Canagold reports high-grade gold and antimony intercepts at New Polaris in B.C.

Canagold Resources reported assay results from three additional holes at its New Polaris gold-antimony project in northwestern British Columbia on October 22. The results came from the recently completed 14-hole, 7,277-metre infill and expansion program, which targeted a high-grade gold and antimony zone. New Polaris is about 100 kilometres south of Atlin and 60 kilometres northeast of Juneau, Alaska.

Hole NP26-08 returned 52.8 grams per tonne gold and 0.83% antimony over 4.64 metres from 503 metres down hole. The interval comprises 2.64 metres at 69.8 g/t gold and 0.13% antimony, followed by 2.00 metres at 30.4 g/t gold and 1.75% antimony. The split shows that the two parts of the reported core interval had different gold and antimony grades.

NP26-07 cut 24.6 g/t gold over 7.33 metres from 458.5 metres down hole, including 1.18 metres at 70.4 g/t. The same hole also returned 8.04 g/t gold over 10 metres from 294 metres. NP26-09 intersected 6.50 g/t gold over 6.92 metres from 231 metres. The company said these were results from three more holes in the 14-hole program; the release does not treat each listed subinterval as a separate drill hole.

Canagold designed the campaign to define and extend high-grade antimony mineralization and assess its potential contribution to the project’s gold resources. The company said most of the newly reported high-grade intervals sit outside the current resource model and mine plan. That observation is the issuer’s interpretation of where the intercepts fall; the announced assays do not themselves revise the resource estimate or mine plan.

All reported intercepts are core lengths. Canagold said there has not been enough drilling and modelling to determine the true dip and strike of the veins, so true widths have not been established. Assays were prepared at MSA Labs’ Terrace facility and analyzed in Langley, British Columbia. The issuer described a quality-control process using blanks, certified standards and duplicate samples at intervals of one in ten, alongside chain-of-custody controls.

New Polaris is a 100%-owned project, and its existing mineral resource is reported in a technical report filed in June 2023. The October 22 release supplies additional assay results from the completed drilling campaign; it does not give a new resource estimate. The 2023 resource report therefore remains the cited estimate in this announcement. The release says the completed drilling encountered multiple mineralized zones in this area. Canagold’s next interpretation will depend on how the results fit with drilling, geological modelling and other project work.