Gold Canyon kicks off Cordero drilling

Vancouver– Gold Canyon Resources (GCU-V) is gearing up for the next phase of drilling on the Cordero gallium property in Nevada.

All necessary permits have been issued by the Bureau of Land Management, and the company intends to kick-off step-out and definition drilling in early July. Initially Cordero has budgeted 10,000 ft. of reverse circulation drilling, with a subsequent program of roughly 20,000 ft. planned once funding is in place.

The drilling campaign will be designed to advance known mineralization at Cordero into a reserve and resource categories. Cordero hopes to move the project to feasibility by the fourth quarter.

The Cordero property consists of 17 whole and fractional unpatented mining claims, which cover the northeast trending, mineralized “M” fault zone. This zone measures 1,700-by-135 meters and remains open along strike. The property lies on the southeastern margin of a saucer-shaped volcanic vent known as the Cordero Cauldera Complex. Numerous past producing mercury mines and prospects are situated along the periphery of the cauldera.

Last year’s drill results defined two parallel mineralized zones which exhibit continuity along strike as well as down dip. These zones dip gently to the west and southwest and are hosted in rhyolitic to andesitic volcanic rocks. Gold Canyon reports that grades are highest within the hanging wall of the M-Fault zone, however, significant intercepts occur well into the footwall.

Conceptually Gold Canyon wants to develop a large scale, surface, bulk mineable target which would produce gallium as a primary product