IP Geophysical Survey Identifies Four Exploration Targets at Canarc’s Windfall Hills Property in Central BC
Vancouver, Canada – November 28, 2016 – Canarc Resource Corp. (TSX: CCM, OTC-BB: CRCUF, Frankfurt: CAN) announces that a Volterra 3D Induced Polarization ( 3DIP ) survey recently completed at its Windfall Hills property in central BC was successful in identifying four geophysical anomalies, each with the potential to host epithermal gold mineralization. The Windfall Hills gold property is located 65 kilometers (km) south of Burns Lake and 90 km northwest of New Gold’s 10 million oz Blackwater-Davidson gold discovery.
The four geophysical anomalies cover areas of coincidental high resistivity and chargeability. One of the anomalies is adjacent to two diamond drill holes completed on the property in 2014 that intersected a broad zone of epithermal gold-silver mineralization, including a 28 m core length intercept grading 1.54 grams per tonne (gpt) gold equivalent (AuEq) (0.89 g/t Au & 39 g/t Ag) in hole WH-14-03 (silver:gold ratio 60:1). These two holes only tested the edge of the geophysical anomaly identified at this location.
Canarc is very encouraged by these positive geophysical results, not only because they define a much larger target area adjacent to the previously drilled mineralization but also because they outline three other high priority anomalies for future drilling. Management will now develop plans and permits for a Phase 2 drill program at Windfall Hill for next summer.
The 3DIP survey conducted by SJ Geophysics of Delta, BC in September 2016 covered an area of 3.8 km2, about 10% of the Windfall Hills property, was surveyed at 100 m intervals on 200 m spaced line to a depth of 350 meters below surface. A smaller infill grid at 50 m intervals on 100 m spaced lines was completed for greater detail in one area that showed strong conductivity and resistivity responses. The field data were inverted utilizing the UBC-GIF inversion method to develop the models for the resistivity and chargeability properties of this survey.
The main exploration targets on the property are low sulphidation epithermal, disseminated and stockwork gold-silver deposits associated with Tertiary rhyolite volcanic centers, similar to the nearby Blackwater-Davidson gold discovery. These deposits are characterized by pervasive, multiple phases of silica, pyrite and argillic alteration.
Gold mineralization is associated with quartz stock-works and alteration zones of silica, pyrite, K-feldspar, sericite and clay. Anomalous gold, silver, and arsenic values appear to be associated with areas of more intense multi-stage silicification and brecciation.
Garry Biles, P. Eng, President & COO for Canarc Resource Corp, is the Qualified Person who reviewed and approved the contents of this news release.
Catalin Chiloflischi, CEO
CANARC RESOURCE CORP.
About Canarc Resource Corp. - Canarc is a growth-oriented, gold exploration and mining Company listed on the TSX (CCM) and the OTC-BB (CRCUF). The Company is currently focused on acquiring operating or pre-production stage gold-silver-copper mines or properties in the Americas and further advancing its gold properties in north and central BC.
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