ENP Newswire -
Release date- 27062014 -
Based on previous exploration, Canarc has outlined two gold-silver geochemical soil anomalies coincident with an IP-resistivity anomaly on the property. These anomalies define the initial drill targets for a 'Blackwater' type bulk tonnage, epithermal gold-silver deposit.
Canarc also announces that it has arranged a CA$400,000 non-brokered flow-through equity financing in which certain insiders and shareholders intend to participate. The financing consists of 5 million units (the 'Units') priced at CA$0.08 each. Each Unit will consist of one flow-through common share and one half of one share purchase warrant. Each warrant entitles the holder to purchase one additional non-flow-through share at
The private placement is subject to
Canarc is a growth-oriented, gold exploration and mining company listed on the TSX (CCM) and the OTC-BB (CRCUF). The Company is currently seeking a partner to advance its 1.1 million oz, high grade, underground, New Polaris gold mine project in
Tel: (604) 685-9700
Fax: (604) 685-9744
Cautionary Note Regarding Forward-Looking Statements
This news release contains 'forward-looking statements' within the meaning of
Such forward-looking statements and information herein include, but are not limited to, statements regarding Canarc's future performance, including anticipated acquisitions, exploration, development, production, revenues, cash costs, capital costs, timing and expenditures to develop new mines and mineralized zones, gold grades and recoveries, and the use of the Company's working capital. The Company does not intend to, and does not assume any obligation to update such forward-looking statements or information, other than as required by applicable law.
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