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Gold Canyon Intersects 262 Meters at 1.42 Grams per Tonne Gold and 2 Meters at 134.35 Grams per Tonne Gold at its Springpole Gold Project
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VANCOUVER, BRITISH COLUMBIA--(June 5, 2012) - Gold Canyon Resources Inc. (TSX VENTURE:GCU)(PINKSHEETS:GDCRF) ("Gold Canyon" or "the Company") is pleased to announce additional drill results from its 100% controlled Springpole Gold Project, located 110 kilometers northeast of the Red Lake Mining Camp, Ontario, Canada. Diamond drill hole SP12-134 intersected 262 meters at 1.42 grams per tonne gold (859 feet at 0.041 oz per ton gold). This hole is situated on the 0+050 meter section and is a 50-meter step-back from previously announced drill hole SP12-128 (319 meters at 1.02 grams per tonne gold announced in a news release dated May 24, 2012).
To view the Plan Map, please visit the following link:
Diamond drill hole SP12-136, testing areas under the Main Zone, encountered 8 meters at 34.19 grams per tonne gold (26 feet at 0.998 oz per ton gold) including 2 meters at 134.35 grams per tonne gold (7 feet at 3.923 oz per ton gold). A second diamond drill hole from under the Main Zone, SP12-137, located 50 meters northeast of SP12-136, intersected 2 meters at 33.10 grams per tonne gold (7 feet at 0.967 oz per ton gold).
"Solid results keep coming from Springpole," comments Dr. Quinton Hennigh, technical advisor to, and director of, Gold Canyon. "We are very pleased to receive consistent, strong gold intercepts from the southeast part of the Portage Zone where we continue to see lots of room for growth. High-grade results from under the Main Zone are both encouraging and intriguing. Although the geometry of this mineralization is not fully understood, these are some of the highest grade intercepts seen on the property and may prove to be an important part of this very large gold system."
Diamond drill hole SP12-134 was drilled on the 0+050 meter section line at an azimuth of 220 degrees true north and an inclination of -45 degrees. This hole is a 50-meter step-back from previously announced drill hole SP12-128 and tested deeper parts of the Portage Zone intersecting 262 meters at 1.42 grams per tonne gold (859 feet at 0.041 oz per ton gold). This hole deflected upward as it was being drilled and terminated above the end of hole SP12-128. A higher grade core, 24 meters at 4.95 grams per tonne gold (79 feet at 0.145 oz per ton gold), was intersected in hole SP12-134, something not encountered in hole SP12-128.
Diamond drill hole SP12-131 was drilled on the 0+150 meter section line at an azimuth of 220 degrees true north and an inclination of -45 degrees. This hole encountered 244.7 meters at 0.80 grams per tonne gold (803 feet at 0.023 oz per ton gold) across deeper parts of the Portage Zone. This intercept represents a true width of approximately 173 meters.
Diamond drill hole SP12-133 was drilled on the 0+600 meter section line at an azimuth of 220 degrees true north and an inclination of -45 degrees. This hole was collared near the East Extension Zone and encountered numerous short intercepts of gold mineralization (see table below) making up the Bridge Zone, a diffuse, near-surface zone of mineralization situated between the Portage and East Extension zones. At depth, this hole encountered 68 meters at 0.96 grams per tonne gold (223 feet at 0.028 oz per ton gold) across deep parts of the Portage Zone.
Six diamond drill holes, SP12-130, SP12-132, SP12-135, SP12-136, SP12-137 and SP12-138, tested deeper parts of the Main Zone. All of these were drilled at an azimuth of 220 degrees true north and an inclination of -45 degrees and are situated on the 0+850 meter through 0+1,100 meter sections (see attached map). Each hole encountered one or more intervals of gold mineralization (see second table below). Of particular note, hole SP12-136 encountered 8 meters at 34.19 grams per tonne gold (26 feet at 0.998 oz per ton gold) including 2 meters at 134.35 grams per tonne gold (7 feet at 3.923 oz per ton gold). Fifty meters further northeast, a second diamond drill hole, SP12-137, intersected 2 meters at 33.10 grams per tonne gold (7 feet at 0.967 oz per ton gold). Although further drilling is needed to adequately evaluate these high-grade intercepts and their geometry, they may represent a high-grade root, or feeder, to the Main Zone.
Summary of Drill Results from the Portage Zone; Holes SP12-131, SP12-133 and SP12-134
Hole
From
(meters)
To
(meters)
Length
(meters)
Gold (grams
per tonne)
Length
(feet)
Gold (oz per
ton)
SP12-131
41.0
49.0
8.0
0.47
26
0.014
�
301.3
546.0
244.7
0.80
803
0.023
includes
475.0
489.0
14.0
2.57
46
0.075
�
579.0
609.0
30.0
0.70
98
0.020
�
�
�
�
�
�
�
SP12-133
5.0
18.0
13.0
0.56
43
0.016
�
56.0
75.4
19.4
0.50
64
0.015
�
99.0
103.0
4.0
0.81
13
0.024
�
109.0
115.0
6.0
1.29
20
0.038
�
135.0
141.0
6.0
0.86
20
0.025
�
163.0
171.0
8.0
0.45
26
0.013
�
189.0
193.0
4.0
0.70
13
0.020
�
203.0
207.0
4.0
0.67
13
0.020
�
227.0
235.0
8.0
0.48
26
0.014
�
406.0
474.0
68.0
0.96
223
0.028
�
�
�
�
�
�
�
SP12-134
204.1
210.0
5.9
1.60
19
0.047
�
290.7
296.0
5.3
0.72
17
0.021
�
339.0
601.0
262.0
1.42
859
0.041
includes
397.0
421.0
24.0
4.95
79
0.145
includes
412.0
421.0
9.0
8.49
30
0.248
includes
454.0
469.0
15.0
2.03
49
0.059
includes
532.0
541.0
9.0
2.80
30
0.082
�
Summary of Drill Results from the Main Zone; Holes SP12-130, SP12-132, SP12-135, SP12-136, SP12-137 and SP12-138
Hole
From
(meters)
To
(meters)
Length
(meters)
Gold (grams
per tonne)
Length
(feet)
Gold (oz per
ton)
SP12-130
272.0
276.0
4.0
0.84
13
0.025
�
292.0
294.0
2.0
3.53
7
0.103
�
367.0
418.0
51.0
0.73
167
0.021
�
491.0
493.0
2.0
2.61
7
0.076
�
515.2
544.0
28.8
0.56
94
0.016
�
�
�
�
�
�
�
SP12-132
120.0
128.0
8.0
0.51
26
0.015
�
�
�
�
�
�
�
SP12-135
23.0
53.0
30.0
0.51
98
0.015
�
63.3
77.0
13.7
0.77
45
0.022
�
118.7
128.7
10.0
0.81
33
0.024
�
182.4
188.0
5.6
0.94
18
0.027
�
216.0
220.0
4.0
6.79
13
0.198
�
�
�
�
�
�
�
SP12-136
76.0
80.0
4.0
0.97
13
0.028
�
190.0
194.0
4.0
1.10
13
0.032
�
220.0
228.0
8.0
34.19
26
0.998
includes
224.0
226.0
2.0
134.35
7
3.923
�
�
�
�
�
�
�
SP12-137
151.0
155.0
4.0
1.46
13
0.043
�
215.0
219.0
4.0
1.01
13
0.029
�
233.0
241.0
8.0
2.96
26
0.086
�
263.0
275.0
12.0
5.74
39
0.168
includes
263.0
265.0
2.0
33.10
7
0.967
�
�
�
�
�
�
�
SP12-138
109.0
113.0
4.0
3.23
13
0.094
�
227.0
233.0
