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Canarc Discovers New High-Grade Gold Prospect, Assaying up to 18.7 g/t, at Its Hard Cash Project, Nunavut, Canada
VANCOUVER, BC / ACCESSWIRE / December 19, 2019 / Canarc Resource Corp. (TSX:CCM)(OTCQB:CR...
About this update from Canagold Resources Ltd
[{"type":"text","content":"Canarc Discovers New High-Grade Gold Prospect, Assaying up to 18.7 g/t, at Its Hard Cash Project, Nunavut, CanadaVANCOUVER, BC / ACCESSWIRE / December 19, 2019 / Canarc Resource Corp. (TSX:CCM)(OTCQB:CRCUF)(Frankfurt:CAN) announces positive results from its 2019 exploration program of geochemical soil and rock sampling and geological mapping on the Hard Cash gold property in the Rankin-Ennadai greenstone belt of southwestern Nunavut.Mapping and sampling identified a new high-grade gold prospect, the Dryland zone, with rock samples assaying up to 18.7 gpt Au. The program also confirmed and expanded the main Swamp zone and the Malachite and Pond gold prospect areas, which lie within long, broad, gold-bearing, quartz-sericite-carbonate, schistose alteration zones marking structural deformation corridors within mafic volcanic rocks.Scott Eldridge, Canarc CEO, stated: \"Our exploration program this year successfully discovered the new, high grade Dryland gold prospect and expanded and refined the main Swamp gold trend, as well as deepening our understanding of the broad controls on gold mineralization. We look forward to drill testing of our highest priority targets at Hard Cash in the summer of 2020\".The new Dryland gold zone consists of gold bearing, sulfide-quartz veins within quartz-sericite-carbonate altered mafic volcanic rocks along a 400m long trend where 10 of the 20 rock-chip samples exceeded 3 gpt Au. A sample of quartz-vein float on trend 400m to the southwest assayed 20 gpt Au and indicates the zone may exceed 800 m in length.Like the Swamp zone, the Dryland zone corresponds with a sharp northeast-trending break in the airborne magnetic data indicating it may lie along a significant structure. Dryland may be part of a much longer trend (~2.4 km) connecting Dryland with the Malachite zone (Figure 1). The discovery of Dryland illustrates the early-stage exploration level of the project and the potential to discover new high-grade mineralization through focused field work.New rock sampling yielded assays up to 13.9 gpt Au at the Swamp zone, 15.9 gpt Au at Malachite and 1.5 gpt Au at the Pond zone. Multi-element (gold, silver, tungsten, antimony, copper, bismuth) anomalies in the 2019 district-scale soil survey extended known gold-mineralized areas, including a possible link between the Dryland and Malachite zones where the...