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Canyon Resources Ltd

Canyon Resources Ltd (ASX:CAY) agreed to a farm-in transaction to acquire up to 75% of the Birsok Bauxite Project in Cameroon.


Canyon Resources hits the gold exploration trail in Burkina Faso

Tuesday, May 14, 2013 by Proactive Investors

Canyon Resources hits the gold exploration trail in Burkina Faso

Canyon Resources' (ASX: CAY) Konkolikan project in Burkina Faso, West Africa, is strategically located along strike from high grade multi-million ounce gold deposits, with the company now set to kick off an exploration program.

The project is a single permit covering around 100 square kilometres, with regional magnetics indicating the continuation of a major mineralised structure that hosts some of the highest grade resources in the country.

Konkolikan is in the same regional mineralised structure that hosts Endeavour Mining's (ASX: EVR) Houndé project with an Indicated Resource of 1,456,000 ounces at 1.91g/t gold and an Inferred Resource of 752,000 ounces at 1.91g/t gold.

Also in the structure i sRox Gold Inc.’s Yaramoko project with an Indicated Resource of 679,000 ounces at 15.7g/t gold and an Inferred Resource of 216,000 ounces at 8.9g/t gold.

Canyon's exploration will include aeromagnetic surveys, with the company also conducting detailed regolith mapping and soil & rock chip sampling programs as first pass technique.

Adding to the prospectivity of the project there is active artisanal mining on the project.


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