Marketwired .

Subscribe to Marketwired .: eMailAlertsEmail Alerts
Get Marketwired . via: homepageHomepage mobileMobile rssRSS facebookFacebook twitterTwitter linkedinLinkedIn

Related Topics: 4G Technology Journal

4G Journal: News Feed Item

Gold Canyon Targets Au-Pt-Pd-Ni-Cu and Stakes More Ground at Horseshoe Island

Gold Canyon Targets Au-Pt-Pd-Ni-Cu and Stakes More Ground at Horseshoe Island

VANCOUVER, BRITISH COLUMBIA -- (MARKET WIRE) -- 07/27/07 -- Gold Canyon Resources Inc. (TSX VENTURE: GCU)(PINK SHEETS: GDCRF) ("Gold Canyon" or "the Company") is pleased to announce that it has staked additional ground to link its new Horseshoe Island property to its Springpole property and extend coverage over favourable geology to the west. Initial fieldwork is focusing on the Au (gold) - Pt (platinum) - Pd (palladium) - Ni (nickel) - Cu (copper) potential of the new ground (The Company has an option to acquire 100% of the Horseshoe Island Project. Refer to the Company News Release dated June 22, 2007).

Gold Canyon is also pleased to welcome Thomas Clarke as a consultant to the exploration team. He has considerable experience working on some of the world's greatest Pt-Pd-Ni mines in South Africa as well as an exploration project in northwest Russia. Our team is currently exploring a sulphide-bearing, layered gabbro target where a single drill hole was previously sampled by Ontario Geological Survey geologists who reported in OFR5835 results from the PT Zone of 5.8g Au, 4.4g Pt, 3.4g Pd, 9.4g Ag, 0.8% Ni and 0.9% Cu over 1.5 meters.

Core from past drilling of the PT Zone has been recovered and is now being saw cut for additional assaying. Power washing and channel sampling across the projection of the PT Zone on surface continues.

Additional staking by the Company now brings the combined, contiguous land position for the Horseshoe Island-Springpole Property to 28,935 acres (11,710 hectares). A news release made June 22, 2007 erroneously stated that the new Horseshoe Island Property covered 31,600 acres. It should have stated 3,160 acres.

Fieldwork is expected to start at the Company's Bear Head Uranium Property in early August.

Gold Canyon's exploration efforts in Canada are currently centred around the Red Lake Mining Camp in north-west Ontario. The Springpole Gold Project is 70 miles to the east, and the Favourable Lake and Bear Head Projects are 120 miles to the north of Red Lake.

Mr. Garry K. Smith, P.Geo., is the Company's Vice President of Exploration and acts as the qualified person on the Springpole-Horseshoe Island and Bear Head Projects as defined by National Instrument 43-101. This news release has been reviewed by Mr. Smith.

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 Project and the Bear Head Uranium Project which is adjacent to their 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.

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.

Additional information can be found on the Company's website: www.goldcanyon.ca.

Akiko Levinson, President & Director

Certain statements contained in this news release using the terms "may", "expects to", "projects", "estimates", "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 Company's 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 contemplate 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 company's 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.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Gold Canyon Resources Inc.
Vic Weckerle
Investor Relations
(604) 682-3234 or Toll Free: 1-888-242-3234
(604) 682-0537 (FAX)
Email: vic@goldcanyon.ca
Website: www.goldcanyon.ca

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.