Announcement Date: 2021-11-30
Announcement Type: Drilling Results
Announcement Code: NI43-101
Company name: Canagold Resources Ltd.
Project name: New Polaris
Location: Canada
Commodities: Gold
Highlight: Drilling results incl. 17.8m @ 11.1g/t Au from 380.9m
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: Vancouver, Canada – November 30, 2021 – Canagold Resources Ltd. (TSX: CCM, OTC-QB: CRCUF, Frankfurt: CANA) summarizes the expanding number of high-grade drill intercepts that define two hanging-wall veins, the C-9 and C-10 Veins, which are separate from the C-West Main Vein (“CWM”). Most of the current gold resources are located in the CWM Vein so the recent drilling in the C-9 and C-10 Veins should help expand the current gold resources. The Company’s on-going 24,000 meter (m), 47 hole drill program is progressing well at its 100% owned New Polaris Gold project located in northwestern British Columbia, 100 kilometers (km) south of Atlin and 60 km northeast of Juneau, Alaska. Drilling is expected to be completed by year-end and assays are anticipated monthly but final assays could take until late March due to the backlog of samples at all commercial laboratories in Canada. Several drill holes of this infill drill program have returned significant intercepts of gold mineralization in two hanging-wall veins of the CWM Vein system. Combined with holes previously drilled in 1995 and 2006, the number of intercepts to date include nine in the C-9 vein and thirteen in the C-10 vein. Highlights of the intercepts are shown in Table 1 below. All the drill hole collar information is provided in Table 2 and the mineralized intercepts from both veins in Table 3.
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