Monday, June 9, 2014

Canyon Gold Corp. (CGCC) on Course through Exploration and Diversification

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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