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Canyon Copper Corp (3)
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Close 2018-02-09 C$ 0.07
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Canyon Copper receives Bootleg Lake exploration permit

2018-02-13 10:22 ET - News Release

Mr. Stephen Wallace reports


Canyon Copper Corp. has received a surface exploration permit granted by the Saskatchewan Ministry of the Environment for a diamond drilling program on Canyon's Bootleg Lake project located near Creighton, Sask., five kilometres southwest of the city of Flin Flon, Man.

On Feb. 9, 2018, Canyon Copper was granted a surface exploration permit, which approved the company's plan to drill the Rio and Newcor target areas. In addition, Canyon has obtained all other required permits and has notified required stakeholders.

The company now plans drill mobilization by Feb. 15, 2018. A drilling contract for 1,500 metres to 2,000 metres of NQ diamond drilling has been signed with Minotaur Drilling of Warman, Sask. Minotaur Drilling has experience on the Bootleg Lake property, drilling for New Moon Minerals in 2013.

The drilling is planned to target two high-priority targets on the Bootleg Lake project -- the past-producing Newcor and Rio gold mines. The exploration plan is to test historical data, expand the zones of known mineralization and obtain precise geological information.

At the former Rio mine area, the company plans up to four drill holes targeting the potential at depth extension of the known working. The previous underground work at the Rio mine in the 1980s reached a maximum depth of 120 metres. Canyon's drill plan is to intersect the Rio fault and zone of mineralization at a depth of between 200 metres and 250 metres below surface.

Canyon plans the same targeting at the former Newcor mine area. Past underground work at Newcor in the 1930s and 1940s extended to a depth of 130 metres, and the present plan is to intersect the zone of mineralization at between 225 metres and 275 metres below surface. In addition, the drilling at Newcor will also target the strong airborne magnetic anomaly that parallels the fault zone that runs under the length of Douglas Lake to the west of Newcor. This magnetic anomaly was highlighted in detail by the UAV (unmanned aerial vehicle) AirMag survey completed by Canyon in late 2017. Details of this survey are presented in the Jan. 29, 2018, press release.

Stephen Wallace, president and chief executive officer of Canyon, stated: "The drilling program is aimed at doubling the depth of known mineralization at both Rio and Newcor past-producing mines. Given the historical high gold grades at both targets, the drilling is testing the potential for future underground deposits."

Stephen Wallace, PGeo, is the company's designated qualified person within the meaning of National Instrument 43-101 and has reviewed and approved the technical information contained in this news release.

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