Canarc - Government Approvals Received on Eleven C.O.W.'s in Indonesia; Further C.O.W. Approvals Pending; Changes to Shape and Location of J Block.VANCOUVER Vancouver, city, Canada Vancouver, city (1991 pop. 471,844), SW British Columbia, Canada, on Burrard Inlet of the Strait of Georgia, opposite Vancouver Island and just N of the Wash. border. , British Columbia--(BUSINESS WIRE)--April 3, 1996-- 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 ) is pleased to announce that the company and its joint venture partners have received approvals-in-principle from the Director General of Mines for Indonesia Indonesia (ĭn'dənē`zhə), officially Republic of Indonesia, republic (2005 est. pop. 241,974,000), c.735,000 sq mi (1,903,650 sq km), SE Asia, in the Malay Archipelago. on eleven Contract of Work applications on the island of Kalimantan, Indonesia, as follows: Block Hectares 50 percent JV Partner
B 98,160 100 percent Canarc
C 25,940 Kafus Capital Corp.
D 39,800 Greystar Resources Ltd./
Churchill Resources
E 24,090 NCC Mining Corp.
F 37,070 Dunlap Resources Ltd.
G 213,200 Mount Wright Iron Mines
Company Ltd.
H 229,300 Goldnev Resources Inc.
K 159,400 Mill City Gold Mining Corp.
M 285,800 Greystar Resources Ltd.
N 225,000 Greystar Resources Ltd.
P 252,600 Greystar Resources Ltd.
Further approvals-in-principle are anticipated shortly on Block Q (100 percent Canarc) and Block J (50 percent Mount Wright Iron Mines Company Ltd.). However, through inaccuracies on the government property map, Block J will change significantly in shape and location because of a two year old pre-existing C.O.W. application in the same area. Canarc has other C.O.W. applications in the vicinity of Block J which the Director General of Mines has agreed to include in Block J and to expedite ex·pe·dite tr.v. ex·pe·dit·ed, ex·pe·dit·ing, ex·pe·dites 1. To speed up the progress of; accelerate. 2. his approval-in-principle. Canarc and Mount Wright believe these new C.O.W. areas near Block J have equal or greater geologic ge·ol·o·gy n. pl. ge·ol·o·gies 1. The scientific study of the origin, history, and structure of the earth. 2. The structure of a specific region of the earth's crust. 3. A book on geology. potential to the original Block J area. A revised map will be issued to Canarc by the government at the time of approval. The Seriousness Bonds on Blocks A, I, L and O have been receipted by the Indonesian government and approvals-in-principle are pending. Canarc is seeking joint venture partners to participate in these blocks. 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). -0- ON BEHALF OF THE BOARD OF DIRECTORS CANARC RESOURCE CORP. Bradford J. Cooke President -0- NOTE: Location map available from the company at the phone number listed below. CONTACT: Canarc Resource Corp. Robert Carriere, 604/685-9700 |
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