Canagold Drills 79.3 g/t Gold (Au) and 8.76% Antimony (Sb) over 1.96 m; Within 4.62 m Averaging 37.7 g/t Au and 4.57% Sb
Most intercepts fall outside the current resource model and mine plan, which Canagold sees as an opportunity to expand resources.
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 additional gold and antimony drill results from four holes at its wholly owned New Polaris project in British Columbia. Hole NP26-10A returned 37.7 grams per tonne gold and 4.57% antimony over 4.62 metres, including 79.3 grams per tonne gold and 8.76% antimony over 1.96 metres. A 0.66-metre interval returned 145.7 grams per tonne gold and 18.57% antimony.
NP26-11 returned 21.1 grams per tonne gold and 0.66% antimony over 9.44 metres, plus a separate 2.85-metre interval grading 14.4 grams per tonne gold and 0.05% antimony. NP26-13 returned 5.4 grams per tonne gold and 0.01% antimony over 8.64 metres. The 14-hole, 7,277-metre program is complete. Drilling difficulties forced NP26-12 and NP26-13 to be abandoned before reaching their targets. Canagold sees resource expansion potential because most intercepts fall outside the current resource model and mine plan.
Positive
- Minor pointNP26-10A returned 37.7 g/t gold and 4.57% antimony over 4.62 m, including 79.3 g/t and 8.76% over 1.96 m.
- Minor pointNP26-10A's nested 0.66 m interval returned 145.7 g/t gold and 18.57% antimony.
- Minor pointNP26-11 returned 21.1 g/t gold and 0.66% antimony over 9.44 m.
- Minor pointNP26-11's included 4.88 m interval returned 37.2 g/t gold and 1.29% antimony.
- Minor pointNP26-11's nested 0.84 m interval returned 42.3 g/t gold and 5.81% antimony.
4 minor points
- Minor pointNP26-11's separate 2.85 m interval returned 14.4 g/t gold and 0.05% antimony.
- Minor pointNP26-13 returned 5.4 g/t gold and 0.01% antimony over 8.64 m.
- Minor pointNew Polaris completed its 14-hole, 7,277 m resource infill and expansion drilling program.
- Minor point. Forward-looking: it has not happened yet and may not happen.Canagold sees resource expansion potential because most intercepts fall outside the current resource model and mine plan.
Negative
- Minor pointNP26-12 and NP26-13 were abandoned before reaching targeted mineralization because of drilling difficulties.
AI-generated analysis. How Rhea-AI works. Not financial advice.
HIGHLIGHTS
Assay results received from four additional holes include:
37.7 grams per tonne ("g/t") gold ("Au") and
4.57% antimony ("Sb") over 4.62 m from 489 m down hole in NP26-10A, including:79.3 g/t Au and
8.76% Sb over 1.96m, and145.7 g/t Au and
18.57% Sb over 0.66m
21.1g/t Au and
0.66% Sb over 9.44m from 250.4 m down hole in NP26-11, including:37.2 g/t Au and
1.29% Sb over 4.88 m and42.3 g/t Au and
5.81% Sb over 0.84 m
Vancouver, British Columbia--(Newsfile Corp. - November 3, 2026) - Canagold Resources Ltd. (TSX: CCM) (OTCQB: CRCUF) (FSE: CANA) ("Canagold" or the "Company") announces assay results from four 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
"The consistency of high-grade gold and antimony intercepts we have encountered throughout our drilling program is particularly encouraging," said Catalin Kilofliski, CEO of Canagold. "We are now seeing multiple high-grade intervals across successive drill holes, demonstrating the continuity and potential scale of this mineralization. Importantly, most of these intercepts fall outside our current mineral resource model and mine plan, highlighting a significant opportunity to expand the high-grade gold and antimony resources at New Polaris. These results continue to reinforce our confidence in the project's substantial growth potential and the opportunity to further enhance its already robust economics."
DRILL ASSAY HIGHLIGHTS
This news release contains assay results received from four additional holes (NP26-10A, NP26-11, NP26-12 and NP26-13) 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).
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/11878/322159_c83fd61714b88912_001full.jpg
| Table 1: Drill assay results for New Polaris drill holes NP26-10A, NP26-11 and NP26-13. | ||||||
| Drillhole ID | From (m) | To (m) | Interval (m) | Au g/t | Sb % | |
| NP26-10A | 489.00 | 493.62 | 4.62 | 37.7 | 4.57 | |
| including | 490.24 | 492.2 | 1.96 | 79.3 | 8.76 | |
| and | 490.24 | 490.90 | 0.66 | 145.7 | 18.57 | |
| NP26-11 | 250.41 | 259.85 | 9.44 | 21.1 | 0.66 | |
| Including | 250.42 | 255.30 | 4.88 | 37.2 | 1.29 | |
| and | 254.46 | 255.30 | 0.84 | 42.3 | 5.81 | |
| NP26-11 | 405.15 | 408.00 | 2.85 | 14.4 | 0.05 | |
| NP26-13 | 287.8 | 296.44 | 8.64 | 5.4 | 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) |
| NP26-10A | 579330 | 6507077 | 30.0 | 110.4 | -81.5 | 520 |
| NP26-11 | 579322 | 6507110 | 30.5 | 29.0 | -85.8 | 426 |
| NP26-12 | 579330 | 6507077 | 30.0 | 29.6 | -88.5 | 325 |
| NP26-13 | 579330 | 6507077 | 30.0 | 123.0 | -87.3 | 339 |
Note: Due to drilling difficulties drill holes NP26-12 and NP26-13 were abandoned prior to reaching the targeted mineralization.
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/322159
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What gold and antimony grades did Canagold report from New Polaris hole NP26-10A?
NP26-10A returned 37.7 grams per tonne gold and 4.57% antimony over 4.62 metres. This included 79.3 grams per tonne gold and 8.76% antimony over 1.96 metres, with a nested 0.66-metre interval grading 145.7 grams per tonne gold and 18.57% antimony.
Are Canagold's New Polaris drill intervals true vein widths?
The reported intervals are core lengths, not established true widths. Insufficient drilling and modelling has taken place to determine the true dip and strike orientation of the intercepted veins.