Saturday 22nd October 2016

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Gold Canyon reports Ontario Gold Assays up to 2.3 g/t over 132m

Gold Canyon Resources Inc GCU:CA announced assay results from the Portage Zone of its Springpole Gold Project in the Red Lake Mining District, Ontario. Highlights include 1.75 g/t gold over 108 metres (including 3.18 g/t over 48 metres), 1.12 g/t over 4 metres, 2.3 g/t over 132 metres (including 5.28 g/t over 42 metres) and 6.17 g/t over 4 metres (including 15.77 g/t over 1 metre).

Geologist Quinton Hennigh commented, “Hole SP10-029 is anomalous for the Portage Zone which typically displays true widths of 100-150 meters and grades of around 1.3-1.5 grams per tonne gold. The true width of the Portage Zone represented by the intercept in SP10-029 is about 90 meters, yet the grade is significantly higher at 2.23 grams per tonne gold. This intercept may indicate that the zone narrows but increases in grade with depth. Hole SP10-028 tested a 100-metre gap in drilling in the southeast part of the Portage Zone. Although we were disappointed the hole did not penetrate the full width of the Portage Zone, we are very pleased to see it return good gold grades in this critical gap.”

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Leo Karabelas
Investor Relations

by Ted Niles

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