Malawi NI 43-101 - December 2011 - Gold Canyon Resources Inc.

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62 INTRODUCTION(a) Company for which the technical report is prepared.This report concerning exploration for rare earth elements (“REE”) in the Chambe Basin areaof Malawi, East Africa, was made at the request of A. Levinson, President and Director of GoldCanyon Resources Inc (“Gold Canyon”). Gold Canyon is a public Canadian-based mineralexploration company that trades on the Toronto Stock Exchange (TSX Venture Exchange,symbol GCU), is incorporated under the laws of British Columbia, and has a business address atSuite 810, 609 Granville St, Vancouver, BC, Canada, V7Y 1G5. Some details on Gold Canyonand its exploration activities are available on the company’s website www.goldcanyon.ca .Figure 1. Relationships between companies involved in the Malawi REE project
7Relationships between companies involved in the Malawi project are shown in Figure 1.Chambe Basin lies within Exclusive Prospecting Licence EPL 0325/11 (the “Property”) in theMulanje Mountain area of southern Malawi, also referred to as the Mulanje Massif. This licencewas initially granted in March of 2011 to the Japan Oil, Gas and Metals National Corporation(“JOGMEC”). JOGMEC is a semi-governmental corporation of the Japanese Government, withoffice address 2-10-1, Toranomon Minato-ku, Tokyo, 105-0001, Japan. Subject to a then-existingagreement between Gold Canyon and JOGMEC, at the request of JOGMEC and with the assentof Gold Canyon, the Malawi Government agreed to transfer Licence EPL 0325/11 to SpringStone Limited, a limited private company incorporated in Blantyre, Malawi under the Governmentof Malawi Companies Act on 15 th June 2011 with registration number 11406. The office addressof Spring Stone Limited is c/o Sacranie, Gow and Company Legal Practitioners, Realty House,Churchill Road, PO .Box 5133, Limbe, Malawi. Spring Stone Limited, an indirect wholly-ownedsubsidiary of Gold Canyon, was formed to acquire and maintain the Property and other propertiesin Malawi and to facilitate mineral exploration and development in Malawi.Spring Stone Limited is a wholly-owned subsidiary of Spring Stone ExplorationLimited, an indirect wholly-owned subsidiary of Gold Canyon (with the same office address)formed for the purpose of managing the Malawi project and is the operator of a joint venturebetween Gold Canyon and JOGMEC to explore for REE in Malawi. Details of this joint venture arecontained in a Project Venture Agreement (“PVA”) between JOGMEC, Gold Canyon, SpringStone Limited and Spring Stone Exploration Inc. dated September 13, 2011, but effective onNovember 14, the date of transfer by the Malawi Government of EPL 0325/11 from JOGMEC toSpring Stone Limited. Under the PVA JOGMEC has the option to acquire a 67% interest in theMalawi Project and Gold Canyon 33%. Some details of the PVA are contained in a news releaseon September 8 of 2011 by Gold Canyon, which is available on their website. This PVAsupersedes a 2009 joint venture agreement between JOGMEC and Gold Canyon to explore forrare earth resources, initially in the USA and more recently in Malawi, through private USAcompany Gold Canyon Kratz Springs LLC.Exploration on EPL 0325/ 11 will be carried out by Mitsui Mineral DevelopmentEngineering Co. Ltd (“MINDECO” ) a wholly-owned subsidiary of Mitsui Mining and SmeltingCo of Japan under a Technical Service Agreement with Spring Stone Exploration Inc. (Figure 1).
Page 1 and 2: Geological reporton theCHAMBE BASIN
Page 3 and 4: 3List of FigurespageFig 1 Relations
Page 5: 51 SUMMARYProperty Description Cham
Page 9 and 10: 9Figure 3. More detailed map of Mal
Page 11 and 12: 11(b) Purpose of reportAccording to
Page 13 and 14: Figure 8 General geology of the Mul
Page 15 and 16: 154 PROPERTY DESCRIPTION AND LOCATI
Page 17 and 18: 17JOGMEC to Spring Stone Limited by
Page 19 and 20: 19be required, and also a “Licenc
Page 21 and 22: 21(d) Climate, length of operating
Page 23 and 24: 23(c) Significant historical minera
Page 25 and 26: 25The following year, on May 22-23
Page 27 and 28: Table 2 Samples collected by J. Ish
Page 29 and 30: Table 4 REE analyses of 3 leached s
Page 31 and 32: Table 6 REE recovered from leach li
Page 33 and 34: 337D Individual REE composition of
Page 35 and 36: 35(such as apatite or the barium al
Page 37 and 38: 376 U and Th, which are generally a
Page 39 and 40: 9 EXPLORATIONReconnaissance samples
Page 41 and 42: 41(c) Quality control procedures.Th
Page 43 and 44: 43leach gives much lower values (se
Page 45 and 46: TABLE 9 Analyses of REE in 3 Ishika
Page 47 and 48: CHA-4ppm20015010050ISHMINPCL0La Ce
Page 49 and 50: Table 11 Results of leaching REE fr
Page 51 and 52: Table 14 Soils analyzed by Ishikawa
Page 53 and 54: 53Table 14 c REE leached from soil
Page 55 and 56: 4 Nature of soilsTwo samples (E6869
Page 57 and 58:
57Figure 15. Photomicrograph of sam
Page 59 and 60:
Figure 17. Xray diffraction scan of
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61Figure 19. Polished slab 40 mm lo
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63Figure 21 Photomicrograph of syen
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65profiles have well developed lowe
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67transporting material and people
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69boundaries. Pits and trenches wil
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71REFERENCESAnders, E., Grevesse, N
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-lDATE AND SIGNATURE PAGEl, Peter C
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VA11171150 - FinalizedCLIENT : MICG
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ME-MS81 ME-MS81 ME-MS81 ME-MS81 ME-
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5 TOT-ICP06SAMPLE TotalDESCRIPT%E68
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VA11176930 - FinalizedCLIENT : MICG
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77APPENDIX 3XRAY DIFFRACTION SCANSS
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[56.MDI] 56SCAN: 4.0/70.0/0.05/1(se
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Materials Data, Inc.[XRD] Thursday,
Page 101:
Materials Data, Inc.[XRD] Thursday,
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Malawi NI 43-101 - December 2011 - Gold Canyon Resources Inc.

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