Canarc Resource Corp.: Gold-Copper Porphyry Mineralization in JQA Prospect Area Expanded by Final 2003 Drill Results on Benzdorp Property, Suriname.Business Editors VANCOUVER, British Columbia--(BUSINESS WIRE)--March 17, 2004 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 ) (OTC-BB: CRCUF) announces that the gold-copper, porphyry-type stockwork 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. discovered last year in the JQA JQA John Quincy Adams JQA Japanese Quality Association prospect area was extended a further 100 m east by drill holes BZ03-29, 30, 31 and 32, as follows:
Hole (No.) From (m) To (m) Length (m) Gold (gpt)
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BZ03-29 0.00 9.14 9.14 0.37
21.34 27.43 6.09 0.33
38.10 48.77 10.67 0.37
BZ03-30 0.00 50.29 50.29 0.37
BZ03-31 0.00 12.19 12.19 0.38
32.00 57.91 25.91 0.30
BZ03-32 0.00 39.62 39.62 0.36
Holes BZ03-29 to 32 were drilled at -60 degrees to the west, roughly 100m east of holes BZ03-6, 4, 2 and 13 respectively. The generally lower grade results of all four holes compared to the other drill holes in the JQA discovery area indicate the mineralization appears to diminish to the east. In fact, holes BZ03-33, 34 and 35 were drilled a further 100m, 300m and 500m east of hole BZ03-3 on Line 20,400 and intersected generally unmineralized 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. intrusive and andesite andesite Any member of a large family of rocks that occur in most of the world's volcanic areas, mainly as surface deposits and to a lesser extent as dikes and small plugs. 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 . Holes BZ03-36, 37 and 38 were drilled in the Roche Kreek prospect area 5 km south of JQA. They did not intersect any significant mineralization and failed to explain the rather pronounced surface gold-copper soil anomaly at Roche Kreek. In summary, the Phase 1 drilling program on the Benzdorp property in 2003 successfully discovered a large area of low grade, open pittable gold-copper 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. mineralization at the JQA prospect. Twelve drill holes, BZ03-1, 2, 4-8, 13, 15, 16, 18, 20, outline an area measuring at least 500m by 500m and averaging 0.60 gpt gold (from top to bottom, both saprolite sap·ro·lite n. Soft, partially decomposed rock rich in clay and remaining in its original place. saprolite and bedrock) and 0.15% copper (bedrock only), open for expansion in several directions. The Phase 2 drilling program now underway will focus on extending the JQA discovery to at least 250m or more in depth by drilling 7,500m in 25 holes angled -60 degrees to the west 100m apart on a 100m spaced grid. That should allow the calculation of a preliminary resource by the end of the second quarter in 2004. Godfrey Walton, M.Sc., P.Geo, is the Qualified Person who supervised the Phase 1 drilling program in 2003 on the Benzdorp property. He instituted a Quality Control program of blanks and duplicates to ensure the integrity of all assay results. All drill core is split by Canarc personnel at the Benzdorp camp, and then flown to Parimaribo for shipment to FILAB, a large, European commercial lab company operating in Cayenne, French Guyana. The core samples are then 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). is taken for analysis. Gold is determined by fire assay with an atomic absorption finish and copper is analyzed by inductively coupled plasma An inductively coupled plasma (ICP) is a type of plasma source in which the energy is supplied by electrical currents which are produced by electromagnetic induction, that is, by time-varying magnetic fields. spectroscopy. FILAB is using its own standards for quality control checks. Canarc will also be sending reject samples from FILAB to other laboratories for additional quality assurance 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 1.3 million oz New Polaris gold deposit located in northwestern British Columbia and its option on the huge Benzdorp gold property in Suriname. Major shareholders include Barrick Gold Corp. and Kinross Gold Corp. On Behalf of the Board of Directors CANARC RESOURCE CORP. Bradford J. Cooke, President and C.E.O. To view the map accompanying this press release please click on the following link: http://www2.cdn-news.com/database/fax/2000/CCM0317.gif. The TSX Exchange has neither approved nor disapproved the contents of this news release. |
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