Cyon Exploration Identifying Promising Drilling Locations for Black Rock Canyon Property
Vancouver, November 5, 2020 - Cyon Exploration Ltd. (previously True Grit Resources Ltd.) (the "Company") (TSXV:CYON) (OTC:CYNXF) has compiled and is analyzing historical data for the property with the objective of selecting the best sites for deep drilling. With only shallow drilling completed on the property historically, the topography suggests that the Cortez gold trend dips to a deeper depth and drilling to over 1,100 feet is needed. The Black Rock Canyon property is located just 16 kilometers north and 22 kilometers northwest of Nevada Gold Mine's Pipeline gold mine, and Goldrush & Fourmile gold deposits respectively. Nevada Gold Mines is the single largest gold-producing complex in the world producing over 45 million ounces to date and a joint venture between Barrick [NYSE: GOLD] and Newmont Corporation [NYSE: NEW]. The Pipeline, Cortez and Goldrush-Fourmile deposits are portions of the 16 kilometer-wide Cortez gold trend which is projected to have over 50 million ounces still undiscovered. This review and subsequent identification of mining sites includes mapping done in the late 1990s and commercially available aeromagnetic data flown at 200-meter line spacing over the entire property. Historical drill results indicate significant gold anomalies are present at shallow depths and indications are that deeper drilling may find similar geologic formations as other major discoveries nearby.
Per: "Byron Coulthard"
Byron Coulthard
President & CEO
Tel: 1.604.657.7004
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