Canarc Resource Corp. announced that it has received an updated, independent, resource estimate for Canarc's El Compas Gold-Silver Mine ("El Compas") in Zacatecas, Mexico. Comprised of 23 concessions totaling 2,900 hectares, the El Compas property is host to a number of gold bearing veins mined underground on a small scale by a private Mexican company in the past.

A total of 153 exploration drill holes were completed between 2005-2010 to outline high-grade gold and silver mineralization within at least two of the vein structures, El Compas and El Orito. The gold and silver mineralisation is hosted within two main vein systems, the El Compas and the El Orito veins. Since the mineralisation is hosted predominantly within quartz veins, the mineralised intercepts for each drill hole have been selected and interpreted based on the logged quartz veining, in cross-section and then wireframed.

Areas of consistent high-grade mineralisation were segregated into sub-domains and estimated separately. In addition, a halo shape encompassing the main El Compas vein has been created in order to estimate gold and silver grades into the weakly mineralised portions surrounding the vein. Each wireframe has been used as hard boundaries during the estimation process with appropriate priorities set up during the block modeling to account for areas where any wireframes overlap.

Seven mineralised wireframes have been used in the Mineral Resource estimate. The drill-hole database supplied contained 153 drill holes for 30,069.22m of drilling and 41 underground channel samples for 304.6m of sampling. A total of 159 drill-hole and 50 underground channel sample composites have been used in the Mineral Resource Estimate, with comparisons between the two data types indicating that they can both be utilised in the grade estimation.