News
Canarc Resource Corp. (CCM: TSX and CRCUF: OTC-BB) announces that the Phase 2 deep drilling results on the Benzdorp property in Suriname continue to confirm porphyry gold-copper mineralization over at least a 300m width at the JQA prospect. Drill holes BZ04-45 and 46 in particular returned economically significant gold grades over bulk-mineable widths along grid Line 20,400. Assays are as follows:
| Hole (No.) | From (m) | To (m) | Length (m) | Gold (gpt) |
| BZ04-41* |
0.00 |
59.44 |
59.44 |
0.45 |
| BZ04-42 |
0.00 0.00 |
400.81 120.40 |
400.81 120.40 |
0.48 1.14 |
| BZ04-43** and |
0.00 132.59 |
45.72 160.02 |
45.72 27.43 |
0.52 0.54 |
| BZ04-45 Including and |
0.00 0.00 0.00 |
315.47 24.38 185.56 |
315.47 24.38 185.56 |
0.45 1.01 0.53 |
| BZ04-46 Including |
0.00 0.00 |
125.33 45.72 |
125.33 45.72 |
0.41 0.64 |
Hole BZ04-41* was drilled near the east end of Line 20,400 and effectively represents the top portion of hole BZ04-44. It was drilled to 85m depth but had to be abandoned due to difficult ground conditions so hole 44 was collared behind it and reamed down to 125m before core drilling could be restarted. About a 40m interval of mineralization remains untested between the two holes. Sparse mineralization was intersected below 125m in hole 44, reflecting the eastern margin of the JQA prospect.
Hole BZ04-42 (previously reported) intersected an extensive stockwork zone of quartz-chlorite veinlets carrying magnetite, pyrite and chalcopyrite with minor molybdenite and related potassic and propylitic alteration. Hole BZ04-43** was drilled perpendicular (N20ºE) to the planned orientation (N90ºW) in error and so paralleled the mineralized zone, rather than crossing it. The reported assays are therefore not considered representative.
Hole BZ04-45 was drilled 100m west of hole 42 and is well-mineralized from top to bottom, very similar to hole 42. Hole BZ04-46, located 200m west of hole 42, was also well-mineralized to 125m depth before exiting the mineralization at depth. However, holes BZ03-18 and 20, located another 200m west, intersected 0.57 gpt gold over 67.8m and 0.28 gpt gold over 30.48m respectively during the Phase 1 drilling program last year, indicating that good porphyry gold mineralization picks up again further to the west.
The primary target at the JQA prospect is a 500m x 500m zone continuously mineralized on surface and averaging about 0.6 gpt gold in 5 large bulldozer trenches and 12 shallow drill holes. This porphyry stockwork mineralization is still open in several directions and has geological similarities to the 10 million oz Boddington gold mine currently being developed by Anglogold/ Newmont/ Newcrest in Australia.
The initial goal of the Phase 2 drill program now underway is to extend the surface mineralization to a 300m depth over the 500m x 500m area in order to estimate an initial gold resource. Canarc has identified 12 gold prospects requiring further exploration work on the easternmost 5% of the 138,000 hectare Benzdorp property.
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.