Canyon!Jetzt die Wende? - 500 Beiträge pro Seite

[Dersisco]

CANYON RESOURCES ANNOUNCES GOLDTOOTH EXPLORATION PROGRAM Golden, CO—Canyon Resources Corporation (AMEX:CAU), a Colorado-based mining company, is pleased to announce that its Board of Directors has approved a $700,000 budget to conduct an exploratory drilling on expected high-grade gold targets associated with its Briggs Mine in the Panamint Range of Inyo County California. These targets offer the potential for discovery of high-grade, structurally controlled mesothermal gold orebodies adjacent to and below the recently closed open pit operations. Review of exploration drilling from the Briggs Mine indicates the presence of at least two high-grade zones, one in the Goldtooth pit and one at Briggs North, where Canyon conducted an underground mining program to extract high-grade gold ores. A potential gold deposit in this environment could develop as one or more ore shoots along a favorable fault or shear zone. “I am very excited about this program. Briggs was discovered in the late 1980s when exploration was focused on discovering shallow, low grade, oxidized, gold ores that were amenable to open pit mining. There was no focus on the potential for high-grade feeder systems that could be underground mineable. Recent field examination and data review indicates good potential for discovery of high-grade gold mineralization below or adjacent to the Briggs Mine where we have ongoing gold production at a permitted facility. I believe that the best odds of finding a new deposit is always in and around an existing mine. Strong exploration potential exists which can be quickly tested by an aggressive, but straight forward drilling program” states James Hesketh, President & CEO. The major conduit for the gold bearing fluids that formed the orebodies at the Briggs mine is believed to be the Goldtooth Fault. The Company believes that the relationship between this fault and gold mineralization at the Briggs Mine is analogous to faults that control major mesothermal greenstone gold orebodies elsewhere in the world. Examples of earlier drilling results show the potential along the Goldtooth Fault for high-grade gold mineralization as shown below: Top of Drill Hole # Mineralization Interval Average gold grade GT-104 285 feet 55 feet 0.376 ounce per ton PPN-212 125 feet 25 feet 0.372 ounce per ton
PPN-261 85 feet 30 feet 0.306 ounce per ton In 2001 and 2002, Canyon conducted an underground mining operation over a nine month period at the Briggs North orebody using modified room and pillar methods on a near horizontal, but highly mineralized structure. A total of 21,000 ounces were extracted at an average grade of 0.19 ounces per ton of gold indicating the potential for high-grade in this system. The last underground working that was mined across the width of the underground orebody averaged 0.32 ounces per ton of gold over 275 feet in channel sampling. Underground mining proceeded beyond the drilled gold reserve and was terminated as the gold price fell below $275 per ounce. A 5000-foot portion of the Goldtooth Fault adjacent to the Briggs Main and North orebodies has not been drill tested below about 450 feet and the northern 2000 feet has never been drill tested. In the 1990s a geophysical survey consisting of a single IP line crossed the Goldtooth fault west of the main Briggs pit and identified at depth (interpreted to be below 200-300 feet) a significant chargeability anomaly (4 to 5 times background) corresponding to the believed location of the fault. Chargeability infers the presence of significant sulfides, in this case pyrite, which is commonly associated with significant gold values at the Briggs Mine. IP surveys appear to be a highly useful tool to define the fault at depth and determine which areas along its strike might host significant pyrite and possible associated gold mineralization. The approved budget includes additional IP surveys along the Goldtooth Fault. Actual results may differ materially from any forward-looking statement whether expressed or implied in this news release. The following risks and uncertainties which could cause actual results to vary include, but are not limited to speculative nature of mineral exploration, precious metal prices, production and reserve estimates, production costs, cash flows, environmental and governmental regulations, availability of financing, judicial proceedings and force majeure events and other risk factors as described from time to time in the Company’s filings with the Securities and Exchange Commission. Most of these factors are beyond the Company’s ability to control or predict. FOR FURTHER INFORMATION, CONTACT: James Hesketh, President & CEO, [phone] Gary Huber, VP Finance and Corporate Development, [phone] www.canyonresources.com

[Dersisco]

Gestern +10%.Hat die ganze Goldhausse verschlafen.Müßte mind. 100% höher stehen.Go!

[TafkaLDS]

Canyon wird bald veröffentlichen, wie die aus Umweltschutzgründen untersagten Schürfmethoden für die Goldgewinnung aus ihrer mit Gold vollgestopften Mine von Statten gehen wird.. und dann - geht das ding ab wie`n Zäpfchen.

[Dersisco]

[posting]17.553.494 von TafkaLDS am 15.08.05 10:38:53[/posting]Das wär was! Würde das Ding sofort verdoppeln und auf sicht von 1 Jahr nach 5 US$ laufen.Aber auch die anderen Projekte kommen ins laufen.Hier steckt jede Menge Potential drin.Risiken sind längst zu 100% und mehr eingepriced.

Gruß

[Dersisco]

[posting]17.553.494 von TafkaLDS am 15.08.05 10:38:53[/posting]Unlocking the value of the 10.9 million ounce McDonald resource - This will be accomplished by one of two avenues:
Pursuing alternative non-cyanide technologies for gold recovery. A large number of alternative technologies currently exist, some of which have been forwarded to semi-commercial status over the last few years. Emotional misconceptions concerning cyanide use, which we believe is both proven and safe, has become a favorite means to block gold mining projects, necessitating increased R&D expenditures on alternatives by the mining industry. Non-cyanide based gold recovery technologies are being advanced and improved. Your Company is actively reviewing these advancements for application at McDonald.
Actively pursuing the “takings” lawsuit against the State of Montana. The Company’s claim now resides in front of the Montana Supreme Court with no ruling to date. Oral arguments were heard in October 2003.

[Dersisco]

Dear Shareholders:



First, let me state how pleased I am to be with Canyon Resources as your new President. Your Company has a strong Board and a good reputation in the industry. It has survived the ups and downs of the metals cycles over 25 years, has a solid, if somewhat hidden asset base, cash reserves, a good listing and a loyal shareholder following. My mission with Canyon is to build upon this strong base laid under the leadership of Dick De Voto and to further enhance shareholder value by unlocking the value of existing assets within the Company, while also pursuing the acquisitions of new projects. The forward looking strategy for your Company has three components:
Growth through acquisitions – Your Company’s goal is to have at least two operating sites in the future. This plan is highlighted by the Company’s recently announced option to acquire the Hycroft Gold Mine in Nevada. This potential acquisition provides the opportunity to acquire a mine that is fully permitted, has all required infrastructure, metallurgical plants, and a drilled 566,500 ounce gold reserve with substantial opportunity to increase those reserves through infill drilling inside the pit shell and exploration drilling on Hycroft’s large land position. Should we decide to exercise the purchase option, our plan would be to generate new gold production at Hycroft by early next year, subject to availability of mining equipment and personnel, which are currently in short supply in our industry. Your Company is currently seeking and reviewing other opportunities of this type throughout the industry.


Growth through development of existing assets within the Company - These assets include the Reward project near Beatty, Nevada and the Seven-Up Pete orebody in Montana, as well as substantial mineral rights and land positions in Montana and California. Your Company has 25 years worth of precious metals and uranium exploration history and records.
The Reward gold project was drilled and evaluated by Barrick Gold as a satellite ore source for their now closed Bullfrog Mine in Nevada and by Rayrock as a satellite ore source for their Daisy mine. A substantial body of work has been performed on this project including drilling and both mill and heap leach metallurgical testwork. We have initiated engineering review of Reward as a stand alone heap leach operation.
A feasibility study of the Seven-Up Pete gold vein system in Montana, one of the Seven-Up Pete Venture deposits, was conducted by Phelps Dodge Corporation in 1991 using cyanide mill technology. Since the electorate in Montana has spoken clearly against the use of cyanide recovery in open pit mining operations through their I-137 initiative and through the defeat of the I-147 initiative, we must analyze Seven-Up Pete without the benefit of this industry standard technology. Limited historic mining was conducted at Seven-Up Pete where gold recovery was achieved by gravity concentration. Metallurgical testwork performed in the 1990’s indicate that the ores may be amenable to concentration through conventional gravity and flotation technologies. This deposit has been extensively drilled on 100 foot centers and doesn’t require an expensive drilling program. Engineering studies have commenced to assess this possible means for developing the Seven-Up Pete resource.
Canyon owns 900,000 acres of mineral rights in north-western Montana with similar geologic conditions to several nearby copper/silver deposits (Troy, Rock Creek, Montanore) and epithermal and porphyry gold/copper/molybdenum deposits (Butte, Montana Tunnels, McDonald). Canyon will seek to develop joint ventures with exploration companies on these properties in 2005.
Canyon holds several gold targets and discoveries near the Briggs Mine on our Panamint claim block in California. The Jackson and Cecil R gold deposits were discovered in our earlier drilling and additional potential remains along the Goldtooth fault adjacent to the cluster of gold deposits that the Company mined at the Briggs Mine. Canyon will seek a joint venture partner to further exploration of these targets in 2005.
Canyon owns 1.2 million shares (about 10%) of Gold Resources Corporation, a private company, as a result of financing exploration on the El Aguila property in Oaxaca, Mexico, where early resource estimates indicate gold and silver deposits with substantial remaining potential.
Early in Canyon’s history, the Company’s exploration activities led to the discovery of several miles of uranium mineral roll fronts on a property in Wyoming. The Company is pursuing re-acquisition of the mining rights to these properties.



Unlocking the value of the 10.9 million ounce McDonald resource - This will be accomplished by one of two avenues:
Pursuing alternative non-cyanide technologies for gold recovery. A large number of alternative technologies currently exist, some of which have been forwarded to semi-commercial status over the last few years. Emotional misconceptions concerning cyanide use, which we believe is both proven and safe, has become a favorite means to block gold mining projects, necessitating increased R&D expenditures on alternatives by the mining industry. Non-cyanide based gold recovery technologies are being advanced and improved. Your Company is actively reviewing these advancements for application at McDonald.
Actively pursuing the “takings” lawsuit against the State of Montana. The Company’s claim now resides in front of the Montana Supreme Court with no ruling to date. Oral arguments were heard in October 2003.



Besides being well positioned for growth, your Company is proving its worth as a good corporate citizen. The Briggs Mine in California is in the final stages of its life. While gold recovery is still ongoing, mining ceased in early 2004 and reclamation activities have been ongoing with the re-contouring of dumps, placement of topsoil and re-seeding. These activities will continue until the site is fully reclaimed. The current high level of desert rainfall is helping this effort with a large bloom of vegetation. At CR Kendall, Canyon has expended over $10 million toward completing reclamation with $1.9 million spent in 2004. Final closure of this property continues to be delayed as the State of Montana performs an environmental impact statement to determine final closure methodologies. I strongly endorse a policy of pursuing pragmatic environmental consciousness and good corporate citizenship in any community where we work and we will aggressively pursue final closure of this property in a manner that is both environmentally friendly and sustainable over the long term.

Your Company is entering a growth phase which is justified by a strong gold market outlook and the need to develop a strong cash flow base for the Company to insure its long-term outlook. The future for Canyon looks strong with a potential near term production opportunity and a pipeline of development projects to follow as well a large land position for future exploration and development. Further upside is provided by the potential unlocking of the value at McDonald. I am excited about being with your Company and look forward to working together with you over the years to come.

My Best Regards To You All,

[Dersisco]

Endlich gehts los! Gestern mit +17% auf 0,84 ausgebrochen.Da gibts noch ein schönes gap bei 1,25 Euro zu schließen.Das ist das nächste Kursziel.
Gruß