Canarc Reports Significant Copper Values From Deep Drilling at Benzdorp; Receives Expression of Interest From Major Gold Companies.VANCOUVER, 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 -- Canarc Resource Corp. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :CRCUF) (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension :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 ) announces that the deep drilling program on the Benzdorp property in Suriname has intersected significant copper values within the JQA JQA John Quincy Adams JQA Japanese Quality Association gold porphyry Porphyry, Greek scholar Porphyry (pôr`fĭrē), c.232–c.304, Greek scholar and Neoplatonic philosopher. He studied rhetoric under Cassius Longinus and philosophy under Plotinus. zone of mineralization Mineralization The process by which the body uses minerals to build bone structure. Mentioned in: Rickets mineralization, n the bioprecipitation of an inorganic substance. . Even though copper is leached out of the saprolite sap·ro·lite n. Soft, partially decomposed rock rich in clay and remaining in its original place. saprolite in the top 50 to 100 m at Benzdorp, economically prospective copper grades were intersected over bulk mineable widths in the underlying bedrock, as follows:
Hole (No.) From (m) To (m) Length (m) Copper (%Cu)
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BZ04-42 114.30 156.97 42.67 0.13
260.60 298.71 38.11 0.10
BZ04-43 36.58 45.72 9.14 0.19
57.91 76.20 18.29 0.11
132.59 160.02 27.43 0.19
BZ04-45 79.25 156.43 77.18 0.12
163.93 202.93 39.00 0.11
216.03 315.47 99.44 0.11
BZ04-47 55.06 124.60 69.54 0.16
135.75 269.75 134.00 0.13
BZ04-48 105.66 169.66 64.00 0.11
213.69 250.59 36.90 0.10
BZ04-50 50.29 274.29 224.00 0.10
Including: 50.29 68.58 18.29 0.29
These copper intersections are hosted by quartz stockworks confirming the porphyry nature of gold-copper mineralization at the JQA prospect. JQA displays distinct similarities to the 10 million oz. Boddington porphyry gold-copper deposit (400 million tonnes grading 0.8 gpt gold and 0.12% copper) now being developed by Newmont/Anglogold/Newcrest in western Australia Western Australia, state (1991 pop. 1,409,965), 975,920 sq mi (2,527,633 sq km), Australia, comprising the entire western part of the continent. It is bounded on the N, W, and S by the Indian Ocean. Perth is the capital. . The JQA prospect is just one of twelve gold prospect areas identified by Canarc along the easternmost 10% of the 138,000 hectare Benzdorp property. Every creek draining this +10 km long portion of the Benzdorp gold belt has been mined for gold, indicating that more gold prospect areas are likely to be found in the surrounding hills. Godfrey Walton, M.Sc, P.Geo., is the Qualified Person supervising the Phase 2 drilling program on the Benzdorp property. He has instituted a Quality Control sampling program of blanks and duplicates to monitor the integrity of all assay results. All drill core is split by Canarc personnel at the Benzdorp camp and then flown to the Inspectorate-affiliated commercial laboratory in Paramaribo, Suriname. Core samples are dried, crushed and split, and a 30 gram sub sample is taken for analysis. Gold is determined by fire assay with an atomic absorption (AA) finish. Copper is also measured by AA. Selected samples are sent to Chemex laboratories in Vancouver, BC, as an additional quality assurance check. Over the past few months, Canarc has received expressions of interest from several senior gold companies regarding Benzdorp. The Company intends to assess these expressions of interest with a view to enhancing shareholder value. Canarc also announces that Anthony Low-Beer has resigned as an Advisor to the Board of Directors. Canarc Resource Corp. is a growth-oriented, gold exploration and mining company listed on the TSX (symbol CCM) and the OTC-BB (symbol CRCUF). The Company's principal assets are its 100% interest in the 1.3 million oz New Polaris gold deposit located in northwestern British Columbia and its option on the Benzdorp gold property in Suriname. 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. and Kinross Gold Corp. On Behalf of the Board of Directors CANARC RESOURCE CORP. Bradford J. Cooke, President and C.E.O. To view a map associated with this release please click on the following link: http://www2.cdn-news.com/database/fax/2000/0929ccm.jpg The Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. has neither approved nor disapproved the contents of this news release. |
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