Canagold Resources Ltd Stock Price, News & Analysis

Canagold Resources (OTCQB: CRCUF) has achieved a significant milestone by completing the feasibility study for its New Polaris project, marking a rare achievement as only 0.2% of exploration projects reach this stage. The company has built a decade-long partnership with First Nations and made important project modifications, including the removal of cyanide from their process based on community feedback.

The company is now focusing on three key initiatives to enhance project economics: developing antimony revenue potential, implementing run-of-river hydroelectric power, and exploring resource expansion opportunities, while proceeding with environmental permitting.

Canagold Resources (OTC-QB: CRCUF) has announced positive Feasibility Study results for its 100% owned New Polaris gold-antimony project in British Columbia. The study demonstrates robust economics with an after-tax NPV of C$425 million and IRR of 30.9% at a base gold price of US$2,500/oz, or NPV of C$793 million and IRR of 47.3% at current spot gold price of US$3,300/oz.

The project features low initial CAPEX of C$250 million and attractive AISC of US$1,247/oz. The high-grade underground mine is expected to produce 805,589 ounces of recovered gold over an 8.3-year mine life, with an average grade of 9.94 g/t gold. While significant antimony resources have been identified, the current feasibility study excludes antimony revenue pending additional metallurgical testing.

Canagold Resources (TSX: CCM, OTC-QB: CRCUF) has announced a Mineral Resource Update for its New Polaris Gold Project, specifically quantifying the antimony metal content within the existing gold resource. The update reveals 5,630 tonnes of antimony within the indicated gold resource and 1,195 tonnes within the inferred gold resource.

The resource estimation is based on metal prices of US$1,750/oz Au with a 0.75 US:CDN forex rate, including 99% payable metal for gold. The project's economics factor in mining costs of CDN$82.78/t, processing costs of CDN$105.00/t, and G&A costs of CDN$66.00/t, with a metallurgical gold recovery rate of 90.5%.

The company views this antimony resource as a potential additional revenue stream, positioning Canagold as a significant player in Canada's critical mineral supply chain. The antimony resource is reported as a subset of the total mineral resource at a 4 gpt Au cutoff.

Canagold Resources (TSX: CCM, OTC-QB: CRCUF) has achieved a significant permitting milestone for its New Polaris Project in northwestern British Columbia. The British Columbia Environmental Assessment Office (BCEAO) has issued a process order, allowing the project to advance to the Application Development and Review phase of the Environmental Assessment.

This development enables Canagold to prepare and submit its application for an Environmental Assessment Certificate while maintaining engagement with Indigenous Nations, regulatory bodies, and stakeholders. The BCEAO's decision followed a comprehensive review process that incorporated feedback from participating Indigenous Nations, the Technical Advisory Committee, Alaskan Tribes, and the public through a comment period.

Canagold Resources has announced significant antimony mineralization at its New Polaris Gold Project, alongside its existing gold resources. Antimony, classified as a critical mineral by Canada, US, and EU, is essential for defense technologies, semiconductors, fire retardants, and solar panels manufacturing.

The 2022 metallurgical test program, involving a 700 kg master composite with 390 mineralized drill core intervals, demonstrated a 92% antimony recovery rate in the bulk sulphide gold concentrate, with an average antimony grade of 0.44% in feed and 3.07% in concentrate. Notable drill intercepts showed high antimony concentrations, including 9.08% over 5.1m and 11.86% over 2.0m.

The company plans further evaluation of the antimony resource and additional metallurgical testwork in 2025 to assess the total resource and determine optimal processing conditions. This development could create a new revenue stream with minimal additional costs, as there are currently no producing antimony mines in Canada.

Canagold Resources has achieved a significant milestone for its New Polaris Project in northwestern British Columbia. The British Columbia Environmental Assessment Office (BCEAO) has recommended the project proceed to the Process Planning Phase of the environmental assessment, supported by the Taku River Tlingit First Nation.

Key project improvements include:

• Producing high-grade flotation concentrate instead of on-site dore
• Reduced power requirements and potential for on-site hydro power
• No cyanide usage in the flotation process
• Improved freight transportation with concentrate flown off-site
• Reduced on-site storage facilities

These changes address environmental concerns and enhance the project's economic viability. The company remains committed to responsible mining practices and collaboration with Indigenous groups, stakeholders, and regulators in British Columbia and Alaska.

Canagold Resources (TSX: CCM, OTC-QB: CRCUF) has announced sample assay results from two additional drill holes in its resource expansion program at the New Polaris Gold project in northwestern British Columbia. The drilling targeted the North Zone and yielded significant gold intercepts, including:

- 10.8 g/t gold over 4.3 m (including 15.5 g/t over 2.0 m)
- 10.4 g/t gold over 3.6 m (including 12.3 g/t over 1.3 m)
- 14.1 g/t gold over 1.1 m
- 10.4 g/t gold over 1.2 m

The drilling program has been completed with 10,300 meters drilled in 34 holes, intercepting five separate mineralization zones. Modeling of the results is in progress to assess the potential for expanding the project's high-grade resources.

Canagold Resources (TSX: CCM, OTC-QB: CRCUF) has announced sample assay results from 26 drill holes in its resource expansion program at the New Polaris Gold project in northwestern British Columbia. Highlights include:

- 20.2 g/t gold over 4.4 m in Hole NP24-09
- 18.3 g/t gold over 4.5 m in Hole NP24-28
- 14.9 g/t gold over 2.1 m in Hole NP24-11
- 12.4 g/t gold over 3.2 m in Hole NP24-25
- 9.4 g/t gold over 9.8 m in Hole NP24-09

The drilling program, now completed with 10,300 meters in 34 holes, has intercepted five separate mineralization zones. CEO Catalin Kilofliski stated the results are encouraging and highlight the potential to expand shallow, high-grade resources at New Polaris.

Canagold Resources has announced promising results from its resource expansion drill program at the New Polaris Gold project in northwestern British Columbia. The first five drill holes in the North Zone have intercepted strong gold mineralization, with highlights including:

- 14.5 g/t gold over 3.8 m in Hole NP24-01
- 12.9 g/t gold over 3.8 m in Hole NP24-01
- 10.6 g/t gold over 5.0 m in Hole NP24-02
- 13.2 g/t gold over 2.6 m in Hole NP24-04
- 12.9 g/t gold over 4.6 m in Hole NP24-05

To date, 6,000 meters of the planned 12,000-meter drilling program have been completed, with drilling expected to continue until mid-August. The results suggest potential to increase the shallow, high-grade resources at New Polaris.