Canarc Resource Begins PEA for El Compas Project

Canarc Resource Corp. (TSX:CCM,OTCBB:CRCUF) announced that it’s begun a preliminary economic assessment( PEA) for its recently acquired Mexico-based El Compas gold-silver project.
As quoted in the press release:

Mining Plus has been commissioned to complete an updated NI 43-101 resource report and a NI 43-101 Preliminary Economic Assessment (PEA) report for El Compas Project in Mexico, aimed to demonstrate the potential viability of mineral resources at the Mexican project.
The PEA work that has now begun will continue during October, November and December 2015 with a goal to complete the PEA for public disclosure and regulatory filing during January 2016.

Catalin Chiloflischi, Canarc’s CEO, commented:

The engagement of a trusted engineering group, like Mining plus, just days after signing the acquisition agreement, represents Canarc’s first concrete step forward to advance the newly acquired El Compas project in Mexico towards production. The estimated completion of the PEA in January 2016, should help facilitate the financing needed to bring El Compas mine into production during 2016.

Click here to read the full Canarc Resource Corp. (TSX:CCM,OTCBB:CRCUF) press release.