4 Sept 2025resource reserve update● Neutral
A qualified person's consent filed alongside the feasibility study technical report. It carries no project information of its own.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
4 Sept 2025resource reserve update● Neutral
Filed the NI 43-101 technical report behind the July feasibility study, restating the same C$425 million after-tax net present value and 30.9% return at US$2,500 gold. No changes to the headline figures.
21 July 2025resource reserve update▲ GoodMajor
The feasibility study - the first study for New Polaris with actual reserves rather than a conceptual mine plan - gave an after-tax net present value of C$425 million and a 30.9% return at US$2,500 gold, or C$793 million and 47.3% at the then-spot US$3,300, on pre-production capital of only C$250 million. The mine is an underground operation averaging 9.94 g/t diluted over life, containing 904,000 ounces of gold and recovering 805,589, at an all-in sustaining cost of US$1,247 an ounce. For comparison the 2019 conceptual study showed a 56% return, but at a US$1,500 gold price and without reserves or a stated capital figure in this release.
16 Oct 2024resource reserve update● Neutral
Filed an SK-1300 technical report summary for New Polaris, the US disclosure equivalent of the Canadian technical report. The cached exhibit contains no readable text - the document body is empty table cells - so nothing beyond the fact of the filing can be reported from it.
18 Sept 2024drilling progress report▲ GoodMajor
The final two holes closed out the North Zone expansion programme with 10.8 g/t gold over 4.3 metres and 10.4 g/t over 3.6 metres in NP24-34 and 14.1 g/t over 1.1 metres in NP24-33A - a weaker finish than the middle of the programme. All assays are now in and the company is modelling the new shallow mineralisation for a possible resource addition.
29 Aug 2024drilling result▲ GoodMajor
Twenty-six more North Zone holes: 20.2 g/t gold over 4.4 metres in NP24-09, 18.3 g/t over 4.5 metres in NP24-28, 14.9 g/t over 2.1 metres in NP24-11, and a wider 9.4 g/t over 9.8 metres also in NP24-09. Grades and widths in line with the first five holes, all at shallow depth.
18 July 2024drilling result▲ GoodMajor
The first five holes of a resource-expansion programme in the North Zone - new ground rather than infill - all hit: 14.5 g/t gold over 3.8 metres and 12.9 g/t over 3.8 metres in NP24-01, 10.6 g/t over 5.0 metres in NP24-02, 13.2 g/t over 2.6 metres within 8.6 g/t over 9.8 metres in NP24-04, and 12.3 g/t over 3.6 metres plus 12.9 g/t over 4.6 metres in NP24-05. Shallow, from 75 to 230 metres down hole.
3 July 2023resource reserve update● Neutral
Filed the NI 43-101 technical report supporting the May resource estimate. No new figures.
16 May 2023resource reserve update▲ GoodMajor
The updated resource estimate delivered what the drilling was for: indicated resources of 2.97 million tonnes at 11.6 g/t gold for 1.11 million ounces, an 89% increase in indicated ounces on the 2019 study, with inferred at 0.93 million tonnes at 8.93 g/t for 0.27 million ounces. Tonnage rose 23% on the new veins found by the 2021-22 infill drilling and the indicated grade improved 8% to 11.61 g/t from 10.8. Crossing one million indicated ounces is what the feasibility study needed.
7 Feb 2023drilling result▲ GoodMajor
Twenty-one holes from a 9,000-metre programme confirmed high grade near surface in the Y-vein system, a shallower target than the C veins: 53.8 g/t gold over 2.78 metres (2.03 metres true width) from only 63.9 metres down hole P22Y10, 9.64 g/t over 7.14 metres (5.66 true) in P22Y09, and 18.0 g/t over 5.64 metres in a vein that was not in the model at all. The Y19 and Y20 veins now run 300 metres of strike, open north and south, and the company says the results fit the 2019 study's mine plan parameters.
12 Oct 2022resource reserve update▲ GoodMajor
Retained Ausenco to run the New Polaris feasibility study, with a brief that includes rebuilding the resource model to take in the 30,000-plus metres drilled since 2021 and, for the first time, calculating mining reserves. Announced under the new CEO Catalin Kilofliski, five weeks after the board change.
31 Aug 2022resource reserve update▲ GoodMajor
Put the New Polaris feasibility study out to tender among seven engineering firms. The release restates the 2019 preliminary economic assessment - US$1,500 gold, US$400 an ounce cash costs, after-tax net present value C$469 million, 56% return, indicated resource 586,000 ounces at a 4 g/t cut-off - as the basis for going to feasibility.
28 June 2022drilling result▲ GoodMajor
The final four holes of the 54-hole, 30,000-metre programme produced its two best results: 34.4 g/t gold over 6.6 metres in hole 21-1700E3, including 646 g/t over 0.3 metres, and in hole 21-1800E3 37.2 g/t over 5.0 metres and 17.0 g/t over 9.0 metres, a combined 13.6 g/t over 25.1 metres. Visible gold meant metallic screen fire assay was used. A 646 g/t half-metre is the kind of number that makes an average - treat the wide composite, not the sub-interval, as the signal.
14 June 2022drilling result▲ GoodMajor
Seven holes returned intercepts in three veins including, for the first time, a new vein below the 600-metre limit of the current resource: hole 22-1844E2W1A gave 7.54 g/t gold over 18.6 metres down-hole in that new vein, along with 7.41 g/t over 3.5 metres in C-10 and 7.70 g/t over 2.2 metres in the main vein. Hole 22-1844E2W2A returned 5.27 g/t over 22.6 metres in C-10 and 16.0 g/t over 6.1 metres in the main vein. A new vein deeper than anything modelled is a genuine addition, not infill.
21 Apr 2022drilling result▲ GoodMajor
Six more holes, including 42.5 g/t gold over 2.0 metres in hole 22-1665E1 with 69.7 g/t over 0.8 metres inside it - drilled into a known gap in the resource model rather than into existing blocks, so it fills a hole in the model rather than extending it. Also 19.3 g/t over 4.3 metres in 21-1675E1A and 10.4 g/t over 5.8 metres in 21-1755E1.
21 Mar 2022drilling result▲ Good
Five holes returned paired intercepts in both the C-10 and C-West Main veins, showing the two are consistently drilled through together: 21-1875E3W1 gave 14.2 g/t gold over 2.9 metres in C-10 and 5.99 g/t over 2.1 metres in the main vein, and 21-1844E4 4.10 g/t over 12.5 metres in C-10 with 5.16 g/t over 1.9 metres in the main vein. C-10 is carrying the wider intervals; the main vein the higher grades over narrower widths.
24 Feb 2022drilling result▲ Good
Six more infill holes in the C-West Main vein, all narrow and high grade: 21.1 g/t gold over 2.2 metres in 21-1700E2A, 19.5 g/t over 3.7 metres in 21-1615E1A, 22.8 g/t over 1.7 metres in 21-1760E1 and 12.2 g/t over 1.8 metres in 21-1635E1. The stated purpose is tightening drill spacing so inferred resources can be upgraded to indicated - category conversion, not expansion.
26 Jan 2022drilling result▲ GoodMajor
Five more infill holes in the C-West Main vein, two of them with visible gold. Hole 21-1700E1A returned 20.7 g/t gold over 3.8 metres including 38.1 g/t over 1.8 metres, 21-1725E1 gave 27.1 g/t over 2.9 metres, 21-1750E1 13.5 g/t over 8.0 metres, and 21-1715E1 8.79 g/t over 3.5 metres. These are infill holes inside a known vein, drilled to move inferred material into the indicated category rather than to find anything new.
12 Jan 2022drilling result▲ Good
A year-in-review release covering 2021 and 2022 plans. The substance is that roughly 30,000 metres of infill drilling has repeatedly hit thick high-grade intervals in the C-9 and C-10 veins that lie parallel to and outside the C-West Main vein, which management says is prompting a rethink of the whole stacked vein system's economics. No new assay numbers beyond those already released.
30 Nov 2021drilling result▲ GoodMajor
Infill drilling for the 24,000-metre, 47-hole programme found two hanging-wall veins, C-9 and C-10, sitting outside the C-West Main vein that holds almost all of the current resource. Nine C-9 and thirteen C-10 intercepts are now known, counting 1995 and 2006 holes: hole 21-1905E2 gave 11.1 g/t gold over 17.8 metres down-hole, one of the widest intervals ever drilled at New Polaris, and 21-1890E1 17.1 g/t over 8.4 metres. True widths have not been calculated because the vein attitude is not yet resolved, and neither vein is in the resource.
14 Jan 2021drilling result● NeutralMajor
A year-in-review release rather than fresh assays. Canarc renamed itself Canagold, consolidated its shares five to one, raised C$8.4 million and updated the New Polaris economics to a US$333 million after-tax net present value and 56% return at US$1,500 gold. It also closed out two failures: Hard Cash returned only narrow low-grade gold and the option was terminated, and at Windfall Hills the best 2020 holes were 0.75 g/t gold-equivalent over 33 metres and 0.25 g/t over 78 metres, with the company saying it may seek a partner rather than continue alone. The Princeton earn-in right was sold to Damara Gold for 9.9% of Damara.
24 Nov 2020drilling progress report▲ GoodMajor
Received a multi-year exploration permit from the BC ministry for New Polaris and readied the existing camp - bunkhouses, kitchen, core shack - for environmental baseline work and the infill drilling needed to move toward a feasibility study. The permit is the gate that lets the whole New Polaris programme start.
18 Nov 2020drilling result▲ Good
Ophir Gold, which is buying the Lightning Tree property from Canarc, reported surface rock samples grading up to 69 g/t gold and 27.5 g/t silver and identified two new anomalous areas. These are selective surface grab samples on ground Canarc is selling, so the benefit to Canarc is limited to the payments and royalty on the sale.
17 Nov 2020drilling result▼ Bad
A miss, and the company reported it plainly: seven reverse-circulation holes over 1,019 metres at Hard Cash in Nunavut hit only narrow, low-grade gold - the best being 3.12 g/t over 3.0 metres and 5.04 g/t over 1.5 metres - and failed to confirm a shear-hosted orogenic gold system worth pursuing. Canarc terminated its option with Silver Range Resources rather than pay for a second phase.
8 Sept 2020drilling progress report▲ Good
Getchell Gold began a six-hole, 2,000-metre programme at Fondaway Canyon under the four-year option it signed in January 2020 - five holes on the Central target and one on the Pediment target. Canarc is not paying for it and has no results of its own to report.
15 Oct 2019drilling progress report● Neutral
A maiden four-hole, 1,375-metre core programme began at Corral Canyon in Nevada, testing two of four identified targets - the NW and SW targets - for both shallow disseminated gold and deeper high-grade feeder veins. The SW target is a gold-silver area Canarc found itself during the summer. No results yet.
18 Apr 2019resource reserve update▲ GoodMajor
Filed the NI 43-101 technical report behind the February 2019 preliminary economic assessment of New Polaris, the underground high-grade gold project 100 kilometres south of Atlin. As restated in the company's own later releases, the study used US$1,500 gold to give cash costs of US$400 an ounce, an after-tax net present value of about C$469 million at a 5% discount, a 56% after-tax return, and an indicated resource of 586,000 ounces at a 4 g/t cut-off. A preliminary economic assessment is conceptual and contains no reserves.
21 Nov 2018drilling result● Neutral
Staked 92 claims over 742 hectares in northwestern Nevada to create the Corral Canyon project, wholly owned with no underlying royalties. The case for it is historical drilling including 10.7 metres at 2.6 g/t gold and a position on the trend that hosts the past-producing Sleeper mine 72 kilometres south. This is a staking announcement with historic numbers, not new drilling by Canarc, and the immediate plan is only mapping and sampling.