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Re: HowdyDoo post# 562

Friday, 04/26/2013 11:21:47 AM

Friday, April 26, 2013 11:21:47 AM

Post# of 1699
You seem to be sort-of correct about a past Barrick connection, but unless you can dig up evidence of a share purchase, they were never shareholders of Canarc. Canarc no longer lists the Eskay Creek property as an asset, so I would assume they may no longer hold any carried interest in Eskay Creek, or have any direct connection with Barrick. Please see below;

Canarc Resource Corp.
Form 20-F

fiscal year ended December 31, 2005

Eskay Creek

Canarc has a one-third carried interest in the Eskay Creek property which is located in the Skeena Mining Division, British Columbia, Canada, pursuant to a joint venture with Barrick Gold Corp. (“Barrick”).  The property is subject to a 2% net smelter return royalty.

In 2003, Barrick, as operator for the Eskay Creek property, sampled a high grade gold mineralised zone and found several altered and mineralised zones in Betty Creek Formation volcanic rocks.  Barrick also carried out IP geophysical surveying on the Eskay Creek property in the 22 zone area along strike to the south of the Eskay Creek mine.  Several chargeability highs were detected with represent untested anomalies within favourable rocks.  Barrick carried out a follow-up exploration mapping and sampling program in these prospect areas in 2004, but did not test these IP anomalies by drilling.  In late 2004, Barrick reported that no further work was recommended in several zones in the property.  However, Canarc’s management believes the untested IP anomalies represent additional exploration potential that should be drilled.

Canarc did not implement any exploration programs for the Eskay Creek property in the 2003 and 2004 fiscal years.  In the 2005 fiscal year, Canarc elected to write-off the associated property costs, but continues to have a one-third carried interest in the Eskay Creek property.



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