Canyon Copper Corp. (TSXV:CNC) is pleased to announce that the Company has completed the planned diamond drilling program on Canyon’s Bootleg Lake project. The Bootleg Lake project is located near Creighton, Saskatchewan, Canada, five kilometres southwest of the city of Flin Flon, Manitoba.
During early February 2018, Canyon was granted a Surface Exploration Permit by the Saskatchewan Ministry of the Environment, and in the second half of February began drilling at the Rio and Newcor target areas. This drill program was completed in March 2018 with 4 NQ diamond drill holes completed, totaling 1,446 metres. Three drill holes were completed at the Rio (Bootleg) target and one at the Newcor target.
The exploration plan was to drill target two high priority targets on the Bootleg Lake project, the past producing Newcor and Rio gold mines. The exploration strategy is to test historical data, expand the zones of known mineralization and obtain precise geological and structural information. At both targets the plan was to test potential at depth extension of the known working which had reached a maximum depth of 120 to 130 metres during mining in the 1940’s and 1980’s.
At the past producing Rio mine site, three diamond drill holes totaling 993 metres were completed from two drill sites. The drill holes were planned to intersect the Rio fault and zone of mineralization at a depth of between 175 and 250 metres below surface. At Newcor a single drill hole of 453 metres was completed as the program was modified due to ice conditions. The change in program resulted in a single longer drill hole.
Drill logging and sampling is underway, supervised by Anthony Spooner P.Geo. of Flin Flon, Manitoba. It is anticipated that initial results will be available within four weeks. Below is an outline of the sampling, QA/QC and analytical procedures.
Quality Assurance and Quality Control (“QA/QC”) Program
The Company has implemented a quality control program to ensure best practices in sampling and analysis of the core samples. The core is first logged then sawn in half during the sampling process with the half being retained for verification and reference purposes. During sample collection and assaying, there is an established QC procedure using standards, duplicates and blanks. The samples are then securely shipped to the TSL Laboratories (“TSL”) facility in Saskatoon, Saskatchewan, Canada.
At TSL in Saskatoon the samples will be crushed and pulverized in preparation for analysis. The samples will be analysed for gold using fire assay with AA finish. All samples with over 3g/t gold will undergo secondary analysis fire assay-gravimetric finish. In addition, all samples will be analysed using the TSL multi-element package ICP-AES Aqua Regis for 29 additional elements. Select elements will be reanalysed if over the ICP package limits. The coarse rejects and pulps are kept in Saskatoon for re-assaying purposes and then returned to the Canyon Copper storage site where they will be stored for long term verification and reference.
Canyon is also pleased to announce the Company will be exhibiting at the International Mining Investment Conference taking place May 15-16 in Vancouver at the Vancouver Convention Centre East.
Stephen Wallace, P.Geo., is the Company’s designated Qualified Person within the meaning of National Instrument 43-101 and has reviewed and approved the technical information contained in this news release.
On behalf of the Board of Directors,
CANYON COPPER CORP.
Stephen Wallace, President, CEO and Director
|Contact:||Canyon Copper Corp.|
Cautionary Statement Regarding Forward Looking Information
This News Release may contain, in addition to historical information, forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are identified by their use of terms and phases such as “believe,” “expect,” “plan,” “anticipate” and similar expressions identifying forward-looking statements. Investors should not rely on forward-looking statements because they are subject to a variety of risks, uncertainties and other factors that could cause actual results to differ materially from Canyon’s expectations, and expressly does not undertake any duty to update forward-looking statements. These factors include, but are not limited to the following, Canyon’s ability to implement its proposed drill programs on the Bootleg Project, Canyon’s ability to obtain additional financing, uncertainty of estimates of mineralized material and other factors which may cause the actual results, performance or achievements of Canyon to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.
Cautionary Note to U.S. Investors Regarding Estimates of Measured, Indicated and Inferred Resources
This News Release may use the terms “measured”, “indicated” and “inferred” “resources.” We advise U.S. investors that while these terms are recognized and required by Canadian regulations, the SEC does not recognize them. “Inferred resources” have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an “inferred mineral resource” will ever be upgraded to a higher category. Under Canadian rules, estates of “inferred mineral resources” may not form the basis of a feasibility study or prefeasibility studies, except in rare cases. The SEC normally only permits issuers to report mineralization that does not constitute “reserves” as in-place tonnage and grade, without reference to unit measures. U.S. investors are cautioned not to assume that any part or all of a measured, indicated or inferred resource exists or is economically or legally mineable.
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