Canarc Reviews Results of Airborne Geophysical Surveys Flown Over the Hard Cash Property in Nunavut ____________________________________________________________________________________________________________
Canarc Reviews Results of Airborne Geophysical Surveys Flown Over the
Hard Cash Property in Nunavut
____________________________________________________________________________________________________________
Vancouver, Canada – June 19, 2019 – Canarc Resource Corp. (TSX: CCM, OTC -QB: CRCUF,
Frankfurt: CAN) reviews th e 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, par alleling 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.
Magnetics
The 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 northeast erly across the propert y 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 of high magnetics mapped as metasediments and paragneiss
CANARC RESOURCE CORP .
810-625 Howe Street
Vancouver, BC V6C 2T6
T: 604.685.9700
F: 604.6685 -9744
www.canarc.net
CCM: TSX
CRCUF: OTCQ B
• Domain 2 – broad belt of low magnetics mapped as felsic and mafic metavolcanics
• Domain 3 – narrow belt of high to very high magnetics mapped as mafic metavolcanics
bounded to the south by a major linear interpreted as a major structure or break
• Domain 4 – broad belt of very low to moderate magnetics mapped as mafic and felsic
metavolcanics
• Domain 5 – three irregular ellipsoids with high to very high magnetics mapped as granitic
intrusions
The First Vertical Derivative (FVD, link 2) is used to interpret primary and secondary structures
or breaks and it shows four main linear trends:
• Trend 1 – southwest-northeast (NE) overall trend of lithologies and structures , including a
major break dividing Domain 3 and Domain 4, which marks the northern margin of the main
Swamp high grade gold vein zone
• Trend 2 – west-northwest (WNW) transverse structures, including one main linear feature
which crosses the main Swamp high grade gold vein zone and coincides with the southwest
margin of the granitic intrusion south of the Swamp zone
• Trend 3 – east-west (EW) transverse structures, including one main linear feature which
marks the northern edge of the southwestern ellipsoid and bisects the southern ellipsoid of
Domain 5
• Trend 4 – north-south (NS) transverse structures that mark the western and eastern
margins of the three ellipsoid features of Domain 5, and crosscut the other Domains
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 the major break
that separates the highly magnetic Domain 3 mafic metavolcanics north of the Swamp zone
from the highly magnetic Domain 5 northeastern granitic intrusion south of the Swamp zone.
A prominent WNW transverse linear appears to intersect the major NE break at the Swamp
zone. The Swamp zone, 4600 and Pond showings appear to lie along the margins of a large
rhomboidal magnetic feature defined by intersecting NE and N S linears. The 4600 gold
prospect lies 800 metres (m) southwest of the Swamp zone at the intersection of NS and WNW
structures just south of the main NE break . The Pond gold prospect is located 1.8 kilometres
(km) southwest of the Swamp zone along the main NE break. These two gold vein prospects
may significantly extend the Swamp zone to the southwest.
A secondary linear zone of copper -arsenic-tungsten-gold prospects is situated 3.5 km west of
the Swamp zone along the southern margin of a linear magnetic high marking the contact of
Domain 2 felsic metavolcanics and felsic metavolcanics, also crossed by t he main WNW
structure.
One other magnetic feature worth noting is a 2.5 km long ovoid magnetic low whose core is
marked by a linear of spot magnetic highs located about 6 km west of the Swamp zone within
the Domain 2 felsic metavolcanics. No geological information is known about this feature.
Radiometrics
The total count (TC), uranium (U), thorium (Th) and potassium (K) channels are all
anomalously high over the Domain 1 paragneiss and Domain 5 granitic intrusions and confirm
the magnetic interpretations of these lithologies. Radiometrics may be useful in confirming
intrusions or alteration zones at the local scale identified by more detailed mapping. Elemental
radiation is detected over land and is masked by water and overburden, so given the lakes and
glacial overburden covering much of the property, radiometrics do not provide complete
coverage in interpreting structures.
Ore Deposit Model
The Hard Cash property exhibits many of the characteristics of Archean orogenic gold deposits
(link 3) typical of greenstone belts in Canada and elsewhere. Hard Cash has several geological
characteristics similar to the new Dixie Property discovery (Great Bear Resources) near Red
Lake as well as the operating gold mines of Agnico Eagle (Meliadine and Meadowbank) in
Nunavut. These characteristics include:
Characteristic Hard Cash
Major Greenstone Belt ✓
Metavolcanic Host Rocks ✓
Large Granitic Intrusions ✓
Mafic-Felsic Volcanic Contact ✓
Multi-Phase Deformation ✓
Major Structural Break ✓
Secondary Fault Splays ✓
Tertiary Shear Zones ✓
Quartz-Sericite-Carbonate Alteration ✓
Stacked Quartz-Sulfide Veins ✓
High Grade Gold ✓
Gold Mineralization
At Hard Cash, the main Swamp high grade gold vein zone (link4) has been traced continuously
over 1.3 km and the secondary 4600 and Pond prospects have the potential to extend it by
another 2 km to the southwest. This gold trend is open-ended.
Quartz-sulphide veins at Swamp occur within a 100 -metre-wide quartz-sericite-carbonate
altered shear zone. Historic bedrock chip samples returned grades up to 125 gpt gold and float
samples returned grades up to 174 gpt gold and 1,192 g/t silver.
Historic bedrock grab samples at the 4600 and Pond prospects assayed up to 27.7 gpt and 11.4
gpt gold respectively. Historic float samples from two boulders located over 2 km south and
southwest of the Swamp zone returned grades up to 6.81 gpt (Malachite prospect) and 12.45
gpt (PD2 prospect) gold respectively and a large boulder 450 metres southeast of the Swamp
zone returned a grade of 95.7 gpt gold.
At the Nigel property (part of the Hard Cash property option) located 12 km west of Hard Cash,
two structurally hosted Archean lode gold vein occurrences report historical assays up to 464.9
gpt gold. Confirmatory surface sampling by Silver Range Resources in 2016 returned grab
samples assaying 398 gpt gold and 178 gpt gold from two of these showings.
Canarc considers all of the above assay results to be historical , Canarc's consulting geologist
visited the property for a day in 2018 and sampled similar high-grade gold assays in rock chip
samples including 72.6 gpt gold in float and 14.6 g pt gold in bedrock at the Swamp zone, but
Canarc has not completed sufficient work to independently verify all of these historical results.
Phase 1 Exploration Program
Canarc plans to co mmence a CAD$200,000 Phase 1 exploration program in July to include
reconnaissance prospecting of the Hard Cash propert y and detailed geological mapping,
geochemical rock and soil sampling along the main Swamp high grade gold vein zone and
southwest along the main break for a total of four km (link 5).
The goals of the Phase 1 exploration program are to evaluate the many gold prospects and
related geological and geophysical features on the pr operty, gain a detailed understanding of
the lithological and structural controls o n gold mineralization and define top priority targets
for drilling.
Qualified Person
Dr. Jacob Margolis is a qualified person, as defined by National Instrument 43-101, and has
approved the technical information in this news release. Dr. Margolis is engaged as a consultant
to Canarc Resource Corp as Vice President of Exploration.
"Scott Eldridge”
____________________
Scott Eldridge, Chief Executive Officer
CANARC RESOURCE CORP.
About Canarc - Canarc Resource Corp. is a growth-oriented gold exploration company focused
on generating superior shareholder returns by discovering, exploring and developing strategic
gold deposits in North America. The Company is currently advancing two core assets, each with
substantial gold resources, and has initiated a high impact exploration strategy to acquire and
explore new properties that have district -scale gold discovery potential. Canarc shares trade
on the TSX: CCM and the OTCQ: CRCUF.
For More Information - Please contact:
Scott Eldridge, CEO
Toll Free: 1-877-684-9700 | Tel: (604) 685-9700 | Cell: (604) 722-5381
Email: [email protected] | Website: www.canarc.net
Cautionary Note Regarding Forward-Looking Statements
This news release contains “forward -looking statements” within the meaning of the United States private securities litigation
reform act of 1995 and “ forward-looking information” within the meaning of applicable Canadian securities legislation.
Statements contained in this news release that are not historic facts are forward -looking information that involves known and
unknown risks and uncertainties. Forward-looking statements in this news release include, but are not limited to, statements with
respect to the future performance of Canarc, and the Company's plans and exploration programs for its mineral properties,
including the timing of such plans and programs. In certain cases, forward-looking statements can be identified by the use of words
such as "plans", "has proven", "expects" or "does not expect", "is expected", "potential", "appears", "budget", "scheduled",
"estimates", "forecasts", "at least", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and
phrases or state that certain actions, events or results "may", "could", "would", "should", "might" or "will be taken", "occur" or "be
achieved".
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results,
performance or achievements of the Company to be materially different from any future results, performance or achievements
expressed or implied by the forward -looking statements. Such risks and other factors include, among others, the Company’s
ongoing due diligence review in relation to the Acquisition, risks related to the uncertainties inherent in the estimation of mineral
resources; commodity prices; changes in general economic conditions; market sentiment; currency exchange rates; the Company's
ability to continue as a going concern; the Company's ability to raise funds through equity financings; risks inherent in min eral
exploration; risks related to operations in foreign countries; future prices of metals; failure of equipment or processes to opera te
as anticipated; accidents, labor disputes and other risks of the mining industry; delays in obtaining governmental approvals;
government regulation of mining operations; environmental risks; title disputes or claims; limitations on insurance coverage an d
the timing and possible outcome of litigation. Although the Company has attempted to identify important factors that could affect
the Company and may cause actual actions, events or results to differ materially from those described in forward -looking
statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There
can be no assurance that forward -looking statements will prove to be accurate, as actual results and future events could differ
materially from those anticipated in such statements. Accordingly, do not place undue reliance on forward-looking statements. All
statements are made as of the date of this news release and the Company is under no obligation to update or alter any forward -
looking statements except as required under applicable securities laws.