.com
In 2009 Cancana was able to complete 413.45 meters of drilling prior to forest fires encroaching during a difficult fire season in this region of B.C. Historical drill results, as reported in the NI 43-101 include:
|DDH82-1||1.52 meters of 10.3 gm/t Au||Within the 65M zone|
|RYC001||5.6 meters of 1.46 gm/t Au||Within the Spine zone|
|RYC006||2.73 meters of 2.24 gm/t Au||Within the 75M zone|
In 2009 rock chip samples of note:
2.8 meters of 1.1 gm/t Au,
1.9 gm/t Ag and 0.06% Zn
|From the 75M zone|
0.3 meters of 10.2 gm/t Au,
47.9 gm/t Ag and .07% Zn
|From the 75M zone|
The two drill holes in 2009 were in the Spine zone:
4 meters of .7 gm/t Au, 0.4
gm/t Ag and 0.29% Zn
|From 123 to 127 meters depth|
6 meters of 1.4 gm/t Au, 0.2
gm/t Ag and 0.03% Zn
|From 24 to 30 meters depth|
Andris Kikauka, P. Geo., a Qualified Person with respect to National Instrument 43-101 has reviewed and approved this News Release.
Cancana, formerly Sola Resource Corp., is an exploration stage company with assets in Brazil and Canada, has primarily focused on diamond, manganese and gold resource properties. Recently the Company has been seeking projects that expand its resource base and provide for near term production and revenue.
All available resource reports and information on the Company’s properties are located on the Company website.
Cancana continues to provide shareholders with Investor Updates, please ensure that you have already registered on the company website, if not please visit www.cancanacorp.com and input your name and email address on the home page. For further information about Cancana Resources Corp., please visit the Company’s website or contact the Company at +1 403 269 2065 or preferably email: email@example.com
Issued on behalf of the Board of Directors of Cancana Resources Corp.
Dr. William (Bill) Pfaffenberger
CEO and Director