Canarc Resource - Two New Gold Zones Extended by Underground Drilling at Polaris Taku, Canarc Adds New Claim to Polaris Taku Land Holdings.VANCOUVER, BRITISH COLUMBIA--(BUSINESS WIRE)--Feb. 27, 1997-- 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 .) Canarc Resource Corp. has extended two new gold zones by underground drilling in the 200 hole feasibility program now ongoing at the Polaris Taku 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 . Drilling on the AJ level continues to intersect ore grades over mineable widths in the "Serpentine serpentine (sûr`pəntēn, –tīn), hydrous silicate of magnesium. It occurs in crystalline form only as a pseudomorph having the form of some other mineral and is generally found in the form of chrysotile (silky fibers) and " zone (DDH DDH Decision Diffie-Hellman DDH Developmental Dysplasia of Hip DDH Dorothy Day House DDH Document Drafting Handbook DDH Dublin Dental Hospital DDH Destroyer-Carrying Helicopter DDH Dissociated Double Hypertropia 96-24, 97-2 to 7) and the "D" zone (DDH 96-17, 97-11 to 13). Highlights include drill intersections of 0.49 oz./ton over 17.4 feet and 0.30 oz./ton over 8.7 feet in the "Serpentine" zone, and 0.26 oz./ton over 26.0 feet and 0.38 oz./ton over 10.0 feet in the "D" zone. Significant drill intercepts are tabled below. True widths average 80 percent of intersected core lengths and the cutoff grade is 0.20 oz./ton gold. -0-
DRILL HOLE FROM TO CORE LENGTH GOLD GRADE
NO. (FT.) (FT.) (FT.) (OZ./TON)
96-24 549.8 567.2 17.4 0.49
97-03 468.6 473.6 5.0 0.21
97-04 371.4 376.4 5.0 0.21
641.7 651.0 9.3 0.25
97-05a 731.8 735.0 3.2 0.53
97-06 565.0 567.2 2.2 0.76
626.9 632.0 5.1 0.49
97-07 33.9 42.6 8.7 0.30
97-08 68.4 71.8 3.4 0.49
97-09 171.7 176.7 5.0 0.32
97-10 144.6 149.6 5.0 0.52
176.7 197.3 20.6 0.24
incl. 191.7 197.3 5.6 0.48
96-17 183.3 203.0 19.7 0.23
97-11 300.8 303.9 3.1 0.48
441.3 446.6 5.3 0.54
492.1 502.1 10.0 0.38
97-12 435.1 442.1 7.0 0.44
97-13 199.1 206.9 7.8 0.40
218.7 244.7 26.0 0.26
incl. 228.7 238.7 10.0 0.39
787.6 792.6 5.0 0.36
837.6 842.9 5.3 0.24
Drill holes 97-2 to 7 delineated de·lin·e·ate tr.v. de·lin·e·at·ed, de·lin·e·at·ing, de·lin·e·ates 1. To draw or trace the outline of; sketch out. 2. To represent pictorially; depict. 3. the "Serpentine" zone over a 600' length and 250' vertically, still open in all directions. This new zone appears to belong to the "Y" type vein set, a swarm of two dozen or more, north-trending, 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. shearrs. DDH 97-8 also intersected a separate "Y" type mineralized zone. DDH 97-1 experienced drilling problems and was abandoned at 32 feet. These "Y" type zones pinch and swell along strike and down dip,, having produced some of the widest and richest ore stopes Stopes , Marie Carmichael 1880-1958. British social reformer who opened England's first birth control clinic (1924) in London and later promoted family planning in east Asia. in the mine historically. Excellent ore reserve potential remains in these "Y" zones but they have only received limited drilling to date. Drill holes 97-9 and 10 tested the "25" zone, the uppermost and westernmost of three "C" type zones within the mine. This zone was mined and drilled for 220' along strike. It then turns to meet the "A" zone to the southwest and "Y" zone to the northeast, and it remains open down dip. The "C" type zones are northeast-trending, consistently mineralized shears that link the "AB" zones with the "Y" zones in three discrete areas of the mine forming what was called "junction arcs". Since these zones were only discovered and developed later in the mine life, the "C" zones represent a significant part of the current resources at Polaris. Drill holes 97-11 to 13 outline the "D" zone, a new fourth "C" type zone not previously drilled, developed or mined. It has been traced for 150' along strike and 100' down dip, still open in all directions. Underground rehabilitation, drilling, mapping and sampling will continue on an ongoing basis throughout 1997 as part of the feasibility program. Canarc is also carrying out engineering, metallurgical, environmental and permitting work in order to complete a full feasibility study The analysis of a problem to determine if it can be solved effectively. The operational (will it work?), economical (costs and benefits) and technical (can it be built?) aspects are part of the study. Results of the study determine whether the solution should be implemented. in early 1998. CANARC WINS CLAIM DISPUTE, ADDS NEW CLAIM TO POLARIS TAKU PROPERTY Canarc Resource Corp. is also pleased to announce success in a two year old claim dispute governing the claim adjoining the Polaris Taku property to the north. In 1995, Canarc filed a complaint with the Chief Gold Commissioner of British Columbia asking that the North 1 claim of Ecstall Mining Corp. be thrown out. The Chief Gold Commissioner recently rendered his final decision on this matter and agreed with Canarc to reject the filing of the North 1 claim. As a result, Canarc has acquired a new claim covering an additional 600 acres of highly prospective volcanic rocks rocks which have been produced from the discharges of volcanic matter, as the various kinds of basalt, trachyte, scoria, obsidian, etc., whether compact, scoriaceous, or vitreous. See also: Volcanic immediately along strike from the Polaris Taku gold deposit to the north. The Commissioner's order is particularly gratifying grat·i·fy tr.v. grat·i·fied, grat·i·fy·ing, grat·i·fies 1. To please or satisfy: His achievement gratified his father. See Synonyms at please. 2. in that Ecstall had made public a number of negative allegations about Canarc's conduct that actually applied to their own conduct, not Canarc's. The Company intends to carry out a surface exploration program on the new claim this summer. 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 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 http://www.mcomm.com/Canarc |
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