CANARC RESOURCE - DEEP DRILLING INTERSECTS TWO GOLD ZONES AT POLARIS TAKU PROPERTY, BC.VANCOUVER, BC--(BUSINESS WIRE)--AUG. 8, 1995--CANARC RESOURCE CORP. (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :CCM CCM Contemporary Christian Music CCM Critical Care Medicine CCM County College of Morris (New Jersey) CCM Chama Cha Mapinduzi (political party, Tanzania) CCM CORBA Component Model ) Canarc Resource Corp. (CCM.TSE) has intersected two high grade gold zones in the first hole of the 1995 deep drilling program on the C vein at the Polaris Taku property, northwestern British Columbia British Columbia, province (2001 pop. 3,907,738), 366,255 sq mi (948,600 sq km), including 6,976 sq mi (18,068 sq km) of water surface, W Canada. Geography . Hole 95-C40 was targeted to hit the downward extension of the C vein at a vertical depth of approximately 1800 feet deep about 900 deeper than previously intersected. However, the hole deviated 30 degrees and did not intersect In a relational database, to match two files and produce a third file with records that are common in both. For example, intersecting an American file and a programmer file would yield American programmers. the C vein until approximately 2400 feet deep, significantly deeper than anticipated. The drill hole also intersected a new "Y-type" vein at around 1625 feet in depth. The vein represents a blind discovery and offers an entirely new zone to explore. Assay results are as follows: -0-
Hole From To Intersected Gold
(No.) (ft.) (ft.) Width (ft.) Grade
(oz/ton)
95-C40 1620.10 1634.50 14.4 0.31
including 1620.10 1624.20 4.1 0.64
2387.75 2412.20 24.5 0.36
including 2391.50 2395.70 4.2 0.48
and 2402.20 2412.20 10.0 0.47
This deep C vein intersection is significant in that it more than doubles the known depth extent of the C vein. True widths are estimated to be 60 percent of core lengths. Although it is premature to estimate the reserve potential at depth, significant new resources may be outlined with further drilling. The gold grade in DDH DDH Decision Diffie-Hellman DDH Developmental Dysplasia of Hip DDH Dorothy Day House DDH Document Drafting Handbook DDH Dublin Dental Hospital DDH Destroyer-Carrying Helicopter DDH Dissociated Double Hypertropia 95-C40 is about average for the C vein and since the hole deviated several hundred feet west from the original high grade target area, further drilling may intersect increased grades at this level. Drill hole 95-C41 is now underway to test the C vein at the 2400 foot level some 300 feet further to the east. A third hole is expected to test the same level some 300 feet west of hole 95-C40. Polaris Taku was a high grade, underground gold mine that produced 231,000 oz gold in the past. Canarc has drilled 109 drill holes in recent years to establish a 1.1 million ounce gold resource, open in several directions for expansion. The Polaris Taku property is 100 percent owned by Canarc, subject to a 15 percent net profit interest held by Rembrandt Gold Mines Ltd. Canarc Resource Corp. is a growth-oriented international gold exploration and mining company with active projects in North, Central and South America South America, fourth largest continent (1991 est. pop. 299,150,000), c.6,880,000 sq mi (17,819,000 sq km), the southern of the two continents of the Western Hemisphere. . Major shareholders include Barrick Gold Barrick Gold Corporation TSX: ABX NYSE: ABX is the largest pure gold mining company in the world, with its headquarters in Toronto, Ontario, Canada; and four regional business units (RBU's) located in Australia, Africa, North America and South America. Corp. (4 percent) and Echo Bay Mines Ltd.(10 percent). ON BEHALF OF THE BOARD OF DIRECTORS CANARC RESOURCE CORP. Bradford J. Cooke President CONTACT: Robert Carriere Investor Relations Investor relations The process by which the corporation communicates with its investors. Phone: 604/685-9700 NOTE: Location map available from the Company at the phone number listed above. REPEATS: New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of 212-575-8822 or 800-221-2462; Boston 617-330-5311 or 80 |
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