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Canarc Resource Corp.
Summary
| Project: | Fondaway Canyon | |
|---|---|---|
| Deposit: | Fondaway Canyon | |
| Location: | United States | |
| Commodities: | Gold | |
| Date: | 12/5/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 5-12-2017: Canarc Resource Corp. announces an Exploration/Drilling Update report for its Fondaway Canyon deposit at the Fondaway Canyon project. Drilling results incl. 65.4m @ 2.93g/t Au from 122.7m. Vancouver, Canada – December 5, 2017 – 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 – December 5, 2017 – Canarc Resource Corp. (TSX: CCM, OTC-BB: CRCUF, Frankfurt: CAN) has intersected significant gold mineralization in the first three drill holes of its seven-hole drill program recently completed at its Fondaway Canyon Project in Nevada. Assays for holes four through seven are pending. Catalin Kilofliski , CEO of Canarc , stated: "The results of the first three drill holes are very encouraging in terms of the mineralization widths and grade and have significantly extended the depth of the known mineralization. It is becoming clear that Fondaway Canyon offers the potential to develop bulk tonnage gold mineralization suitable for open pit mining. We tested five separate targets with seven drill holes in this Phase 1 drill program. Drill holes FC17-2 and 3 both successfully extended the Colorado zone mineralization below the previously drilled mineralization. These drill holes also show that the Colorado zone could connect with the adjacent Stibnite zone to the east with more drilling. The drill program wrapped up last week, the remaining core samples have been cut and shipped, and we expect to release assays for holes 4-7 in early January 2018. At that time, we will begin the evaluation of an open pit mining potential at Fondaway and will prioritize the target zones for a possible Phase 2 drill program next year.” | |
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