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Canarc Options Princeton Gold Property in British Columbia, Canada
VANCOUVER, BC / ACCESSWIRE / December 20, 2018 / Canarc Resource Corp. (TSX: CCM, OTCQB: CRC...
About this update from Canagold Resources Ltd
[{"type":"text","content":"Canarc Options Princeton Gold Property in British Columbia, CanadaVANCOUVER, BC / ACCESSWIRE / December 20, 2018 / Canarc Resource Corp. (TSX: CCM, OTCQB: CRCUF, Frankfurt: CAN) announces the signing of an option agreement with Tasca Resources Ltd. (Tasca) and Sydney Wilson to acquire an 80% interest in their 14,650 hectare Princeton Gold property located in southern British Columbia, Canada.Scott Eldridge, Canarc's CEO, stated: \"Canarc is excited to participate in this emerging new high-grade gold discovery located near the Copper Mountain Mine in southern British Columbia. The Princeton gold property represents another high-impact exploration opportunity for Canarc in a mining-friendly jurisdiction. Our immediate goal is to conduct field work to expand the known gold mineralization and identify high priority targets for drilling next year.\"Past Exploration HighlightsCombined 2011 surface sampling and 2018 trenching programs highlights as reported by Tasca include: Quartz vein assaying 217 grams per tonne (gpt) gold over 0.9 meters (m) with a second sample three meters along strike assaying 99.7 gpt gold over 0.9 m. The zone was traced over 120 m along strike beyond which point the overburden depth exceeded the 6 m reach of excavator. Two angular quartz float samples assayed 115.5 gpt gold and 108.5 gpt gold. 38 of 53 in-place or angular float quartz vein samples exceeded 1.0 gpt gold. 24 samples assayed in exceeded 10 gpt gold to a maximum of 217 gpt gold.Canarc considers these results to be historical, it has not completed sufficient work to independently verify these historic results, and therefore they should not be relied upon.Property LocationThe Princeton Gold property consists of 14,650 hectares located 35 kilometers (km) south of Princeton, British Columbia and is readily accessible by road. It lies 85 km south of the new high-grade gold discovery by Westhaven Ventures on their Shovelnose property, and 11 km south of the producing Copper Mountain Mine of Copper Mountain Mining.GeologyThe property is underlain by volcanic rocks of both the Eocene Princeton Group and the Triassic-Jurassic Nicola Group. Recent mapping by the British Columbia Geological Survey and by Tasca geologists suggests the quartz vein gold mineralization is hosted primarily by Princeton volcanics.On surface, quartz veins range from 0.3 to 1.8 m in...