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Canarc Resource Corp.
Summary
| Project: | Fondaway Canyon | |
|---|---|---|
| Deposit: | Fondaway Canyon | |
| Location: | United States | |
| Commodities: | Gold | |
| Date: | 1/16/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 16-1-2018: Canarc Resource Corp. announces an Exploration/Drilling Update report for its Fondaway Canyon deposit at the Fondaway Canyon project. Drilling results incl. 12.8m @ 3.48g/t Au from 345.3m. Vancouver, Canada – January 16, 2018 – Canarc Resource | |
| Resources: | (Resource): 2.05Mt @ 6.18g/t Au (Ind.) and 3.20Mt @ 6.4g/t Au (Inf.) at project | |
| CP/QP: | [Overall Report]: Jacob Margolis (Internal) | |
| ABSTRACT: | Vancouver, Canada – January 16, 2018 – Canarc Resource Corp. (TSX: CCM, OTC-BB: CRCUF, Frankfurt: CAN) is pleased to report results from the final four holes of its seven-hole drilling program completed in late 2017 at its Fondaway Canyon Project in Nevada. Assays for the first three holes were released on December 5, 2017. All holes in the drill program intersected gold mineralization. Catalin Kilofliski , CEO of Canarc , stated: "The results of our last four holes continue to provide encouragement for Fondaway Canyon. Mineralization in the three areas tested by these holes has been significantly extended to depth and along strike. For example, FC17-5 has extended high-grade (>3 gpt Au) mineralization about 100 m along strike within a broad northeast-striking mineralized corridor that contains FC17-4 400 m to the northeast. This corridor is open to the southwest and has not been tested to depth over much of its strike length of at least 700 m. We were also successful in extending high-grade mineralization to depth in the South Mouth area with hole FC17-7. Our 3D analysis and geological review is on-going and will assist in developing an exploration action plan and next steps for 2018. ” The Phase 1, seven-hole, 2,534 m drill program tested five widely-spaced target areas along 2.3 km of the 3.8 km-long gold system (Figure 1). Additional figures showing the drilling results are available on the Company’s website at: www.canarc.net | |
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