Canarc Resource Corp.: Drilling Extends Porphyry Gold Mineralization 350m Deep at JQA Prospect on Benzdorp Property, Suriname.Business Editors VANCOUVER, British Columbia--(BUSINESS WIRE)--June 3, 2004 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 recent Phase 2 drilling program now underway on the Benzdorp property in Suriname has extended 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. 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. at the JQA JQA John Quincy Adams JQA Japanese Quality Association prospect to a depth of 350m. Three shallow drill holes and one deep drill hole have been completed this year to date and assays are comparable to the positive results of last year's Phase 1 drill program, as follows:
Hole (No.) From (m) To (m) Length (m) Gold (gpt)
---------------------------------------------------------------
BZ04-39 0.00 169.00 EOH 169.00 0.60
including 52.00 98.50 46.50 0.85
52.00 64.00 12.00 1.08
88.00 98.50 10.50 1.01
BZ04-40 0.00 86.87 EOH 86.87 0.43(i)
Including 0.00 30.48 30.48 0.55(i)
((i) Note: Core recoveries only 35%)
BZ04-41 0.00 59.44 59.44 0.45
BZ04-42 0.00 400.81 EOH 400.81 0.48 uncut
Including 0.00 120.40 120.40 1.14 uncut
(0.60 cut)
33.53 42.67 9.14 9.12 uncut
(2.11 cut)
Holes BZ04-39, 40 and 42 were drilled on section line 20,400, angled -60 degrees west and collared within 10m of hole BZ03-04 (0.64 gpt gold over 113.39m). Due to poor drilling conditions at that particular site (as shown by the poor core recoveries of only 69% and 35% respectively), holes BZ04-39 and 40 were terminated at shallow depths. Hole BZ04-41 was collared on section line 20,400 about 20m east of hole BZ03-03 (0.37 gpt gold over 74.68m) and also was terminated early (core recoveries averaged 68%). Hole BZ04-42 was collared beside hole BZ04-39 and drilled at -60 degrees west to a depth of 400.81m (350m vertical). Porphyry gold-copper mineralization and alteration was encountered from top to bottom. Gold grades are higher in the 100m thick saprolite sap·ro·lite n. Soft, partially decomposed rock rich in clay and remaining in its original place. saprolite (oxide capping) zone and then diminish slightly in bedrock. For the first time, high grade mineralization (9.12 gpt gold over 9.14m) was also intersected at JQA. An additional 3 deep drill holes (BZ04-43, 44, 45) have been completed and all core samples are now at the Inspectorate in·spec·tor·ate n. 1. The office or duties of an inspector. 2. A staff of inspectors. 3. An inspector's district. inspectorate Noun 1. laboratory in Paramaribo for assay. Copper is also being analyzed in the bedrock core samples. Management views the results of hole BZ04-42 as a successful confirmation of the porphyry geologic model for the JQA prospect. Porphyries tend to be deep-seated ore-bodies with significant depth potential. JQA displays distinct similarities to the 10 million oz Boddington porphyry gold-copper deposit now being developed by Newmont Anglo/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. . However, most of the low cost saprolite (oxide capping) ore at Boddington has already been mined whereas at Benzdorp, the 50m to 100m thick saprolite zone is still 100% preserved. 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, 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 as an additional quality assurance check. 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 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 and its option on the 340,000 acre 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 Kinross Gold Corporation (TSX: K, NYSE: KGC) is a Canadian gold mining company. It is the seventh largest primary gold producer in the world.[1] See also
1. ^ Kinross Gold. Corp. On Behalf of the Board of Directors CANARC RESOURCE CORP. Bradford J. Cooke, President and C.E.O. To view the attached map please click on the following link: http://www2.cdn-news.com/database/fax/2000/0603ccm.pdf The TSX Exchange has neither approved nor disapproved the contents of this news release. |
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