Reward to feed Briggs

Canyon Resources (CAU-X) could get two years worth of mill feed from the Reward project in Nye Cty., Nev., which improves the chances of restarting the Briggs mine across the border in Inyo Cty., Calif.

A prefeasibility study by Chlumsky, Armbrust & Meyer identified a minable reserve of 2.4 million tonnes grading 1.08 grams gold per tonne at Reward, in a pit with a stripping ratio of 1.7:1. The resource in the pit includes 671,000 tonnes of inferred material running 0.96 gram per tonne.

The consultants recommended further drilling to build up confidence in the inferred resource and a geotechnical study to see whether steeper pit walls would be stable. The pit outline was developed using a 45 slope, but if that slope could be increased, other resources might become economic.

On the assumption that the inferred resources would be converted to reserves, Canyon is looking to produce from Reward at a rate of 1.5 million tonnes annually and leach the ore over five years. Gold would be recovered on carbon collectors and the carbon would go to Briggs for stripping and recovery.

The Briggs mine, mined out in 2004, has been largely inactive since active heap leaching concluded in 2005. Canyon has Reward and two smaller deposits on the California side, Jackson and Cecil R.

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