Hi Graham,
To add to the BLO hysteria (yeah, I wish!), Canarc put out a very good release its property in Surinam close to BLO (I think right next door!). Here's the release...
NEWS RELEASE TRANSMITTED BY CANADIAN CORPORATE NEWS
FOR: CANARC RESOURCE CORP.
FRANKFURT: Third Market Segment: CAN BERLIN OTC : CAN
TSE, VSE SYMBOL: CCM
OTC Bulletin Board SYMBOL: CRCUF
APRIL 24, 1997
Canarc - Drilling Intersects High Grade Gold
Mineralization at Sara Kreek, Sampling Extends Anomalous
Gold Trend for Seven Kilometres
VANCOUVER, BRITISH COLUMBIA--Canarc Resource Corp. announces that
a Phase 2 diamond drilling program has intersected high grade gold
mineralization in two separate gold prospect areas on the Sara
Kreek property in Suriname.
Highlights of the recent drilling include intercepts such as 6.96
gpt (5.75 gpt cut) over 13.47 m. in hole EB9705, 2.89 gpt over
16.57 m. in hole DP9701, 3.41 gpt over 6.12 m. in hole DP9702 and
12.69 gpt (12.12 gpt cut) over 3.67 m. in hole DP9707.
The drilling identified a principle gold mineralized shear zone,
as well as several parallel zones, over a 200 m. length in the
Breakfast prospect (EB) and 150 m. of strike in the Parbo prospect
(DP).
The two prospects, Breakfast and Parbo, lie along a strongly
anomalous, north-northwest oriented gold trend that was recently
extended by stream sediment pan concentrate and soil sampling
anomalies for a total of seven kilometres north-south to include a
third gold prospect area known as Kami (KK).
There is some uncertainty regarding the orientation of the Parbo
prospect as both east-west and north-south mineralized shears were
exposed in previous trenching. Two very high grade assay
intervals, in holes EB9705 and DP9707, were cut back to 30 gpt, as
per industry norms.
Drill cores are cut with either a knife (in saprolite) or a rock
saw (in bedrock) on site, one split is bagged in maximum intervals
of 1.52 m. and shipped to a certified, Canadian-owned commercial
assay lab, Cantech Services, in Paramaribo, Suriname. Cantech
dries, crushes, rolls, splits and pulverizes each sample, followed
by conventional fire assay with an AA finish. Canarc stores the
other half of the split cores in boxes on site. Details of
Canarc's sample collection, handling, preparation, assay and
storage procedures are available on request.
"The latest drill and sample results from Sara Kreek confirm the
discovery of a major gold mineralized shear system. Further
drilling is needed to establish a geological resource by year-end.
However, to date, the length, width and grade of the principle
gold zone confirms the potential for a million ounce plus gold
target," stated Godfrey Walton, Exploration Manager for Canarc.
Bulldozer trenching is now underway to expose and extend the
principle gold mineralized zone in saprolite prior to further
drilling. Additional soil sampling and deep augering are also
being completed in the Kami and Parrot gold prospect areas to
establish trench and drill targets.
The drill results are outlined as follows; as well as previous
drill holes from 1995:
/T/
PROSPECT ZONE HOLE FROM TO INTERSECTED GOLD
WIDTH GRADE
(no) (m) (m) (m) (gpt)
Breakfast Principle EB9703 57.71 59.44 1.73 2.06
Zone EB9705 6.20 19.67 13.47 6.96
(5.75)
cut
incl. 7.31 13.25 7.05 11.66
EB9504 21.33 30.47 9.14 4.98
and 44.19 47.24 3.05 3.35
25.91 27.43 1.52 7.62
EB9505 149.63 156.97 7.34 5.00
Parallel EB9701 36.58 39.55 2.97 1.05
Zones 48.77 54.86 6.09 0.95
EB9701A 21.21 29.23 8.02 0.73
43.11 48.77 5.66 1.58
EB9702 6.10 9.14 3.04 0.77
67.06 68.58 1.52 2.16
EB9704 25.29 26.78 1.49 1.68
EB9501 101.58 115.82 14.24 0.84
EB9505 3.04 12.19 9.15 0.92
64.00 68.95 4.95 1.26
EB9507 35.06 40.42 5.36 1.80
Parbo Principle DP9701 20.01 36.58 16.57 2.89
Zone? incl. 32.00 36.58 4.58 5.58
DP9503 1.52 12.19 10.67 5.94
and 25.91 27.43 1.52 7.62
Parallel DP9702 3.66 4.40 0.74 3.73
Zones? 17.11 19.20 2.09 2.04
23.54 29.66 6.12 3.41
DP9705 36.13 36.58 0.45 5.42
DP9706 39.62 42.03 2.41 4.31
DP9707 20.93 42.03 2.77 6.68
29.86 33.53 3.67 12.69
(12.12)
cut
DP9502 23.58 32.34 8.76 1.31
/T/
Canarc Resource Corp. is a growth-oriented, international gold
exploration and mining company with active projects worldwide.
Major shareholders include Barrick Gold Corp. and Echo Bay Mines
Ltd. The Company's common shares trade under the symbol "CCM" on
the Toronto Stock Exchange as well as on the following exchanges:
Vancouver: Vista-CCM, Frankfurt: Third Market Segment-CAN, Berlin:
Over the Counter-CAN, NASD: Electronic Bulletin Board-CRCUF.
ON BEHALF OF THE BOARD OF DIRECTORS
CANARC RESOURCE CORP.
Bradford J. Cooke, President
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The way I figure it, both Canarc and Guyanors successes will continue to bode well for us. Seven KM aint bad!!
Cheers,
Chris A. |
