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Canarc Resource Corp.
Summary
| Project: | New Polaris | |
|---|---|---|
| Deposit: | New Polaris | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 5/20/2020 | |
| Report Code: | NI43-101 | |
| Report Type: | PEA | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 20-5-2020: Canarc Resource Corp. announces a PEA report for its New Polaris deposit at the New Polaris project. Updated PEA results incl. post-tax NPV (5%) of US$333M & IRR of 56%. Vancouver, Canada – May 20, 2020 – Canarc Resource Corp. (TSX: CCM, OTC-QB | |
| Resources: | (Resource): 1.687Mt @ 10.8g/t Au (Ind.), 1.483Mt @ 10.2g/t Au (Inf.) | |
| CP/QP: | [Overall Report]: Marc Shulte (Moose Mountain Technical Services) | |
| ABSTRACT: | Vancouver, Canada – May 20, 2020 – Canarc Resource Corp. (TSX: CCM, OTC-QB: CRCUF, Frankfurt: CAN) announces that an update of the gold price and exchange rate within the range of sensitivities in the 2019 preliminary economic assessment (“PEA”) of the highgrade New Polaris gold mine project in northwestern British Columbia significantly improves the anticipated economics of the project. The 2019 PEA used a base case gold price of US$1300 per oz and a $CDN: $US exchange rate of 0.77 to generate an after-tax Net Present Value (“NPV”) of US$216 million and an after-tax Internal Rate of Return (“IRR”) of 38%. At a US$1500 per oz gold price and a 0.71$CAD: USD exchange rate, the forecasted economics significantly improve to a US$333 million after-tax NPV and a 56% after-tax IRR. Other benefits of the lower exchange rate include reductions of the cash operating cost from US$433 per oz gold to US$400 per oz gold, and of the payback period from 2.7 years to 1.9 years. All parameters and conditions of the NI43-101 PEA by Moose Mountain Technical Services (“Moose Mountain”) dated February 28, 2019 PEA remain unchanged | |
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