Discussion Board for : CNYCF
CNC.V on the TSX-V
Canyon Copper Corp. (OTCBB: CNYC) is a U.S. listed exploration and resource company with an advanced mineral resource property in Nevada. Canyon Copper has assembled a management team with the experience and real-world expertise to move its New York Canyon project forward towards production.
Over 25 Million held by Banks and Insiders, therefore 43, 583,216 Available for Public
As of March 8, 2013, Canyon Copper Corp, has 68,696,934 shares of common stock issued and outstanding.
CNYC, is no longer a valid symbol for Canyon Copper Corp.. As of Fri, May 31, 2013, the new trading symbol is CNYCF.
UPDATE: JOINT VENTURE 01/24/2013
Canyon options up to 70% interest in Moonlight Property to Sandfield
VANCOUVER, Jan. 24, 2013 /PRNewswire/ - Canyon Copper Corp. ("Canyon") (TSX-V: CNC) (OTCBB: CNYC) is pleased to announce that it has entered into an agreement (the "Agreement") with Sandfield Resources Ltd. ("Sandfield") whereby Canyon has agreed to transfer to Sandfield up to a 70% interest in its optioned Moonlight Copper-Porphyry Property. The Moonlight Property is comprised of 307 unpatented claims having an area of approximately 6,300 acres and is located on the northern end of the Walker Lane Belt in Plumas County, California.
Under the terms of the Agreement, Sandfield will earn a 60% interest in the Moonlight Property (the "Initial Interest") upon:
| (a) || paying Canyon $125,000 on TSX Venture Exchange approval of the Agreement; |
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| (b) || issuing Canyon 500,000 common shares on the date Sandfield lists its common shares on the TSX Venture Exchange; |
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| (c) || incurring $100,000 of exploration expenditures on or before May 31, 2013; |
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| (d) || paying Canyon $125,000 and incurring an additional $500,000 of exploration expenditures by the second anniversary of the Agreement; and |
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| (e) || paying Canyon $125,000, issuing Canyon 2,500,000 common shares and incurring an additional $1,000,000 of exploration expenditures by the third anniversary of the Agreement. |
Sandfield will be able to earn an additional 10% interest in the Moonlight Property (the "Secondary Interest") by issuing Canyon 2,500,000 common shares and incurring an additional $3,000,000 of exploration expenditures by the fifth anniversary of the Agreement. Sandfield will also be responsible for all payments and share issuances required by the underlying option and assignment agreements and paying all BLM claim maintenance fees.
If Sandfield exercises the Initial Interest, Canyon and Sandfield will form a joint venture for the purpose of carrying out further exploration and development of the Moonlight Property.
The Agreement is subject to Canyon obtaining approval from the TSX Venture Exchange.
Benjamin Ainsworth, P. Eng, BC, with Licence #8648 and the President of Canyon, is a Qualified Person as defined by NI 43-101 and has reviewed and approved the contents of this news release.
On behalf of the Board of Directors,
CANYON COPPER CORP.
Benjamin Ainsworth, President
Cautionary Statement Regarding Forward Looking Information
This News Release may contain, in addition to historical information, forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are identified by their use of terms and phases such as "believe," "expect," "plan," "anticipate" and similar expressions identifying forward-looking statements. Investors should not rely on forward-looking statements because they are subject to a variety of risks, uncertainties and other factors that could cause actual results to differ materially from Canyon's expectations, and expressly does not undertake any duty to update forward-looking statements. These factors include, but are not limited to the following, Sandfield's ability to satisfy all payments and obligations due under the Agreement, Canyon's ability to implement its proposed drill programs on the New York Canyon Project, Canyon's ability to obtain additional financing, uncertainty of estimates of mineralized material and other factors which may cause the actual results, performance or achievements of Canyon to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Phase I Exploration Program
4 Benefits of this deal: a good opportunity for CNYC shareholders:
1. Brings in cash without having to dilute shareholders by means of a finacing.
2. Work can start immediately on the property which will benefit both companies.
3. Shares in a pre-listed company.
4. Double the exposure anytime their is a PR or Update
Plus: CNC / CNYC still has other properties to develop or J.V.
This shows they are willing to deal and J.V. other properties
Canyon Copper Corp. (TSX.V: CNC , OTCBB: CNYCF) is a resource company with two advanced mineral resource properties in Western USA:
(1)New York Canyon Project (Cu, Mo),
(2) Moonlight Porphyry Copper Project (Cu, Au, Ag).
Canyon Copper has assembled a management team with the experience and real-world expertise to move its projects forward towards production. PROJECTS
New York Canyon is located in Mineral County, Nevada, near the town of Luning. Canyon Copper holds a 100% interest in 664 plus mineral claims.
Moonlight is located around Crescent Mills, Plumas County, California. Canyon Copper has agreed to acquire the former Placer Dome Project, a bulk tonnage porphyry Copper, Gold, Silver Property.
The exploration program will involve the following:
• Re-assaying the 2006 drill program Longshot Ridge drill pulps, duplicate samples, blank samples and standards by an independent ISO 17025 certifiable laboratory to determine proper quality assured copper values for these samples.
• Revise Longshot Ridge resource estimate incorporating the additional information from the re-assayed values of the 2006 drill and systematic road cut samples.
• Apply for permits to drill on and around the Longshot Ridge and adjacent copper oxide targets.
• Apply for permits to drill the Copper Queen and Champion target areas.
• Assess potentials of copper oxide systems similar to the Longshot Ridge at the nearby Power Line and Buffington mine workings.
• Initiate further work on metallurgical testing and environmental base line studies for the Longshot Ridge deposit.
CORPORATE OBJECTIVES OVERVIEW:
· Identify and develop world-class mining properties
· Highly regarded management team will advance the corporate vision
· Aggressive drill program to expand current NI 43-101 Oxide Copper resource
· Develop database for economic scoping study
· TARGET: a 200 million tonne Copper/Molybdenum/Gold Sulphide and become a near term producer = ACCOMPLISHED! MOONLIGHT Porphyry Copper Project Nov 29, 2011
· Establish a project pipeline of other significant Copper deposits
Canyon Copper Corp. is a resource exploration company with a well advanced,
Copper (both Oxide & Sulphide) and Molybdenum project. The Property lies within
the famous Walker Lane Structural Belt of western Nevada, in Mineral County,
Nevada, near the town of Luning. Canyon Copper holds a 100% interest in over
1,300 plus mineral claims representing approximately 27,000 acres.
• The Existing NI 43-101 report indicated Copper Resource is for 140 million lbs
+ 18 million lbs inferred - total 158 million lbs of copper.
• Conoco Oil Company Historic Resource (not 43-101 compliant) =
1.13 billion lbs of copper + 40 million lbs of molybdenum.
• The company engaged MGI Securities Inc. as "Sponsors" for a TSX.V Listing. -COMPLETED - Listed as CNC
Important Facts for many of our investors:
Canyon Copper offers many of the best opportunities that the investor should look for:
-A Proven Resource with a great opportunity to expand and move it towards production
-Positive Capital Structure: (Insiders or closer associates hold approximately 85% of the outstanding shares)
-News Flow… upcoming news
-Aggressive Pre-Development Planned Program
SEC FILINGS : http://www.sec.gov/cgi-bin/browse-edgar?company=aberdene+mines&CIK=&filenum=&State=&SIC=&owner=include&action=getcompany
SPOT COPPER PRICE: http://www.kitcometals.com/charts/copper_historical.html
Corporate web site...
Current Share Structure
The Company approved the Reverse Stock Split in order for its capital structure to conform to the capital structure requirements of the TSX Venture Exchange. Upon completion of the Reverse Stock Split, the Company's authorized capital of common stock will be decreased from 166,666,666 shares, par value $0.00001 per share, to 131,666,666 shares, par value $0.00001 per share, and the issued and outstanding common stock will be reduced from 78,390,307 to 61,928,343 shares. The Reverse Stock Split is expected to be effective on November 24, 2010.
Share Structure confirmed
CNYC A/S=131,666,666 per 10K F1
Issued = 68,696,934
Held by Insiders: ~41%
Options O/S = 3,548,417 ($0.27 (weighted avg.)
Float = ~ 10,000,000 to 40 Million
Warrants: Share Purchase Warrants As at December 31, 2011, the following share purchase warrants were outstanding: 3,234,265
Number of Exercise Warrants Price Expiry Date
1,674,730 Cdn $0.50 November 10, 2012
48,928 Cdn $0.50 December 7, 2012
428,571 Cdn $0.50 January 8, 2013
1,082,036 Cdn $0.50 January 13, 2013
RECENT NEWS RELEASE HEADLNES:
Canyon Copper Corp (CNYC.OB)
1199 West Pender St., Suite 408
Vancouver, BC V6E 2R1
Phone: 604.331.9326 / 888.331.9326
IR: Robert Meister, Phone: 1.888.331.9326 x-231 / 1.604.331.9326 x-231 / firstname.lastname@example.org
A resource exploration company with a well-advanced copper (both Oxide and Sulphide) and Molybdenum project. The Property lies within the famous Walker Lane Structural Belt of western Nevada, in Mineral County, Nevada, near the town of Luning. Canyon Copper holds a 100% interest in over 1,300 plus mineral claims (21 patented claims and 1,332 unpatented claims) representing approximately 27,000 acres.]
Immediate Corporate Objectives:
-- Develop a bulk tonnage Copper and Molybendum property in a 5km x 3 km mineralized belt.
-- Aggressive drill program to expand current NI 43-101 resource.
-- Acquisition of neighboring properties with significant resources.
-- Aim to establish a 2 billion lb. copper / molybdenum/gold resource and become a near-term producer.
MARKET CAP ~ $20,436,240 ($.33)
1. Marketing campaign targeting brokerage houses in Canada.
2. 3-5 drill units on site.
3. Hiring of new geologist for site management.
4. Property reassessment of core samples for value.
Revise Longshot Ridge resource estimate incorporating re-assayed values of 2006 drill & systematic road cut samples.
5. Apply for permit to dril on & around Longshot Ridge & adjacent copper oxide targets.
5. Apply for permits to drill Copper Queen & Champion target areas.
5. Assess potentials of copper oxide systems similar to the Longshot Ridge at the nearby Power Line & Buffington mine workings.
5. Initiate further work on metallurgical testing & environmental base line studies for Longshot Ridge deposit.
5. Pre-feasibility study.
6. Feasibility study.
7. Production (not restricted by season changes).
8. US uplisting to AMEX.
9. Acquisition of neighboring properties w/ significant resources around existing site in near future. * COMPLETED *
http://resourceinvestingnews.com/files/2011/11/Canyon-Copper-Monnlight2.jpg alt="" src="; style="width: 900px; height: 695px;">
____Location of CNYC Project Area in Nevada____________Map of CNYC Claims: 1,353 mineral claims, 27,000+ acres
Identification 3 Primary Mining Zones: 1,353 mineral claims, 27,000+ acres
1. COPPER QUEEN - on the west.
Has no exposed mineralization at surface, but contains Cu sulfide skarn at depth and an incompletely confirmed Cu-molybdenum sulphide porphyry system at greater depth.
2. CHAMPION - in the center.
Numerous widespread exposures of copper skarn mineralization, both in surface outcrop and abundant old mine workings.
Picture of Copper Queen and Champion Mineralized Zones
3. LONGSHOT RIDGE - on the east.
Numerous widespread exposures of copper skarn mineralization, both in surface outcrop and abundant old mine workings.
Majority of recent exploration efforts have been focused on extensive oxide Cu skarn mineralization at this location.
Formation: The Cu mineralization and associated alternation here at Longshot are projects of an extensive Cu-rich skarn system formed in carbonaceous sediments of the Luning, Gabbs and Sunrise Formations. Small amounts of Cu occur also in stockwork veinlets in felsic porphyry intrusive sills and dikes. The Cu mineralization consists almost entirely of secondary copper minerals, principally malachite, axurite, chrysocalla, and copper wad, in order of abundance. Additionally, some Cu-rich limonite (goethite) has been reported.
Deposit centralization: About 90% of the Longshot mineralization is within the 2 upper units of the Gabbs Formation. Drilling reveals that the strongest, thickest, and most continuous mineralization occurs in a NE-trending zone, 200' W x 1300' L, which is crossed by 2 NW-trending structurally-controlled high-grade zones, each about 100' W and from 400-700' L.
3-D Video of Cu Occurrence at Longshot Ridge - IMPRESSIVE -- http://www.canyoncc.com/s/NYCLongshot.asp?ReportID=439242
2004 Drilling Results, Longshot Ridge
-- Completed 2 diamond drill holes on Longshot: Drill hole 04-01 intersected 193' of 0.547% Cu (from 20' - 213') including 50' of 0.827% Cu (from 80' - 130'). This hole ended in strong Cu mineralization.
-- Drill hole 04-03 was a vertical hole drilled to a depth of 43'. While drilling the hole, it was recognized that previousl drill holes in the vicinity had encountered significant mineralization at the contact of the overlying oxidized Gabbs Formation and the underlying Luning Formation, and this hole was extended to test this target. This drill hole (04-03) intersected 370' of 0.314% Cu (from 25' - 395') including 140' of 0.549% Cu (25' - 1.65'.) and 35' of 0.709% Cu (70' - 105').
Picture of Longshot Ridge drilling hole 04-03 and Copper Oxide Cores
Picture of Longshot Ridge
Site Picture - Core Drilling
HISTORICAL NEWS AND FILINGS:
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| || Ben Ainsworth, MA (Oxon), PEng BC. |
President, CEO and Director
Mr.Ainsworth earned an honours degree in geology from Oxford in 1962. In 1965, he joined Placer Development, Vancouver, after working in base metal exploration in Eire and completing service as a Development Geologist with the Ghana Geological Survey. After over 20 years service with Placer in Canadian and international projects, he formed a mineral exploration consultancy in 1987 and continues in that business.
• 1972: Discovery and early development for Placer Development of Howards Pass now being developed by Selwyn Resources as the largest zinc and the largest lead deposits in the world.
• 1991-94: Development of Huckleberry Mine (now a porphyry copper producer) for New Canamin, production started by Princeton Mining in 1997 and still mining.
• 1995: Discovery of the first reported marine alluvial diamonds off Sierra Leone.
• 1994-96: Property selection for Cascadia Metals and Chemicals Corporation of their Mongolian Sharingol (gold), who developed and sold a large gold resource to Cameco-Centerra.
• 2005: Joined Board of Hathor Exploration, acting as V.P. Exploration during the development of the Roughrider uranium deposit -- a Rio Tinto take-over success.
Qualified and registered as a Professional Engineer in British Columbia in 1972, and acts as a "Qualified Person" under the definition used in National Instrument 43 101, and has approved the written disclosure of the New York Canyon Project contained on the Company's Website.
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| || James Yates |
Mr. Yates has over twenty five years experience in the mineral exploration industry and has served as a director and officer of several public mining companies. From 1982 to 1988 he was the Founder, President and Director of Hycroft Resources who successfully brought the Crofoot Mine into production. Mr. Yates has overseen the corporate management and financing of a number of projects in North America including American Bullion Minerals, Zappa Resources, and Jersey Goldfields, having raised in excess of $20 million for mineral exploration development. Mr. Yates is currently a director of ESO Uranium Corp. (TSX-V: ESO), a mineral exploration company focused on uranium exploration, and Nevada Geothermal Power Inc. (TSX-V: NGP), a company engaged in producing geothermal electrical power from geothermal resources in the United States.
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| || Bryan Wilson |
Mr. Wilson has enjoyed a varied career in the fields of mining exploration and development for 18 years and financial services for 12 years. He has filled various roles such as Project Geologist/Manager for Shell Canada, Consultant, Financial Advisor for Scotia McLeod, Mining Analyst for C.M. Oliver and Corporate Finance Specialist for Dominick & Dominick and Thames Capital.
Within the mining industry, Mr. Wilson has acquired broad international exposure to a variety of mineral commodities and has worked throughout the world. In 1981, Shell's East Kemptville Tin Mine with was discovered and developed under his supervision (50.0 million tonnes @ 0.23% Tin).
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| || John Kerr, P.Eng. Geologist |
Mr. Kerr graduated from the University of British Columbia in 1964 with a Bachelor of Applied Science (B.A.Sc) degree in Geological Engineering. He has participated in the mining industry continuously since graduation as an exploration geologist. His expertise is epithermal and sedex-hosted precious metal deposits in the southwest United States, strata controlled gold deposits and porphyry copper/gold/molybdenum deposits of the western Cordillera and VMS deposits in all areas of North America. Successful ventures include recognition and discovery of the Santa Fe gold mine, identification of the Calvada gold mine located on the northern boundary of the New Canyon property, and discovery of the Mindora gold/silver deposit, all located in Nevada. He is also credited with early identification of two VMS deposits at the Rambler Mine in Newfoundland and recognition of the Frasergold strata controlled gold deposit in British Columbia. Mr. Kerr has served as a director of numerous public companies and is currently a Director of Quaterra Resources (NYSE Amex: QMM, TSX.V: QTA) and Bravada Gold Corp (TSX-V:BVA).
During the early exploration of the Santa Fe and Calvada deposits (1973-1979), Mr Kerr familiarized himself with exploration endeavours on the Longshot Ridge copper skarn and the Copper Queen porphyry copper deposits on the New York Canyon property. His knowledge of these deposits will provide invaluable input to ongoing development.
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| || Kurt Bordian |
Chief Financial Officer
Mr. Bordian is a designated Certified General Accountant in Canada, and holds a Bachelor of Commerce (Honours) Degree from the University of Manitoba. He has worked primarily in the mineral and exploration and oil and gas industries over the past 10 years. Mr. Bordian provides accounting and administrative services to private and public companies and is also a director on three other public companies.
CAVEAT: The entirety of the above was compiled by Larimar and contains opinions of this user, and is not to be relied upon. Do your own due diligence.
Canyon Copper Corp. (the "Company") (OTCBB:CNYC) is pleased to announce that a Canadian National Instrument 43-101 report has been completed in which Giroux Consultants Ltd. estimated indicated and inferred resources on the Longshot Ridge copper skarn deposit at the New York Canyon Project. The New York Canyon Project is located in the Santa Fe Mining District, Mineral County, Nevada.
Highlights of the mineral estimate include:
- Indicated resources of 16,250,000 tons at an average grade of 0.43% Cu hosting 139,750,000 pounds of Cu, based on a Cu cut-off grade of 0.20%.
- Inferred resources of 2,900,000 tons at an average grade of 0.31% Cu hosting 18,210,000 pounds of Cu, based on a Cu cut-off grade of 0.20%.
Anthony Harvey, CEO and President of the Company, comments "We are extremely pleased to complete this mineral resource estimate on the Longshot Ridge copper skarn deposit. In order to continue moving forward on the New York Canyon Project, we will focus on upgrading and expanding our resources and re-analyzing samples from our 2006 drill program on Longshot Ridge."
Mineral Resource Estimate
The mineral resource estimate is based on 58 historical drill holes and 38 drill holes completed by the Company during the period from 2004 to 2005. This data was complemented with samples from 34 surface trenches and road cuts obtained from Longshot Ridge by previous exploration operators. The mineral resource estimate did not incorporate a further 33 drill holes (7 HQ diamond drill holes and 26 reverse circular holes) completed by the Company in 2006. The Company's consulting geologists have recommended that the 2006 drilling program be re-assayed prior to being incorporated into a mineral resource estimate.
*Go here and you can look at the N143-101 report
Your own Due Diligence and buying decisions a must!
Old filings on Copper Claims: http://google.brand.edgar-online.com/EFX_dll/EDGARpro.dll?FetchFilingHTML1?ID=4702833&SessionID=Qha3Hv6dLSeAzA7
Moderator's Disclaimer - This board is for (CNYC) discussion purposes only and is in no way a recommendation to buy or sell. Any investment decisions should be based on your own due diligence and decision. You are solely responsible for your choices to buy or sell.
Invest wisely and do your own DD