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Gold/Mining/Energy : Canadian-under $3.00 Stock-Picking Challenge
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To: J.E.Currie who wrote (3564)9/11/2001 4:39:41 PM
From: Al Collard  Read Replies (1) of 11802
 
J.E., more news from your pick GCU-v:

Gold Canyon retracts statements in June 27

Tue 11 Sept 2001
Mr. Michael Levinson reports

Previously issued news in Stockwatch of the company dated June 27, 2001,
made reference to a calcine pile situated on the surface of claims at its
Cordero gallium project in Nevada, for which sampling had indicated certain
average gallium content and which "resource" was stated as provides the
company with an opportunity to "fast track" potential gallium production
from the property. The company has been advised by the Canadian Venture
Exchange that the disclosure does not meet the requirements of the new
National Instrument 43-101 -- Standards of Disclosure of Mineral Projects
as it was not based on a technical report prepared in accordance with the
National Instrument. The company is retracting the statement on mineral
content and production potential.
The assessment contained in news in Stockwatch of June 27, 2001, is
preliminary in nature and the material referred to is considered too
speculative geologically to have the economic considerations applied to it
that would enable it to be categorized as mineral reserves or resources.
The basis for the preliminary assessment was sampling conducted by Robert
Carrington of Carrington Consultants, a registered professional geologist
who, at the time the samples were collected, was contracted as an
independent consultant to the company.
The company is undertaking the preparation of a technical report in
accordance with the National Instrument on the Cordero gallium project in
Nevada, the results of which will be filed with the CDNX.
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