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Tuesday, 26th September 2006 (3101 views)

Canarc resources has announced that it has intersected gold at its site in Canada.

The New Polaris project is located in north-western British Columbia. A hole from the latest stage of the drilling reportedly intercepted mineralisation grading 23.1 grams per tonne of gold (g/t Au) over 16.5 metres.

In addition to this discovery, three other holes from the site cut across mineralised zones very close to the number one fault at the centre of the 2006 drill grid, expanding the area of the known mineralisation beyond previous estimates.

This latest discovery consisted of a zone made up of disseminated to semi-massive arsenopyrite (quartz-carbonate). The higher-grade core zones found there adhered to C vein system normals.

Other results from the remaining drill holes include 8.3 g/t Au over 6.6 metres and 12.9 g/t Au over 2.75 metres. Canarc will now increase their programme to include ten holes covering 7,000 metres of drilling.

The company also plans to quicken underground dewatering and ramp development work, as well as speeding up mining studies at the site.

 

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