Canarc Resource - Gold Zones at Ianna Property - Phase 1 Drilling Intersects Multiple Mineralized Gold Zones at Ianna Property, Guyana.VANCOUVER, B.C.--(BUSINESS WIRE)--SEPTEMBER 8, 1995--Canarc Resource Corp. (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 .TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). ) has intersected several 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. gold zones in the Phase 1 drilling program recently completed at the Ianna property in northwestern Guyana, 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. . A total of 2247 m. of drilling was completed in 17 diamond drill holes testing five bulk tonnage gold targets to depths of 150 m. Significant results are as follow: -0-
Zone Hole From To Intersected Gold
(m.) (m.) (m.) Width (m.) Grade
(gpt)
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Sweetheart IA95-01 97.0 122.0 25.0 1.30
Anomaly incl 97.0 106.0 9.0 2.25
IA95-02 120.0 127.0 10.0 1.77
IA95-03 47.0 52.0 5.0 1.40
(hole stopped short of target depth)
IA95-04 25.3 30.0 4.7 1.50
(hole stopped short of target depth)
IA95-05 1.0 12.0 11.0 1.12
(hole stopped short of target depth)
IA95-17 14.0 15.0 1.0 52.80
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Meadowhalf IA95-06 27.0 48.0 21.0 1.77
Anomaly incl 27.0 34.0 7.0 4.28
IA95-07 0.0 27.0 27.0 0.88
154.0 161.0 7.0 1.36
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Stonehill IA95-08 15.0 39.0 24.0 1.25
Anomaly
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C. Anomaly IA95-10 60.0 63.0 3.0 2.86
IA95-11 0.00 119.0 119.0 0.62
incl 11.0 28.0 17.0 1.03
and 64.0 73.0 9.0 1.65
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X. Anomaly IA95-12 124.0 127.0 3.0 2.95
IA95-13 35.0 93.0 58.0 0.82
incl 35.0 50.0 15.0 1.84
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Ten of the 17 holes intersected gold 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. exceeding a grade (gpt) x width (m) factor of 10. Each of the five bulk tonnage targets remains open-ended along strike for further drilling. Mineralization occurs as both shear zone hosted, gold-bearing quartz veins and more disseminated, stockwork-related gold zones not dissimilar to the 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. style of mineralization at the Omai mine in Guyana. All 17 drill holes intersected many other narrow gold-mineralized shears and veins of subeconomic grades or widths, suggesting the presence of a strong hydrothermally altered and mineralized system throughout the Ianna stock and surrounding rock formations. A sixth high priority bulk tonnage target, the Yakishuru Anomaly, remains yet to be drilled. Significant, new, soil geochemical gold anomalies were discovered by continued reconnaissance soil sampling grid in the southeast corner of the property (up to 9.71 gpt gold) and in the Pipiani Hills area towards the northwest (up to 0.81 gpt). A Phase 2 program of geophysical surveys, deep augering and diamond drilling Diamond Drilling is a highly specialized industry used for mineral exploration around the world. Most commonly using wireline and core bits with diamond encrusted matrix. To drill holes to max depths of twelve thousand feet, for the recovery of core used in verifying mineral has been proposed to further test the high priority gold targets. Work is anticipated to recommence Re`com`mence´ v. i. 1. To commence or begin again. 2. To begin anew to be; to act again as. He seems desirous enough of recommencing courtier. - Johnson. v. t. 1. To commence again or anew. shortly. Canarc holds an option to earn up to a 65 per cent interest in Ianna from Roraima Gold Corp. by carrying out certain exploration expenditures over a four year period. Canarc has expended ex·pend tr.v. ex·pend·ed, ex·pend·ing, ex·pends 1. To lay out; spend: expending tax revenues on government operations. See Synonyms at spend. 2. US$1.33 million to date on Ianna. Canarc Resource Corp. is a growth-oriented international gold exploration and mining company with active projects in North, Central and South America. 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 per cent) and Echo Bay Mines Ltd.(10 per cent). ON BEHALF OF THE BOARD OF DIRECTORS CANARC RESOURCE CORP. Bradford J. Cooke President NOTE: Location map available from the Company at the phone number listed above. CONTACT: Robert Carriere Investor Relations Investor relations The process by which the corporation communicates with its investors. (604) 685-9700 or 1-800-460-0535 |
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