GOLD: $1744.83
TSX: CCM $0.49
OTC: CRCUF $0.39

Princeton Property

Property Overview

Princeton Gold Property consists of 14,650 hectares and lies 35 kilometers south of Princeton, British Columbia and is readily accessible by road. It lies 95 km south of the new high grade gold discovery by Westhaven Ventures on their Shovelnose property, and 11 km south of the producing Copper Mountain Mine of Copper Mountain Mining.

Property Map

Geology

The property is underlain by volcanic rocks of both the Eocene Princeton Group and the Triassic-Jurassic Nicola Group. Recent mapping by the British Columbia Geological Survey and by Tasca geologists suggests the quartz vein gold mineralization is hosted primarily by Princeton volcanics.

Surface quartz veins range from 0.3 to 1.8 m in width and consist of white quartz with limonite fractures, irregular limonitic patches and rare vuggy textures.

Past Exploration Highlights

Combined 2010 and 2011 surface sampling and 2018 trenching programs highlights as reported by Tasca include:

Canarc considers these results to be historical, it has not completed sufficient work to independently verify these historic results, and therefore they should not be relied upon and also cautions investors that float samples are grab samples and may not be representative of mineralization on the Princeton Property.

Claim Map

Claim Map

Early Area 2 Sampling

Early Area 2 Sampling

Area 2 Samples

The Area 2 samples were collected from three separate locations consisting of angular float, sub crop or outcrop of rusty weathered, limonite stained quartz with trace to 5% very fine grained disseminated pyrite. Several of the samples exhibit remnant vugs or cellular boxwork structure. A 2011 grid soil sampling survey indicates Area 2 hosts multiple, linear, parallel gold-in-soil anomalies with the strongest anomaly striking a minimum of 500 metres to a maximum of 650 metres in a northwestern direction.

September 2018 Trenching

A total of 51 bedrock samples and 5 float samples were taken and submitted to the ALS Minerals Laboratory in North Vancouver, B.C. for AuME TL-43 analysis with an upper limit of 1 g/t gold. Seventeen of the 56 samples returned value in excess of 1 g/t gold and were subsequently analyzed with procedure Au-AROR43 with an upper limit of 100 g/t gold. Three samples returned values in excess of 100 g/t gold, with a fourth sample reporting at 100 g/t gold. These four samples returned values of 99.7, 108.5, 115.5 and 217 g/t Au through procedure Au-GRA21. Final sampling details can be found in the following table:

Trench Distance Description m width g/t Au Trench Distance Description m width g/t Au
PM1 0 to 1 andesite 1 0.009 PM3 0 to 1 andesite 1 0.156
PM1 1 to 2 andesite 1 0.007 PM3 1 to 2 andesite 1 0.092
PM1 2 to 3 andesite 1 0.019 PM3 2 to 3 quartz vein 1.1 2.6
PM1 3 to 4 andesite 1 0.075 PM3 3 to 4 andesite 1 0.442
PM1 4 to 5 andesite 1 14.55 PM 4 0 to 1 andesite 1 0.144
PM1 5 to 6 andesite 1 0.074 PM 4 1 to 2 andesite 1 0.714
PM1 6 to 7 andesite 1 0.071 PM 4 2 to 3 quartz vein 0.5 11.65
PM1 7 to 8 andesite 1 0.01 PM 4 3 to 4 andesite 1.2 0.168
PM1 8 to 9 andesite 1 0.016 PM 4 4 to 5 quartz vein 0.3 0.235
PM1 9 to 10 andesite 1 0.004 PM 4 5 to 6 andesite 1 0.056
PM1 10 to 11 andesite 1 0.006 PM 5 11 to 12 andesite 1 1.56
PM1 11 to 12 andesite 1 0.01 PM 5 12 to 13 andesite 1 0.058
PM1 12 to 13 andesite 1 0.009 PM 5 13 to 14 andesite 1 0.047
PM1 13 to 14 andesite 1 0.004 PM 5 14 to 15 andesite 1 0.112
PM 2 0 to 1 andesite 1 0.009 PM 5 15 to 16 quartz vein 0.15 12.95
PM 2 1 to 2 andesite 1 0.018 PM 5 16 to 17 andesite 0.85 0.203
PM 2 2 to 3 andesite 1 0.065 PM 5 17 to 18 andesite 1 0.278
PM 2 3 to 4 quartz vein 1 48.1 PM 6 9 to 10 andesite 1 0.061
PM 2 4 to 4.5 quartz vein 0.5 16.25 PM 6 10 to 11 andesite 1 0.056
PM 2 4.5 to 5.5 andesite 1 4.22 PM 6 11 to 12 quartz vein 0.3 21.6
PM 2 5.5 to 6.5 andesite 1 0.049 PM 6 12 to 13 andesite 1 0.61
PM 2 6.5 to 7.5 andesite 1 0.033 PM 6 13 to 14 andesite 1 0.145
Pit 1   andesite 0.55 0.088 PM 6   quartz composite grab 2.99
PM2 ext   quartz vein 0.9 217     quartz boulder float grab 0.643
PM 2 ext   quartz vein 0.9 99.7     quartz boulder float grab 0.235
Pit 1   quartz stringers 0.75 13.85     quartz boulder float grab 108.5
              quartz boulder float grab 37.1
              quartz boulder float grab 115.5
          PM 16   andesite 1 0.414
          PM 17   andesite grab 1.79

The trenching was able to trace the main vein structure approximately 120 metres along strike before the vein zone disappeared beneath thick overburden cover in both directions. Trenches were cut perpendicular to vein strike with short distances opened in each direction along the vein where possible. Mineralization is confined to the quartz veins or within the first metre of the andesitic host rock. The quartz vein ranges from 0.3 to 1.8 metres in width and consists of white quartz with limonite fractures and irregular limonitic patches and a rare vuggy texture.
Two other areas highlighted by anomalous rock samples or soil samples were tested. Overburden thicknesses were beyond the limit of the excavator boom so bedrock was not reached. These areas will need to be tested by diamond drilling.

Canarc cautions investors float samples are grab samples and may not be representative of mineralization on the Princeton Property.

Subscribe to our Newsletter