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CORRECTION: Canarc Reviews Results of Airborne Geophysical Surveys Flown Over the Hard Cash Property in Nunavut
This press release replaces the press release disseminated June 19, 2019 at 11:25 AM ET. Thi...
About this update from Canagold Resources Ltd
[{"type":"text","content":"CORRECTION: Canarc Reviews Results of Airborne Geophysical Surveys Flown Over the Hard Cash Property in NunavutThis press release replaces the press release disseminated June 19, 2019 at 11:25 AM ET. This press release includes additional information in the second and third paragraph. The corrected press release is below:VANCOUVER, BC / ACCESSWIRE / June 19, 2019 / Canarc Resource Corp. (TSX: CCM, OTC-QB: CRCUF, Frankfurt: CAN) reviews the results of the airborne magnetic and radiometric geophysical surveys flown by Geotech Airborne Geophysical Surveys late last year over the Hard Cash Property in Nunavut.Scott Eldridge, Canarc CEO commented, \"The new geophysical data has been very helpful in tracing the key structures that appear to control the high grade gold mineralization at Hard Cash. The main Swamp high grade gold vein zone sits within a NE trending, strongly foliated, quartz-sericite-carbonate altered shear zone along a linear magnetic low, paralleling a major NE trending linear magnetic high which transects the entire 8 km length of the property.\"These are classic ingredients for Archean orogenic gold deposits such as Agnico Eagle's Meliadine and Meadowbank deposits now in production in the Rankin greenstone belt some 500 km northeast of Hard Cash, which is located within the Ennadai greenstone belt. We plan to spend CAD$200,000 this summer on geological mapping and geochemical rock and soil sampling to define targets for drilling.\"Geophysical modelling and interpretation were recently completed by Geotech, followed by geological and structural interpretation by company geologists. The results have clarified the broad geological and structural controls on gold mineralization and will help guide the Phase 1 exploration program planned for this summer to identify and prioritize drill targets.MagneticsThe Total Magnetic Intensity (TMI, link 1) is used to broadly interpret lithological units and structural fabric. It shows a strong northeast-striking linear structural fabric that coincides with the strike of the main metavolcanic and metasedimentary units.Five main magnetic domains trend northeasterly across the property and can generally be correlated with the main rock units shown on the Geological Survey of Canada regional geological map of the area. From northwest to southeast, these are:  Domain 1 - broad belt o...