Business
Canarc to Commence 1,500 Meter Drill Program at Windfall Hills Project, BC; Director Resignation
VANCOUVER, BC / ACCESSWIRE / July 14, 2020 / Canarc Resource Corp. (TSX:CCM)(OTCQB:CRCUF)(FRA...
About this update from Canagold Resources Ltd
[{"type":"text","content":"Canarc to Commence 1,500 Meter Drill Program at Windfall Hills Project, BC; Director ResignationVANCOUVER, BC / ACCESSWIRE / July 14, 2020 / Canarc Resource Corp. (TSX:CCM)(OTCQB:CRCUF)(FRA:CAN), announces that a Phase-2 core drilling program of 1,500 meters in six holes will commence on or about July 20th at its 100%-owned Windfall Hills gold property located in north-central British Columbia.Highlights from the Phase 1, 3-hole drill program conducted in 2014 included a drill intercept of 1.38 grams per tonne (gpt) gold equivalent (AuEq) over 28.0 meters (m). Exploration work since 2014 focused on detailed geological mapping, geochemical sampling and geophysical surveying to better define the main target over a 1.5 kilometer (km) by 1.5 km area. The principal target and planned drill holes are shown on Figure 1.Scott Eldridge, Canarc's CEO, stated: \"We are pleased to announce the commencement of a Phase-2 drill program at Windfall Hills to follow up on the encouraging Phase 1 drill results. Subsequent exploration work helped to delineate a much larger primary target. Our Phase 2 drill program will test for bulk tonnage, epithermal gold-silver mineralization, similar to the Blackwater Davidson deposit located in the same geological belt as Windfall Hills.\"\"We put a coronavirus prevention and response plan in place for this Phase 2 drill program in order to ensure a safe working environment as our top priority, including but not limited to social distancing and extra sanitation to protect our employees, contractors, residents in nearby communities and other stakeholders.\"LocationThe Windfall Hills property is located 60 kilometers south of Burns Lake within a belt of Late Cretaceous to Early Tertiary volcanic rocks hosting epithermal Au-Ag deposits that includes the 9.6 million-ounce Blackwater-Davidson gold-silver project located 90 km southeast of Windfall Hills. Artemis Gold recently announced a $190 million purchase of Blackwater Davidson from Newgold.Phase 1 Drill ResultsA Phase 1, 3-hole, 1,149-meter diamond drill program was conducted at Windfall Hills by Canarc in 2014 and returned gold mineralization in all 3 holes (Table 1). Gold mineralization is disseminated within strongly clay altered and silicified volcanic rocks of the Eocene Ootsa Lake Group. Hole WH-14-03 intersected 28 meters grading 0.89 gpt gold and 39 gp...