Canagold Resources Ltd. reports developments tied to its advanced mineral-development business and its 100%-owned New Polaris gold-antimony project in northwest British Columbia. Company news commonly covers feasibility and technical reporting, environmental assessment and permitting activity, metallurgical work on antimony recovery, project development planning, and engagement with Indigenous Nations and local communities.
Updates also include capital actions such as common-share and flow-through share financings, use of proceeds for exploration and project development, insider participation in offerings, and management additions related to permitting and compliance. The recurring news profile centers on New Polaris as a gold-antimony asset moving through feasibility, permitting, and development-stage work.
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.
Canagold Resources announced the outcomes from its Annual General Meeting held on June 12, 2024. All directors listed in the May 9, 2024 Information Circular were elected. Key voting results included Sofia Bianchi, Kadri Dagdelen, Michael Doyle, Carmen Letton, and Andrew Trow, each receiving over 99% votes in favor. Shareholders also approved the appointment of Davidson & Company LLP as the auditor for the ensuing year and endorsed a non-binding advisory resolution on executive compensation. Detailed results are available on the company's SEDAR+ profile.
Canagold Resources has commenced a 12,000-meter drilling program at its New Polaris Gold Project in northern British Columbia. This initiative aims to expand the high-grade mineralization adjacent to historic workings, potentially adding significant resources to the company's portfolio. Historical drill data, including 36 drill holes, reveal promising results like 26.2 gpt gold over 4.3 meters, indicating substantial expansion potential to the north. The program seeks to upgrade resources to the Indicated category for inclusion in the feasibility study. CEO Catalin Kilofliski highlighted the opportunity to access high-grade resources early in the mine life, reducing initial capital requirements.
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