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Resource Clips


Posts tagged ‘Gold Canyon Resources Inc (GCU)’

Red Lake reports

April 8th, 2013

Confederation/Redstar and Rubicon work towards Ontario gold PEAs

by Greg Klein

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Should Newman Todd begin with a small starter pit or go directly underground? That’s the question Confederation Minerals TSXV:CFM will address with its just-commissioned preliminary economic assessment, to be released later this year. On April 8 the company announced another batch of assays from its winter drill campaign in northwestern Ontario’s Red Lake Greenstone Belt. Some highlights include:

  • 1.92 grams per tonne gold over 36 metres, starting at 103 metres
  • (including 7.56 g/t over 1 metre)
  • 1.3 g/t over 38 metres, starting at 75 metres
  • (including 9.1 g/t over 1 metre)
  • 2.62 g/t over 19 metres, starting at 202 metres
  • (including 10.9 g/t over 1 metre)
  • 63.1 g/t over 0.5 metres, starting at 297 metres
  • 1.21 g/t over 22 metres, starting at 297 metres
  • (including 8.66 g/t over 1 metre)
  • 1.82 g/t over 16 metres, starting at 53 metres
  • (including 2.54 g/t over 9 metres).
Confederation/Redstar and Rubicon work towards Ontario gold PEAs

Mineralization closer to surface distinguishes
Newman Todd from other Red Lake projects.

The down-hole depths provided don’t reflect vertical depths. Intercept true widths weren’t available. No topcut was applied to assays.

Confederation describes the Newman Todd structural/alteration system as approximately 200 metres in width, with significant intercepts to depths of 850 metres from surface. Most of the April 8 assays came from drilling “within a relatively restricted area” about 200 metres along the zone’s strike length and at least 50 metres on sections perpendicular to strike, the company added. The maiden resource and PEA will focus on the project’s Hinge zone.

“One of the things with Red Lake and this type of geology is that it tends towards more vertically oriented systems,” Confederation president/director Brian Bapty tells ResourceClips. “But we have a very, very long strike length of 1.8 kilometres with good grades near surface. So if you look at other people drilling at Red Lake, they tend to be drilling quite deep. We can find near-surface ounces, which are cheaper to drill, but they don’t speak to the size of the opportunity.”

With size, however, comes challenges. “One of the problems of having a strike length of 1.8 kilometres by at least a kilometre deep is that it would take us years and cost millions to drill the entire thing out. So we want to focus our business plan on the most economic ounces, on what’s the best way forward—a starter pit or direct to underground. Answering those questions early is important to us.”

More assays are pending and drilling continues. Winter allows work on a frozen lake and marsh, Bapty points out. “After break-up we can move back onto solid ground.”

Confederation funds and operates the project under option with Redstar Gold TSXV:RGC. With its initial $5-million work requirement already complete, Confederation can achieve a 50% interest by paying Redstar $75,000 and 150,000 Confed shares. The PEA, along with another 500,000 shares, would boost Confederation’s portion to 70%.

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Gold Canyon reports Ontario Gold Assays up to 1.45 g/t over 367.4m

August 21st, 2012

Resource Clips - essential news on junior gold mining and junior silver miningGold Canyon Resources Inc TSXV:GCU announced assay results from its 100%-controlled Springpole Gold Project located 110 kilometers northeast of the Red Lake Mining Camp in Ontario. Highlights include:

1.59 grams per tonne gold over 15.5 metres
1.47 g/t gold over 367.4 metres
(including 6.64 g/t gold over 8 metres)
1.41 g/t gold over 10 metres
0.71 g/t gold over 175 meters
0.79 g/t over 42 metres
0.93 g/t gold over 124 metres
(including 5.1 g/t over 4.4 metres)
0.75 g/t gold over 196 metres
1.23 g/t gold over 95 metres
(including 15.93 g/t gold over 2 metres)
0.59 g/t gold over 82 metres
0.83 g/t gold over 50 metres
(including 3.38 g/t gold over 4 metres)
0.83 g/t gold over 57 metres
0.92 g/t gold over 171 metres
0.52 g/t gold over 100 metres
1.4 g/t gold over 330 metres
(including 6.47 g/t gold over 4 metres)

Director and technical advisor Quinton Hennigh commented, “We are very pleased with the assays results from recent drill holes that will be used to update our National Instrument 43-101 compliant resource. The Portage Zone continues to produce exceptional grade thickness intervals, confirming one of its many attributes. Now that we have results in hand, we expect to receive an updated resource from our independent qualified person by early 4Q of this year.”

View Company Profile

Leo Karabelas
Investor Relations
416.543.3120

by Kevin Michael Grace

Gold Canyon reports Ontario Gold Assays up to 1.08 g/t over 361m, 1.09 g/t over 218m

July 24th, 2012

Resource Clips - essential news on junior gold mining and junior silver miningGold Canyon Resources Inc TSXV:GCU announced assay results from its 100%-controlled Springpole Gold Project located 110 kilometers northeast of the Red Lake Mining Camp in Ontario. Highlights include:

1.08 grams per tonne gold over 361 metres
(including 2.92 g/t gold over 19.8 metres)
1.09 g/t gold over 218 metres
(including 6.03 g/t gold over 3 metres)
1.81 g/t gold over 43.5 meters
(including 3.11 g/t gold over 15.3 metres)
2.6 g/t over 28 metres
(including 29.1 g/t gold over 2 metres)
0.94 g/t gold over 61.5 metres
0.64 g/t gold over 70 metres
0.79 g/t gold over 178 metres
0.82 g/t gold over 68.5 metres
0.71 g/t gold over 102 metres
(including 3.81 g/t gold over 5 metres)
0.7 g/t gold over 86 metres
0.85 g/t gold over 143.5 metres
0.81 g/t gold over 199 metres

Director and technical advisor Quinton Hennigh commented, “Stepout drilling by barge early this summer indicated the Portage Zone continues to the 0-250 meter section. Given this encouragement, we decided to quickly infill drill this southeastern part of the deposit with the goal of adding ounces to our upcoming National Instrument 43-101-compliant resource update. Results from recent drill holes in this area continue to provide strong encouragement that we can quickly grow the deposit.”

View Company Profile

Leo Karabelas
Investor Relations
416.543.3120

by Kevin Michael Grace

Gold Canyon reports Ontario Gold Assays up to 1.5 g/t over 343m, 0.97 g/t over 323.5m

June 22nd, 2012

Resource Clips - essential news on junior gold mining and junior silver miningGold Canyon Resources Inc TSXV:GCU announced the first assay results from its barge drilling program at its 100%-controlled Springpole Gold Project located 110 kilometers northeast of the Red Lake Mining Camp in Ontario. Highlights include:

1.5 grams per tonne gold over 343 metres
(including 3.44 g/t gold over 108 metres)
(including 5.27 g/t gold over 30 metres)
0.63 g/t gold over 210 meters
(including 1.24 g/t gold over 32 metres)
0.8 g/t over 116.9 metres
0.97 g/t gold over 323.5 metres
(including 2.41 g/t gold over 36 metres)
0.53 g/t gold over 213 metres
9.88 g/t gold over 8 metres

Director and technical advisor Quinton Hennigh commented, “Our first results from stepout barge drilling are very encouraging. Recent results clearly indicate the Portage Zone extends to the 0 to 250 meter section. In addition, hole SP12-146 is the first hole to demonstrate higher grades persist into this area. Over the remainder of this year, we plan to pursue stepout and infill drilling to expand the southeastern extension of the Portage Zone.”

View Company Profile

Leo Karabelas
Investor Relations
416.543.3120

by Jay Currie

Gold Canyon reports Ontario Gold Assays up to 34.19 g/t over 8m

June 5th, 2012

Resource Clips - essential news on junior gold mining and junior silver miningGold Canyon Resources Inc TSXV:GCU reported results from its 100%-controlled Springpole Gold Project, 110 kilometers northeast of the Red Lake Mining Camp, Ontario. Highlights include

0.8 grams per tonne gold over 244.7 metres
(including 2.57 g/t gold over 14 metres
0.96 g/t gold over 68 metres)
1.42 g/t gold over 26 metres
(including 8.49 g/t gold over 9 metres)
0.73 g/t gold over 51 metres
0.56 g/t gold over 28.8 metres
6.79 g/t gold over 4 metres
34.19 g/t gold over 8 metres
(including 134.35 g/t gold over 2 metres)

Gold Canyon technical advisor and director of Quinton Hennigh commented, “Solid results keep coming from Springpole. We are very pleased to receive consistent, strong gold intercepts from the southeast part of the Portage Zone where we continue to see lots of room for growth. High-grade results from under the Main Zone are both encouraging and intriguing. Although the geometry of this mineralization is not fully understood, these are some of the highest grade intercepts seen on the property and may prove to be an important part of this very large gold system.”

View Company Profile

Contact: 604.682.3234 or toll-free 1.888.242.3234

or Leo Karabelas
Investor Relations
416.543.3120

by Kevin Michael Grace

Gold Canyon reports Ontario Gold Assays as high as 1.58 g/t over 330m

May 3rd, 2012

Resource Clips - essential news on junior gold mining and junior silver miningGold Canyon Resources Inc TSXV:GCU announced results from its Springpole Gold Project in Ontario. Assays include

0.44 g/t over 18 metres
1.58 g/t gold over 330 metres (including 4.15 g/t over 48 metres)
0.53 g/t over 69.5 metres
0.71 g/t over 79 metres

Director Quinton Hennigh commented, “We are extremely pleased that barge drilling is now underway. Hole SP12-122 demonstrates the robust width and grade of the Portage Zone in the southeast portion of the system. Given these and other recent strong results from this area, we are anxious to undertake an aggressive drill plan here that we think will quickly increase the size of the deposit.”

View Company Profile

Contact:
Leo Karabelas
Investor Relations
416.543.3120

by Ted Niles

Gold Canyon reports Ontario Gold Assays up to 1.93 g/t over 188m

April 25th, 2012

Resource Clips - essential news on junior gold mining and junior silver miningGold Canyon Resources Inc TSXV:GCU announced assays from its Springpole Gold Project in Ontario. Results include

0.72 g/t gold over 81 metres
1.3 g/t over 24 metres
3.07 g/t over 4 metres
1.11 g/t over 115.6 metres
1.11 g/t over 78 metres
3.25 g/t over 8 metres (including 15.61 g/t over 1 metre)
0.77 g/t over 115.7 metres
1.93 g/t over 188.3 metres (including 18.17 g/t over 3 metres)
18.02 g/t over 7 metres (including 41.37 g/t over 3 metres)
1.54 g/t over 19.5 metres

Director Quinton Hennigh commented, “We are pleased to see many of these recent drill holes demonstrate good continuity of mineralization beneath the current NI 43-101 compliant resource. We are also intrigued by the new high-grade zone discovered between the Portage and East Extension zones. Hole SP12-120 provides our first strong evidence for the extension of the Portage Zone to the southeast. We have aggressive plans to follow up on all of these results once our barge-based drill campaign begins in a couple weeks.”

View Company Profile

Contact:
Leo Karabelas
Investor Relations
416.543.3120

by Ted Niles

Gold Canyon reports Ontario Results as high as 1.83 g/t Gold over 283m

March 13th, 2012

Resource Clips - essential news on junior gold mining and junior silver miningGold Canyon Resources Inc TSXV:GCU announced assays from its Springpole Gold Project in northwest Ontario. Results include

1.83 g/t gold over 283 metres
(including 3.57 g/t over 99.6 metres)
2.03 g/t over 121 metres
(including 4.01 g/t over 41 metres)
0.98 g/t over 50 metres
0.8 g/t over 51 metres
1.09 g/t over 30.5 metres
0.59 g/t over 33 metres
0.38 g/t over 42 metres
(including 1.06 g/t over 6 metres)

Technical Adviser/Director Quinton Hennigh remarked, “We are pleased to see our initial results from 2012 further demonstrate good continuity of mineralization at Springpole. None of the holes in this news release were included in our recently released 43-101-compliant resource estimate but will be used in a revised estimate scheduled to be released later in 2012. Assays from these holes are a good start to our aggressive 2012 drill program already underway.”

View Company Profile

Contact:
Akiko Levinson
President/Director
604.682.3234
888.242.3234

by Greg Klein

Gold Canyon reports Ontario Springpole Project Resource Estimate

February 29th, 2012

Resource Clips - essential news on junior gold mining and junior silver miningGold Canyon Resources Inc TSXV:GCU announced that it has updated the NI 43-101 resource estimate for its Springpole gold project northeast of Red Lake, Ontario. Springpole now has indicated resources of 30 million tonnes grading 1.26 g/t gold and 5 g/t silver for contained ounces of 1.22 million gold and 4.82 million silver. The project has inferred resources of 60 million tonnes at 1.27 g/t gold and 6 g/t silver for 2.45 million ounces gold and 11.58 million ounces silver.

Director Quinton Hennigh commented, “The very positive news announced today is a testament to careful geological modelling, the hard work of project management and staff, and to the tenacity of Gold Canyon’s management. Although the large size of this resource is impressive, we feel that the gold and silver grades are an equally important reflection of the high quality of the Springpole Project. This resource gives us a solid foundation upon which we believe we can quickly build significant upside through ongoing drilling in near-surface areas proximal to this resource, along the strike of the Portage Zone to the southeast, and at depth where drilling has recently encountered higher-grade mineralization.”

View Company Profile

Contact:
Akiko Levinson
President/Director
604.682.3234

or Leo Karabelas
Investor Relations
416.543.3120

by Ted Niles

Gold Canyon reports Ontario Gold Assays up to 1.66 g/t over 148m

December 14th, 2011

Resource Clips - essential news on junior gold mining and junior silver miningGold Canyon Resources Inc TSXV:GCU announced results from its Springpole Gold Project in the Red Lake Mining District of Ontario. Highlights include

1.66 g/t gold over 148 metres
(including 5.94 g/t over 24 metres)
1.67 g/t over 121 metres
(including 3.21 g/t over 37 metres)
2 g/t over 90 metres
(including 3.74 g/t over 40.5 metres)
0.8 g/t over 176 metres
(including 2.01 g/t over 19.5 metres)
0.79 g/t over 91 metres
(including 1.65 g/t over 12 metres)
0.62 g/t over 77.5 metres

Technical Adviser/Director Quinton Hennigh remarked, “We are very pleased to now have all the gold assays needed to complete our revised NI 43-101-compliant resource at Springpole. The results from these holes are very encouraging and are consistent with the many long intercepts of gold mineralization that we have reported since the beginning of our drilling campaign here 22 months ago.”

View Company Profile

Contact:
Akiko Levinson
President/Director
604.682.3234
888.242.3234

or Leo Karabelas
Investor Relations
416.543.3120

by Greg Klein