Canyon Resources (ASX: CAY) has identified potential for volcanogenic massive sulphide (VMS) style mineralisation from initial surface geochemical sampling and auger drilling results at the Taparko North Project in Burkina Faso, West Africa.
Reconnaissance rock chip values include:
- 0.96% copper (Cu), 0.83g/t gold (Au), 22.9g/t silver (Ag), 0.79% lead (Pb), 0.76% zinc (Zn);
- 0.85% Cu, 0.87g/t Au, 20.5g/t Ag, 0.71% Pb, 0.67% Zn; and
- 0.84% Cu, 0.46g/t Au, 19.9g/t Ag, 0.69% Pb, 0.68% Zn.
Canyon commenced this exploration program in late 2010 and two auger rigs are continuing to drill at the Taparko North Project.
Initial auger soil results returned peak values of 0.33% Cu and 0.2% Zn identifying coherent anomalies along a 2.6km corridor which remains open along strike.
When combined with the previously announced strong gold results from rock chips in the same area, Canyon would be encouraged by the potential of its Taparko North Project to host significant gold and base metal resources.
Phillip Gallagher, managing director, said “the multi-element results from the CS2 prospect on the Taparko North Project, and in particular the copper results, are an exciting and unexpected development for Canyon."
The project is situated in the Yalogo greenstone belt which hosts the two million ounce Taparko gold mine and the 1.7 million ounce Inata gold mine.
Recent non-gold discoveries by other explorers in Burkina Faso in similar Birimian geological sequences, such as Blackthorn Resources (ASX: BTR) and AusQuest (ASX: AQD), demonstrate the potential of the permits.
Prior to Canyon’s acquisition of the Taparko North, Tigou and Tyekobo permits no significant exploration had been undertaken within the region. The potential for Canyon’s permits to host gold mineralisation had already been identified through the existence of several artisanal gold workings on the company’s tenements.
Canyon plans to undertake a geophysical survey as soon as possible to explore for sulphide mineralisation. Geophysical anomalies from either an electromagnetic (EM) survey or an Induced Polarisation (IP) survey when combined with the existing geochemical data would greatly enhance Canyon’s targeting for future drilling campaigns.