With the purchase of 94% of the outstanding shares in Suntac Minerals (VSE) now complete, Canarc Resource (VSE) is reviewing financing alternatives for further exploration and development work at the Polaris-Taku property in northwestern British Columbia.
Canarc also completed the purchase of 63% of the outstanding shares in Rembrandt Gold Mines (ASE) under the same terms offered in the Suntac takeover (one Canarc share for each 3.5 shares tendered).
To earn a 60% interest in
the property from Rembrandt, Suntac must complete a positive feasibility study by Aug. 1.
The most recent preliminary estimate put total reserves at about 2.85 million tons grading 0.43 oz. gold per ton.
Canarc is now completing an updated resource estimate for the project based on 1992 drilling work.
Be the first to comment on "Canarc plans Polaris-Taku work"