Canagold announces high-grade drilling results at New Polaris Mine

High-Grade Gold Intercepts at New Polaris Gold Project

Canagold Resources Ltd. recently reported high-grade gold intercepts from the initial five holes of a 12,000-meter drilling program underway at the New Polaris Gold project in northwestern British Columbia. Located about 60 miles south of Atlin, B.C., and 35 miles northeast of Juneau, Alaska, New Polaris was a historically productive high-grade gold mine that operated intermittently between 1938 and 1957, producing significant quantities of gold.

The current drilling campaign at New Polaris is mainly focused on expanding high-grade resources near historic workings at the upper part of the deposit.

Key Insights into Canagold’s Approach

Canagold CEO Catalin Kilofliski highlighted the potential to add significant high-grade, near-surface resources through the new mineralized area discovered via a thorough review and modeling of historic drill data. This strategic approach aims to increase the precious metal resources available for extraction.

So far, the company has completed approximately 6,000 meters of drilling and has received assay results from the first five holes, which have yielded promising results.

Impressive Gold Intercepts from Recent Drilling

The highlights from the initial five drill holes include:

• 3.8 meters averaging 14.5 g/t gold and 3.8 meters averaging 12.9 g/t gold in hole NP24-01
• Five meters averaging 10.6 g/t gold, including 17.6 g/t gold over three meters in hole NP24-02
• 9.8 meters averaging 8.6 g/t gold, including 13.2 g/t gold over 2.6 meters in hole NP24-04
• 3.6 meters averaging 12.3 g/t gold and 4.6 meters averaging 12.9 g/t gold in hole NP24-05

Canagold is optimistic about the potential to increase shallow, high-grade resources at the New Polaris project, hinting at positive implications for future mine development. The company is considering incorporating these new indicated resources into an ongoing feasibility study.

Community Engagement and Sustainable Development

Canagold has been actively engaging with the Taku River Tlingit First Nation (TRTFN) to establish a cooperative and respectful working relationship for advanced exploration and permitting. TRTFN acknowledges the company’s commitment to fostering good relations, which includes local employment opportunities and transparent project communication.

Collaborating in a technical working group, Canagold and TRTFN discuss project design and operating parameters, aiming to ensure sustainable resource extraction and economic development in the region. The partnership exemplifies a model for responsible mining practices and community engagement.