Canagold drills 8.4 metres of 17.1 g/t gold at New Polaris, British Columbia

Canagold Resources Ltd.[CCM-TSX; CRCUF-OTCUF] reported top-quality gold assays for 4 more drill holes from the 24,000- metre, 47- hole drill program at its 100%- owned New Polaris gold job in northwestern British Columbia, situated 100 km south of Atlin and 60 km northeast of Juneau, Alaska.

The focus of the drill program is infill and step-out drilling in the C West Main (CWM) vein system which hosts a huge part of the gold resources at New Polaris. The intercepts reported listed below consist of outcomes for 2 holes that likewise obstructed substantial mineralization in a parallel vein (C10) situated in the hanging-wall of the CWM vein.

Hole 21-1890 E1 converged 17.1 g/t gold over 8.4 metres from 343.0 metres in the C10 Vein and 8.58 g/t gold over 2.1 metres from 442.5 metres in the CWM Vein.

Hole 21-1890 E2 converged 7.25 g/t gold over 4.3 metres from 368.0 metres in the C10 Vein and 25.7 g/t gold over 2.1 metres from 481.7 metres in the CWM Vein.

Hole 21-1859 E1 converged 4.84 g/t gold over 2.2 metres from 393.3 metres in the CWM Vein. Hole 21-1800 E1 converged 8.60 g/t gold over 2.5 metres from 534.6 metres in the CWM Vein.

Scott Eldridge, CEO and director, stated, “Intercepting state-of-the-art gold over robust widths in the C10 vein parallel to the CWM vein was an unforeseen benefit. The C10 vein has actually returned state-of-the-art gold leads to the past, however we have actually not formerly approximated any resources for it. With these brand-new drill outcomes and additional drilling, there is a chance for the C10 vein to include extra resources at New Polaris.

” Additionally, we continue to obstruct state-of-the-art gold leads to every infill drill hole converging the CWM vein. These drill results fall within the PEA mine strategy and increase the density of drilling in the deposit so that we can update presumed resources to suggested resources.”

The infill drill holes continue to obstruct excellent gold grades over mineable widths throughout the CWM vein system and they support the existing resource at depth as anticipated by the geological design. An extra vein, the C10 vein, has actually been converged in the CWM hanging-wall about 90 to 100 metres above the CWM vein and returned top-quality gold over mineable widths in 2 of the holes (21-1890 E1 and 21-1890 E2). 3 holes from previous drill projects by Canagold had actually likewise converged this zone of mineralization, for instance, 13.7 g/t gold over 3.8 metres from 318.6 metres in hole P95 C42

These previous drill intercepts were not integrated into the geological design. More holes of the infill drill program are anticipated to obstruct this parallel vein and an upgraded geological design including all of these intercepts will be made at the end of the drill program.

The program is created mainly to in-fill drill the Inferred Resources of the CWM vein system within the presently specified resources in the PEA. The enhanced drill density will be utilized to update parts of the Inferred Resources to Indicated Resources for addition in a future expediency research study.

Two much deeper expedition holes of around 1,000 metres are being drilled to evaluate in between 200 to 250 metres down plunge of the designed degree to the gold mineralization. These will be the inmost holes drilled on the task to date and the outcomes will serve to assist the style of future drill programs.

The 850- hectares New Polaris home lies within the Taku River Tlingit First Nations standard area. The New Polaris gold deposit traditionally produced roughly 245,000 oz gold from 740,000 tonnes of ore averaging 10.3 g/t gold.