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Canada
New Polaris Project

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 Location:
97 km S from Atlin, British Columbia, Canada

  Project Contacts:
Suite 810-625 Howe Street
Vancouver
British Columbia, Canada
V6C 2T6
Phone  ...  Subscription required
Fax(604)-685-9744
EmailEmail
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  • Overview
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  • Mining
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  • Production
  • Reserves
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Overview

StagePermitting
Mine TypeUnderground
Commodities
  • Gold
Mining Method
  • Cut & Fill
  • Longhole stoping
  • Paste backfill
Mine Life8.7 years (as of Jan 1, 2020)
Canarc Resource Corp. has received a multi-year exploration permit from the BC Ministry of Energy, Mines and Petroleum Resources to conduct exploration work at its 100% owned New Polaris Gold Mine project in northern British Columbia. Initial site preparation work has been completed to facilitate the environmental baseline study and infill drilling required to advance to a feasibility study.
2022 Plan: Continue environmental baseline studies and geotechnical and engineering work needed to support an application to the BC Environmental Assessment office for an Environmental permit to build the mine.


Owners

Source: p. 32
CompanyInterestOwnership
Canagold Resources Ltd. 100 % Indirect
New Polaris Gold Mines Ltd. 100 % Direct
The claims are 100% owned and held by New Polaris Gold Mines Ltd., a wholly owned subsidiary of Canarc Resource Corp. (Canarc), and subject to a 15% net profit interest held by Rembrandt Gold Mines Ltd. (Rembrandt), which Canarc has the right to reduce to 10% by issuing 150,000 shares to Rembrandt.

Contractors

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Deposit Type

  • Vein / narrow vein
  • Mesothermal


Summary:

The New Polaris deposit is classified as a mesothermal lode-gold deposit (Hodgson, 1993).

In general, it is quartz-vein-related, with associated carbonatized wall rocks. The deposits are characterized by a high gold/silver ratio, great vertical continuity with little vertical zonation, and a broadly syn-tectonic time of emplacement. They are commonly associated with pyrite, arsenopyrite, tourmaline and molybdenite. Mineralization may occur in any rock type and ranges in form from veins, to veinlet systems, to disseminated replacement zones. Most mineralized zones are hosted by and always related to steeply dipping reverse- or oblique-slip brittle-fracture to ductile-shear zones.

Past exploration studies have demonstrated that the New Polaris vein systems have all the attributes of the orogenic vein gold deposit including, but not limited to association with major structural break, quartzcarbonate vein association, low-sulphide assemblage of pyrite and arsenopyrite, chloritic and sericitically altered wall rocks and persistent gold mineralization over a vertical distance of nearly 1 km.

Mineralization of the New Polaris deposit bears strong similarities to many Archean lode gold deposits such as the arsenical gold camp of Red Lake, Ontario where the gold-bearing arsenopyrite is disseminated in the altered rock and in quartz-carbonate stringers.

The vein mineralization consists of arsenopyrite, pyrite, stibnite and gold in a gangue ........


Mining Methods

  • Cut & Fill
  • Longhole stoping
  • Paste backfill


Summary:

The mine production plan is based on a subset of the Mineral Resources, focusing on resources within a confining shape targeting material above a 6.0 g/t cutoff grade.

The mine plan uses a combination of conventional cut and fill mining on 24% of the deposit and longhole stoping on 58% of the deposit; depending on mineralization thickness and continuity. Development in ore makes up the remaining 18% of production.

Waste development will include a decline from surface, extraction drifts on sublevels across the footwall of the orebody, and ventilation raises to the surface.

LH will be used in the steeper areas of the zone while CCAF will be utilized in the shallow dipping (less than 55°) and thinner areas. The CCAF stopes are generally located at the “on strike” extremities of the LH stoping areas.

Sublevel Longhole Stoping
The LH stopes have been designed with a longitudinal orientation, thus, to maintain production two working areas on each level are required to be active at one time. One working area needs to be in the drill/blast/muck cycle while the other is in the backfilling cycle. Paste backfill will be used to fill mined stope panels and will be introduced through a network of boreholes and horizontal piping ultimately filling the stope panels from the extraction drift of the level above.

Longhole stoping provides high productivity at low mining costs from a small number of working faces. No geotechnical ........


Crushing and Grinding
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Processing

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Summary:

- subscription is required.


Projected Production:

CommodityUnitsAvg. AnnualLOM
Gold oz 80,000693,000
All production numbers are expressed as metal in doré.

Operational Metrics:

Metrics
Daily ore mining rate 750 t *
Ore tonnes mined, LOM 2,306,000 t *
Daily processing capacity 750 t *
Tonnes processed, LOM 2,306 kt *
Annual processing capacity 273,750 t *
* According to 2019 study.

Reserves at February 28, 2019:
Cut-off grade - 4 g/tonne gold.

CategoryTonnage CommodityGradeContained Metal
Indicated 1,687 kt Gold 10.8 g/t 586 koz
Inferred 1,483 kt Gold 10.2 g/t 485 koz

Commodity Production Costs:

CommodityUnitsAverage
Cash costs Gold USD  ......  Subscription required&nbs
All-in sustaining costs (AISC) Gold USD  ......  Subscription required&nbs
Assumed price Gold USD  ......  Subscription required&nbs
* According to 2020 study / presentation.
Subscription required - Subscription is required.

Operating Costs:

Units2019
UG mining costs ($/t mined) CAD 65.3 *
Processing costs ($/t milled) CAD  ......  Subscription required
Total operating costs ($/t milled) CAD  ......  Subscription required
* According to 2019 study.
Subscription required - Subscription is required.

2020 Study Costs and Valuation Metrics :

MetricsUnitsLOM Total
Initial CapEx $M USD  ......  Subscription required
Pre-tax Cash Flow (LOM) $M CAD  ......  Subscription required
After-tax Cash Flow (LOM) $M CAD  ......  Subscription required
After-tax NPV @ 5% $M CAD  ......  Subscription required
After-tax NPV @ 8% $M CAD  ......  Subscription required
Pre-tax IRR, %  ......  Subscription required
After-tax IRR, %  ......  Subscription required
Pre-tax payback period, years  ......  Subscription required
After-tax payback period, years  ......  Subscription required
Subscription required - Subscription is required.


Proposed Heavy Mobile Equipment as of February 28, 2019:
HME TypeSizeQuantityLeased or
Contractor
ANFO Loader 147 HP ....................... Subscription required Leased
....................... Subscription required ....................... Subscription required
....................... Subscription required ....................... Subscription required
....................... Subscription required ....................... Subscription required ....................... Subscription required Leased
....................... Subscription required ....................... Subscription required ....................... Subscription required Leased
....................... Subscription required ....................... Subscription required
....................... Subscription required ....................... Subscription required ....................... Subscription required Leased
....................... Subscription required ....................... Subscription required ....................... Subscription required Leased
....................... Subscription required ....................... Subscription required ....................... Subscription required Leased
....................... Subscription required ....................... Subscription required ....................... Subscription required Leased
....................... Subscription required ....................... Subscription required ....................... Subscription required Leased
....................... Subscription required ....................... Subscription required ....................... Subscription required Leased
Subscription required - Subscription is required.

Mine Management:

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Aug 9, 2022
....................... Subscription required ....................... Subscription required Subscription required Feb 28, 2019
....................... Subscription required ....................... Subscription required Subscription required Feb 28, 2019
....................... Subscription required ....................... Subscription required Subscription required Feb 28, 2019
....................... Subscription required ....................... Subscription required Subscription required Aug 9, 2022
Subscription required - Subscription is required.


Corporate Filings & Presentations:

DocumentYear
................................... Subscription required 2020
................................... Subscription required 2020
................................... Subscription required 2020
................................... Subscription required 2019
Financial Review 2016
Preliminary Economic Assessment 2011
Subscription required - Subscription is required.

Subscription required - Subscription is required.

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