Canarc Resource - Phase 2 Drill Program Commences on Ianna Property, Guyana.VANCOUVER, B.C.--(BUSINESS WIRE)--Nov. 9, 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). ) announces that a Phase 2 drill program has commenced on the Ianna property in Guyana. Drilling is now underway on the Yakishuru prospect, where Phase 1 exploration work identified a high priority gold soil anomaly 600m. long by 250m. wide, marked by peak gold soil assays up to 4.8 gpt. The Yakishuru prospect is underlain un·der·lain v. Past participle of underlie. by a diorite diorite Medium- to coarse-grained igneous rock that commonly is composed of about two-thirds plagioclase feldspar and one-third dark-coloured minerals, such as hornblende or biotite. stock intruding volcanic greenstones - a geological environment similar to the Omai gold mine in Guyana. A total of 750m. of drilling in 6 drill holes should be completed on the Yakishuru and other gold prospects at Ianna over the next six weeks. Some of the better drill intersections reported from the recently completed Phase 1 drill program include 119.0m. at 0.62 gpt., 58.0m. at 0.82 gpt., 25.0m. at 1.30 gpt., 21.0m at 1.77 gpt and 1.0m. at 52.80 gpt. gold. This drilling program is a part of the $300,000 Phase 2 exploration program launched in September. The work program includes IP- resistivity resistivity Electrical resistance of a conductor of unit cross-sectional area and unit length. The resistivity of a conductor depends on its composition and its temperature. and magnetic surveys, deep auger sampling and diamond drilling to further define several gold prospects at Ianna. Canarc has an option to earn up to a 65 percent interest in Ianna from Roraima Gold Corp. 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 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 CONTACT: Diane Thomas Vice-President Robert Carriere Investor Relations Investor relations The process by which the corporation communicates with its investors. 604/685-9700 604/685-9744 (Fax) |
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