| Announcement Date: | 2022-07-12 |
|---|---|
| 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. 25.1m @ 13.6g/t Au from 362.1m |
| Resources: | only available to subscribers |
| CP/QP: | only available to subscribers |
| Announcement summary: | Vancouver, Canada – July 12, 2022 – Canagold Resources Ltd. (TSX: CCM, OTC-QB: CRCUF, Frankfurt: CANA) summarizesthe results of the recently completed infill 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 2021-22 infill drill program was designed primarily to in-fill drill the Inferred Resources of the CWM vein system within the currently defined resources in the PEA*. The infill drill holes range in depth from 300 to 650 m and are designed to provide greater density of drill intercepts (20 – 25 m spacing) in areas of Inferred Resources between 150 and 600 m below surface. The improved drill density will be used to upgrade parts of the Inferred Resources to Indicated Resources for inclusion in a future feasibility study. The infill drill program was completed by the end of February 2022 for a total of 30,000 m in 54 drill holes. Assay results have now been received for all 52 holes in which sampling was undertaken. The samples collected from the mineralized zone in all of those holes were submitted to the ALS Geochemistry lab in Whitehorse, YT for gold analysis. No samples were taken from the two abandoned drill holes. Drilling equipment is being stored on site ready for the start of the next drilling campaign in the summer of 2022. |
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