Lightning Tree is one of 11 mineral properties in the American Innovative Minerals ('AIM')
Canarc is focused on creating shareholder value by advancing its attractive Canadian gold projects and acquiring new gold properties with exciting discovery potential. The Company is fully funded to drill its district scale
'This transaction allows Canarc to realize value on Lightning Tree while we focus on two upcoming drilling campaigns on our large gold properties in
About the Lightning Tree Property,
The property consists of 4 unpatented claims in section 34 of 08/T20N/R18E, 38 km SW of
The claims lie along the regional, northeast-trending Trans-Challis structural zone and mineral belt adjoining the south side of the Musgrove gold deposit (300k oz Au @ 1.22 g/t Au,
The property contains northwest-striking epithermal quartz-adularia veins along the Meadows fault zone separating the Apple Creek Formation siltstones to northeast from the Challis volcanics to the southwest. Historic gold production during the 1930's and 1940's came from one adit and at least three other workings that are located on the property. Rock-chip samples previously collected across the old workings in 2010 returned high-grade gold assay results, including 15 g/t Au over 1.7 m. There is no evidence of historic drilling on the claims.
About Canarc
Contact:
Tel: (604) 685-9700
Email: scott@canarc.net
Web: www.canarc.net
Cautionary Note Regarding Forward-Looking Statements
This news release contains 'forward-looking statements' within the meaning of
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 mineral exploration; risks related to operations in foreign countries; future prices of metals; failure of equipment or processes to operate 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 and 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.
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