🕐22.06.10 - 21:25 Uhr
News Release: Gold Canyon Announces Springpole Summer Drill Program to Begin Shortly
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Re: News Release - Tuesday, June 22, 2010
Gold Canyon Announces Springpole Summer Drill Program to Begin
Shortly
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Gold Canyon Resources Inc.
(GCU: TSX-V) ("Gold Canyon" or "the
Company") is pleased to announce that mobilization for its summer drill
program at its 100% controlled Springpole Gold Project in the Red Lake
Mining District in Ontario, Canada has begun.
- The Summer 2010 diamond drill program will total approximately 6,000
meters.
Two drills from Rodren Drilling of Winnipeg, Manitoba, have
been contracted to undertake the program.
- Extending the Portage Zone to the southeast is a primary focus of
this campaign.
Previously announced results from the Portage Zone from
Winter 2010, include 64.0 meters @ 3.30 grams per tonne gold (209.9
feet @ 0.096 oz per ton gold) in hole SP10-002 and 55.0 meters @ 2.21
grams per tonne gold (180.4 feet @ 0.065 oz per ton gold) in hole
SP-005.
If successful, step-out holes will extend this zone of
porphyry-style mineralization to an overall length of nearly one
kilometer.
Additional holes will evaluate this zone at depths of
greater than 250 meters where it remains open.
- Extensions of the high grade East Zone will also be tested including
a drill "gap" between the East Extension and Portage Zones.
- Additional target areas have been selected between the high grade
Main Zone and porphyritic-style Portage Zone to define the link between
these two distinct zones of gold mineralization.
"We are extremely pleased to return to the work of moving Springpole
toward pre-feasibility," states Quinton Hennigh, technical advisor to
Gold Canyon.
"A review of results from our 2010 Winter program suggests
the Portage Zone is higher grade than demonstrated by historic
drilling.
Our drill recoveries were great, and we believe this
contributed to better, and more consistent grades across this robust
zone.
Much of this summers program continues to test this zone, so we
are hopeful we will see further improvement in size and grade."
Quinton Hennigh, Ph.D., P.Geo., is the Qualified Person pursuant to
National Instrument 43-101 responsible for, and has reviewed and
approved, the technical information contained in this news release.
Dr.
Hennigh is acting as a technical advisor to Gold Canyon.
About Gold Canyon Resources Inc.:
Gold Canyon is engaged in the acquisition and exploration of mineral
and precious metals properties.
The Company controls a 100% interest in
the Springpole Gold - Horseshoe Island Gold, Platinum, Palladium
Project and Favourable Lake Poly-metallic property currently under
option to Shoreham Resources Inc.
pursuant to an option and joint
venture agreement entered into in December 2005 - all in the Red Lake
Mining District of Ontario, Canada.
Through its wholly owned U.S.
subsidiary, Gold Canyon Resources USA
Inc., the Company controls a 100% interest in the Cordero Gallium
Project situated in Humboldt County, Nevada, U.S.A.
Gold Canyon entered into a Joint Exploration Agreement with the Japan
Oil, Gas and Metals National Corporation (JOGMEC) in January 2009.
Additional information can be found on the Companys website:
www.goldcanyon.ca
Akiko Levinson,
President & Director
For further information, please contact:
Tel: (604) 682-3234 Toll free: 1 (888) 242-3234 Fax: (604)
682-0537
Investor Relations: Leo Karabelas, Tel: (416) 543-3120 Email:
Certain statements contained in this news release using the terms
"may", "expects to", "project", "estimate", "plans", and other terms
denoting future possibilities, are forward-looking statements in
respect to various issues including upcoming events based upon current
expectations which involve risks and uncertainties that could cause
actual outcomes and results to differ materially.
The future conduct of
the Companys business and the feasibility of its mineral exploration
properties are dependent upon a number of factors and there can be no
assurance that the Company will be able to conduct its operations as
contemplated and the accuracy of these statements cannot be guaranteed
as they are subject to a variety of risks that are beyond our ability
to predict or control and which may cause actual results to differ
materially from the projections or estimates contained herein.
The
risks include, but are not limited to, the risks described in the above
press release; those risks set out in the companys disclosure
documents and its annual, quarterly and current reports; the fact that
exploration activities seldom result in the discovery of a commercially
viable mineral resource and are also significant amounts of capital to
undertake and the other risks associated with start-up mineral
exploration operations with insufficient liquidity, and no historical
profitability.
The Company disclaims any obligation to revise any
forward looking statements as a result of information received after
the fact or regarding future events.
Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this news
release.
Associated File:
http://www.goldcanyon.ca/i/pdf/gcu-news-2010-0622-1.pdf
23 KB in size, approx.
5 seconds to download at 56.6Kbps
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Copyright (c) 2010 GOLD CANYON RESOURCES INC.
(GCU) All rights
reserved.
For more information visit our website at
http://www.goldcanyon.ca/ or send mailto:
Message sent on Tue Jun 22, 2010 at 11:51:01 AM Pacific Time
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