VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sep 16, 2015) - Cancana Resources Corp. (TSX VENTURE:CNY) (the "Company" or "Cancana") announced today that its joint venture Brazil Manganese Corp. ("BMC") has received the engineering report from Ausenco Ltd ("Ausenco") based on an audit of BMC's two plant operations. The report recommended that the best way of optimizing and increasing production is to concentrate operations at the Jaburi plant. The goal is to achieve cost savings through streamlining the plant, as well as providing reliable conditions for the company to achieve its production and safety goals.
Anthony Julien, President, CEO & Director
ABOUT AUSENCO
Ausenco is an ASX-listed, global, diversified engineering, construction and project management company providing services in minerals and metals, process infrastructure, program management, environment and sustainability and oil and gas. Across 31 offices in 19 countries, Ausenco delivers new and better ways to add value to clients' projects no matter how demanding, and deliver results in some of the world's most challenging environments. Further information can be found on the Company's website: www.ausenco.com.
ABOUT CANCANA
Cancana Resources Corp. is focused on exploring and developing the BMC manganese project in Brazil with its joint venture partner Ferrometals, a special purpose investment vehicle for The Sentient Group ("Sentient"). Sentient is a resource-focused private equity fund with approximately $2.7Bn in assets under management, and a 15-year track record for advancing resource projects from early stage through pre-feasibility and development and into production. Cancana and Ferrometals are employing a two-pronged strategy at BMC. The primary objective is to advance BMC to an initial resource and onward to pre-feasibility, while also expanding current small-scale production to support those exploration activities. Further information can be found on the Company's website: www.cancanacorp.com.
FORWARD-LOOKING STATEMENTS
Some statements in this news release contain forward-looking information or forward-looking statements for the purposes of applicable securities laws. These statements include, among others, statements with respect to the Company's plans for exploration and development of the Brazil properties and potential mineralization. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such risk factors include, among others, failure to obtain regulatory approvals, failure to complete anticipated transactions, the timing and success of future exploration and development activities, exploration and development risks, title matters, inability to obtain any required third party consents, operating hazards, metal prices, political and economic factors, competitive factors, general economic conditions, relationships with strategic partners, governmental regulation and supervision, seasonality, technological change, industry practices and one-time events. In making the forward-looking statements, the Company has applied several material assumptions including, but not limited to, the assumptions that: (1) the proposed exploration and development of mineral projects will proceed as planned; (2) market fundamentals will result in sustained metals and minerals prices and (3) any additional financing needed will be available on reasonable terms. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation.
The Company cautions that it has not completed any feasibility studies on any of BMC's mineral properties, and no mineral reserve estimate has been established. Because the Company production decision is not based upon a feasibility study of mineral reserves, the economic and technical viability of the property has not been established.