News
Canarc Resource Corp. (CCM: TSX and CRCUF: OTC-BB) announces additional deep drilling results that extend the porphyry gold-copper mineralization 200 m further south within the JQA prospect. Drill holes BZ04-47 and BZ04-50 in particular returned economically significant gold grades over bulk-mineable widths along grid lines 20,300 and 20,200. Assays are as follows:
| Hole (No.) | From (m) | To (m) | Length (m) | Gold (gpt) |
| BZ04-47 including |
0.00 0.00 |
237.69 44.20 |
237.69 44.20 |
0.52 0.70 |
| BZ04-48 and and |
0.00 62.48 213.69 |
47.24 81.72 234.18 |
47.24 19.24 20.49 |
0.40 0.32 0.43 |
| BZ04-49 | 0.00 | 7.62 | 7.62 | 0.40 |
| BZ04-50 including |
0.00 0.00 |
169.16 57.64 |
169.16 57.64 |
0.40 0.65 |
Holes BZ04-47, 48 and 49 are located on grid line 20,300 and hole BZ04-50 is situated on line 20,200. These four deep drill holes successfully extend the porphyry gold-copper mineralization at the JQA prospect a further 200 m south of the previously reported holes BZ04-39 to 46, drilled on line 20,400.
As with the previous holes, economically significant gold values start at surface and are intersected over substantial widths in saprolite and bedrock. Less than 20% of the 500 m x 500 m JQA prospect surface area has been tested by deep drilling to date. Therefore, Canarc is now considering adding a second diamond drill to the deep drilling program in order to accelerate the delineation of an initial gold resource at JQA.
The target at JQA is a bulk tonnage, low grade, open pittable gold-copper porphyry deposit that can be profitably mined due to economies of scale. An example would be the geologically analogous, 10 million oz, Boddington gold mine in Australia, currently being developed by Anglogold/ Newmont/ Newcrest.
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, 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.
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.