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Canarc Reviews Results of Airborne Magnetic Survey Flown Over the Princeton Property in British Columbia
VANCOUVER, BC / ACCESSWIRE / August 1, 2019 / Canarc Resource Corp. (TSX:CCM)(OTC-QB:CRCUF)(F...
About this update from Canagold Resources Ltd
[{"type":"text","content":"Canarc Reviews Results of Airborne Magnetic Survey Flown Over the Princeton Property in British ColumbiaVANCOUVER, BC / ACCESSWIRE / August 1, 2019 / Canarc Resource Corp. (TSX:CCM)(OTC-QB:CRCUF)(Frankfurt:CAN) reviews the results of the airborne magnetic geophysical survey flown by Peter E. Walcott and Associates Ltd. late last year over the Princeton Property in BC.The aeromagnetic survey covered an area of about 16 kilometres (km) by 10 km, extending well beyond the known area of gold vein mineralization. The results have clarified the broad geologic setting and identified a structural control on gold mineralization that should help guide the Phase 1 exploration program now underway to identify and prioritize drill targets.Scott Eldridge, Canarc’s CEO, stated: “The new airborne magnetic data for the Princeton project has been very helpful in outlining the key geologic units, identifying intrusive rocks that may be related to mineralization and identifying trends that correlate with the known gold veining. The results provide us with a foundation for continuing to expand on the known vein occurrences. Our current exploration program includes completing a series of trenches which are being mapped and sampled as well as broader geologic reconnaissance”AeroMagneticsThe Reduced to Pole (RTP, Link 1) is used to broadly interpret lithological units and structural linears. It does not show a general structural fabric for the property, but it does show four main domains of magnetic highs or lows and several linear and circular structures.The four main magnetic domains identified on the property can in part be correlated with some of the main rock units shown on the Geological Survey of Canada regional geological map of the area. From north to south, these are:Domain 1 - broad belt of northwest trending high to very high magnetics mapped as Triassic Nicola Group volcanic rocksDomain 2 - broad area of north-south trending irregular magnetic highs and lows mapped as Eocene Princeton Group volcanic rocksDomain 3 - small triangular area of high to very high magnetics mapped as Cretaceous granitic intrusionsDomain 4 - broad belt of low to moderate magnetics containing irregular highs mapped as both Nicola and Princeton volcanicsThe First Vertical Derivative (FVD, Link 2) is used to interpret primary and secondary struct...