Company Information for Canaco Resources Inc

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TSX.V; CAN View full financial data

Company Statement

Canaco is an emerging junior exploration company focused on acquiring and developing quality precious metal assets worldwide.

Exploration and Acquisition Strategy

Canaco is well positioned to embark on a successful property acquisition program by drawing on the experience of its management team. Canaco’s management believes that the performance of the junior equity market has lagged behind rising commodity prices and that there is still significant leverage in this secular precious metal commodity cycle. As a result, there is tremendous opportunity for those companies with the capacity of acting quickly and aggressively over the short term.

Current Operations

El Oro Project
The 67 sq. km El Oro property hosts one of the most significant historic gold-silver producers in Mexico, with past production of over 20 million ounces of gold equivalent over a 400-year period. The property has excellent road access and is located 120 km northwest of Mexico City.

Morogoro Project
The Morogoro project is a gold and base metal discovery located in eastern Tanzania. Canaco Resources optioned the property in 2006 and has been working to develop the project through geologic mapping, geochemical analysis, and diamond drilling.

The Handeni Gold Project
The Handeni Gold District consists of numerous gold discoveries in an area of eastern Tanzania, highlighted by the Magambazi prospect, which currently hosts an active artisanal gold mining operation. Recent gold discoveries in the Handeni region have occurred on a district scale and have defined an extent of mineralization with a strike length of over 100 km.

The Magembe Project
The Magembe Project is a diamond exploration target located in northern Tanzania. The property surrounds the Mwadui (Williamson) Diamond Mine, and represents a portion of a buffer zone once surrounding the mine where exploration was prohibited. In 2003 the Mining Act was reformed, and Canaco Resources optioned the property in 2007. 

Geographical Spread

Mexico and Tanzania

Board of Directors and Key Management

Andrew Lee Smith, B.Sc.	Chairman & C.E.O.
Randy Smallwood	Independant Director
David Parsons	Independant Director
Brian Lock	Director
Andrew E. Saxton Jr.	Director
Geoffrey D.G. Peretz	Director

Company Address 500-602 West Hastings Street Vancouver, British Columbia, Canada V6B 1P2 Telephone: 604-488-0822 Facsimile: 604-899-1240 Email: investors[at]canaco.ca Website: http://www.canaco.ca

Additional Address/Key Contact Toll Free: 866-488-0822

Capital Shares Issued/Outstanding as of January 2008; 32,431,236 Fully Diluted; 37,372,514

Annual General Meeting Vancouver, B.C., CANADA

Year End June 30

Related News

11/10/07 - Canaco Resources Focuses on Tanzania With New Input About Targeting Mineral Deposits
12/04/07 - Canaco Resources Expands In Tanzania But Mexico Also Offers Upside

Most Recent Statement

05/05/08 - CANACO GENERATES NEW DRILL TARGETS AT HANDENI; SEMWALIKO DRILLING CONTINUES
11/04/08 - CANACO CLOSES ON $2.4 MILLION PRIVATE PLACEMENT
26/03/08 - Canaco Commences Drill Program at Handeni Gold Project, Tanzania
19/02/08 - Canaco Generates Drill Targets on Tanzanian Gold and Diamond Prospects
12/12/07 - Canaco's Handeni Project Exploration Identifies 6.2 Kilometre Gold Trend
05/12/07 - CANACO ANNOUNCES NEW GEOLOGICAL UNDERSTANDING CONFIRMS IMPORTANT REGIONAL GOLD POTENTIAL AT HANDENI PROJECT