Canarc Resource Corp. reports that Rayrock drilling extends Bellavista deposit, Costa Rica.VANCOUVER, BC--(BUSINESS WIRE)--May 10, 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 ) Canarc Resource Corp. announces that Minera Rayrock Inc. has confirmed a north extension to the Bellavista gold deposit in Costa Rica Costa Rica (kŏs`tə rē`kə), officially Republic of Costa Rica, republic (2005 est. pop. 4,016,000), 19,575 sq mi (50,700 sq km), Central America. by recent drilling. The north extension has now been tested by 23 holes in an area measuring 250 meters by 100 meters. Some of the better drill intersections are as follows: -0-
Core Gold
Length (m) Grade (gpt)
----------------------------
30.0 3.7
98.0 4.1
98.0 3.9
114.0 2.9
118.0 3.0
Ore reserve estimation and mine planning are currently in progress as part of the US$12 million final feasibility study The analysis of a problem to determine if it can be solved effectively. The operational (will it work?), economical (costs and benefits) and technical (can it be built?) aspects are part of the study. Results of the study determine whether the solution should be implemented. now underway. In addition to the expanded open pit potential, there is also potential for underground mining in the more northerly, deeper and higher grade portion of the Bellavista deposit. Rayrock previously reported a 731,000 oz. mineable reserve at Bellavista as part of a larger 1,055,000 oz geological resource. Rayrock expects the mineable reserves to increase as a result of the current work program. Canarc owns an 18.3% carried interest in the Bellavista property, located in the central mineral belt of Costa Rica near the Pan American Highway. Minera Rayrock is the operating partner. Canarc Resource Corp. is a growth-oriented, international gold exploration and mining company with active gold 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 (4%) and Echo Bay Mines (10%). ON BEHALF OF THE BOARD OF DIRECTORS Bradford J. Cooke President CONTACT: Todd McMurray, Vice President Investor Relations Investor relations The process by which the corporation communicates with its investors. , 604/685 9700 INDUSTRY KEYWORD: MINING REPEATS: New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of 212-575-8822 or 800-221-2462; Boston 617-330-5311 or |
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