Canarc Stakes Two More Gold Properties in Central British Columbia
May 31, 2011
Vancouver, Canada – May 31, 2011 – Canarc Resource Corp. (TSX: CCM, OTC-BB: CRCUF, Frankfurt: CAN) announces that it has staked two more gold properties located northeast of Canarc’s recently acquired Windfall Hills properties, south of Burns Lake and northwest of Richfield Ventures’ Blackwater gold discovery in central BC.
The 2,345 hectare Devil East property is contiguous with and immediately east of Canarc’s recently staked Devil’s Thumb property and the 960 hectare Windfall East property lies 20 km east of the recently optioned Windfall Hills properties.
Both new properties are situated within the same geological belt of Tertiary volcanic rocks as Richfield Ventures recent Blackwater-Davidson gold discovery. Richfield is currently the subject of a friendly take-over bid by New Gold for $10.38 per share, valuing the company and the discovery at more than $550 million.
The staking targeted geochemical anomalies within the favorable Ootsa Lake Group rhyolitic volcanic rocks where they are cut by northeast and northwest-trending structures, similar to the Blackwater-Davidson gold discovery. All four properties are accessible via gravel logging roads so property exploration should be rapid and cost-effective.
James Moors, B.Sc., P.Geo, Vice President, Exploration for Canarc, is the Qualified Person who reviewed the historic data and approved this news release.
Canarc Resource Corp.
“Bradford J. Cooke”
Chairman and CEO
About Canarc Resource Corp. - Canarc Resource is a growth-oriented, gold exploration company listed on the TSX (CCM) and the OTC-BB (CRCUF). The Company is currently focused on exploring its four gold properties in central BC and the Tay LP gold property in the Yukon Territory. Canarc is also seeking a partner to advance its 1.1 million oz, high grade, underground, New Polaris gold mine project in British Columbia to the feasibility stage.