Spin-off companies from the original explorers of Spin-off companies from the original explorers of the Long Canyon discovery are exploring in the Wood Ridge range north of the CGCC CanyonGold claims, and south of the CanyonGold claims in the Spruce Ridge range. These spin-off companies are tied on or -adjacent to the northern and southern boundaries of the CanyonGold claims.
The southern company is Renaissance Gold Inc. RNT.V which has an exploration agreement with Summit Mining Exploration 11, Inc. which is a US subsidiary of Sumitomo Corporation. A recent press release (06/11/2012) said they have already spent US $ 1.8 million on Spruce Mountain exploration and announced a second round budget US $ 1.7 m in additional expenditures.
Miranda Gold Corp. MAD.V has the East Spruce property which is to the southeast of the CanyonGold property and is just to the east of the RenGold/Sumitomo JV project.
The company to the north is NuLegacy Gold Corp. V.NUG exploring their Wood Ridge South property optioned from Renaissance Gold Inc. RNT.V They completed a series of geochemical and gravity surveys to guide two sets of drilling. NuLegacy's southern boundary is also CanyonGold's northern boundary. To the east of the NuLegacy ground between their ground and the Long Canyon project is Agnico- Eagle.
CGCC CanyonGold is well positioned for success with its claims in an area of ever expanding gold discoveries and the potential for growth through acquisition of further claims in the same area. CanyonGold filed with the SEC for full reporting status and trading on the OTC-Bulletin Board. On November 29, 2012 the company was cleared for trading on the OTC-BB under the symbol ‘CGCC’
CGCC has managed to aquire 30 mineral lease claims and optioned 280 mineral lease claims for a total of 10.3 sections, approximately 6,613 acres, situated on the NE-SW ‘Long Canyon Trend’ on the next range to the west of the Pequop Mountains in the Spruce Ridge area of Nevada. With completion of its phase one exploration and delivery of the Geological Report written in the style of Canadian securities NI 43.101 Technical Report requirements. The findings on the claims as given in the report recommend continuation with the planned Phase Two exploration program.