ONTARIO – Gold Canyon Resources of Vancouver has cut long and strong mineralized intersections – 283 metres at 1.83 g/t Au and 121 metres at 2.03 g/t Au – at its Springpole gold project 110 km northeast of Red Lake. Hole SP11-065 intersected 283 metres at 1.83 g/t Au including 99.6 metres at 3.57 g/t. Hole SP12-108 intersected 121 metres at 2.03 g/t Au including 41 metres at 4.01 g/t.
The company says results from this year’s drilling demonstrates good continuity at the project. A revised resource estimate is expected later this year.
Gold Canyon characterizes the Springpole mineralization as an alkaline intrusion hosting a gold system that represents a potentially new style of Canadian Archean Shield gold deposit. The Portage zone is hosted by a trachytic porphyry intrusion displaying polyphase autolithic breccias that host gold mineralization. Other zones, including the East Extension and Main, consist of high grade veins and pods hosted in diatreme breccias composed of intrusive and country rock fragments.
A detailed table of the most recent drill results is available at GoldCanyon.ca in the news release dated March 13, 2012.