Canyon Copper Announces Drill Results from Bootleg Lake Project
TSXV: CNC
Suite 408 – 1199 West Pender Street • Vancouver, B.C. • V6E 2R1
TEL (604) 331-9326 • FAX (604) 684-9365
Canyon Copper Announces Drill Results
from Bootleg Lake Project
5.24 g/t gold over 4.0 metres including 12.24 g/t Au over 0.50 metre
2.09 g/t gold over 19.0 metres including 3.23 g/t Au over 8.0 metres
2.45 g/t gold over 5.0 metres including 3.84 g/t Au over 2.0 metres
Vancouver, British Columbia, May 14, 2018 , - Canyon Copper Corp. ("Canyon" or the
“Company”) (TSX-V: CNC) is pleased to announce the drill results of the first two diamond
drill holes completed on Canyon’s Bootleg Lake project , located near Creighton,
Saskatchewan, Canada, five kilometres southwest of the city of Flin Flon, Manitoba.
Drill holes BL -01 and BL -02 are the first two holes of the 1,446 metre, 4 diamond drill hole
program completed on the Bootleg property during February and March 2018. These drill
holes targeted the past producing Rio Gold Mine which is characterized as Mesothermal gold
mineralization along the Rio Fault corridor, particularly in close proximity to the granodioritic
Phantom Lake pluton immediately to the sou th. The drilling targeted the intersection of two
sections of the NE -SW trending Rio fault corridor and the N -S trending Douglas Lake fault.
The detailed results are below
Drill Hole Zones From To Width Au g/t
Number
metre metre metre
DDH BL-01 Zone 1 180.0 184.0 4.0 5.24
including 181.0 184.0 3.0 6.55
including 181.0 181.5 0.5 12.24
DDH BL-01 Zone 2 213.0 232.0 19.0 2.09
including 216.0 224.0 8.0 3.23
including 223.0 224.0 1.0 7.65
DDH BL-02 Zone 1 222.0 227.0 5.0 2.45
including 223.0 227.0 4.0 2.94
including 223.0 225.0 2.0 3.84
Note: All widths reported are drill intersected core lengths and do not represent true widths
Stephen Wallace, President and CEO commented , “This is Canyon Copper’s first drill
program at the Rio Mine . The results show good grades over mineable widths and the first
step to determining a new mine. In addition, a wealth of technical data has been collected
relating to the complex geological structures and intrusions that are part of the deposit.”
Drill hole BL -01 was drilled at a 45 -degree dip with a total length of 327 m. This drill hole
intersected two zones of gold mineralization. Zone1 is 4.0 m from 180 .0m to 184 .0m
downhole grading 5.24 g/t Au, including a high er-grade section from 181.0 m to 181.5 m
grading 12.24 g/t Au. A second wider zone of 19.0 m from 213 .0m to 232 .0m downhole
graded 2.09 g/t Au including an 8.0m section from 216.0 m to 224.0m grading 3.23 g/t Au.
The zones of mineralization are characterized as a brecciated rhyolite with 1% to 10% pyrite.
BL-02 was drilled from the same drill setup as BL-01, at 60 degrees dip with a total depth of
369m. There is evidence of faulting throughout most of this drill hole, plus granodiorite zones
not seen in the first drill hole. This is a significant change from BL-01 given the proximately of
the two drill holes. There is information from past work of granodiorite bodies within the Rio
Mine and this appears to be related to this drill hole.
A five metre zone of mineralization, whi ch appears to be related to Zone 1 in BL -01 is found
between 222.0m to 227.0m downhole grading 2.45 g/t Au. Within this zone there is a 2.0m
section grading 3.84 g/t Au.
Cross section showing BL-01 and BL-02
Based on these results t he company plans a dditional drill core studies to understand
geological structures and granodiorite intrusions logged in the drill holes including detailed
structural directional analysis and down hole surveys. Additional surface exploration,
trenching, mapping and geophysi cs based on past data and drill hole information will be
planned for summer 2018 . The information f rom this drilling program and surface work will
form the basis for future drilling.
Location of drill holes and traces related to 2017 UAV Magnetic Survey
Background on Drilling Program
February 2018, Canyon was granted a Surface Exploration Permit by the Saskatchewan
Ministry of the Environment , and in the second half of February began drilling at the Rio and
Newcor target areas. This drill program was completed in March 2018 with 4 NQ diamond
drill holes completed , totaling 1,446 metres . Three drill holes were completed at the Rio
(Bootleg) target and one at the Newcor target.
The exploration plan was to drill two high priority targets on the Bootleg Lake project, the past
producing Newcor and Rio gold mines. The exploration strategy is to test historical data,
expand the zones of known mineralization and obtain precise geological and structural
information. At both targets the plan was to test potential at depth extension of the known
working which had reached a maximum depth of 120 to 130 metres during mining in the
1940’s and 1980’s.
At the past producing Rio mine site, three diamond drill holes totaling 993m were completed
from two drill sites. The drill holes were planned to intersect the Rio fault and zone of
mineralization at a depth of between 175m and 250m below surface. At Newcor a single drill
hole of 453m was completed as the program was modified due to ice conditions. The change
in program resulted in a single longer drill hole.
Drill logging and sampling is complete, and all samples are now at T SL Laboratories. Below
is an outline of the sampling, QA/QC and analytical procedures.
Quality Assurance and Quality Control (“QA/QC”) Program
The Company has implemented a quality control program to ensure best practices in
sampling and analysis of the core samples. The core is first logged then sawn in half during
the sampling process with the half being retained for verification and reference pur poses.
During sample collection and assaying, there is an established QC procedure using
standards, duplicates and blanks. The samples are then securely shipped to the TSL
Laboratories (“TSL”) facility in Saskatoon, Saskatchewan, Canada.
Sample Analysis
At TSL in Saskatoon the samples will be crushed and pulverized in preparation for analysis.
The samples will be analysed for gold using fire assay with AA finish. All samples with over 3
g/t gold will undergo secondary analysis fire assay -gravimetric finish. In addition, all samples
will be analysed using the TSL multi -element package ICP-AES Aqua Regis for 29 additional
elements. Select elements will be reanalysed if over the ICP package limits. The coarse
rejects and pulps are kept in Saskatoon for re -assaying purposes and then returned to the
Company’s storage site where they will be stored for long term verification and reference.
Anthony Spooner , P.Geo, supervised the drill program, sampling, QA/QC program and
logged all the drill holes in the explorati on program and is a designated Qualified Person
within the meaning of National Instrument 43 -101. Stephen Wallace, P .Geo, is the
Company's Qualified Person within the meaning of National Instrument 43 -101 and has
reviewed and approved the technical information contained in this news release.
Canyon is also pleased to announce the Company will be exhibiting at the International
Mining Investment Conference taking place May 15 -16 in Vancouver at the Vancouver
Convention Centre East.
On behalf of the Board of Directors,
“Stephen Wallace”
CANYON COPPER CORP.
Stephen Wallace, President, CEO and Director
Contact: Canyon Copper Corp.
Investor Relations
(604) 331-9326
Cautionary Statement Regarding Forward Looking Information
This News Release may contain, in addition to historical information, forward -looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and section 21E of the Securities Exchange Act of 1934 , as amended. These forward -looking
statements are identified by their use of terms and phases such as “believe,” “expect,” “plan,” “anticipate” and similar expr essions identifying
forward-looking statements. Investors should not rely on forward -looking st atements because they are subject to a variety of risks,
uncertainties and other factors that could cause actual results to differ materially from Canyon's expectations, and expressl y does not
undertake any duty to update forward -looking statements. These factors include, but are not limited to the following, Canyon's ability to
implement its proposed drill programs on the Bootleg Project, Canyon’s ability to obtain additional financing, uncertainty of estimates of
mineralized material and other factors which may cause the actual results, performance or achievements of Canyon to be materially different
from any future results, performance or achievements expressed or implied by such forward-looking statements.
Cautionary Note to U.S. Investors Regarding Estimates of Measured, Indicated and Inferred Resources
This News Release may use the terms “measured”, “indicated” and “inferred” “resources.” We advise U.S. investors that while these terms
are recognized and required by Canadian regulations, the SEC does not recognize them. “Inferred resources” have a great amount of
uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. It cannot be assumed th at all or any part of
an “inferred mineral resource” will ever be upgraded to a higher category. Under Canadian rules, estates of “inferred mineral resources”
may not form the basis of a feasibility study or prefeasibility studies, except in rare cases. The SEC normally only permits issuers to report
mineralization that does not constitute “reserves” as in -place tonnage and grade, without reference to unit measures. U.S. investors are
cautioned not to assume that any part or all of a measured, indicated or inferred resource exists or is economically or legal ly
mineable.
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