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Strategies & Market Trends : Ride the Tiger with CD -- Ignore unavailable to you. Want to Upgrade?

To: ogi who wrote (202211)	8/9/2011 11:48:24 AM
From: Veteran98	Read Replies (2) \| Respond to of 312985

GCU.... Canaccord comments....... Gold Canyon Res.* (GCU : TSX-V : $2.25), Net Change: 0.12, % Change: 5.63%, Volume: 187,253 Standing out from the crowd. Shares of Gold Canyon have been bucking the trend of late. Late last week, the junior gold explorer announced that hole SP11-066 intersected 24 m at 17.48 g/t gold (79 feet at 0.510 oz per tonne gold) including 6 m at 52.60 g/t gold at its 100%-controlled Springpole Gold Project, located 110 km northeast of the Red Lake Mining Camp, Ontario. On Monday, shares of Gold Canyon were in the green again after a Bay Street analyst released a bullish report on the company and stated, "These latest high-grade results could add a lot of ounces, very quickly, to the upcoming resource update on the project," adding, "The resource is expected to be released in late Q4/11 or early Q1/12. Management's initial guidance for the resource was in the 2.0- to 2.5-million-oz range. However, after analyzing recent drill results, and having further discussions with management, we expect the upcoming resource to be in the 3.5- to 4.5-million-oz range." Commenting on the company's most recent results, Gold Canyon's Technical Advisor and Director, Dr. Quinton Hennigh, stated, "We are very pleased to confirm high grades at shallow depth in the East Extension Zone. Although East Extension is a smaller target than the Portage Zone, it could potentially make a good starter pit. Holes SP11-066 and -067 demonstrate good continuity of high-grade mineralization along the southwest margin of this deposit. These results coupled with the corridor of near-surface mineralization that we discovered in drilling between the Portage Zone and East Extension last summer suggest we might ultimately be able to connect these two deposits."