Canagold Hits 69.8 g/t Gold Over 2.64m at New Polaris, Outside Current Resource Model
CRCUF sits 56% above its 52-week low of $0.282 on elevated volume (2.8× avg).
Summary
Canagold reported assays from three more New Polaris holes, including 69.8 g/t gold over 2.64m within 4.64m averaging 52.8 g/t gold and 0.83% antimony. Management says most of these high-grade intervals fall outside the current resource model, pointing to expansion potential.
Key Events · Product Development and Regulatory · CRCUF
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High-Grade Assays From Three New Holes
NP26-08 returned 52.8 g/t Au and 0.83% Sb over 4.64 m from 503 m, including 69.8 g/t Au over 2.64 m and 30.4 g/t Au and 1.75% Sb over 2.00 m. NP26-07 returned 24.6 g/t Au over 7.33 m, including 70.4 g/t Au over 1.18 m.
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Results Fall Outside Current Resource Model
The company states most of these high-grade intervals are not included in the current mineral resource model or mine plan, which it frames as potential for resource expansion. No updated resource estimate or tonnage was provided.
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14-Hole Drill Program Completed
The resource infill and expansion program finished with 7,277 m drilled across 14 holes, intersecting multiple mineralized zones. Intercepts are reported as core length; true width has not been determined.
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Context: Going Concern and September Raise
Follows the Q2 2026 filing that disclosed a going concern warning and a $59.6 million deficit, and the September 22 close of a $7.1M private placement that lifted Sun Valley's stake to 49.75%.
Analysis · CRCUF · Energy & Transportation
These are the highest-grade assays reported from the New Polaris program so far, and management says most of the high-grade intervals sit outside the current mineral resource model and mine plan. That matters because it points to resource expansion rather than just confirmation drilling — the kind of result that can lift the project's size and economics before a feasibility study. The caveat is that these are core-length intercepts, not true widths, and the company has not yet quantified any resource increase. Against a going-concern warning disclosed in the Q2 filing and a $7.1M placement closed in September, strong drill results are the main lever for improving the project's value.
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At the time of this filing, CRCUF was trading at $0.44 on OTC in the Energy & Transportation sector, with a market capitalization of approximately $100.2M. The 52-week trading range was $0.28 to $0.56. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.