The statements which are not historical facts contained in this release are forward-looking statements that involve risks and uncertainties, including but not limited to, the effect of economic conditions, the impact of competition, the results of financing efforts, changes in consumers' preferences and trends. The words "estimate," "possible," and "seeking" and similar expressions identify forward-looking statements, which speak only to the date the statement was made. The Company undertakes no obligation to publicly update or revise any forward-looking statements, because of new information, future events, or otherwise. Future events and actual results may differ materially from those set forth herein, contemplated by, or underlying the forward-looking statements.
WELCOME TO CANNON EXPLORATION
Cannon Exploration Inc is a junior mineral and resource exploration company, focused on precious metals exploration in Canada.
Cannon holds an option to acquire up to 100% interest in the Queen Alexandra gold mine, located approximately 50 km south of Dryden in northwestern Ontario, Canada. The property consists of 40 claims comprising approximately 650 hectares.
The Queen Alexandra property is located near the historic "Gold Rock" Mining Camp, with Gold first being discovered in the Manitou lakes region before 1894, and the local "gold rush" occurring from 1895 to 1912. Historically there were about 20 "mines" in the Gold Rock area that would currently be classified as prospects.
There are 61 known gold showings, occurrences, prospects and deposits along the Upper Manitou Lake area (Gold Rock mining camp), including three past producers. Ninety percent of the known occurrences are located within what is referred to as the Manitou Straits Deformation Zone (MSDZ). The Queen Alexandra property is located within this zone.
Geological surveying and sampling of zones of interest on the property have been completed including VLF and MAG surveys. Mapping was conducted with particular effort devoted to establishing the location and structure involved within the mineral occurrence. The MAG and VLF surveys were conducted in 2008 and 2009 respectively, and the mapping portion of the most recent fieldwork was completed in June 2010.
Cannon will continue with the exploration of the property by conducting an Induced Polarization (IP) survey over the prospective zone, accompanied by additional sampling
October 28th, 2010