Canarc Resource Corp. - further deep drill intersections from Polaris Taku Property, B.C.VANCOUVER, British Columbia--(BUSINESS WIRE)--Oct. 12, 1995--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 ) reports several significant deep drill intersections from recent drilling 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 . Four drill holes have now been completed to test the deep potential of the C vein. Hole PC95-C40 intersected an impressive high grade zone almost half a mile deep, as well as a newly discovered gold vein in the upper portion of the hole. Holes C42 and C43 also successfully intersected the new vein discovery and hole C43 returned a high grade intercept in the C vein, as follows: -0-
Hole(No.) Zone From To Core Gold Grade
(ft.) (ft.) Length (oz/ton)
(ft.)
-------- -------- ------- ------ ------- ---------
PC95-C40 New vein 1620.1 1634.5 14.4 0.31
incl. 1620.1 1624.2 4.1 0.64
Deep C vein 2387.8 2412.2 24.4 0.36
incl. 2391.5 2395.7 4.2 0.48
and 2402.2 2412.2 10.0 0.47
PC95-C41 Hole deviated down and east, sub-parallel
to deep C vein, hole abandoned.
PC95-C42 New vein 1045.2 1057.6 12.4 0.32
Deep C vein Hole deviated up & east, hole maintained
for deep wedging.
PC95-C43 New vein 1163.2 1171.4 8.2 0.44
Deep C vein 1581.5 1591.6 10.1 0.45
Interpretation of holes C40, C41, C42 and C43 has been complicated by major directional deviations of these deep holes. Hole C41 appears to have deviated away from the expected location of the two veins. In order to correct the deep drilling directional problems, CBC (1) (Cell Broadcast Center) See cell broadcast. (2) (Cipher Block Chaining) In cryptography, a mode of operation that combines the ciphertext of one block with the plaintext of the next block. WELNAV Inc., a specialist in deep directional drilling Directional drilling (sometimes known as slant drilling outside the oil industry) is the science of drilling non-vertical wells. Directional drilling can be broken down into three main groups: Oilfield Directional Drilling, Utility Installation Directional Drilling (commonly , has been commissioned to assist in the drilling of hole PC95-C44 and several other wedged wedged - 1. To be stuck, incapable of proceeding without help. This is different from having crashed. If the system has crashed, it has become totally non-functioning. If the system is wedged, it is trying to do something but cannot make progress; it may be capable of doing a few holes into the deep C vein target zone. The three "new vein" intersections represent a whole new area of potential gold reserves. They are tentatively interpreted to be an extension of the Y vein system an additional 2000 feet further south and 300 feet deeper than the deepest existing Y vein gold reserve area. Hole PC95-C44 which is currently being collared, and the anticipated wedged holes should, in addition to penetrating the deep C vein, provide further intersections into the new Y vein so that new reserves can be estimated in this area. Canarc Resource Corp. is a growth-oriented international gold exploration and mining company with active projects in North, Central and South America South America, fourth largest continent (1991 est. pop. 299,150,000), c.6,880,000 sq mi (17,819,000 sq km), the southern of the two continents of the Western Hemisphere. . 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. (4 per cent) and Echo Bay Mines Ltd. (10 per cent). THE VANCOUVER STOCK EXCHANGE Vancouver Stock Exchange (VSE) A securities and options exchange in Vancouver, British Columbia, (Canada), specializing in venture capital companies. Vancouver Stock Exchange See Canadian Venture Exchange (CDNX). NEITHER APPROVES NOR DISAPPROVES OF THE CONTENTS OF THIS NEWS RELEASE WHICH WAS PREPARED SOLELY AT THE DISCRETION OF MANAGEMENT CONTACT: Diane Thomas or Robert Carriere, (604) 685-9700 |
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