VANCOUVER, BC / ACCESSWIRE / January 14, 2021 / Canagold Resources Ltd. (TSX:CCM)(OTCQB:CRCUF)(FSE:CAN) highlights the results of its 2020 activities and outlines its 2021 plans to advance the high grade New Polaris gold mine project in BC and other gold exploration projects in the USA and Canada.
2020 Highlights: Corporate
- Completed a name change to Canagold Resources Ltd. and a 5:1 share consolidation.
- Strengthened the Board of Directors with the addition of Andrew Bowering.
- Strengthened the Management Team with the addition of Troy Gill as Vice-President of Exploration.
- Closed a private placement of common shares for gross proceeds of CAD $8.4 million.
New Polaris Project, British Columbia
- Updated Preliminary Economic Assessment (PEA) for New Polaris at US$1500 gold price and $0.71 exchange rate which improved NPV to US$333 million and IRR to 56% after tax.
- The undiscounted pre-tax, life-of-mine cash flow totals CAD$847 million with a 68% IRR and a