Gold Canyon hits bonanza grades at Springpole

Vancouver A winter drilling program by Gold Canyon Resources (GCU-V) has returned some bonanza grades from the Springpole property in Ontario’s Red Lake mining district, including an 8-foot intercept grading 1.5 oz. gold per ton.

Results are in hand for the initial eight holes of the newly completed winter drill program. The 8-foot intersection, which included 3.2 feet of 3.7 oz. gold, was from the best of several holes that tested the Main and Vein zones in the core area. Other highlights from drilling in the core area are: 18 feet of 0.63 oz. gold, 2.5 feet of 0.88 oz. gold, 2 feet of 0.54 oz. gold, and 12.2 feet of 0.27 oz. gold.

Another highlight from the program was a hole drilled in the East Extension zone to test down-dip projections of known mineralization. While the hole did not intersect high-grade mineralization, it did return 15.9 feet averaging 0.065 oz. gold from 344.1 to 360 feet.

Gold Canyon was also encouraged by drilling in the Southwest Target situated one mile from the core area, with the highlight being 0.449 oz. gold over 3 feet, within a larger 12-foot interval averaging 0.172 oz. gold. The Southwest Target is the first of a number of new target zones that had never been tested by previous programs at the property.

Results are pending for 13 additional holes completed in winter campaign. In addition to its wholly owned Springpole property, Gold Canyon controls 100% of the Favorable Lake polymetallic project, also in the Red Lake Camp. The company also owns 100% of the Cordero gallium project in Humboldt County, Nevada. Gallium is used for a variety of industrial and medical purposes.