Canarc Resource Corp.: High Grade Gold Intersected by Phase 2 Infill Drilling on New Polaris Property, British Columbia.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 that high grade gold has been intersected during the Phase 2 infill drill program on the New Polaris property in northwestern British Columbia. Each hole intersected the C vein system over broad widths and each C vein intercept contains intervals of high grade gold. The weighted average of the C vein intercepts is 0.37 oz per ton (12.7 gpt) over a 39.9 foot core length (12.2 m) and the higher grade intervals average 0.59 oz per ton gold (20.2 gpt) over an 11.6 foot core length (3.5 m), as follows.
NEW POLARIS PROJECT C VEIN SYSTEM - 2005 DRILL RESULTS
CROSS SECTION 2100SW
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Hole (No) From To Interval Gold
(ft) (ft) (ft) (oz per ton)
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05-2100SW-3 701.9 732.0 30.1 0.29
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incl. 703.5 709.0 5.5 0.53
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05-2100SW-4 728.0 767.0 39.0 0.58
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incl. 732.8 749.9 17.1 0.79
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and 750.9 756.7 5.8 0.90
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05-2100SW-5 757.5 808.0 50.5 0.25
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incl. 761.5 779.0 17.5 0.30
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and 799.0 808.0 9.0 0.64
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Drilling on Section 2100SW continued down-dip from the Phase 1 drilling program, and in particular, tested an area where a previous result from 1990 suggested a vein geometry inconsistent with that indicated by subsequent pierce points. Closely spaced drill-holes 2100SW3 and 2100SW4 greatly increase the confidence of vein continuity and thickness in this area. Hole 2100SW5 successfully outlined the C veins continuity into a 300 feet long gap in drilling on this section. (see figure: Drill Section 2100SW, incl.). The C vein flattens below the deepest level (600) in the mine and has been drilled down deep for 800 feet (244 m), still open at depth. The thicker, richer gold intercepts in the flattened zone may be amenable to lower cost, modern mechanized mech·a·nize tr.v. mech·a·nized, mech·a·niz·ing, mech·a·niz·es 1. To equip with machinery: mechanize a factory. 2. mining methods as compared to the shrinkage stoping carried out historically in the steeper portions of the veins. True thicknesses are estimated to be 85% to 95% of the core lengths. The Phase 2 infill drilling program consisted of nine holes (for a total of 7733 ft or 2357 m) drilled in late 2005 on three section lines Section lines in the United States are one mile apart. When surveyors originally map an area, for instance a township, it was their custom to divide the new township into 36 - 1 square mile sections. Property ownership often followed this layout. A section is a 1 by 1 mile area. to test the C Zones starting a further 100 ft (61 m) down dip and 100 feet along strike from last year's Phase 1 in fill drilling program below the deepest mine level. One hole was terminated after significant deviation in overburden o·ver·bur·den tr.v. o·ver·bur·dened, o·ver·bur·den·ing, o·ver·bur·dens 1. To burden with too much weight; overload. 2. To subject to an excessive burden or strain; overtax. n. 1. , and a planned 10th hole was cancelled on account of unsafe flying conditions. Further results from the remaining five completed holes will be available shortly. James Moors, B.Sc., P.Geo, is the Qualified Person who supervised the 2005 drilling program on the New Polaris property. He has instituted a Quality Control sampling program of blanks, duplicates and standards 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 a gravimetric finish on samples containing greater than 1 ppm Au, 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 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 in 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. CAUTIONARY DISCLAIMER - FORWARD-LOOKING STATEMENTS Certain statements contained herein regarding the Company and its operations constitute "forward-looking statements" within the meaning of the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. All statements that are not historical facts, including without limitation statements regarding future estimates, plans, objectives, assumptions or expectations of future performance, are "forward-looking statements". We caution you that such "forward-looking statements" involve known and unknown risks and uncertainties that could cause actual results and future events to differ materially from those anticipated in such statements. Such risks and uncertainties include fluctuations in precious metal prices, unpredictable results of exploration activities, uncertainties inherent in the estimation of mineral reserves and resources, fluctuations in the costs of goods and services In economics, economic output is divided into physical goods and intangible services. Consumption of goods and services is assumed to produce utility (unless the "good" is a "bad"). It is often used when referring to a Goods and Services Tax. , problems associated with exploration and mining operations, changes in legal, social or political conditions in the jurisdictions where the Company operates, lack of appropriate funding and other risk factors, as discussed in the Company's filings with Canadian and American Securities regulatory agencies. The Company expressly disclaims any obligation to update any forward-looking statements. To view the map accompanying this press release please click on the following link: http://www.ccnmatthews.com/docs/20051207-ccmmap.jpg 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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