Gold Canyon Resources Inc V.GCU

Confirm Distribution of High Grade Gallium

[MRS]

all good news this far, now where do we go from here? https://www.stockhouse.com/news/news.asp?newsid=850948 Check Assays Confirm Distribution of High Grade Gallium 7/24/01 GOLD CANYON RESOURCES INC. ("GCU-V") - Check Assays Confirm Distribution of High Grade Gallium Gold Canyon Resources Inc. (the "Company") is pleased to announce the final results of its check assays received from Chemex Labratories. The final results received from Chemex Labratories in Vancouver confirm the presence and distribution of high grade gallium on Gold Canyon's Cordero Gallium project at McDermitt, Nevada. Sample results are very encouraging with excellent correlation between the Inspectorate Rocky Mountain and ALS-Chemex analysis. Chemex's results are generally lower in the highest grade samples and up to 30 times higher in low grade samples, with the net result that gallium mineralization, as indicated by Chemex sample analysis, is much more wide spread than indicated by the previously reported Inspectorate / Rocky Mountain results. Of particular interest, a more extensive analytical package for a greater number of elements yielded suprising and very encouraging results for additional rare and highly priced metals of potential interest. The following table summarizes the metals of most apparent interest, the maximum content reported, and the price as reported by the United States Geological Survey for 1998, the most recent year for which uniform price information has been compiled and reported by the USGS. Element Symbol Maximum $ (US) per $(US) kilogram content per gram (1998) (1998) Chemex Cerium Ce 749 $0.35 $350.00 Cesium Cs 68.1 $63.30 $63,300.00 Dysprosium Dy 18.7 $0.50 $500.00 Europium Eu 10.5 $6.50 $6,500.00 Gadolinium Gd 39.3 $.40 $400.00 Germainium Ge 14.25 $.85 $850.00 Hafnium Hf 21 $0.19 $187.39 Lanthanum La 254 $0.35 $350.00 Lithium Li 124.5 $0.09 $86.66 Niobium Nb 99.0 $0.01 $6.00 Neodymium Nd 393 $0.45 $450.00 Parseodymium Pr 100.5 $0.54 $540.00 Rubidium Rb 300 $79.70 $79,700.00 Samarium Sm 62.5 $0.30 $300.00 Thallium Tl 236 $1.16 $1,160.00 Vanadium V 460 $0.01 10.95 Yttrium Y 87.8 $0.20 $200.00 Ytterbium Yt 10.2 $1.60 $1,600.00 Zirconium Z 2300 $0.02 $23.15 *Note: 1ppm = 1 gram per metric ton, 1 metric ton = 1000 kilograms = 2200 pounds (US) The above metal contents are the highest values reported for the samples analyzed to date and do not represent an economic average or indication as to the average content of the potential deposit, but merely suggest significant potential to produce additional valuable commodities as co-products from the Cordero property. Clearly not all of the above elements will be economically recoverable and it is not certain that any of the elements will be amenable to a particular metallurgical process. For those unfamiliar with Gold Canyon, additional information can be found on the Company's website: https://www.gcu-vse.com. GOLD CANYON RESOURCES INC. GOLD CANYON RESOURCES (USA) INC. "MICHAEL LEVINSON" 'ROBERT CARRINGTON" Michael Levinson Robert Carrington Chairman of the Board, President President & Director TEL: [phone] GOLD CANYON RESOURCES INC. FAX: [phone] ______________________________________ ___________________________________________________________________ (c) Market News Publishing Inc. Tel:[phone] All rights reserved. Fax:[phone] MarketbyFax(tm) - To get the NEWS as it happens, call [phone]. © 2000 StockHouse.com | Disclaimer