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Cancana Resources (TSXV:CNY) NI 43-101 Technical Report for the Rio Madeira Manganese Property in Brazil Shows Grade Exceeding 50% - Video News Alert on InvestmentPitch.com


March 27, 2014 - London

Vancouver, BC, March 27, 2014 - Cancana Resources (TSXV:CNY) has filed a NI 43-101 Technical Report for the Rio Madeira manganese property in Brazil, where the company is focussing its efforts on becoming a manganese producer in the province of Rondonia, Brazil.

 
 

InvestmentPitch.com has produced a "video news alert" about Cancana Resources. If this link is not enabled, please visit www.InvestmentPitch.com and enter "Cancana" in the search box.

An earlier NI 43-101 Technical Report on the company`s original property showed 35,000 tonnes of mineralization in the Inferred category, with a grade of 54% Manganese.

In situ Manganese cobbles are found in the creek bed sidewall, with trenching exposing bolders up to one cubic metre and larger in size. These results came from a small area of only 4.4 hectares of the 41,351 hectares comprising this project, and only to a depth of 3 metres. This project is permitted and operations commenced in late 2013, and the company is currently stockpiling Manganese lump ore.

The new NI 43-101 Technical Report covers the Rio Madeira property, which Cancana acquired in December 2013. The Rio Madeira property has a current Inferred Resource of 1,006,234 tonnes of mineralization with an average grade of 52% manganese taken from an area of approximately 146 hectares, with the total property size of approximately 72,500 hectares of high grade Manganese bearing claims.

Rio Madeira, a producing Manganese mine that has been in operation for the past 8 years, produces lump ore of varying sizes and is located adjacent to, and mainly contiguous with, Cancana`s operations. Historically it has produced approximately 1,200 tonnes per month, with a 3,000 tonne per month plant capacity.
 
Cancana recently closed a series of private placements, which resulted in Ferrometals BV owning in excess of 10% of Cancana. Cancana and Ferrometals will operate Rio Madeira as a 50-50 joint venture.

Manganese has a variety of uses, with the steel industry consuming more than 97%, as it uses 8 to 12 kilograms of manganese to produce 1 tonne of steel. Dry fertilizer uses 2 to 6% Manganese by volume, with liquid fertilizer containing up to 30% by volume. Other uses include prototype batteries, electronics and specialty chemicals.

The shares are currently trading at $0.32.

For more information, please visit the company's website www.cancanacorp.com or call 403-269-2065 or email cancana.ir@cancanacorp.com.

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