Business
Canyon Copper Issues Clarifying News Release
Vancouver, British Columbia--(Newsfile Corp. - June 20, 2014) - Canyon Copper Corp. (TSXV: C...
About this update from Searchlight Resources Inc.
[{"type":"text","content":"\nCanyon Copper Issues Clarifying News ReleaseVancouver, British Columbia--(Newsfile Corp. - June 20, 2014) - Canyon Copper Corp. (TSXV: CNC) (the \n\"Company\") \nAs a result of a review by the British Columbia Securities \nCommission, we are issuing the following news release to clarify our disclosure. \nThe information contained in this news release is intended to provide \nclarification to disclosure on the Company's website (the \"Website\") and \ndisclosure contained in the following investor materials contained on the \nWebsite (the \"Investor Materials\"): (i) a corporate presentation titled \"Highly \nAdvanced Copper Resource Projects in Western USA\" dated March 2012 (the \n\"Corporate Presentation\"), (ii) the Bottom Line Report dated April 5, 2012 (the \n\"Bottom Line Report\"), and (iii) an April 2012 Article by M. Schwartz from \nResource World Magazine (the \"Resource World Magazine\"). \nWe are issuing this news release to clarify the following \ndisclosure: \n1.      Non-Compliant Disclosure on near-term Mine Production of \nOxide Copper at New York Canyon and Moonlight Properties. \nThe Investor Materials improperly disclosed future mine \nproduction of oxide copper at the New York Canyon and Moonlight Properties as \nfollows: \n\n The Resource World Article disclosed: (i) a possible 20 million tons oxide \n deposit can be fast tracked to production at Longshot Ridge on the New York \n Canyon Project, and (ii) a target of a second 20 million ton oxide project \n could be fast tracked to production on the Moonlight Property. The Resource \n World article also provided a fixed average copper grade for both of these \n oxide estimates. \n The Bottom Line Report disclosed that the Company has two potential near \n term production oxide copper projects with the prospect of low cap-ex \n production. It also provides that the Moonlight Property is an almost shovel \n ready low capex project. \nThe Company is retracting the grade and quantities of oxide set \nforth above to the extent that they exceed the following resource estimate on \nthe New York Canyon Project and the historical resource estimate on the \nMoonlight Property: \n\n At Longshot Ridge on the New York Canyon Project, the Company calculated a \n current indicated resource of 16,250,000 tons at an average grade of 0.43% Cu \n and...