News
Canarc Resource Corp. (CCM: TSX and CRCUF: OTC-BB) announces that the deep drilling program on the Benzdorp property in Suriname has intersected significant copper values within the JQA gold porphyry zone of mineralization. Even though copper is leached out of the saprolite in the top 50 to 100 m at Benzdorp, economically prospective copper grades were intersected over bulk mineable widths in the underlying bedrock, as follows:
| Hole (No.) | From (m) | To (m) | Length (m) | Copper (%) |
| BZ04-42 | 114.30 260.60 |
156.97 298.71 |
42.67 38.11 |
0.13 0.10 |
| BZ04-43 | 36.58 57.91 132.59 |
45.72 76.20 160.02 |
9.14 18.29 27.43 |
0.19 0.11 0.19 |
| BZ04-45 | 79.25 163.93 216.03 |
156.43 202.93 315.47 |
77.18 39.00 99.44 |
0.12 0.11 0.11 |
| BZ04-47 | 55.06 135.75 |
124.60 269.75 |
69.54 134.00 |
0.16 0.13 |
| BZ04-48 | 105.66 213.69 |
169.66 250.59 |
64.00 36.90 |
0.11 0.10 |
| BZ04-50 Including: |
50.29 50.29 |
274.29 68.58 |
224.00 18.29 |
0.10 0.29 |
These copper intersections are hosted by quartz stockworks confirming the porphyry nature of gold-copper mineralization at the JQA prospect. JQA displays distinct similarities to the 10 million oz. Boddington porphyry gold-copper deposit (400 million tonnes grading 0.8 gpt gold and 0.12% copper) now being developed by Newmont/Anglogold/Newcrest in western Australia.
The JQA prospect is just one of twelve gold prospect areas identified by Canarc along the easternmost 10% of the 138,000 hectare Benzdorp property. Every creek draining this +10 km long portion of the Benzdorp gold belt has been mined for gold, indicating that more gold prospect areas are likely to be found in the surrounding hills.
Godfrey Walton, M.Sc, P.Geo., is the Qualified Person supervising the Phase 2 drilling program on the Benzdorp property. He has instituted a Quality Control sampling program of blanks and duplicates to monitor the integrity of all assay results. All drill core is split by Canarc personnel at the Benzdorp camp and then flown to the Inspectorate-affiliated commercial laboratory in Paramaribo, Suriname. Core samples are dried, crushed and split, and a 30 gram sub sample is taken for analysis. Gold is determined by fire assay with an atomic absorption (AA) finish. Copper is also measured by AA. Selected samples are sent to Chemex laboratories in Vancouver, BC, as an additional quality assurance check.
Over the past few months, Canarc has received expressions of interest from several senior gold companies regarding Benzdorp. The Company intends to assess these expressions of interest with a view to enhancing shareholder value.
Canarc also announces that Anthony Low-Beer has resigned as an Advisor to the Board of Directors.
On Behalf of the Board of Directors
CANARC RESOURCE CORP.
/s/ “Bradford J. Cooke”
Bradford J. Cooke
President and C.E.O.
Canarc Resource Corp. is a growth-oriented, gold exploration and mining company listed on the TSX (symbol CCM) and the OTC-BB (symbol CRCUF). The Company's principal assets are its 100% interest in the 1.3 million oz. (Not NI43-101 Compliant) New Polaris gold deposit located in northwestern British Columbia and its option on the huge Benzdorp gold property in Suriname. Major shareholders include Barrick Gold Corp. and Kinross Gold Corp.
For more information, please contact Gregg Wilson at tel: (604) 685-9700, fax: (604) 685-9744, email [email protected] or visit our website, www.canarc.net. The TSX Exchange has neither approved nor disapproved the contents of this news release.