* Says to evaluate deposits jointly with Japan's JOGMEC
* Shares soar as much as 50 pct
Sept 15 Canadian minerals explorer Gold Canyon
Resources Inc GCU.V said it plans to evaluate rare earth
prospects in Finland and Norway, jointly with Japan Oil, Gas
and Metals National Corp (JOGMEC), sending its shares soaring
50 percent to a 16-month high.
The evaluation would be conducted under Gold Canyon's joint
exploration agreement with Japan's state-affiliated JOGMEC
signed earlier this year.
"The Scandinavian Peninsula hosts numerous iron oxide
copper gold deposits and is, in fact, the location where a
number of the rare earth elements and their natural minerals
were first identified or discovered," Gold Canyon said in a
Deposits which will be evaluated include the Koldal mine,
Tellenes mine, and Bidjovagge mine in Norway, and the Raajarvi
mine in Finland, the company said.
Shares of Vancouver, British Columbia-based Gold Canyon
surged 50 percent to 33 Canadian cents Tuesday on the Toronto
(Reporting by Ashutosh Joshi in Bangalore; Editing by Deepak