Cancor Mines Inc.: Update on Activities in Algeria
25.02.2013 | Marketwire
MONTRÉAL, Feb. 25, 2013 - Cancor Mines (CNSX:KCR) and its subsidiaries present an update on gold exploration activities in Algeria.Due to the current exceptional circumstances in the Sahel, and especially in northern Mali, Cancor Mines Inc. has been forced to temporarily suspend work on all projects related to its licences in the Hoggar region of Algeria.
As these circumstances are beyond the Company's control and constitute a case of force majeure, the Company has notified the supervisory authorities in Algeria to this effect. Force majeure is specifically recognized under the terms of the licenses held by the Company and provide for the automatic extension of the licences for a period corresponding to the duration of the circumstances constituting force majeure.
Accordingly Cancor has secured its titles and intends to redeploy its activities at a later date. The Company has reiterated to the authorities that it intends to respect its commitments by carrying out a drilling campaign within the Tirek North Licence.
About Cancor Mines Inc.
Cancor Mines Inc. is a Canadian company involved in the exploration and development of mineral properties with high potential for precious or base metals. In addition to its Quebec properties, the Company holds a 100% interest in four Algerian properties which are prospective for gold. The Company is listed and traded on the Canadian National Stock Exchange under the symbol: KCR (CNSX-www.cnsx.ca)
The Algerian properties are located in the Hoggar region approximately 2000 km south of the capital Algiers. They are located in a very favourable geological environment for gold similar to Canada's Abitibi greenstone belt and contain numerous gold fields on or near surface which may be amenable to open-pit mining. All the permits are in good standing.
All Cancor Mines press releases, maps and figures related to these properties are available on the company's website, www.cancor.ca.
Technical reports with compliance to NI 43 101 have been completed for all our properties and are available on SEDAR site (www.sedar.com) and on our web page on CNSX (www.cnsx.ca).
Mr. Khobzi an engineer and qualified person under NI 43-101, who has visited the properties, has read and approved this release.
Caution concerning forward-looking statements
This press release contains certain "forward-looking statements", including. but not limited to, the statement regarding exploration work and the emphasis on looking for a certain type of deposit. Forward-looking statements involve a number of risks and uncertainties. There can be no assurance that such statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements.
A map is available at the following link:
http://media3.marketwire.com/docs/Map_Carte_KCRA0225.pdf.
The CNSX does not accept responsibility for the adequacy or accuracy of this release.
Contact
Cancor Mines Inc.
Kamil Khobzi, Eng. MBA, President and CEO
(514) 849-3013
(514) 384-6399 (FAX)