Canarc Resource Identifies Additional Gold Reserve Areas at Polaris Taku.VANCOUVER Vancouver, city, Canada Vancouver, city (1991 pop. 471,844), SW British Columbia, Canada, on Burrard Inlet of the Strait of Georgia, opposite Vancouver Island and just N of the Wash. border. , BRITISH COLUMBIA--(BUSINESS WIRE)--Sept. 24, 1996-- Canarc Resource Corp. (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 .TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). ), has identified several areas underground at its Polaris Polaris (pōlâr`ĭs) or North Star, star nearest the north celestial pole (see equatorial coordinate system). Taku Taku can refer to:
that offer significant potential to develop new mineable gold reserves with limited drilling. These areas would also partially augment aug·ment v. aug·ment·ed, aug·ment·ing, aug·ments v.tr. 1. To make (something already developed or well under way) greater, as in size, extent, or quantity: the 1.45 million ounce ounce, in zoology ounce, in zoology: see leopard. ounce, unit of measurement ounce: see English units of measurement. gold resource currently reported at Polaris Taku. A recently completed geologic ge·ol·o·gy n. pl. ge·ol·o·gies 1. The scientific study of the origin, history, and structure of the earth. 2. The structure of a specific region of the earth's crust. 3. A book on geology. review of historic drilling and production data has revealed 39 separate drill targets as well as 35 individual reserve blocks covering every level in the mine workings. Perhaps the most attractive target areas lie at the top of the mine, between the Canyon adit and surface, and the bottom of the mine, below the 750 level. The uppermost area has several surface exposures of veins that may be mineable by open pit methods. Assays taken prior to 1950 include 0.15 opt. gold over a 50 foot width, and 0.87 opt. over 10 feet. This area is open to the north. The lowermost area has 2 veins found by a wildcat wildcat, common name of two Old World cats, the European wildcat, Felis sylvestris, of Europe and W Asia, and the African wildcat, or kaffir cat, F. lybica, of Africa and Asia. hole drilled prior to 1950 from the 750 station at the bottom of the shaft shaft (shaft) a long slender part, such as the diaphysis of a long bone. shaft n. 1. An elongated rodlike structure, such as the midsection of a long bone. 2. . This drill hole intersected 0.32 opt. gold over 10 feet and 0.46 opt. over 2 feet indicating the possibility of a simple extension of the AB vein system, or a new parallel vein system at depth. The excellent potential for developing new gold reserves, as well as expanding previous resources throughout the mine is indicated by selected historic assay data tabulated below: -0- Additional Gold Reserve Areas Identified Underground at Polaris Taku Property
LEVEL VEIN SAMPLE WIDTH GRADE DRIFT
TYPE (FT.) (OPT.) LENGTH
(FT.)
Surface 101 O/C 10.0 0.87
O/C 12.0 0.78
102 O/C 4.1 0.98
O/C 7.0 0.64
O/C 14.6 0.40
103 O/C 3.0 1.14
O/C 3.5 1.00
A O/C 14.0 0.46
O/C 14.5 0.37
O/C 13.5 0.50
Timmins 101 Underground UG 8.0 0.66
UG 3.1 0.60
DDH 5 5.8 1.70
Canyon 102 DDH 1 15.0 0.44
DDH 2 10.0 0.35
DDH 3 9.0 0.63
UG 6.1 0.40 77
C 22 DDH 325 5.5 0.44
DDH 390 3.3 0.62
DDH 355 5.4 0.70
A UG 4.4 0.41 23
B 45 DDH 475 12.0 0.87
UG 12.0 0.48 23
Polaris
and AJ 3 UG 6.0 0.40
UG 7.2 0.43 65
DDH 19 12.5 0.36
4 DDH 158 7.1 0.36
DDH 135 2.2 0.93
DDH 137 5.0 0.52
5 UG 4.0 0.48
UG 6.0 0.64
UG 5.5 0.41 85
UG 4.0 0.52
A UG 7.0 0.40 89
UG 4.6 0.51 56
UG 4.7 0.36 39
DDH 116 4.5 0.55
150 A UG 3.5 0.42 75
UG 4.2 0.41 51
300 B DDH L54 6.5 0.42
DDH L60 3.5 0.45
UG 7.4 0.77 76
328 DDH L50 7.5 0.47
324 UG 5.7 0.70 66
DDH L56 19.5 0.39
DDH L66 4.5 0.45
DDH L51 11.0 0.46
UG 9.0 0.40
UG 8.0 0.24
450 B DDH 541 3.4 0.50
UG 3.8 0.49 300.5
UG 5.4 0.39 37
468 UG 4.6 0.54 210
477 DDH 617 19.0 0.63
UG 4.2 0.50 65
DDH 470 4.5 0.46
600 Y DDH L69 4.0 0.76
UG 3.2 0.79 38
UG 3.5 0.56 169
B DDH L82 4.0 0.46
UG 5.1 0.51
DDH L72 6.3 0.34
DDH 636 4.0 0.88
DDH 635 5.0 0.34
UG 6.7 0.50 70
5.1 0.41 140
750 B? DDH L84 10.0 0.32
DDH L84 2.0 0.46
DDH L84 1.3 0.72
As can be seen from the table, each of these samples represents ore grades Ore grade is a measure that describes the concentration of a valuable natural material (such as metals or minerals) in its surrounding ore. Ore grade is used to assess the economic feasibility of a mining operation: the cost of extracting a natural material from its ore is directly over mineable widths in areas underground that were never mined for various reasons. Many of these potential reserve areas are readily accessible and should be mineable in the early stages of commercial production. "We are quite keen to resample and drill these additional gold reserve areas underground as soon as possible. They should add to both our mineable, proven and probable reserves as well as our total possible gold resources at the mine site," stated Bradford Bradford, city, England Bradford, city (1991 pop. 293,336) and metropolitan district, N central England, on a small tributary of the Aire River. It is a center of the worsted industry, which dates from the Middle Ages. Cooke, President and C.E.O. of Canarc. Canarc currently is advancing a major underground rehabilitation rehabilitation: see physical therapy. , development, drilling and feasibility program onsite in order to reach a production decision within the next 18 months. Drilling and mining work is scheduled to commence in October October: see month. . Canarc Resource Corp. is a growth-oriented, international gold exploration and mining company with active projects worldwide. 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. (3 percent) and Echo Bay Mines Ltd. (9 percent). ON BEHALF OF THE BOARD OF DIRECTORS CANARC RESOURCE CORP. Bradford J. Cooke President NOTE: If you have an E-Mail address See Internet address. e-mail address - electronic mail address and would prefer to receive Canarc's News Releases through this format, please inform us of your E-Mail address. CONTACT: Canarc Resource Corporation Robert Carriere, 604/685-9700 http://www.mcomm.com/Canarc |
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