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Cancana Resources Corp.
Summary
| Project: | BMC Project | |
|---|---|---|
| Deposit: | BMC Project | |
| Location: | Brazil | |
| Commodities: | Manganese-Gold-Tin | |
| Date: | 10/17/2016 | |
| Report Code: | NI43-101 | |
| Report Type: | Supporting Acquisition | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 17-10-2016: Cancana Resources Corp. announces a Supporting Acquisition report for its BMC Project deposit at the BMC Project project. Summary of property in support of proposed acquisition. This report was prepared as an exploration-level Canadian Nationa | |
| Resources: | x | |
| CP/QP: | [Overall Report]: J.B. Pennington (SRK Consulting (US) Inc.) | |
| ABSTRACT: | This report was prepared as an exploration-level Canadian National Instrument 43-101 (NI 43-101) Technical Report (Technical Report) for Cancana Resources Corp. (CNY) by SRK Consulting (U.S.), Inc. (SRK) on Brazil Manganese Corporation’s (BMC or the Company) BMC Project (the Project). This report has been prepared to inform the market of the status of Project exploration activities and prospectivity in advance of a proposed ownership restructure reported by CNY to the TSX on 21 July 2016. The proposed restructure would be implemented by way of a plan of arrangement under the British Columbia Business Corporations Act, pursuant to which Ferrometals will acquire all of the securities of CNY in exchange for securities of Ferrometals, after Ferrometals has converted its legal form to that of a Societas Europaea. Ferrometals would seek to assume CNY’s listing on the TSX-V exchange. BMC produces a high-quality manganese (Mn) oxide product for sale to steel manufacturers, the fertilizer industry and other niche markets. The Company is engaged in exploration for manganese oxide mineralization and other commodities on its property portfolio. | |
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