• 97.7 kilometres of airborne UAV magnetic survey completed
• High resolution survey at 10 metre and 25 metre line spacing
• Survey highlights two planned high priority drill targets
Vancouver, British Columbia, January 29, 2018 - Canyon Copper Corp. ("Canyon") (TSX-V: CNC) is pleased to present the results of an airborne UAV magnetic survey on the Company’s Bootleg Lake project located near Creighton, Saskatchewan, Canada, five kilometres southwest of the city of Flin Flon, Manitoba.
During the 4th quarter of 2017, Canyon commissioned Aerial Imaging Resources Inc. (AIR) of Flin Flon, Manitoba to conduct a UAV aeromagnetic survey targeting two priority areas on the Bootleg Lake project. The survey covered a total of 97.7 line kilometres, of which 72.4 line kilometres were at 25 metre line spacing and 25.3 line kilometres of 10 metre line spacing.
The magnetic surveys covered two high priority targets on the Bootleg Lake project, the past producing Newcor and Rio gold mines, to provide additional data for planned 2018 drilling on both targets. The survey of the Rio mine area highlights the known mine area and the related faults systems. The area over the mine was covered by the 10-metre line spacing to acquire detailed data being used to plan the proposed drilling. In the Newcor area, the survey shows distinct magnetic anomalies related to the Newcor Mine area. This level of detail was not available from past surveys.
In addition to highlighting the two known mine areas in greater detail both surveys produced secondary targets. The Newcor survey shows a magnetic high zone that parallels the fault zone that runs through Douglas Lake, west of the Newcor mine. Plans are being made to target this anomaly as part of the upcoming Newcor drilling. The Rio area survey shows magnetic anomalies southwest of the Rio mine which are interpreted to represent an intersection of fault zones. Additional work is planned to determine if these anomalies will be part of a future drilling programs.
Stephen Wallace, President and CEO of Canyon stated, “Canyon is pleased with the quality, detail and new information provided by the AIR survey. The UAV program provided a quick, effective and low impact method to get high resolution data for drilling targets and the Company plans to utilize this technology in the future.”
2018 Drill Program
Canyon is continuing to work with the Government of Saskatchewan to finalize permits for the planned drilling at the Newcor and Rio targets. In addition, logistics and drill hole planning is underway to allow a prompt start to drilling as soon as all permits are in place.
Advanced Airborne Drone Magnetometer Survey
AIR utilized the low flying Procyon 800E Unmanned Aerial Vehicle (UAV), which is a helicopter style UAV slinging a potassium magnetic sensor underneath. A GPS guided autopilot coupled with ground elevation data allowed it to fly accurate survey lines 30 metres above the terrain.
With the implementation of a UAV the survey can be lower, slower and more detailed than conventional airborne surveys and in contrast to traditional ground surveys, the survey lines can be close spaced with high density sampling distances without the need for line cutting. It is now possible to resolve magnetic anomalies that were previously indistinguishable when surveyed using conventional ground and airborne surveys. These UAV magnetic surveys deliver higher quality magnetic data at a lower cost with a reduced environmental footprint.
Stephen Wallace, PGeo, is the Company's designated Company'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.
On behalf of the Board of Directors,
CANYON COPPER CORP.
Stephen Wallace, President, CEO and Director
Canyon Copper Corp.
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, Canyon's ability to implement its proposed drill programs on the Bootleg 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.
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