Canarc tests Guyanese property

A second phase of drilling is under way on the Ianna property in Guyana.

Canarc Resource (TSE), which can earn up to a 65% interest from Roraima Gold (VSE), is testing the bulk-tonnage potential of the prospect known as Yakishuru.

Yakishuru is identified by a gold soil anomaly measuring 600 metres in length and 250 metres in width. The anomaly returned a peak soil value of 4.8 grams gold per tonne.

Six holes, totalling 750 metres, will be drilled as part of a $300,000 program that began in September. Geophysical surveys and deep auger sampling will also be carried out.

In the meantime, a shareholder rights protection plan, recently adopted, will be used to ward off hostile takeovers.

Canarc’s management says, howevever, that it is “not aware of any pending or threatened takeover bid for the company.”