Briggs gets bigger for Canyon

Canyon Resources (CAU-X) has increased minable reserves at the Briggs gold mine, in southeastern California.

Drilling has outlined mineralized material at two targets, the North Briggs and Goldtooth, and expanded minable reserves by 49%.

At North Briggs, the company drilled 151 holes in a program spanning 48,640 ft. The result was 3.6 million tons of new reserves grading 0.054 oz. gold per ton, equivalent to 198,000 contained ounces. At Goldtooth, 132 holes were drilled in a 38,600-ft. program, resulting in 2.9 million tons of 0.043 oz., or 125,700 contained ounces.

In total, the new reserves add up to 6.5 million tons grading 0.049 oz. gold, or 318,700 contained ounces.

Prior to commercial production, which began in March, reserves at the mine stood at 21.9 million tons grading 0.030 oz., or 653,000 contained ounces.

Although the stripping ratios at the new targets are higher than those of the main deposit, the higher gold grades can support the high ratios. At North Briggs, the stripping ratio is 7.8-To-1; at Goldtooth, 5.4-To-1.

Mineralization at North Briggs is found in a tabular, brecciated body along a low-Angle fault, which thickens to the east as it approaches the Goldtooth fault, a regionally persistent, high-Angle structure.

The mineralization at North Briggs appears to be contiguous with the main Briggs deposit, whereas Goldtooth is several hundred feet south of the main pit.

The new reserves will allow Canyon to increase annual production to 90,000 oz. by 1998 from 75,000 to 85,000 oz. currently. The company plans to submit permit applications for the proposed mine expansion in the next month.

To date, the mine has cranked out 24,100 oz.

Meanwhile, exploration along the eastern side of the Panamint range has turned up another discovery. At Pleasant Canyon, 9 miles north of the main deposit, the company has drilled four holes into two mineralized horizons which extend from the surface to a depth of 500 ft.

The first hole intercepted 65 ft. grading 0.068 oz. per ton, while another hit 50 ft. of 0.048 oz. In all, five holes have been drilled into the target, four of which intersected mineralization.

The holes intersected two brecciated zones that appear to be shears. These west dipping zones have been sampled at the surface and drilled to a depth of about 500 ft. More drilling is planned.