!! Canyon Resources !! USA: CAU - Berlin: YCQ !! Gold - Silber - Kupfer - Uran !!! - 500 Beiträge pro Seite

[SilberEagle]

http://www.canyonresources.com/company/about.php

PROFILE

Canyon Resources Corporation, based in Golden, Colorado, was organized in 1979, commenced trading on the NASDAQ in 1986 and then on The American Exchange (AMEX: CAU) from 1996 onwards. The Company has a history of uranium and precious metals exploration success and can claim a number of significant discoveries. Canyon is involved in all phases of the mining business from exploration, development drilling, feasibility studies and permitting through project construction, operations and final closure. The Company has constructed and operated a total of three gold-silver mines in its history.

VISION

Canyon`s vision is to become a multi-mine gold producer backed by a strong pipeline of advanced stage exploration and development properties to provide ongoing growth potential. Our focus through this effort is to advance only those projects that will provide growth while adding to shareholder value. At the same time, we shall continue to seek avenues to achieve value from our extensive land positions, past exploration experience and databases through joint ventures.

FOCUS

The Company is focusing its efforts on developing or acquiring several advanced-stage gold/silver projects that can become mines to provide gold production and cash flow in the near term. The Company`s Reward property in Nevada and the Seven-Up Pete deposit in Montana are undergoing engineering evaluation for potential mine development. In addition, the Company has announced a step-out drilling and exploration program designed to extend the life of its Briggs Mine in California by developing either open pit or underground mineable reserves.

[SilberEagle]

GOLD MINES AND PROJECTS ¨

http://www.canyonresources.com/projects/projects.php

The Briggs Mine, in the desert of southeastern California, is an open-pit, heap leach operation, initially designed to produce an average of 75,000 ounces of gold per year over a seven-year life. The mine was constructed in 1996 and at March 31, 2005, has produced 545,928 ounces of gold and 153,458 ounces of silver. Since 1996, a total of 75.1 million tons of rock have been mined by open-pit methods, including 51.6 million tons of waste. Of the 23.6 million tons of ore mined, 18.7 million tons have been crushed and, along with 4.8 million tons of run-of-mine open-pit ore and 111,000 tons of high-grade underground ore, have been placed on the leach pad. A total of 733,850 ounces of gold has been placed on the leach pad during this period. Recoverable ounces in leach-pad inventory, at March 31, 2005, were 4,834 ounces of gold.



From 1997 through 2001, the ore was crushed in three stages to a minus 1/4 inch size and was conveyor stacked on the leach pad. Beginning in January 2002, crushing was terminated and, since then, run-of-mine ore has been placed on pad directly, without crushing. The crushing plant and conveyor system have been sold. However, from April through August 2003, higher grade oxide and sulfide ores from the Goldtooth deposit were crushed by a contractor. Mining ceased at the site in 2004.

Gold is recovered from leach solutions in a carbon adsorption plant and refined into dorй bars on site. At June 30, 2005, recoverable gold remaining in the 23.6 million tons of ore on pad was 2,499 ounces. The Company expects that the Briggs Mine will produce approximately 7,468 ounces of gold during 2005.

Reclamation at Briggs has progressed with completion of offsite reclamation, partial backfilling of the Main Briggs pit, and commencement of re-contouring and capping with growth media of the non-ore rock piles.

[SilberEagle]

MCDONALD GOLD PROJECT (100% CANYON)



The McDonald Gold Project near Lincoln, Montana, in association with the Seven-Up Pete deposit and a third gold occurrence at Keep Cool were discovered and drilled by Canyon`s wholly owned Seven-Up Pete Venture (See McDonald-Seven Up Pete Property Map). Feasibility Studies were completed on the McDonald gold deposit in 1993 and 2003, which showed that the ores were highly amenable to gold recovery utilizing cyanide recovery technology with heap leaching. With this technology, the project was economically feasible at a range of gold price outlooks. This technology was made illegal in the State of Montana in 1998 with the passage of the anti-cyanide ballot initiative I-137 and re-enforced with the defeat of I-147, designed to repeal I-137, on November 2, 2004. This was a first of its kind legislation in the US.

Canyon Resources, the Seven-Up Pete Venture and co-plaintiffs filed suits against the State of Montana in state and federal courts in April 2000 seeking to overturn I-137 or, alternatively, to obtain a "taking" damage award for the value of the Seven-Up Pete Venture properties. By the time the initiative passed, the Seven Up Pete Venture had spent over $70 million drilling, permitting and engineering on its properties, including the McDonald gold project. The passage of this initiative rendered the property worthless as no other gold recovery process technology has been proven to be economically viable for these ores. The Company filed complaints before Montana state courts to recover the taken value of its properties, protect its mining leases and question the legality of the I-137 initiative. On June 8, 2005, the Montana Supreme Court upheld the I-137 initiative and denied that a taking had occurred. The Montana Supreme Court also affirmed cancellation of the Venture`s State mining leases. On July 19, 2005 the Venture filed its motion to reinstate its reserved Federal claim in the US District Court for the District of Montana in Helena, Montana. The District Court has not yet ruled on whether the Federal claims should be reinstated and heard on their merits. On November 4, 2005, the Company`s wholly owned subsidiary, the Seven Up Pete Venture, combined with private plaintiffs, filed a Petition for Writ of Certiorari with the United States Supreme Court, meeting the statutory deadline for filing such petition.

The Montana Supreme court ruling cancelled the Company`s rights to those portions of the McDonald and Keep Cool orebodies covered by state mineral leases. This ruling did not impact the Seven Up Pete deposit since it is located entirely on private lands. The map below shows the three gold deposits of the Seven-Up Pete Venture, which are located approximately six miles east of Lincoln, Montana. State Highway 200 is shown between the Keep Cool and McDonald deposits and the Blackfoot River.

[SilberEagle]

KENDALL MINE (100% CANYON)

http://www.canyonresources.com/projects/projects.php



CR Kendall discovered nine million tons of ore, with an average grade of 0.05 oz/ton gold, containing 450,000 ounces of gold. By using advanced heap-leach technology, whereby cyanide-bearing solutions are applied to the crushed ore on a double-lined impermeable pad, CR Kendall produced 300,000 ounces of gold and 135,000 ounces of silver over the period from 1989 through 1996. The process solutions dissolved the gold and silver from the ore, were contained within double-lined ponds and pipes, and were continuously circulated in a closed system. The gold and silver was recovered from the "pregnant" solution through a zinc precipitation Merrill Crowe plant, and gold/silver dore bars were poured on site and then shipped to an offsite refinery. By using the dedicated leach pads, the crushed and leached ore remains on the lined pads permanently, thereby protecting from any post-mining water movement through the ore and release to the environment.

CR Kendall conducted ongoing reclamation while the Kendall Mine was operating, completing total or partial backfilling of five of the six pits from which ore was extracted. As mine area and non-ore rock facilities were completed, re-contouring, topsoil spreading, and re-vegetation with native grasses, shrubs, and trees took place. More than 200,000 trees and shrubs have been planted in the course of this reclamation. To date, approximately three quarters of the site has been re-vegetated successfully. Mule deer and elk now roam where mining machinery once roared. Reclamation activities are ongoing and water management and treatment facilities have been installed.

[SilberEagle]

REWARD PROJECT NEVADA

http://www.canyonresources.com/projects/reward.php



In January 2005, Canyon acquired the Reward gold property near Beatty, in Nye County, Nevada, through mineral leases with several private owners. The Reward property contains a north-south shear zone and associated veins. Gold mineralization has been encountered over a strike length of more than 2,400 feet and to a depth of 400 feet along the Reward structure. The width of mineralization within the structural zone ranges from a few feet to up to 200 feet. Canyon commissioned Chlumsky, Armbrust and Meyer of Lakewood, Colorado, to remodel the gold deposit using the prior drill and assay results with today`s gold price. This remodeling indicates that the Reward Project contains mineralized gold material of 14.05 million tons at a grade of 0.021 ounces of gold per ton (opt) using a 0.005 opt cutoff grade. This estimate is based on 287 drillholes totaling 100,580 feet. Additional infill and step-out drilling is recommended and open extensions may be present along strike on the main structural trend as well as along fault splays. This project, located approximately 60 miles from the Briggs Mine, is being viewed as a satellite project to Briggs where operational overheads may be shared.

[SilberEagle]

SEVEN-UP PETE GOLD PROJECT (100% CANYON)

http://www.canyonresources.com/projects/sevenup.php



The Seven-Up Pete Gold Project is located near Lincoln, Montana. Gold and silver occur in high grade quartz veins as well as in lower grade zones between the high grade veins. Gold mineralization occurs as free gold as well as sub-microscopic particles associated with pyrite.

The mineralized material on the property has been defined with 159,000 feet of drilling in 378 holes and 8,000 feet of trenching. The Company`s beneficial share of mineralized material in the Seven Up Pete deposit at a cutoff grade of 0.02 ounces of gold per ton (opt) totals 17 million tons at a grade of 0.035 opt gold based on recent third party analysis. Because of the prohibition on the use of cyanide and open pit mining in the State of Montana, Canyon is currently evaluating the development of the Seven-Up Pete Project with a gravity and flotation gold recovery process. A 10 ton bulk sample has been taken from the orebody and RDi labs of Wheat Ridge, Colorado, has been retained to confirm the amenability of this gold mineralization to being recovered through conventional gravity and flotation processes. Initial test results are promising and further optimization studies are underway.

[SilberEagle]

CALIFORNIA

http://www.canyonresources.com/projects/explore.php



The Company holds 3,500 acres of mining claims in the Panamint Range of southeastern California adjacent to the operating Briggs gold mine. Several gold occurrences on this claim block have yielded gold mineralization encountered in multiple drill holes. Canyon plans to systematically explore the entire claim block with the objective of the development of several mines on the Panamint Range Property. This work will be strongly guided by results from the Company`s Goldtooth drilling project in and around the Briggs Mine property.

The primary target in this program will be the development high-grade mineralization that may be amenable to underground mining methods or potentially open pit mineable mineralization, where the geometry of the orebodies would allow backfilling of pits behind actual mining. This last is to comply with regulations promulgated in April 2003 in the State of California which requires the backfilling and site re-contouring of open pit excavations for metallic minerals.



The gold occurrences at the Briggs Mine area and throughout the Panamint Range are strongly controlled by several parallel vertical faults, including the regionally persistent Goldtooth fault, and low-angle gravity slide faults. The vertical faults have acted as the feeder conduits to the disseminated Briggs mineralization and to the mineralization that made its way into the permeable plumbing zones represented by the low-angle faults (at North Briggs and Cecil R). These relationships are shown on the Briggs Reserves and Geology map, the Geology and Gold Occurrences of the Jackson-Cecil R area map, and the Briggs Mine Geologic Cross Section.

When the higher-grade (>0.053 opt) North Briggs deposit was discovered, it was clear that the feeder system for it has not yet been encountered by drilling. Yet the vertical faults which controlled the Briggs and Goldtooth deposits immediately to the south continue to the north just beyond the eastern limit of drilling at North Briggs. Consequently, there is excellent potential for encountering additional mineralization to the east of the North Briggs deposit related to the vertical feeder faults, as shown on the North Briggs Geologic Cross Section. Additional drilling to the east of North Briggs could lead to additional underground mineable opportunities.





In the Jackson-Cecil R area, two miles north of the Briggs Mine, drill access has been constrained to just the immediate area at Cecil R and the southern edge of the Jackson target. Drilling at Cecil R has defined 2.2 million tons of mineralized rock containing 84,000 ounces of gold, with an average grade of 0.038 opt, which occurs along a flat-lying fault. No vertical feeder structure has yet been encountered at Cecil R. To the south at Jackson, several drill holes have encountered high-grade mineralization (50 ft of 0.064 opt, 75 ft of 0.068 opt, 30 ft of 0.116 opt) associated with vertical structures. This structural zone and its splays extend to the north before passing beneath gravel cover. The entire structural zone in outcrop contains anomalous gold mineralization which warrants extensive drill testing. This same structural zone may have been the feeder conduit for the Cecil R deposit 6000 feet to the north. Thus, the Jackson-Cecil R area represents an excellent exploration target with the opportunity for potential development of a mineable gold deposit. These occurrences would likely represent open-pit mineable deposits and are, therefore, constrained from immediate further work by the 2003 laws. With the recent change in governor within California, there may be some hope for changes in the prohibitive mining legislation and rules.

[SilberEagle]

MONTANA

The Company owns approximately 900,000 acres of mineral rights and fee lands in western Montana. The fee mineral rights underlie surface rights owned by other parties. The lands and mineral rights are comprised primarily of lands assembled in the early 1900s by The Anaconda Company for their timber and mineral potential. The lands occur in fourteen counties in the mountainous terrain west of the Continental Divide, with most of the lands being located within 50 miles east and west of Missoula, extending to the Idaho State line, and within sixty miles west of Kalispell in northwestern Montana. The mineral rights and fee lands contain many known occurrences of gold, silver, copper, barite, phosphate, and other mineral commodities. These properties had previously been subject to joint venture between BHP Minerals and Canyon, which was discontinued in 1997. Extensive reconnaissance exploration data on the land positions were produced from this program as well as earlier work by Western Energy Company and The Anaconda Company.

The geology of the northern portion of the 900,000 acres contains meta-sediments belonging to the Proterozoic Belt Basin. These lithologies host stratabound copper-silver deposits, such as Asarco`s Troy Mine near Libby, Montana (65 MT @ 1.7 opt Ag and 0.8% Cu) and lead-zinc deposits such as Cominco`s Sullivan Mine near Sullivan, B.C. The region also has potential to host skarn, stock work, or stratabound gold targets. In addition, a number of industrial mineral deposits of varying types are known to exist on these property positions.



The geology of the southern portion is composed of Proterozoic Belt sediments, Paleozoic carbonates, and Tertiary intrusive and extrusive lithologies. The area contains numerous west northwest trending wrench faults of the Lewis and Clark Line combined with a system of Laramide age thrusts cutting a complete section of Proterozoic-Belt stratigraphy. Numerous small, Cretaceous through Tertiary plugs, stocks, and sills are present. Placer deposits of unknown bedrock origin have been worked along major structural features and suggest the possibility of structurally hosted gold targets. This environment is also prospective for many other deposit types including porphyry copper systems, gold skarns, and sediment hosted gold related to intrusive as well as stratabound deposits of the Troy-type (Cu-Ag) and Sullivan-type (sedex Pb-Zn). The Lewis and Clark line is a structural zone of weakness known to host many of Montana`s precious and base metal deposits. Other exploration models applicable to the region include the McDonald gold property, the Golden Sunlight Mine (+50 Mt @ .05 opt Au), the Coeur d`Alene lead-zinc-silver district, and the Butte porphyry copper deposit.

[SilberEagle]

[SilberEagle]

News - Charts - Kurse:

http://finance.yahoo.com/q?s=Cau

[SilberEagle]

Diese "Clean Water Act" Verletzungsklage, die damals im März 2004 hauptursächlich der Grund für den grossen Preisabfall war, die jetzt jedoch endgültig vom Tisch zu sein scheint, dürfte dem Aktienkurs der Canyon Resource bald wieder verstärkt Auftrieb geben.

Ich denke mir, dass die CAU schneller noch auf über 2.- Dollar steigen wird, als die ersten Blätter im Herbst wieder von den Bäumen fallen werden



Press Release Source: Canyon Resources Corporation


Canyon Resources Announces Dismissal of Clean Water Act Suit

Thursday February 2, 9:25 am ET


GOLDEN, Colo., Feb. 2 /PRNewswire-FirstCall/ --

Canyon Resources Corporation (Amex: CAU - News), a Colorado-based mining company, is pleased to announce the dismissal of a March 2004 lawsuit citing Clean Water Act violations in the case of the Montana Environmental Information Center, Inc. and Earthworks/Mineral Policy Center Inc., the Plaintiffs, vs. Canyon Resources Corporation and C.R. Kendall Corporation. Following a motion to dismiss by the Plaintiffs, the suit was dismissed without prejudice by Judge Charles C. Lovell, Senior United States District Judge for the United States District of Montana, Helena Division.

"We are pleased to see this case formally dismissed. We have always believed that this suit was without merit. Unfortunately, at the end of the day, the only thing that the Plaintiffs accomplished in this suit was to force the Company to spend valuable funds on legal fees to defend itself versus spending those funds on productive activities such as reclamation and closure activities at the Kendall site," states James Hesketh, President & CEO.

FOR FURTHER INFORMATION, CONTACT:

James Hesketh, President and CEO [phone]
Valerie Kimball, Investor Relations [phone]
http://www.canyonresources.com

[SilberEagle]

[SilberEagle]

http://www.montanastandard.com/articles/2006/02/20/newsbutte…

Court mulls mining case

By Matt Gouras, Associated Press Writer - 02/20/2006

HELENA — The U.S. Supreme Court is expected to announce this week whether it will hear a case over Montana’s 1998 ballot initiative that prohibited new cyanide ‘‘heap-leach’’ gold mines.

A Colorado-based mining venture has fought a long legal battle over the ban in the courts, and its claims have already been turned aside by the state Supreme Court.

Canyon Resources Corp. is hoping the Supreme Court will take the case, and ultimately find that the ban constituted an illegal taking of property. The company estimates its loss from roughly $80 million it sunk into the McDonald project near Lincoln to as much as $550 million for the value of the minerals it could have mined.

U.S. Supreme Court justices met Friday to discuss the case and will announce a decision on Tuesday, according to the court’s schedule.

The mine operators say their property rights were denied when the state passed the ban on the use of cyanide in new gold mines. The company needed to use the banned process, which separates precious metals from ore, to profitably mine gold at the proposed Lincoln and should be compensated for the loss.

A favorable decision from the Supreme Court could produce a settlement on its losses, the company said.

The state argues that Montana’s high court has already made a sound decision, and no further review is warranted. Canyon Resources and Seven-Up Pete never had a vested right to mine using the cyanide heapleach process, the Montana Attorney General argued in a brief filed with the U.S. Supreme Court.

The mining venture estimates there is about 9 million ounces of gold and 20 million ounces of silver at to be mined at the Lincoln location, and more than half could be recovered by using cyanide.

The conservation group Montana Environmental Information Center has supported the state in defending the ban, while a conservative legal group called the Mountain States Legal Foundation is supporting the company.

James Hesketh, President & CEO of Canyon Resources Corporation, said the 1998 ban was a big blow to the company, and it has only now started to recover.

‘‘It’s been a huge impact on the company, and hugely destructive to our shareholder wealth,’’ he said.

Hesketh said Montana should be obligated to pay if it wants to decide to ban a process it had made investments on.

‘‘We believe we have a strong case,’’ Hasketh said. ‘‘The trick in the Supreme Court is to get heard.’’

Hesketh said the company still has a case brewing at the District Court level if the Supreme Court rejects its claim.

‘‘We have fiduciary responsibility to our shareholders to recover their losses,’’he said.

[SilberEagle]

Antwort auf Beitrag Nr.: 20.294.247 von SilberEagle am 20.02.06 18:55:33

Habe heute meine Position an Canyon Resources *CAU* aufgelöst und bei Eröffnung in den USA verkauft!

Begründung: Goldproduktion stark rückläufig! Bisher schlechte Explorationsarbeit. Pech mit neuen für CAU negativen gesetzlichen Regelungen. Etc.

Der Erlös aus dem Verkauf der Canyon Resources wurde heute von mir in zusätzliche Samex Mining *SMXMF.OB* http://finance.yahoo.com/q?s=SMXMF.OB zu 58 US Cents investiert!

Gruss

SilberEagle

[TafkaLDS]

äääääääääätsch. ich hab sie noch.

[Buddah]

gab mal wieder ein paar Insider-Käufe:
http://www.sec.gov/Archives/edgar/data/739460/00013489030600…

grüsse B.

[tjcc281086]