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Canarc Resource Corp.
Summary
| Project: | New Polaris | |
|---|---|---|
| Deposit: | New Polaris | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 3/4/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | PEA | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 4-3-2019: Canarc Resource Corp. announces a PEA report for its New Polaris deposit at the New Polaris project. Updated PEA results incl. post-tax NPV of CA $280M (5%), IRR of 38%, 8.7yr LOM at the project. Vancouver, Canada – March 4, 2019 – Canarc Resour | |
| Resources: | (Resource): 1.686Mt @ 10.8g/t Au (Ind.), 1.483Mt @ 10.2g/t Au (Inf.) | |
| CP/QP: | [Overall Report]: Marc Shulte (Internal) | |
| ABSTRACT: | Vancouver, Canada – March 4, 2019 – Canarc Resource Corp. (TSX: CCM, OTC-BB: CRCUF, Frankfurt: CAN) announces the completion of an updated NI 43-101 preliminary economic assessment report (“PEA”) by Moose Mountain Technical Services (Moose Mountain”) for the past producing, high-grade New Polaris gold mine project in northwestern British Columbia. Scott Eldridge, Canarc’s CEO, stated: “This new PEA establishes significantly improved economics for our New Polaris gold mine project, demonstrating the potential for a highmargin, low-cost gold mine. The new study incorporates an onsite flotation, bio-oxidation and CIL leaching facility to produce doré gold bars, a game-changing modification that offers substantial operational and financial advantages over the previous production plan of shipping flotation concentrates by barge and truck to offshore facilities for final processing. We can now model New Polaris as a fly-in, fly-out mining operation.” The estimated project economics for Canarc to build and operate a 750 tonne per day gold mine at New Polaris using bio-oxidation followed by a leaching process to produce 80,000 ounces of gold per year in doré bars at site are reasonably achievable for this project. This new processing option significantly enhances the economics of the project and simplifies transportation logistics at this remote site by eliminating the need for seasonal barging of large quantities of concentrate along the Taku River to a third-party treatment facility. | |
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