Cordero Gallium Project
north central Nevada, USA
Overview Gold Canyon Resources Inc. controls a 100% interest in the Cordero Gallium Project through its 100% owned subsidiary Gold Canyon Resources USA Inc. The project covers over 3,800 acres and consists of 268 unpatented lode mining claims acquired by Gold Canyon through lease agreements and direct location. Situated in north central Nevada, the Cordero Gallium Project is North America's largest known primary gallium occurrence. What is Gallium? Gallium (Ga) is a soft, silvery metallic element, with an atomic number of 31 and symbol of Ga. What make gallium so unique and useful are its unusual characteristics. Pure gallium is a solid magnetic metal at room temperature. At 30 degree C it melts, turning to a bright silvery liquid, which begins to boil at 2,403 degrees C (4,357 degrees F) -- the widest liquid range of any known metal. Roughly 95% of gallium is consumed in the manufacturing electronic components such as cell phones, DVD players, photo voltaic cells, integrated circuits and LEDs (light emitting diodes) We are increasingly dependent on Gallium in our daily lives. Most gallium is produced as a byproduct of treating bauxite (aluminum ore) and from zinc-processing residues. The following is the excerpt from Executive Summary of the "NI 43-101 Technical Report and Resource Estimation for the Cordero Gallium Project Humboldt County, Nevada, USA" dated January 2008, which was prepared by rêserva International LLC of Reno, Nevada. "The Mineral Resources were re-estimated by ordinary kriging (OK) within a mineralized envelope, using capped assay values (300 PPM) that were composited into intervals of regular length by bench compositing at a 10' interval. 1,934 new bench composites from an additional 81 reverse circulation (RC) drillholes drilled in 2006 and 2007 were added to the resource sample data, now comprising 4,047 bench composites from 163 RC drillholes in total. The mineralized envelope was interpreted in planview and is based on composites with a nominal spacing of 100 -- 120 ft and a gallium grade > 30 PPM. The classified Mineral Resources for the Cordero project, above a cut-off of 30 PPM gallium, are tabulated below: Cordero Project Mineral Resources above 30 PPM Gallium (Rounded)
Anomalous gallium mineralization occurs over a wide area of the Cordero deposit, but the drill hole spacing is currently insufficient to establish continuity of the mineralization beyond the currently identified mineralized zones. A further program of in-fill exploratory drilling (reverse circulation) is recommended to further delineate and evaluate the deposit, to provide a nominal spacing of 100 feet. There are indications that a number of high grade 'feeder zones' occur through the deposit, and these warrant specific drilling to confirm there occurrence and orientation. This drilling should preferably be with core drilling, and with angled holes. Core drilling would also allow additional metallurgical test work to be conducted, in addition to providing geotechnical data relevant to possible exploitation of the resource. Ongoing exploration work should also include further specific gravity determinations, and geological mapping and interpretation to further delineate possible structural controls. Cordero also hosts significant occurrences of Rare Earth Elements (REE) and further work should be conducted to identify and characterize these zones, for possible inclusion in resource estimation. " | |||||||||||||||||||||||||||||