Bought CAU the last few days. Lot of reasons but some potential icing on the cake. In the US. Fully permitted mine. Ounces coming off the leach pad. Feasibility study underway pre feas finished. Drill program with pending assays. Uranium JV. With the US Supreme Court and their eminent domain ruling, the bent of the court potentially favoring corporations and mining,I am interested in the hearing CAU has pending at the courts doorstep.
< Canyon Resources Reacquires Briggs Crushing Plant
2005-09-26 11:15 ET - News Release
GOLDEN, Colo., Sept. 26 /PRNewswire-FirstCall/ -- Canyon Resources Corporation (Amex: CAU), a Colorado-based mining company, is pleased to announce that it has signed an agreement to reacquire the Briggs Mine crushing plant and conveyor systems for $50,000 cash, 500,000 shares of Canyon stock and waiver of certain storage fees, for a total purchase price of approximately $440,000. This plant was purchased by Corner Bay Silver Inc. for its subsidiary Minera Corner Bay S.A. de C.V. in May 2002 for $2.6 million in cash plus equity. The 600 ton per hour capacity, three stage crushing plant was never dismantled and remains on its original foundations at the Briggs Mine site.>>
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< Canyon Resources Provides Results of Prefeasibility Study at Its Reward Project
2006-01-12 14:44 ET - News Release
GOLDEN, Colo., Jan. 12 /PRNewswire-FirstCall/ -- Canyon Resources Corporation (Amex: CAU), a Colorado-based mining company is pleased to announce that Chlumsky, Armbrust & Meyer (CAM), a mining engineering consulting firm based in Lakewood, Colorado, has completed a pre-feasibility study for Canyon's Reward Project located near Beatty, Nevada. The study projects strong economic feasibility based on a $425 gold price, $7.6 million in new capital expenditures, transfer of mobile equipment from the Briggs Mine, and contract crushing. At current market prices project economics increase substantially. Cash cost of operation would average $330 per ounce over a five-year project life. No silver byproduct credits were assumed in the analysis, although they may have a positive impact.
"We are very pleased by the results of this study. While Reward is a relatively small project, its economic potential will significantly add to the overall project re-start concept at our Briggs Mine in California. This project, with its relatively close proximity to the Company's Briggs Mine, is viewed as a satellite or incremental project to Briggs, where some components of project overhead, equipment and recovery facilities will be shared.>
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Drilling at Briggs and a close by pit:
<2006-02-01 17:35 ET - News Release
GOLDEN, Colo., Feb. 1 /PRNewswire-FirstCall/ -- Canyon Resources Corporation (Amex: CAU), a Colorado-based mining company, is pleased to provide an update of our activities.
Briggs Project
Project activities at the Company's wholly owned Briggs Mine are focused on developing plans to re-start mining at the site in light of the current strong gold market. The mine retains its operating permits and residual gold production from the heap leach pad is ongoing.
WLR Consulting (WLR) of Lakewood, Colorado, has completed scoping-level engineering analysis and mine design work on potential open pit mining opportunities around the existing Briggs pits and at the Cecil R deposit, a potential satellite pit to Briggs located about five miles to the north. WLR identified potential mining opportunities around the Briggs Main and Briggs South Unit pits using the existing site block model, updated operating costs and historical site gold recovery rates. This analysis developed sufficient mineralized material within designed pits to provide internal justification for continued expenditure on drilling and feasibility studies at the site. Geologic review of these targets shows the potential for open extension of mineralization both along strike and to depth. Additional drilling is required before a final study can be completed. A reverse circulation drilling rig has been mobilized to the site to conduct a 25-hole, 7,600 foot drilling program around the main Briggs pit. The first six holes, totaling 2,975 feet of drilling, have intercepted expected geology and the assays are pending.>>
new.stockwatch.com
Not sure if this is the same drilling as above I have a call in:
< Drilling Commences on Canyon's Goldtooth Exploration Program
2005-11-15 09:00 ET - News Release
GOLDEN, Colo., Nov. 15 /PRNewswire-FirstCall/ -- Canyon Resources Corporation (Amex: CAU), a Colorado-based mining company is pleased to announce that diamond drilling operations are underway on its Goldtooth project at the Briggs Mine in the Panamint Range of Inyo County, California. This program, first announced on August 9, 2005, was delayed due to the critical shortage of drilling rigs and crews in the industry.
W.R. Hansen of Winnemucca, Nevada has contracted to conduct approximately 7,000 feet of diamond drilling on the site. The initial target for this drilling will be a potential high-grade structure underneath the existing Goldtooth pit, where grades in excess of 0.25 ounces per ton of gold were encountered in structures mined to depth in the open pit, indicating the potential for underground mineable extensions. The second target will be to determine the extent of high grade structures associated with underground workings mined by Canyon in the North Briggs area. Channel sampling was conducted before the underground mine closed in 2002, which showed 275 feet of width averaging 0.324 oz/ton gold. No drilling has been conducted beyond the old underground workings. Additional targets are being developed around the existing open pits where remaining gold mineralization of 11.0 million tons at a grade of 0.024 ounces per ton is known to exist.>
new.stockwatch.com
This will be huge if they get a hearing and little downside if they don't IMO:
2006-01-13 07:50 ET - News Release
In the news release, Canyon Resources (Amex: CAU) Provides Update on Status of McDonald Takings Claim, issued earlier today by Canyon Resources Corporation over PR Newswire, we are advised by the company that "Rocky Mountain Law Foundation" should read "Mountain States Legal Foundation" throughout the release.
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Canyon Resources Provides Update on Status of McDonald Takings Claim
GOLDEN, Colo., Jan. 13 /PRNewswire-FirstCall/ -- Canyon Resources Corporation (Amex: CAU), a Colorado-based mining company, reports that on January 9, 2006, the State of Montana filed its brief with the United States Supreme Court in opposition to the Venture's Petition for Writ of Certiorari in the case of Seven Up Pete Venture et al. v The State of Montana, as permitted by Court rules. At the same time, the Rocky Mountain Law Foundation has submitted an amicus curiae, or friend of the court brief, in support of the Venture's Petition. The Rocky Mountain Law Foundation is a non-profit, public interest legal center dedicated to individual liberty, the right to own and use property, limited and ethical government, and the free enterprise system. The State of Montana's brief was supported by an amicus curiae brief submitted by the Montana Environmental Information Center, et al. The Venture now has until January 19th to submit a reply brief to respond to the State of Montana's brief. Once this final brief has been submitted the case will be docketed for conference where the nine Supreme Court Justices confer on whether or not this case has sufficient national or legal significance to be heard by the Supreme Court. A total of four justices must agree to hear a Petition for the case to be heard before the full Court. This process can be expected to be completed prior to the end of February 2006.>>>>>
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