Canyon identifies gold targets at Brazil’s Rio Maria property

Colorado-based Canyon Resources (CAU-X) has discovered gold mineralization at its Rio Maria property in the northern Brazilian state of Para.

Stream sampling, geochemical soil surveying over 350 line metres, and 1,200 metres of trenching identified five areas of mineralization on the 60,000-ha property.

Preliminary trenching at the Pampeana target area, which measures 7 km long and 1 km wide, revealed numerous zones in altered bedrock (saprolite) grading 0.5-5.3 grams gold per tonne over 1-3 metres. In addition, soil sampling there uncovered anomalous gold values associated with altered volcaniclastic rocks with mafic intrusives within the greenstone sequence.

At the Rufino target, which measures 4 km long by 400 metres wide, stream-sediment sampling returned gold values, and trenching there returned 0.1-0.8 gram gold from an area underlain by altered rock.

Of the three remaining areas, one is known to contain banded iron formations (magnetite), massive ironstone (hematite) and anomalous gold-in-soil values.

The region is known for its gold deposits, and an estimated 500,000 oz. have been mined by garimpeiros from alluvial and bedrock deposits on or near the property.

An airborne geophysical survey is in the planning stages, and Canyon will continue sampling and trenching in an attempt to define drill targets.