Copper Canyon Stakes High-Grade Gold Property-Tintina Gold Belt, Yukon Territory
February 16 2010 - 11:00AM
Business Wire
Copper Canyon Resources Ltd. (CPY: TSX-V) has acquired an
unencumbered 100% interest in the Kiwi property located 70 km
northeast of Ross River, in central Yukon. The claims consist of 32
units (668 ha) located 25km west of the North Canol Road which
overlie high-grade gold occurrences associated with intrusive rocks
and north-west trending structures. Past operators reported in-situ
visible gold with analytical values of up to 115 g/t gold and 32
g/t Ag reported from a grab sample at the VG Showing. Copper Canyon
intends to carry out systematic exploration of the property during
the 2010 field season.
Kiwi Property Geology and Mineralization
The oldest rocks exposed on the property are sedimentary rocks
consisting primarily of black shales of the Road River Formation.
These rocks are overlain by volcanic rocks of the mid-Cretaceous
South Fork Volcanic Complex. Both of the above units are intruded
by dykes and sills of intrusive granite.
Visible gold was discovered on the western bank of Kiwi Creek.
The gold occurs within fine white quartz veins in silicified black
shale. Two areas of veining occur near the VG Showing, both at or
proximal to the granite/shale contacts. Quartz stringers and
stock-work veining is common within the VG Showing area but also
occur within the entire 135m exposure along Kiwi Creek. Veining
occurs within both the shale and granite but is more visible in the
granite host rock. Alteration occurs adjacent to veins, at
shale/granite contacts and to a lesser extent, along the major
structures.
Property History
The Kiwi property covers an epithermal gold-silver showing
discovered by Teck Corp. in 1997. A gossan was discovered on the
western bank of Kiwi Creek while conducting regional exploration of
the area. Kiwi Creek is a north-westerly flowing tributary of Kea
Creek which flows northerly into the Riddell River. Subsequent
examination of the gossan revealed the presence of visible gold.
The last recorded work on the property was reported by Teck in 1997
who conducted limited hand trenching and rock geochemical sampling.
No previous work is documented in the area but AGIP conducted
exploration on an epithermal showing 15 km to the south in the
early 1980's.
About Copper Canyon
Copper Canyon Resources was created by way of a Plan of
Arrangement on June 9, 2006. Shareholders of Eagle Plains Resources
Ltd. approved the plan to reorganize the Company’s mineral property
assets in an effort to maximize shareholder value. Under the
terms of the arrangement, three of Eagle Plains’ projects: Copper
Canyon, Severance and Abo (Harrison) Gold, were transferred into
Copper Canyon on a one-for-one share basis.
On behalf of the Board of Directors
Signed
“Tim J. Termuende”President and CEO
Cautionary Note Regarding
Forward-Looking Statements
The TSX Venture Exchange has not
reviewed and does not accept responsibility for the adequacy or
accuracy of this release. This news release may contain
forward-looking statements including but not limited to comments
regarding the timing and content of upcoming work programs,
geological interpretations, receipt of property titles, potential
mineral recovery processes, etc. Forward-looking statements address
future events and conditions and therefore, involve inherent risks
and uncertainties. Actual results may differ materially from those
currently anticipated in such statements.