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Canarc Resource Corp. (CVE:CCM) announces that Cap-Ex Ventures Ltd. has dropped their option to earn a 50% interest in the Tay LP property.

Canarc Resource Corp. (TSXV:CCM) announces that Cap-Ex Ventures Ltd. has dropped their option to earn a 50% interest in the Tay LP property.

The press release is quoted as saying,

The Tay–LP property consists of 413 claims covering a 20 km-long by 4 km-wide belt of gold prospects (8,000 hectares) on which several million dollars have been spent on exploration since 1984. The property enjoys good road access, favourable gold geology, multiple exploration targets, and strong potential to make new gold discoveries. Gold mineralization at Tay LP is associated with quartz-sulphide stock-works replacing fault structures and carbonate sedimentary rocks proximal to three small granodioritic intrusions.

For the complete press release, click here.

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