Vancouver, British Columbia (FSCwire) - Canyon Copper Corp. ("Canyon") (TSX-V: CNC) is pleased to announce that Canyon has acquired a 100% interest in the Cameron Cobalt Project located located in Brigstocke Township approximately 20 kilometers southwest of Cobalt, Ontario and 120 kilometers north of North Bay, Ontario.
The property consists of 4 claim units covering an area of 64 hectares hosting the past exploration pits and a shaft of the Cameron target developed in the 1950’s which is now closed. A grab sample collected in 1987 from the historical Cameron pits and analyzed by the Ontario Geological Survey returned assay values of . (Data Source is file MDI31M05SW00021 from the Ontario Mineral Deposit Inventory).
The project is being acquired from an Ontario prospecting group for a single payment of $10,000 Canadian with no royalty payment.
Stephen Wallace, President and CEO of Canyon stated, “This acquisition is in keeping with the Canyon’s philosophy to continue to seek quality projects in low risk jurisdictions at good value. This is Canyon’s third cobalt project in Ontario along with Munro-Warden and Samuels Lake, all of which will be part of the 2018 exploration program.”
Geologically the Cameron Cobalt property is located within the Cobalt Embayment in the Southern Province of the Canadian Shield where sedimentary rocks lay unconformably overly Archean basement rocks. Both the Huronian sediments and Archean rocks have been intruded by Proterozoic-aged Nipissing diabase occurring as both sills and dykes.
The Cameron property claims covers the contact between the Proterzoic sediments of the Lorrain and Gowganda formation of the Huronian Supergroup and the intrusion of the Nipissing Diabase. The mineralization model for the property is the “Five Element Vein” style of mineralization (Co-Ag-Ni-Bi-As), which is characteristically found with 250m of the diabase contact. This is the characteristic cobalt silver mineralization found throughout the Cobalt, Silver Centre and Gowganda mining camps.
Location Map showing Canyon Copper projects in Ontario
Geological and claim map of Cameron Cobalt Project
Qualified Person
Stephen Wallace, P.Geo., is Canyon's designated Qualified Person within the meaning of National Instrument 43-101 and has reviewed and approved the technical information contained in this news release.
