Breaking News: $CRCUF Canarc to Sell Lightning Tree Gold Property, Idaho to Minkap Resources
VANCOUVER, BC / ACCESSWIRE / September 15, 2020 / Canarc Resource Corp. (TSX:CCM)(OTCQB:CRCUF)(Frankfurt:CAN ) (" Canarc " or the " Company ") is pleased to announce that further to its press release dated July 6, 2020, Minkap Resources Inc. (" Minkap ") has received approval of the TSX Ven...
Got this from CRCUF - Canarc to Sell Lightning Tree Gold Property, Idaho to Minkap Resources
Just In: $CRCUF Canarc Announces Upsizing of Private Placement Financing with $5.2 Million Second Tranche for Total of $8.4 Million
VANCOUVER, BC / ACCESSWIRE / September 3, 2020 / Canarc Resource Corp. (TSX:CCM)(OTCQB:CRCUF)(Frankfurt:CAN ) ("Canarc" or the "Company") is pleased to announce its intention to increase the size of its previously announced non-brokered private placement by issuing up to an additional 65,000,...
Read the whole news CRCUF - Canarc Announces Upsizing of Private Placement Financing with $5.2 Million Second Tranche for Total of $8.4 Million
News: $CRCUF Canarc to Commence 1,500 Meter Drill Program at Windfall Hills Project, BC; Director Resignation
VANCOUVER, BC / ACCESSWIRE / July 14, 2020 / Canarc Resource Corp. (TSX:CCM)(OTCQB:CRCUF)(FRA:CAN), announces that a Phase-2 core drilling program of 1,500 meters in six holes will commence on or about July 20th at its 100%-owned Windfall Hills gold property located in north-central British ...
Find out more CRCUF - Canarc to Commence 1,500 Meter Drill Program at Windfall Hills Project, BC; Director Resignation
News: $CRCUF Canarc Resource Corp. Options Lightning Tree Gold Property in Idaho to Minkap Resources Inc.
VANCOUVER, BC / ACCESSWIRE / July 6, 2020 / Canarc Resource Corp. (TSX:CCM)(OTCBB:CRCUF)(Frankfurt:CAN ) ("Canarc" or the "Company") announces that the Company has signed a non-binding letter of intent (the "LOI") dated July 6, 2020 with Minkap Resources Inc. ("MinKap") whereby MinKap (KAP)...
In case you are interested CRCUF - Canarc Resource Corp. Options Lightning Tree Gold Property in Idaho to Minkap Resources Inc.
Canarc a lot like Balmoral who was bought out by Wallbridge very nice return the market didn’t understand the trade and it became undervalued. See the same for: WHGOF, AGCBF the latter is nearing feasibility and mining permit.
That would REALLY make my day!!
This time we may see a partner for Polaris. With gold this high it becomes feasible. May see a $1 share price?
Actually a 104+ week high
Hopefully a deal in the works
Starting to get some traction here with great projects fully funded.
News: $CRCUF Canarc Discovers New High-Grade Gold Prospect, Assaying up to 18.7 g/t, at Its Hard Cash Project, Nunavut, Canada
VANCOUVER, BC / ACCESSWIRE / December 19, 2019 / Canarc Resource Corp. (TSX:CCM)(OTCQB:CRCUF)(Frankfurt:CAN) announces positive results from its 2019 exploration program of geochemical soil and rock sampling and geological mapping on the Hard Cash gold property in the Rankin-Ennadai gree...
In case you are interested CRCUF - Canarc Discovers New High-Grade Gold Prospect, Assaying up to 18.7 g/t, at Its Hard Cash Project, Nunavut, Canada
"Stock options were granted to directors and management at CAD$0.06 as an incentive to build value for the Company."
VALUE! There's no value here. nada
Bring back Catalin!
This should be illegal.
Look up financials...no revenue in the last 4 years.
Of course they did not Produce. Canarc is an Exploration Company.
They seem to be making moves that look like it.
Stock price has been on an upward move over the past month or so.
Wtf to that! Come back in the making?
This could be possible
Princeton results due in Feb.
If results are positive for a go ahead (I suspect they will be) we should see a big response.
Get on board fellas, I think we're about to move forward.
Management has rediscovered this one.
Well, hey, management said ...
Maybe there's still hope?
Canarc Provides Shareholder Update – New Board Initiates Goals and Strategies to Create Shareholder Value
Canarc Provides Shareholder Update – New Board Initiates Goals and Strategies to Create Shareholder Value
Vancouver, British Columbia (FSCwire) - Canarc Resource Corp. (TSX: CCM, OTCQX: CRCUF, Frankfurt: CAN) (“Canarc” or the “Company”) provides the following update of recent Company activities and near term outlook to shareholders. Since the Annual General Meeting held on June 29, 2018, the new board of directors and new interim CEO reviewed the Company’s previous plans and progress and decided to overhaul Canarc’s business plan.
Bradford Cooke, Founder, Chairman and Interim CEO stated, “Upon thorough review, it was clear we needed to hit the reset button for Canarc. Not only do we want to be more aggressive about creating shareholder value, we revised our goals and strategies to better facilitate value creation, with a new focus on optimizing our current assets and acquiring new projects.
“We believe we can maximize our upside potential while managing our downside risk by using our expertise and cash to grow and advance an attractive portfolio of gold assets. Our new strategy focuses on a two pronged approach: optimizing our current gold resources, and engaging in high impact exploration projects (“elephant hunting”) to create superior shareholder value.”
We added two new directors to the board and now have a more complete skill set for a mineral exploration company like Canarc, including geology/exploration, metallurgy/mining/mineral economics, financial management and capital markets
We plan to be more hands-on, generating and evaluating opportunities to create shareholder value while minimizing risk to build a sustainable business
We developed a new vision/mission/strategy statement to reflect our new outlook – see the “About Canarc” paragraph below
We intend to hire a new CEO – the interview process will start in September
We are looking for a part time Director of Investor Relations - interview process will start in September
We plan to be much more aggressive in advancing our assets and growing our business
We are forming an advisory board to provide management and directors with independent advice
Our focus is to create shareholder value, and share price appreciation, build a sustainable business, and rebuild investor confidence in the Company
We plan to enhance the value of current projects through engineering and economic studies
We plan to create new value through strategic acquisitions and exploration for new discoveries
We will pursue two main strategies to create value: gold resource optimization and high impact exploration, while remaining opportunistic to the acquisition of more advanced projects where we can add value
For us, resource optimization is where we recognize what is needed to make projects bigger and/or better, especially New Polaris and Fondaway Canyon, as well as new acquisitions of more advanced gold projects that would be accretive on a per share basis
Likewise, “elephant hunting” is where we acquire near drill-ready projects with potential for major discoveries, and spend a “little” money for a chance to find a “lot” of gold. This is a high risk, high reward strategy so we will be very particular in selecting such projects
New Polaris – our first core asset is one of the largest, highest grade undeveloped gold deposits in western Canada but the lack of road access has held the project back from mine development – the key to unlock value at New Polaris is to treat the refractory mineralization and produce dore gold bars at site so that no road is needed and the mine can be a fly-in fly-out operation - pressure oxidation works well but the Hatch autoclave study was very disappointing, concluding that an autoclave at New Polaris would be uneconomic due to excessively high capital and operating costs - however historical biological oxidation studies on New Polaris mineralization were very positive, and there have been significant advances in both the costs and efficiencies of this technology - we have commissioned Outotec to complete a new BIOX study on New Polaris concentrate– results are expected by year-end and if economic, we plan to update the preliminary economic assessment in 2019 for building a high grade gold mine at New Polaris
Fondaway Canyon – our second core asset is a large, medium grade gold resource, well located with easy road access in Nevada, which is still open for expansion and has district scale potential – SRK was commissioned to complete a three dimensional study of all historic drill results to help identify where to drill to expand the gold resources – results are expected by the end of September, after which a Phase 2 exploration program and budget will be developed for 2019
Windfall Hills – Canarc raised CAD$500,000 in 2017 to explore this highly prospective epithermal gold prospect in central BC – the exploration program will include reconnaissance stream sediment sampling, soil sampling, mapping, prospecting, airborne geophysics and machine trenching to better define existing drill targets and delineate new targets for drilling– the program should start in September after the forest fire risk is reduced– results are expected by the end of November, after which a Phase 2 exploration program and budget will be developed for 2019
Focus on gold in North America
Focus on major deposit types
Focus on low cost, easy entry, drill ready “elephant hunting” projects that have major gold potential
Canarc remains well-funded for the revised corporate goals and strategies
Canarc’s Q2, 2018 financial statements show more than CAD$4 million cash including CAD$400,000 in flow though funds for Windfall Hills, plus about CAD$1.5 million in short term investments
The G&A burn rate is already reduced from earlier this year, with a new focus on spending wisely
We will be updating the website, presentation, fact sheet, investor database
We are developing a communications and marketing plan for 2018-2019 and will start reaching out to shareholders, investors, analysts and the capital markets to rebuild relationships this month
There are several new developments over the next four months to catalyze value for shareholders, including the New Polaris Biox study, Fondaway Canyon 3d study, Windfall Hills exploration program, hiring a new CEO and part-time Director of Investor Relations, and new acquisitions
Commented Bradford Cooke, “We hope this shareholder update reflects the positive new outlook for Canarc Resource Corp. but if you have any questions or comments, please do not hesitate to contact us. We look forward to reporting our progress on several fronts over the coming months.”
Bradford Cooke, CEO (Interim)
CANARC RESOURCE CORP.
About Canarc - Canarc Resource Corp. is a growth-oriented gold exploration company focused on generating superior shareholder returns by discovering, exploring and developing strategic gold deposits in North America. The Company is currently advancing two core assets, each with substantial gold resources, and has initiated a high impact exploration strategy to acquire and explore new properties that have district-scale gold discovery potential. Canarc shares trade on the TSX: CCM and the OTCQX: CRCUF.
Canarc Signs Agreement with Barrick Gold and Skeena Resources on its 33.33% Carried Interest in Claims at the Eskay Creek Gold Mine
Vancouver, Canada – December 20, 2017 – Canarc Resource Corp. (TSX: CCM, OTC-BB: CRCUF, Frankfurt: CAN) has entered into an agreement with Barrick Gold Inc (“Barrick”) and Skeena Resources Ltd. (“Skeena”) involving its 33.3% carried interest in certain mining claims adjacent to the past-producing Eskay Creek Gold mine located in northwest British Columbia.
Canarc and Barrick own respectively 33.33% and 66.67% interests in 6 claims and mining leases totaling 2323 hectares at Eskay Creek. The past producing Eskay Creek Gold mine was the richest gold-silver mine in the world in the 1990’s and produced 3.3 million ounces of gold and 160 million ounces of silver from 2.2 million tonnes of ore during a 14 year mining operation.
Through the recently signed agreement, Canarc will retain its 33.33% carried interest while Barrick’s 66.67% interest will pass to Skeena Resources Ltd when Skeena has met its obligations per the Option Agreement it recently signed with Barrick and announced in its news release of December 18, 2017.
Canarc is pleased to see the renewed interest in this property and will benefit from any future exploration success and development that may occur on these claims.
Canarc Intersects Significant Gold Mineralization in First Three Drill Holes at Fondaway Canyon Project in Nevada, Including 2.83 Grams per Tonne Gold over 65.4 Meters
Vancouver, Canada – December 5, 2017 – Canarc Resource Corp. (TSX: CCM, OTC-BB: CRCUF, Frankfurt: CAN) has intersected significant gold mineralization in the first three drill holes of its seven-hole drill program recently completed at its Fondaway Canyon Project in Nevada. Assays for holes four through seven are pending.
Drilling Highlights Include:
•? 65.4 meters (m) grading 2.83 grams per tonne (gpt) Au (including 10.20 gpt Au over 1.4 m, 7.69 gpt Au over 9.8 m and 7.70 gpt Au over 3.7 m) in hole FC17-3
•? 62.9 m grading 1.77 gpt Au (including 4.39 gpt Au over 3.5 m, 4.48 gpt Au over 3.2 m and 6.15 gpt Au over 3.0 m) in hole FC17-2
•? 30.1 m grading 1.45 gpt Au and 6.1 m grading 3.74 gpt Au (including 0.6 m grading 14.20 gpt Au) in hole FC17-1
* True widths of mineralization are estimated to be about 35% in hole FC17-1 and 90% (FC17-2 and FC17-3) of reported core lengths. True widths estimates are preliminary and are subject to the results of further 3D modeling. Full results are presented in Table 1.
Catalin Kilofliski , CEO of Canarc , stated: "The results of the first three drill holes are very encouraging in terms of the mineralization widths and grade and have significantly extended the depth of the known mineralization. It is becoming clear that Fondaway Canyon offers the potential to develop bulk tonnage gold mineralization suitable for open pit mining.
We tested five separate targets with seven drill holes in this Phase 1 drill program. Drill holes FC17-2 and 3 both successfully extended the Colorado zone mineralization below the previously drilled mineralization. These drill holes also show that the Colorado zone could connect with the adjacent Stibnite zone to the east with more drilling.
The drill program wrapped up last week, the remaining core samples have been cut and shipped, and we expect to release assays for holes 4-7 in early January 2018. At that time, we will begin the evaluation of an open pit mining potential at Fondaway and will prioritize the target zones for a possible Phase 2 drill program next year.”
The Phase 1, seven-hole, 2,534 m drill program tested five widely-spaced target areas along 2.3 km of the 3.8 km-long gold system (Figure 1). Additional figures showing the drilling results are available on the Company’s website at: www.canarc.net.
The broad zones of mineralization intersected in the first three holes extend the previous mineralized zones to depth and, together with previous exploration results, define bulk tonnage mineralization that may be amenable to open pit mining. Previous efforts in the district focused on exploring narrow high-grade zones. Assays are pending on the remaining four holes and should be made available in early January 2018.
Hole FC17-1 (365.8 m, N42 o W/-50 o ) tested the Pack Rat target, where a northeast-striking quartz-vein stock-work and shear zone system had been explored by previous shallow drilling that included hole P-19 with 4.2 gpt Au over 10.7 m and hole TF-296 with 3.1 gpt Au over 18.3 m. Hole FC17-1 tested below these previously drilled holes and intersected several high-grade zones, including 3.74 gpt Au over 6.1 m containing 14.2 gpt Au over 0.6 m. Significantly, the hole bottomed in 30.1 m grading 1.45 gpt in a quartz-vein stock-work within black shale containing very fine-grained "sooty" pyrite at the bottom of the hole. This intersection extends mineralization 200 meters down the dip of the vein system. The Pack Rat zone is open to the northeast and southwest along strike and is at least 225 m long. Mineralization is contained within a steeply-dipping zone about 180 m in width that has now been traced down dip for 375 m and remains open at depth.
Hole FC17-2 (426.7 m, N30 o W/-45 o ) tested the southern part of the Colorado zone 400 m northeast of FC17-1. The Colorado zone lies at the northwest corner of a district-scale dilation zone where the northeast-striking Pack Rat fault zone intersects west-striking mineralized structures and dikes (see the Company's July 5, 2017 news release). Two mineralized sections were intersected. An upper zone from 189.3 to 210.9 m contains 2.33 gpt Au over 9.8 m (including 6.10 gpt Au over 1.5 m and 3.51 gpt Au over 1.8 m) and 2.27gpt Au over 9.8 m (including 7.85 gpt Au over 2.1 m). The highest-grade sample in this upper zone is 11.3 gpt Au over 0.61 m. The lower mineralized zone from 253.1 to 316.1 m contains 62.9 m grading 1.77 gpt Au (including 4.39 gpt Au over 3.5 m, 4.48 gpt Au over 3.2 m and 6.15 gpt Au over 3.0 m).
Hole FC17-3 (373.4 m, N5 o E/-50 o ) was collared 170 m northwest of FC17-2 and tested the northern and shallower part of the Colorado gold zone 100 m up-dip of FC17-2. FC17-3 intersected 65.4 m grading 2.83 gpt Au that is the up-dip continuation of the lower zone in FC17-2. Significant high-grade intersections include 10.20 gpt Au over 1.4 m, 7.69 gpt Au over 9.8 m (with 14.3 gpt Au over 0.6 m and 17.6 gpt Au over 1.4 m), 7.70 gpt Au over 3.7 m (with 11.400 gpt Au over 1.3 m) and 7.062 gpt Au over 1.5 m).
Preliminary modeling indicates that mineralization at Colorado lies within a south-dipping corridor that is approximately 150 m thick and can be traced down dip from surface for approximately 450 m.
Table 1. Gold Samples Composites for Core Holes FC17-1, 2 and 3*
* Composites are calculated at 0.25 gpt cut over at least 2 consecutive samples or 1 gpt over 1 sample; 3 gpt cut in bold is used for higher-grade and internal (included) zones; composites may contain minimal internal waste; assays by Bureau Veritas Minerals (Inspectorate America Corporation) by 30g fire assay with AAS finish, with gravimetric analysis for values exceeding 10 gpt Au; mineralized lengths may not equate to true width.
Figure 1. Fondaway Canyon district showing the distribution of mineralized veins (red lines), surface samples (red dots, >2 gpt Au), mineralized drill hole collars (red triangles) and the Company's 2017 drill holes (blue).
Dr. Jacob Margolis is a qualified person, as defined by National Instrument 43-101, and has approved the technical information in this news release. Dr. Margolis is engaged as a consultant to Canarc Resource Corp as US Exploration Manager.
The Company employs a rigorous QAQC protocol, including insertion of control samples at a rate of 1 per 100 feet of core, or approximately 1 per 22 samples. Control samples include a blank and four gold standards at various grades. Samples were processed by Bureau Veritas Minerals, an ISO-certified lab that meets the requirements of ISO/IEC 17025:2005 and ISO 9001:2015, and employs its own QAQC procedures, including duplicate analyses of core pulps and rejects and insertion of its own standards and blanks. No significant discrepancies were found in the assay results to date.
About Fondaway Canyon
The Fondaway Canyon project consists of 136 leased unpatented mining claims covering 2,220 acres in Churchill County, Nevada, 70 kms northeast of Fallon. A NI-43-101 technical report, completed in April, 2017, prior to the drilling reported here, and available on SEDAR, reported an indicated resource of 2.05 million tonnes grading 6.18 gpt containing 409,000 ounces of gold and an inferred resource of 3.20 million tonnes 6.40 gpt gold containing 660,000 ounces of gold. This estimate does not include all mineralized areas in the project, such as the Pack Rat area tested by hole FC17-1. The project contains a gold-bearing shear-zone system that is at least 3.8 km long and up to 1 km wide.
Canarc Reports Additional High Grade Gold Samples at Fondaway Canyon Project in Nevada, Provides Update on Phase 1 Drill Program
Vancouver, Canada–November 15, 2017 – Canarc Resource Corp. (the "Company") (TSX: CCM, OTC-BB: CRCUF, Frankfurt: CAN) reports that rock-chip sampling at its Fondaway Canyon property, Nevada, has returned additional high-grade gold values exceeding 5 grams per tonne (gpt) in multiple zones.
The Company also reports that it has completed six of the planned seven drill holes in the Phase 1 drill program and expects drilling to wrap up before month end. Assay results for the first three drill holes are also anticipated this month and complete assays for all seven holes are expected in December 2017.
Of the 56 surface rock-chip samples collected since the Company's last report on surface sampling (see news release July 31, 2017), 28 samples exceed 0.5 gpt gold and 8 exceed 6 gpt, ranging from 6 to 42 gpt Au (Table 1). Figure 1 shows the locations of the principal mineralized areas on the project. . The seven-hole, 2700 meter, core drilling program currently underway is targeting Pack Rat (1 hole), Colorado (2 holes), Stibnite (1 holes), South Pit (1 hole) and South Mouth (2 holes) zones.
Table 1 Rock-Chip Samples Exceeding 0.5 gpt Au
Sample Type Area Au (gpt) Width (m)
JM-FC65 Stockpile Reed Pit 42.100 Stockpile Select
JM-FC100 Outcrop Hamburger Hill 11.15 3.0
JM-FC55 Outcrop Colorado 10.750 4.0
JM-FC64 Outcrop North Stibnite 9.986 3.0
JM-FC51 Outcrop Colorado 8.000 2.0
JM-FC84 Outcrop South Mouth 7.931 2.0
JM-FC74 Outcrop Stibnite Boulders 6.028 0.5
JM-FC99 Outcrop Hamburger Hill 6.016 1.0
JM-FC77 Outcrop Stibnite Boulders 3.888 1.0
JM-FC86 Outcrop South Mouth 3.694 2.0
JM-FC60 Outcrop Colorado 3.617 2.0
JM-FC49 Outcrop South Pit 3.330 0.5
JM-FC59 Outcrop Colorado 2.207 0.5
JM-FC70 Outcrop Silica Ridge 2.155 1.0
JM-FC89 Outcrop Mid Realm 2.001 1.0
JM-FC45 Float Stibnite Boulders 1.980 0.3
JM-FC79 Outcrop Silica Ridge 1.719 4.0
JM-FC48 Outcrop South Pit 1.710 1.5
JM-FC90 outcrop Mid Realm 1.388 2.0
JM-FC80 Outcrop Silica Ridge 1.367 2.0
JM-FC88 Outcrop Mid Realm 1.083 ~1.0
JM-FC83 Outcrop South Mouth 0.827 2.0
JM-FC98 Outcrop Silica Ridge 0.679 4.0
JM-FC50 Outcrop Reed Pit 0.658 1.0
JM-FC85 Outcrop South Mouth 0.636 1.0
JM-FC53 Outcrop Colorado 0.559 6.0
JM-FC75 Outcrop Stibnite Boulders 0.553 1.0
JM-FC91 Outcrop South Mouth 0.508 2.0
Figure 1: Principal Mineralized Areas at Fondaway Canyon
Fondaway Canyon District Structural Model
In the Colorado zone where northeast-striking and east-west striking mineralized zones intersect, sample JM-FC55 returned 10.7 gpt Au over 4 meters in bleached, iron-oxide stained shale lacking quartz veins. Another zone of altered shale lacking quartz veins about 150 m from JM-FC55 assayed 3.6 gpt Au over 2 m (JM-FC60). A 2-meter chip sample across a quartz-vein stockwork yielded 8.0gpt Au (JM-FC51); this sample is part of a broader 75-m wide zone of veining. Strongly-altered, iron-stained shale gouge adjacent to quartz veining about 55 m from JM-FC51 assayed 2.2 gpt Au over 0.3 m. On the north side of the Stibnite area, a 3-m chip across a zone of strongly-altered, bleached and iron-stained shale lacking quartz veins returned 9.9 gpt Au (JM-FC64). These sampling results continue to demonstrate that significant gold mineralization can occur in alteration zones lacking quartz veins.
The area of the Reed pit contains magnetite-rich skarn and silicification in marble. JM-FC65, collected from a stockpile from the Reed pit, consists of marble cut by a jasperoid-like silica stockwork. The sample contains 42.1 gpt Au (1.23 ounces per ton). The Company is attempting to locate this mineralization in outcrop. Other samples from the Reed pit area have returned anomalous gold (e.g., JM-FC50 with 0.6 gpt Au in massive magnetite skarn).
Mineralization at Reed is distinct from the rest of the district, and the Company's analysis of the area is on-going.
Continued sampling at the South Mouth pit area has yielded strong gold mineralization beyond the areas mined shallowly (<30 m) by Tenneco Minerals from 1989-1990. High-grade gold occurs in "shear-zone" type veins accompanied by strong alteration in adjacent shale. JM-FC84 assayed 7.9 gpt over 2 m about 50 m on strike from previous mining, and JM-FC86 assayed 3.7 over 2 m about 150 m on strike from previous mining. The sampling continues to identify disseminated gold as well. Sample JM-FC85 returned 0.6 gpt Au over 1 m in hematite-stained shale. Disseminated gold in shale was also found at Mid Realm east of the South Mouth pits; JM-FC89 assayed 2.0 g/t Au over 1 m in bleached, weakly iron-stained shale lacking quartz veins about 100 m east of the old pits.
In the South Pit area, sample JM-FC49 assayed 3.3 gpt over 0.5 m within a broader 25 m wide, northeast-striking vein and alteration zone that also includes JM-FC48 with 1.7 gpt Au over 1.5 m. These samples are 110 m southwest of and along strike with sample JM-FC33 reported previously (15.7 gpt Au over 0.5 m).
Silica Ridge contains a series of en-echelon quartz-vein stockwork zones across 350 m. Historical shallow drilling intersected significant gold, including TF-281 with 1.6 gpt Au over 41.1 m that contains four, 1.5 m samples between 3 and 4 gpt Au. The Company's recent surface sampling yielded 1.7 gpt over 4 m in JM-FC79 and 1.4 gpt over 2 m in JM-FC80. The adjacent Hamburger Hill area contains east-striking shear-zone style quartz veins and bleached/altered zones in shale. A 3-m chip across bleached, weakly iron-stained shale with minor stibnite-bearing quartz veins assayed 11.1 g/t Au (JM-FC100). Sample JM-FC99, 130 m east of JM-FC100, assayed 6.0 g/t Au across 1 m in strongly iron-stained shale with quartz veins. The mineralized zone in this area reaches 35 m in width. Historical drilling intersected significant gold, including 10.0 g/t Au over 10.7 m (with 16.6 g/t over 6.1 m) in hole TF-141, which drilled below the area of sample JM-FC100.
Sampling at Stibnite Boulders returned strong gold values, with 6.0 over 0.5 m (JM-FC74) and 3.9 gpt over 1 m (JM-FC77). A float block of stibnite-rich quartz veining assayed 1.98 gpt Au. The Stibnite Boulder area is located at the southwest corner of the district-scale dilation zone discussed previously but has seen little exploration work. The structural intersections at the corners of the dilation zone mark areas of stronger, broader mineralization and are key exploration targets; the other corners being the Colorado, Stibnite and South Pit areas.
Canarc continues to be encouraged by the positive results from the surface sampling and mapping program which confirm the presence of numerous high-grade mineralized zones across the property. These positive results and results from the past and present drilling programs will be analyzed to define future exploration drilling targets on the property.