Canagold Drills 69.8 g/t Gold (Au) over 2.6m; Within 4.64m Averaging 52.8 g/t Au and 0.83% Antimony (Sb)
Most high-grade intervals are outside the current resource model or mine plan, indicating expansion potential in Canagold's view.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Summary
Canagold Resources (CRCUF) reported gold and antimony assay results from three additional drill holes at its wholly owned New Polaris project.
Hole NP26-08 returned 52.8 grams per tonne (g/t) gold and 0.83% antimony over 4.64 metres, including 69.8 g/t gold and 0.13% antimony over 2.64 metres, plus 30.4 g/t gold and 1.75% antimony over 2.00 metres. NP26-07 returned 24.6 g/t gold over 7.33 metres, including 70.4 g/t over 1.18 metres, and a separate 8.04 g/t gold interval over 10.00 metres. NP26-09 returned 6.50 g/t gold over 6.92 metres.
The completed British Columbia drilling program covered 7,277 metres in 14 holes, targeting resource definition and expansion. Intervals are core lengths, not established true widths. Canagold said most high-grade intervals are outside the current resource model or mine plan and indicate potential for resource expansion.
Positive
- Minor pointNP26-08 returned 52.8 g/t gold and 0.83% antimony over 4.64 m, including 69.8 g/t gold over 2.64 m.
- Minor pointNP26-07 returned 24.6 g/t gold over 7.33 m, including 70.4 g/t over 1.18 m.
- Minor pointNP26-07 also returned 8.04 g/t gold and 0.09% antimony over 10.00 m.
- Minor pointNP26-09 returned 6.50 g/t gold and 0.01% antimony over 6.92 m.
- Minor pointResource infill and expansion drilling completed 7,277 m in 14 holes, intersecting multiple mineralized zones.
- Minor point. Forward-looking: it has not happened yet and may not happen.Canagold sees resource expansion potential, with most high-grade intervals outside the current resource model or mine plan.
Negative
- None.
AI-generated analysis. How Rhea-AI works. Not financial advice.
HIGHLIGHTS
Assay results received from three additional holes include:
52.8 g/t Au and
0.83% Sb over 4.64 m (from 503 m down hole) in NP26-08, including 69.8 g/t Au and0.13% Sb over 2.64 m, and 30.4 g/t Au and1.75% Sb over 2.00 m24.6 g/t Au over 7.33 m (from 458.5 m down hole) in NP26-07, including 70.4 g/t Au over 1.18 m
Vancouver, British Columbia--(Newsfile Corp. - October 22, 2026) - Canagold Resources Ltd. (TSX: CCM) (OTCQB: CRCUF) (FSE: CANA) ("Canagold" or the "Company") announces assay results from three additional drill holes completed as part of its recently concluded 14-hole resource infill and expansion drilling program targeting the high-grade gold and antimony zone at its
"These are exceptional drill results at New Polaris." said Catalin Kilofliski, Canagold CEO, "Importantly, most of these high-grade intervals are not included in the current mineral resource model or mine plan, highlighting the significant potential for resource expansion. These results also suggest that the scale and extent of the high-grade gold and antimony mineralization may be substantially greater than previously understood, presenting a compelling opportunity to expand resources and further enhance the overall economics of the New Polaris Project."
DRILL ASSAY HIGHLIGHTS
This news release contains assay results received from three additional holes (NP26-07, NP26-08 and NP26-09) of the recently completed 14-hole, 7,277 m resource infill and expansion drilling program at New Polaris, which was designed to further define and expand the high-grade antimony mineralization identified at New Polaris, while also evaluating its potential to contribute to the Project's gold resources (see Table 1, Table 2 and Figure 1). Select assay highlights include:
- 52.8 grams per tonne ("g/t") gold ("Au") and
0.83% antimony ("Sb") over 4.64 m from 503 m down hole in NP26-08, including:
- 69.8 g/t Au and
- 30.4 g/t Au and
- 24.6 g/t Au over 7.33 m from 458.5 m down hole in NP26-07, including:
- 70.4 g/t Au over 1.18 m
8.04 g/t Au over 10.00 m from 294 m down hole in NP26-07
6.50 g/t Au over 6.92 m from 231 m down hole in NP26-09
Complete assay results are presented in Table 1. Drill hole locations and orientations are listed in Table 2. Drill intercepts shown are core length, as insufficient drilling and modelling has taken place to determine the true dip and strike orientation of the veins being intercepted.
The drilling program has been completed with 7,277 m drilled in 14 holes, which have intersected multiple zones of mineralization in this area.
FIGURE 1: New Polaris 2026 drilling - antimony-gold mineralization and significant intercepts (section looking east).
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/11878/320350_2774e10b7412ea17_001full.jpg
| Table 1: Drill assay results for New Polaris drill holes NP26-07, NP26-08 and NP26-09. | ||||||
| Drillhole ID | From (m) | To (m) | Interval (m) | Au g/t | Sb % | |
| NP26-07 | 294.00 | 304.00 | 10.00 | 8.04 | 0.09 | |
| 458.52 | 465.85 | 7.33 | 24.6 | 0.01 | ||
| Including | 462.62 | 463.80 | 1.18 | 70.4 | 0.01 | |
| NP26-08 | 503.00 | 507.64 | 4.64 | 52.8 | 0.83 | |
| Including | 503.00 | 505.64 | 2.64 | 69.8 | 0.13 | |
| and | 505.64 | 507.64 | 2.00 | 30.4 | 1.75 | |
| NP26-09 | 231.08 | 238.00 | 6.92 | 6.50 | 0.01 | |
| Table 2: Drill hole collar locations, orientations and depths. Negative dips point down. | ||||||
| Drillhole ID | Easting (UTM NAD83) | Northing (UTM NAD83) | Elevation (m) | Azimuth (°) | Dip (°) | Depth (m) |
| NP26-07 | 579322 | 6507110 | 30.5 | 138 | -89.7 | 503 |
| NP26-08 | 579330 | 6507077 | 30.0 | 86.3 | -82.0 | 526 |
| NP26-09 | 579322 | 6507110 | 30.5 | 22.7 | -82.1 | 411 |
ABOUT NEW POLARIS PROJECT
The New Polaris Gold Project is
Technical Reports
The New Polaris mineral resource is contained within an updated resource report prepared by Moose Mountain Technical Services in the format prescribed by National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101"), and filed on SEDAR+ (www.sedarplus.ca) on June 30, 2023.
Qualified Person
In accordance with NI 43-101, Garry Biles, P.Eng., President & COO, is the Qualified Person for the Company and has prepared, validated, and approved the technical and scientific content of this news release. The Company strictly adheres to CIM Best Practices Guidelines in conducting, documenting, and reporting activities on its projects.
Quality Assurance (QA) - Quality Control (QC)
Drill core is geologically logged to identify the gold mineralized zones that are allocated unique sample number tickets and marked for cutting using a purpose-built diamond blade rock saw. Half core samples are collected in labelled bags and the other half remains in the original core box stored on site. Quality control (QC) samples including certified reference material standards, blanks and duplicates are inserted into the sample sequence at intervals of one in ten on a rotating basis to monitor laboratory performance and provide quality assurance (QA) of the assay results. Several sample bags are transported together in rice bags with unique numbered security tags attached and labelled with Company and lab contact information to ensure sample security and chain of custody during shipment to the lab.
Diamond drill core samples were prepared at MSA Labs' Preparation Laboratory in Terrace, BC and assayed at MSA Labs' Geochemical Laboratory in Langley, BC. Analytical accuracy and precision are monitored by the submission of blanks, certified standards and duplicate samples inserted at regular intervals into the sample stream by Canagold personnel. MSA Laboratories' quality system complies with the requirements for the International Standards ISO 17025 and ISO 9001. MSA Labs is independent of the Company.
ABOUT CANAGOLD RESOURCES LTD.
Canagold Resources Ltd. is an advanced development company dedicated to advancing the New Polaris Project through feasibility, permitting, and production stages. Additionally, Canagold aims to expand its asset base by acquiring advanced projects, positioning itself as a leading project developer. With a team of technical experts, the Company is poised to unlock substantial value for its shareholders.
"Catalin Kilofliski"
Catalin Kilofliski
Chief Executive Officer
For further information, visit our website at www.canagoldresources.com or contact:
Catalin Kilofliski
Chief Executive Officer
Email: catalin@canagoldresources.com
Tel: (604) 685-9700
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
Neither the TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/320350
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did Canagold report from New Polaris drill hole NP26-08?
NP26-08 returned 52.8 g/t gold and 0.83% antimony over 4.64 m from 503 m down hole. This included 69.8 g/t gold and 0.13% antimony over 2.64 m, followed by 30.4 g/t gold and 1.75% antimony over 2.00 m. These intervals are core lengths.
What did Canagold report from New Polaris drill holes NP26-07 and NP26-09?
NP26-07 returned 24.6 g/t gold over 7.33 m, including 70.4 g/t over 1.18 m, while NP26-09 returned 6.50 g/t gold over 6.92 m. NP26-07 also intersected a separate interval grading 8.04 g/t gold over 10.00 m. All reported intervals are core lengths.