Business
Canarc Shareholder Update on 1st Quarter Activities and 2nd Quarter Plans
VANCOUVER, BC / ACCESSWIRE / April 29, 2020 / Canarc Resource Corp. (TSX:CCM)(OTCQB:CRCUF)(FR...
About this update from Canagold Resources Ltd
[{"type":"text","content":"Canarc Shareholder Update on 1st Quarter Activities and 2nd Quarter PlansVANCOUVER, BC / ACCESSWIRE / April 29, 2020 / Canarc Resource Corp. (TSX:CCM)(OTCQB:CRCUF)(FRA:CAN) provides shareholders this update of its 2020 1st quarter activities and 2nd quarter plans for advancing its gold exploration projects in the USA and Canada.First Quarter 2020 Highlights:Fondaway Canyon: Optioned the Fondaway Canyon and Dixie Comstock properties in Nevada to Getchell Gold for US$4.0 million in staged cash and stock payments, US$1.45 million in exploration expenditures over a 4 year period and a 2% NSRCorral Canyon: Reviewed data and evaluated results of the 2019 diamond drill program at Corral Canyon property in Nevada, the last three drill holes intersected broad alteration zones and narrow quartz veins but no economic interceptsHard Cash: Applied for an exploration permit to conduct a core drilling program at the Hard Cash gold project in Nunavut this summerNew Polaris: Submitted Notice of Work for an exploration permit to conduct a core drilling program at the New Polaris gold project in BC in order to convert Inferred Resources to IndicatedReviewed offers by third parties to option certain gold properties, discussions underwayEvaluated opportunities to acquire new gold projects and partner existing gold projectsSecond Quarter 2020 Outlook:New Polaris: Complete update of project economics at the new, higher gold prices and lower $CAD exchange ratesHard Cash: Complete preparations to conduct a 10-hole, 1500-meter reverse circulation drill program at the Hard Cash property in Nunavut this summerWindfall Hills: Complete preparations to conduct a 5-hole 1500-meter core drill program at the Windfall Hills property in BC this fallContinue discussions to option an existing property out to third partyContinue discussions to acquire a new property with strong gold discovery potentialCanarc management is focused on creating shareholder value by advancing our attractive gold projects and acquiring new gold properties with exciting discovery potential. The Company is fully funded to drill its Hard Cash and Windfall Hills projects this year.Qualified PersonGarry Biles, P.Eng, President & COO for Canarc Resource Corp, is the Qualified Person who reviewed and approved the contents of this news release.\"Scott Eldridge\"Scott Eldridge, Chief Executive...