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Canarc to retain 33.33% interest in claims adjacent to Barrick's Eskay Creek

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Canarc to retain 33.33% interest in claims adjacent to Barrick's Eskay Creek

Canarc Resource Corp. entered into an agreement with Barrick Gold Corp. unit Barrick Gold Inc. and Skeena Resources Ltd. regarding its interest in certain mining claims adjacent to the past-producing Eskay Creek gold property in British Columbia.

Canarc and Barrick own 33.33% and 66.67% interests, respectively, in six claims and mining leases totaling 2,323 hectares at Eskay Creek.

Canarc said Dec. 20 that it will retain its 33.33% carried interest in the claims through the deal between Barrick and Skeena, under which Skeena can acquire Barrick's Eskay Creek property, while Barrick's 66.67% interest in the adjacent claims will shift to Skeena on meeting certain obligations under the agreement.