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SHAREHOLDER UPDATE
Benzdorp Property Visit
Vancouver, British Columbia, Canada August 26, 2003
President Bradford Cooke was in Suriname last week and visited
the Benzdorp property for a first-hand view of the Phase 1 drilling
program now underway. The following comments are his impressions
from the site visit.
“On Wednesday, we arrived at Zorg and Hoop (Faith and Hope)
City Airport by 7 AM for an early Cessna flight into Benzdorp
only to be met by several dozen garimpeiros who also were there
for charter flights into the Interior. Clearly, the gold mining
business in Suriname is booming once again.
“After a 30 minute delay due to a torrential downpour, the
skies cleared and 90 minutes later, we touched down at the Tibiki
Island airstrip where we transferred into a dugout canoe (capacity
15) for the 10 minute ride to the Benzdorp landing. Our Canarc
crews were waiting there to pick us up with two ATV’s for
the 20 minute drive into camp. Canarc’s base camp is up
on a hilltop a kilometre away from the main access road to the
Lawa River for a couple of reasons: to capture any evening breezes
that may cool down the jungle and to avoid the garimpeiro traffic
along the Lawa River. We currently have about 20 men in camp (capacity
40) including 6 drillers and drill helpers.
“We immediately took a walk out to the drill which was working
only 200 m from the camp. Michel, the driller/owner/operator,
took a 10 minute break to talk about the rig performance and drilling
conditions. Core recoveries have improved but we are clearly still
losing some gold values in the more heavily fractured and mineralized
quartz stockwork zones in the saprolite. The drill was working
on Hole BZ03-19 and is currently averaging 2 ½ holes per
week. An additional 15 holes are planned in order to complete
the 3000 m Phase 1 program.
“Our review of the drill core was very interesting, because
this is the first time we have seen the JQA porphyry-style mineralization
in bedrock instead of saprolite. As a project geologist Wes Feaver
points out, JQA is quite a “dry” hydrothermal system,
low in quartz and sulphide content, and hosted by heavily fractured,
diorite intrusive rocks. However, the vein and fracture stockwork
is intense, containing ferro-dolomite and quartz in the veinlets
and magnetite, pyrite and chalcopyrite in the veinlets and also
as disseminations in the host rock.
“ It appears that every hole drilled into the JQA prospect
thus far is visually mineralized, many of them from top to bottom.
Assays are unfortunately backed up because both Atomic Absorption
spectrometers at FILAB have broken down. We are told one unit
should be repaired this week and the other replaced by next week.
All in all, the drilling program is now running quite smoothly
and the drill core arrays should make apparent the magnitude of
this Benzdorp gold discovery by Canarc over the coming months.”
On Behalf Of The Board Of Directors
CANARC RESOURCE CORP.
Bradford J. Cooke
President
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.
