Canarc Resource - Best Drill Hole Yet Intersects 0.42 oz./ton Gold over 112.2 Feet at New Polaris Property.VANCOUVER, British Columbia--(BUSINESS WIRE)--July 7, 1997-- Canarc Resource Corp(TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). , VSE See DOS/VSE. VSE - Virtual Storage Extended 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 ., OTC Bulletin Board OTC Bulletin Board An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system. CRCUF. ) Canarc Resource Corp. has intersected its best drill hole ever in its underground drill program at the New Polaris property in 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 . Drill hole PT97-44 returned 0.42 oz./ton gold over a 112.2 foot core length including 44.1 feet grading 0.68 oz./ton gold. Approximate true width is 60 feet. Hole PT97-44 is the first infill in·fill n. 1. The use of vacant land and property within a built-up area for further construction or development, especially as part of a neighborhood preservation or limited growth program. 2. hole in the C zone approximately 100 feet below the 600, or lowest mine level, about 550 feet below sea level. The closest previous drill intercept intercept in mathematical terms the points at which a curve cuts the two axes of a graph. in this area returned 0.78 oz./ton gold over 33.2 feet in hole PC90- 03. The hole clearly shows the potential at New Polaris for large, high grade pods within the more regular gold mineralized min·er·al·ize v. min·er·al·ized, min·er·al·iz·ing, min·er·al·iz·es v.tr. 1. To convert to a mineral substance; petrify. 2. To transform a metal into a mineral by oxidation. 3. shear zones. The largest ore stope stope n. An excavation in the form of steps made by the mining of ore from steeply inclined or vertical veins. tr.v. stoped, stop·ing, stopes To remove (ore) from or mine by means of a stope. (317) in mine history produced almost 70,000 tons grading better than 0.5 oz./ton over widths up to 45 feet from one of the Y zones. Management believes that additional, large, high grade pods remain to be discovered by drilling at New Polaris. Significant assay intervals for drill holes PT97-32 to 44 are reported in the attached table. Holes 32 to 42 are infill and stepout holes in the Y zones around the fringes of the previously drilled resource area. Multiple, parallel, mineralized zones are typical in the Y shear system. Drilling will take a short break to allow core assaying, underground mapping and sampling to catch up. Engineering studies and other feasibility work remain ongoing. Canarc engineers are now starting to evaluate the potential for low cost, bulk mining of closely spaced Y zones as a way to optimize profitability and mill throughput in our various mine models. Large, high grade pods like the one intersected in hole 97-44 are also obvious candidates for bulk mining early in mine production in order to accelerate the payback period Payback Period The length of time required to recover the cost of an investment. Calculated as: for capital costs. Canarc Resource Corp. is a growth-oriented, international gold exploration and mining company with active projects worldwide. 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 Echo Bay Mines Ltd. The Company's common shares trade under the symbol "CCM" on the Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. as well as on the following exchanges: Vancouver: Vista-CCM, Frankfurt: Third Market Segment-CAN, Berlin: Over the Counter-CAN, NASD NASD See: National Association of Securities Dealers NASD See National Association of Securities Dealers (NASD). : Electronic Bulletin Board-CRCUF. ON BEHALF OF THE BOARD OF DIRECTORS CANARC RESOURCE CORP. Bradford J. Cooke, President
Hole From To Core Length Gold Grade
(no.) (ft.) (ft.) (ft.) (oz/ton)
PT-97-44 819.8 821.7 1.9 0.867
821.7 825.1 3.4 0.612
843.6 845.7 2.1 0.132
845.7 850.9 5.2 0.205
850.9 855.6 4.7 0.581
855.6 860.2 4.6 0.022
860.2 864.2 4.0 0.463
864.2 869.1 4.9 0.051
869.1 873.6 4.5 0.645
873.6 874.7 1.1 0.038
874.7 879.6 4.9 0.737
879.6 881.4 1.8 0.217
881.4 883.6 2.2 0.007
883.6 887.3 3.7 0.501
887.3 892 4.7 0.841
892 896.8 4.8 0.300
896.8 902 5.2 0.713
902 907 5.0 0.869
907 912 5.0 0.506
912 915.7 3.7 0.590
915.7 919 3.3 0.242
919 922 3.0 0.621
922.2 927.9 5.7 1.264
927.9 932 4.1 0.165
incl.819.8 855.6 17.3 0.45
and 869.1 881.4 12.3 0.57
and 883.6 927.9 44.1 0.68
or 819.8 932.0 112.2 0.42
32 401.6 429.8 28.2 0.14
incl.424.8 429.8 5.0 0.20
697.3 702.3 5.0 0.30
33 2.5 7.5 5.0 0.34
845.9 850.9 5.0 0.26
34 incl.0.0 5.0 5.0 0.33
and 9.6 13.8 4.2 0.49
308.7 313.7 5.0 0.70
35 4.2 10.3 6.1 0.33
417.5 438.0 20.5 0.20
incl.417.5 423.0 5.5 0.54
36 744.3 749.3 5.0 0.21
37 5.0 10.0 5.0 0.18
39 413.8 417.0 3.2 0.39
449.5 454.5 5.0 0.22
475.4 480.4 5.0 0.23
550.6 560.6 10.0 0.34
652.0 657.0 5.0 0.30
43 23.2 31.2 8.0 0.38
529.1 547.5 18.4 0.24
incl.529.1 533.3 4.2 0.52
NOTE: Location maps available from the Company at the phone number listed below. NOTE: If you have an E-Mail address See Internet address. e-mail address - electronic mail address and would prefer to receive Canarc's News through this format, please E-Mail us at 73704.3544@compuserve.com CONTACT: Canarc Resource Corp. Robert Carriere, 604/685-9700 |
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