Canyon Gold Corp., a
US public company with executive offices in Las Vegas, Nevada, is focused on
gold exploration. It owns 30 mineral lease claims and has optioned 280 mineral
lease claims for a total of approximately 6,613 acres. The area is positioned
on the northeast to southwest ‘Long Canyon Trend’ on the range directly west of
the Pequop Mountains in the Spruce Ridge area of Nevada – an area experiencing
extensive new discoveries of gold.
Canyon Gold plans to
explore its claims for a large tonnage Carlin-type of gold deposit. The
Carlin–type deposits have come to be known as some of the largest hydrothermal
gold deposits in the world. The invisible nature of the gold in the deposit
makes it difficult to find deposits of that kind. The class of deposit was
defined after the Carlin mine became a mass producer of gold in the 1960s. It
was recognized that other deposits of that type should exist. Most of the mines
in the Great Basin in the United States belong to the Carlin type. Carlin type
deposits have also been found in China and Macedonia.
In a strategic move
aimed at diversification to increase shareholder value, the company announced
last month the acquisition of 100% of the issued and outstanding shares of
Marshall Thomsen Ltd., a British Columbia corporation entering the cannabis
industry as a producer of cannabis products for distribution to the medical
community, thereby becoming part of a promising future world trend.
“Joining the Team of
Canyon Gold provides the opportunity to build and operate a superior production
center for cannabis with a view to a very bright future for the Company and
value to its shareholders,” commented Tom Thomsen, President of the newly
acquired subsidiary.
A newcomer to the
mineral exploration field, Canyon Gold has assembled an experienced management
team supported by qualified professionals on its Board of Advisors. The company
plans to continue to seek out experienced professionals to join its Board and Advisory
Committee.
Canyon Gold is
poised for success with its claims in an area of expanding gold discoveries and
the potential for growth through acquisition of further claims in the same
areas. Going forward, CGCC continues to seek funding for its Gold Subsidiary to
implement its planned Phase Two exploration program on its mineral claims in
Elko County of Nevada.
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