Amarc drilling continues to expand Newton gold discovery
VANCOUVER, Jan. 23, 2012 /PRNewswire/ – Amarc Resources Ltd. (“Amarc” or the
“Company”) (TSXV: AHR) (OTCBB: AXREF) is pleased to announce assay
results from delineation drill holes 11051 and 11052, which continue to
expand the Newton bulk tonnage gold discovery in south-central British
Important gold results have now been returned from drill intersections
in 43 holes located throughout an area that currently measures 900
metres by 600 metres and is open to expansion in several directions.
The age and geological characteristics of the gold mineralization at
Newton demonstrate striking similarities to the mineralization at New
Gold’s Blackwater deposit located to the north. Amarc owns an 80%
interest in the Newton property and is the operator of the Newton Joint
Venture. Newton Gold Corp. has a 20% participating interest.
Results from holes 11051 and 11052 are summarized in the Table of Assay
Results below. Drill hole 11051 was completed as a re-drill of hole
11050 which was lost at shallow depth. A drill plan and other
information regarding the Newton Project are available on Amarc’s
website at www.amarcresources.com.
TABLE OF ASSAY RESULTS
_____________________________________________________ |Drill Hole|Incl.|From | To |Int. | Au | Ag |AuEQ1| | ID | | (m) | (m) | (m) |(g/t)|(g/t)|(g/t)| |___________|_____|_____|_____|_____|_____|_____|_____| | 11051 | | 81.0|129.0| 48.0| 0.77| 3.7| 0.84| |___________|_____|_____|_____|_____|_____|_____|_____| | 11051 |Incl.| 81.0|102.0| 21.0| 0.96| 5.5| 1.05| |___________|_____|_____|_____|_____|_____|_____|_____| | 11051 | |315.0|408.0| 93.0| 0.76| 1.8| 0.79| |___________|_____|_____|_____|_____|_____|_____|_____| | 11051 |Incl.|366.0|408.0| 42.0| 1.21| 0.8| 1.22| |___________|_____|_____|_____|_____|_____|_____|_____| | 11052 | | 48.0|456.0|408.0| 0.60| 2.6| 0.64| |___________|_____|_____|_____|_____|_____|_____|_____| | 11052 |Incl.| 48.0|207.0|159.0| 0.84| 3.1| 0.89| |___________|_____|_____|_____|_____|_____|_____|_____| | 11052 | and | 99.0|207.0|108.0| 1.00| 3.6| 1.06| |___________|_____|_____|_____|_____|_____|_____|_____| | 11052 | and |138.0|207.0| 69.0| 1.23| 4.7| 1.31| |___________|_____|_____|_____|_____|_____|_____|_____| | 11052 | and |168.0|171.0| 3.0| 7.70| 3.6| 7.76| |___________|_____|_____|_____|_____|_____|_____|_____| | 11052 |Incl.|318.0|456.0|138.0| 0.60| 2.8| 0.65| |___________|_____|_____|_____|_____|_____|_____|_____| | 11052 | and |378.0|456.0| 78.0| 0.73| 2.8| 0.78| |___________|_____|_____|_____|_____|_____|_____|_____| | 11052 | and |378.0|426.0| 48.0| 0.93| 3.8| 0.99| |___________|_____|_____|_____|_____|_____|_____|_____|
1. Gold equivalent calculations use metal prices of Au US$1200/oz and Ag US$20/oz. Metallurgical recoveries and net smelter returns are assumed to be 100%. 2. All holes are drilled vertically. 3. Widths reported are drill widths, such that true thicknesses are unknown. All assay intervals represent length weighted averages.
“We continue to be extremely encouraged by the long intercepts of bulk
tonnage style gold mineralization being intersected at Newton, as well
as its continuity and grade,” said Amarc Executive Chairman Robert Dickinson. We are confident that Newton will be confirmed as the next major gold
discovery in BC’s new emerging Blackwater-Newton gold belt.”
Assaying of holes 11053 through 11055 is in progress; results will be
released as they are received and compiled. Drilling at Newton was
halted for the holiday season in mid-December. It is scheduled to
recommence in early February and continue until the discovery is
Amarc drill crews are progressively stepping out from the discovery
drill holes at Newton, and have intersected increased thicknesses of
the pervasively altered felsic volcanic rocks that host disseminated
sulphides and associated gold mineralization. It is the high primary
permeability of these favoured host rocks, coupled with their expanding
geographic distribution that presents a permissive environment for the
development of a significant bulk tonnage-style gold deposit.
The Newton property is located some 100 kilometres west of the City of
Williams Lake, BC in a region characterized by gently rolling hills.
The district is well served by existing transportation and power
infrastructure and a skilled workforce, which support a number of
operating mines, as well as late-stage mineral development and
exploration projects. Newton is also located some 175 kilometres south
of New Gold’s Blackwater gold deposit (Indicated Resources of 184
million tonnes at 0.94 g/t gold and 4.9 g/t silver and Inferred
Resources of 43 million tonnes at 0.88 g/t gold and 4.7 g/t silver at a
0.3 g/t gold cut off, New Gold website).
Amarc also owns a 100% interest in the 800 square kilometre Galileo
property and the 140 square kilometre Hubble property located to the
west and east, respectively, of New Gold’s Blackwater property.
Extensive Induced Polarization geophysical surveys recently conducted
by Amarc over these two properties indicate strong potential for six
important sulphide mineralized systems.
Four of the defined Galileo target areas have similar dimensions to, or
exceed that, of the eight square kilometre sulphide system at the
Newton Project. Drill permit applications have been submitted to the
provincial government in order to test these promising targets for
potential gold and/or copper deposits. Once permits are received,
Amarc plans to methodically drill test all of the compelling targets
identified at Galileo and Hubble.
The Galileo and Hubble properties lie approximately 135 kilometres
southwest of the town of Vanderhoof and 176 kilometres southwest of
northern BC’s regional hub city of Prince George. The area is
characterized by subdued topography and is well served by existing
transportation and power infrastructure and a skilled workforce, which
supports an active exploration industry.
About Amarc Resources Ltd.
Amarc is a Vancouver-based mineral exploration and development company
focused on making the next major gold discovery in BC. Its exploration
activities are focused on the Newton gold discovery through a Joint
Venture with Newton Gold Corp. (Amarc 80%: Newton Gold Corp. 20%) and
its 100% owned Galileo and Hubble properties.
Amarc is associated with Hunter Dickinson Inc. (HDI) – a diversified,
global mining group with a 25-year history of mineral development
success. Previous HDI projects in BC include Golden Bear, Mt. Milligan,
Kemess, Gibraltar, Prosperity and Harmony. From its head office in
Vancouver, Canada, HDI applies its unique strengths and capabilities to
acquire, develop, operate and monetize mineral properties to provide
consistently superior returns to shareholders.
Mark Rebagliati, P.Eng., a Qualified Person as defined under National
Instrument 43-101, is supervising the exploration and quality assurance
and quality control programs on behalf of Amarc and has reviewed the
technical content of this release.
Quality Assurance/Quality Control
Sample preparation and analysis for the Newton project is done at ISO
9001:2008 accredited Acme Analytical Laboratories (Vancouver) Ltd. All
samples are assayed for gold by 30 g lead collection fire assay fusion
with Inductively Coupled Plasma Emission Spectroscopy (ICP ES)
finish. Silver and 33 additional elements are determined for all
samples by Aqua Regia digestion, followed by ICP ES and ICP Mass
Spectroscopy (ICP MS) finish. All over limit gold (greater than 10 g/t)
are re assayed by 30 g lead collection fire assay fusion with a
gravimetric finish. As part of a comprehensive QA/QC program, one
standard and also one field replicate or preparation duplicate are
inserted into the sample stream in each group of 20 samples, as well as
one or more field blanks in each analytical bath.
ON BEHALF OF THE BOARD
Ronald W. Thiessen
President & CEO
Neither the TSX Venture Exchange nor any other regulatory authority
accepts responsibility for the adequacy or accuracy of this release.
Forward Looking and other Cautionary Information
This release includes certain statements that may be deemed
“forward-looking statements”. All statements in this release, other
than statements of historical facts that address exploration drilling,
exploitation activities and other related events or developments are
forward-looking statements. Although the Company believes the
expectations expressed in such forward-looking statements are based on
reasonable assumptions, such statements are not guarantees of future
performance and actual results or developments may differ materially
from those in the forward looking statements. Factors that could cause
actual results to differ materially from those in forward-looking
statements include market prices, potential environmental issues or
liabilities associated with exploration, development and mining
activities, exploration and exploitation successes, continuity of
mineralization, uncertainties related to the ability to obtain
necessary permits, licenses and title and delays due to third party
opposition, changes in and the effect government policies regarding
mining and natural resource exploration and exploitation, continued
availability of capital and financing, and general economic, market or
business conditions. Investors are cautioned that any such statements
are not guarantees of future performance and actual results or
developments may differ materially from those projected in the
forward-looking statements. For more information on Amarc Resources
Ltd., investors should review the Company’s annual Form 20-F filing
with the United States Securities and Exchange Commission at www.sec.gov and its home jurisdiction filings that are available at www.sedar.com.
SOURCE Amarc Resources Ltd.