Announcement Date: 2022-03-21
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. 12.5m @ 4.1g/t Au from 549.3m
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: Vancouver, Canada – March 21, 2022 – Canagold Resources Ltd. (TSX: CCM, OTC-QB: CRCUF, Frankfurt: CANA) announces high-grade gold assays for five more drill holes from the expanded drill program 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. The assay results include samples from recently completed drilling of additional intercepts of the C-10 vein (“C-10”) as well as the C-West Main vein (“CWM”) Detailed information for the five drill holes including the sample gold assay results and mineralized intercepts with true widths calculated for the CWM are provided in Table 1 and Table 2 below. These additional intercepts of the C-10 vein have expanded the size of the interpreted C-10 geological model by 500% since the last reported results. Drill holes 21-1875E2 and 21-1935E1 infilled the area to the east and down dip of the previously defined limits to the C-10 allowing for interpolation of the model to include mineralized intercepts from previously drilled holes including Four more drill holes completed during the program still have results pending that could extend the C-10 vein further. All of the planned 47-holes of the originally proposed 24,000 m infill drill program were completed by the end of 2021 and assay results have been received for 37 holes. An additional 6,000 meters of drilling in 7 holes were completed in January and February 2022.
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