Canyon Copper Corp Commences Trading Today as Tier One Company on TSX Venture Exchange with Symbol “CNC”
Canyon Copper Corp. (CVE:CNC) reports that following completion of its brokered private placement financing.
The press release is quoted as saying:
Phase I Exploration Program
The Company plans to commence phase I of its exploration program on the New York Canyon Project in July, 2011. The exploration program will involve the following:
- Re-assaying the 2006 drill program Longshot Ridge drill pulps, duplicate samples, blank samples and standards by an independent ISO 17025 certifiable laboratory to determine proper quality assured copper values for these samples.
- Revise Longshot Ridge resource estimate incorporating the additional information from the re-assayed values of the 2006 drill and systematic road cut samples.
- Apply for permits to drill on and around the Longshot Ridge and adjacent copper oxide targets.
- Apply for permits to drill the Copper Queen and Champion target areas.
- Assess potentials of copper oxide systems similar to the Longshot Ridge at the nearby Power Line and Buffington mine workings.
- Initiate further work on metallurgical testing and environmental base line studies for the Longshot Ridge deposit.
The New York Canyon property is located 30 miles (48 km) east of Hawthorne, Nevada. It consists of 21 patented claims covering 420 acres (170 hectares) of which 18 are leased, and 1,293 unpatented mining claims covering approximately 25,860 acres (10,781 hectares) for a total area of approximately 42 sq. miles. For the Longshot Ridge target, the Company has obtained an indicated mineral resource estimate, at a cut-off grade of 0.2% copper, of 16,250,000 tons at an average grade of 0.43% Cu, and an inferred mineral resource estimate, at cut-off grade of 0.2% copper, of 2,900,000 tons at an average grade of 0.31% Cu (see National Instrument 43-101 (“NI 43-101″) Technical Report filed on SEDAR on May 6, 2010 and news release dated May 3, 2010).