Canarc Resource Corp.: Drilling Intersects Multiple High Grade Gold Zones Including 0.93 opt Over 26.4 ft on New Polaris Property, B.C.VANCOUVER, 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 -- Canarc Resource Corp. (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 )(OTCBB OTCBB See OTC Bulletin Board (OTCBB). :CRCUF) announces multiple high grade gold intercepts from the recently completed Phase 1 in-fill drilling program on the New Polaris property in northwestern British Columbia. Eleven holes (for a total of 8008 ft or 2441 m of core) were drilled in late 2004 on 100 ft (30 m) spacings to test the C Zones over an initial 500 ft (152 m) strike length by 200 ft (61 m) down dip below the deepest mine level. All eleven drill holes intersected economically significant gold grades and vein widths in two main, sub-parallel, en-echelon, shear-veins, the "Upper C" and "Lower C". Individual drill intercepts returned assays such as 0.93 opt (31.9 gpt) gold over 26.4 ft (8.05m) in the lower C vein and 0.45 opt (15.3 gpt) over 29.5 ft (9.0 m) in the Upper C vein. The weighted average of all 22 vein intercepts graded 0.42 opt (14.4 gpt) over a 12.4 ft (3.78m) core length. True widths of the veins are estimated to be 85 to 90% of the core lengths. Assay results are shown in the attached table. These first eleven in-fill drill holes tested the Upper and Lower C zones below the No.600 mine level, (ASL ASL - Algebraic Specification Language -450 ft) near the No.1 fault, a late brittle (jargon) brittle - Said of software that is functional but easily broken by changes in operating environment or configuration, or by any minor tweak to the software itself. Also, any system that responds inappropriately and disastrously to abnormal but expected external stimuli; e. fault which bisects the C zones into east and west segments. As can be seen on the attached longitudinal lon·gi·tu·di·nal adj. Running in the direction of the long axis of the body or any of its parts. sections, the C zones are rotated rotated turned around; pivoted. rotated tibia see rotated tibia. about 35 degrees around the No.1 fault, necessitating two drill grids and two looking directions on the longitudinal sections. The C zones were originally 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. in the 1990's by more open spaced drilling over an 800 ft (244 m) strike length and down to 2340 ft (713 m) in vertical depth, where drill hole PC95-40 intersected 0.33 opt (11.3 gpt) gold over a 27.8 ft (8.47 m) core length. The C zones are still wide open at depth and to a certain extent along strike. A Phase 2 in-fill drilling program is now being planned for 2005 (subject to financing) to continue defining and extending the known C zones at 100 ft intervals over a 1000 foot (305 m) strike length and 1200 feet (366 m) down-dip. It will also target two of the known Y zones over a 500 ft (152 m) length and 1200 feet (366 m) down dip. The purpose of this drilling program is to outline at least a 550,000 oz resource amenable AMENABLE. Responsible; subject to answer in a court of justice liable to punishment. to a feasibility study "A Feasibility Study" is an episode of the original The Outer Limits television show. It first aired on 13 April, 1964, during the first season. It was remade in 1997 as part of the revived The Outer Limits series with a minor title change. for a 65,000 oz per yr high grade, underground gold mine with a minimum 8-year mine-life. New Polaris was previously estimated (in 1998) by Peter Karelse, P.Geo., to contain a 1.3 million oz gold resource (3.6 million tons grading 0.36 opt gold) based on 202 drill holes. This resource estimate precedes NI 43-101 and is therefore not compliant with it and should not be relied upon. The deposit is still open for expansion. Bradford Cooke, Canarc's President and C.E.O., stated, "These multiple high grade drill intercepts confirm our long held opinion that New Polaris has the potential to be western Canada's next high grade, underground gold mine. Our re-activation of the New Polaris project coincides not only with higher gold prices but also with the pending development of the large Tulsequah Chief copper-zinc-gold-silver mine and road access of Redcorp Ventures, immediately adjacent to the New Polaris property." James Moors Moors, nomadic people of the northern shores of Africa, originally the inhabitants of Mauretania. They were chiefly of Berber and Arab stock. In the 8th cent. the Moors were converted to Islam and became fanatic Muslims. , B.Sc., P.Geo, is the Qualified Person who supervised su·per·vise tr.v. su·per·vised, su·per·vis·ing, su·per·vis·es To have the charge and direction of; superintend. [Middle English *supervisen, from Medieval Latin the 2004 drilling program on the New Polaris property. He has instituted a Quality Control sampling program of blanks to ensure the integrity of all assay results. All drill core was split by Canarc personnel at the New Polaris camp, and then flown to Vancouver for assay by ALS Als (äls), Ger. Alsen, island, 121 sq mi (313 sq km), Sønderjylland co., S Denmark, in the Lille Bælt, separated from the mainland by the narrow Alensund. Chemex. The core samples were dried, crushed, split and a 30-gram subsample sub·sam·ple n. A sample drawn from a larger sample. tr.v. sub·sam·pled, sub·sam·pling, sub·sam·ples To take a subsample from (a larger sample). was taken for analysis. Gold content was determined by fire assay with an atomic absorption finish (FA-AA) and other trace elements Trace elements A group of elements that are present in the human body in very small amounts but are nonetheless important to good health. They include chromium, copper, cobalt, iodine, iron, selenium, and zinc. Trace elements are also called micronutrients. were analyzed an·a·lyze tr.v. an·a·lyzed, an·a·lyz·ing, an·a·lyz·es 1. To examine methodically by separating into parts and studying their interrelations. 2. Chemistry To make a chemical analysis of. 3. by atomic absorption. ALS Chemex also uses its own standards for quality control checks. 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 New Polaris gold deposit, British Columbia and its 80% option on the 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.
Hole Depth
Hole Zone (feet) Length Length Au Au
From To ft m opt gpt
04-2100SW1 C Upper East 548.5 553.8 5.8 1.62 0.12 4.0
C Lower East 565.5 572.5 7.0 2.13 1.03 35.3
04-2100SW2 C Upper East 554.0 563.0 9.0 2.74 0.16 5.4
C Lower East 637.2 663.6 26.4 8.05 0.93 31.9
04-2200SW1 C Upper East 534.0 537.0 3.0 0.91 0.15 5.1
C Lower East 587.6 634.6 47.0 14.33 0.34 11.6
incl. 587.6 610.0 22.4 6.83 0.44 15.2
incl. 619.8 634.6 14.8 4.53 0.38 13.0
04-2200SW2 C Lower East 627.3 641.0 13.7 4.18 0.75 25.7
650.4 662.3 11.9 3.63 0.15 5.2
04-2000SW1 C Lower East 593.0 596.2 3.2 0.98 0.33 11.2
04-2000SW2 C Hanging Wall 361.8 368.3 6.5 1.98 0.12 4.2
C Upper East 594.5 596.0 1.5 0.46 0.16 5.5
C Lower East 677.6 685.5 7.9 2.41 0.43 14.8
04-2000SW3 C Hanging Wall 447.4 451.6 4.2 1.28 0.31 10.7
C Upper East 644.3 668.0 23.7 7.22 0.21 7.2
incl. 644.3 653.0 8.7 2.65 0.26 8.9
incl. 661.5 668.0 6.5 1.98 0.36 12.3
C Lower East 734.5 757.0 22.5 6.86 0.42 14.5
incl. 741.0 745.6 4.6 1.40 0.65 22.4
incl. 747.9 754.6 6.7 2.04 0.85 28.9
04-5700E1 C Upper East 605.0 630.0 29.5 8.99 0.45 15.3
incl. 600.5 608.0 7.5 2.29 0.73 25.2
incl. 615.0 626.0 11.0 3.35 0.65 22.2
C Upper West 657.0 681.0 24.0 7.32 0.12 4.0
incl. 657.0 661.0 4.0 1.22 0.36 12.5
C Lower West 758.5 772.2 13.7 4.18 0.40 13.6
incl. 762.0 769.2 7.2 2.19 0.68 23.1
04-5700E2 C Upper West 766.6 767.6 1.0 0.30 0.90 30.9
C Lower West 842.0 850.0 8.0 2.44 0.27 9.2
04-5600E1 C Upper West 662.5 666.1 3.6 1.10 0.30 10.2
C Lower West 687.2 700.2 13.0 3.96 0.15 5.1
04-5600E2 C Upper West 728.6 737.3 8.7 2.65 0.29 10.1
747.0 752.6 5.6 1.71 0.25 8.5
776.2 779.5 3.3 1.01 1.13 38.6
C Lower West 809.2 816.0 6.8 2.07 0.34 11.8
832.8 833.7 0.9 0.27 0.62 21.2
04-2000SW2 C Hanging Wall 361.8 368.3 6.5 1.98 0.12 4.2
C Upper East 594.5 596.0 1.5 0.46 0.16 5.5
C Lower East 677.6 685.5 7.9 2.41 0.43 14.8
04-2000SW3 C Hanging Wall 447.4 451.6 4.2 1.28 0.31 10.7
C Upper East 644.3 668.0 23.7 7.22 0.21 7.2
incl. 644.3 653.0 8.7 2.65 0.26 8.9
incl. 661.5 668.0 6.5 1.98 0.36 12.3
C Lower East 734.5 757.0 22.5 6.86 0.42 14.5
incl. 741.0 745.6 4.6 1.40 0.65 22.4
incl. 747.9 754.6 6.7 2.04 0.85 28.9
To view the maps accompanying this press release please click on the following links: http://www2.ccnmatthews.com/database/fax/2000/CCM0112a.pdf http://www2.ccnmatthews.com/database/fax/2000/CCM0112b.pdf The TSX Exchange has neither approved nor disapproved the contents of this news release. Canarc Resource Corp. (TSX:CCM) (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) |
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