Briggs gold project of Canyon Resources benefits from passage of California Desert Protection Act.GOLDEN, Colo.--(BUSINESS WIRE)--Nov. 1, 1994--Canyon Resources Corp. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :CYNR), a Colorado-based mining company, Tuesday commented on the effects of the recent passage and enactment of the California Desert Protection Act on its 636,000-ounce Briggs gold project in the Panamint Range Panamint Range (păn`əmĭnt), rugged fault-block mountains, SE Calif., near the Nev. line. Telescope Peak (11,045 ft/3,367 m high) is the tallest peak. The range forms the western boundary of Death Valley; to the west of the range is Panamint Valley. of southeastern California. Passage of this bill is positive for Canyon because it restores to public access areas which were previously restricted as Wilderness Study Areas A wilderness study area (WSA) contains undeveloped United States federal land retaining its primeval character and influence, without permanent improvements or human habitation, and managed to preserve its natural conditions. (WSAs), thereby 1) removing nearby physical boundary constraints to the proposed Briggs gold mine and 2) allowing ready access to several gold-mineralized exploration areas throughout Canyon's 19,000-acre claim block on the west slope of the Panamint Range. "Canyon Resources' Briggs gold mine project and other gold exploration targets in the Panamint Range have been favorably fa·vor·a·ble adj. 1. Advantageous; helpful: favorable winds. 2. Encouraging; propitious: a favorable diagnosis. 3. impacted by the enactment of the California Desert Protection Act. The removal of the nearby WSAs allows implementation of the environmentally superior and economically preferable layout of the Briggs mine facilities. In addition, Canyon's exploration targets in the Panamint Range, some of which have previous drillholes which encountered gold mineralization Mineralization The process by which the body uses minerals to build bone structure. Mentioned in: Rickets mineralization, n the bioprecipitation of an inorganic substance. , become available, for the first time, for further exploration evaluation," said Richard H. De Voto De Vo·to , Bernard Augustine 1897-1955. American historian and critic noted for his studies of the impact of the West on the American mind. , president. A Draft Environmental Impact Statement/Report (EIS/EIR) for the Briggs project was issued on Sept. 12, 1994. Limited comments were made regarding the EIS/EIR at public hearings held in Ridgecrest and Independence, Calif., on Oct. 11-12, 1994. The public comment period closes on Nov. 21, 1994, and the regulatory agencies regulatory agency Independent government commission charged by the legislature with setting and enforcing standards for specific industries in the private sector. The concept was invented by the U.S. will then prepare a Final EIS/EIR upon which the Briggs project is scheduled to receive its operating permits. Upon completion of permitting, the company expects to be able to start construction of the Briggs gold mine in the first half of 1995. The Briggs Mine, owned 100% by Canyon, is projected to produce gold at a rate of 75,000 ounces per year. Canyon produces gold and silver from the Kendall Mine in Montana and industrial mineral products from a mine/plant complex in Nevada. In addition to the Briggs project, the company is also developing the 8.2-million-ounce McDonald gold deposit in Montana. CONTACT: Canyon Resources Corp., Golden Cheryl A. Martin, 303/278-8464 |
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