New Assay Results from Newton Gold Discovery – Delineation Drilling Continues
VANCOUVER, Feb. 8, 2012 /PRNewswire/ – Amarc Resources Ltd. (“Amarc” or the
“Company”) (TSXV: AHR; OTCBB: AXREF) is pleased to announce assay
results from the last three delineation drill holes completed in 2011
at the Newton gold discovery, south-central British Columbia. Assay
results from drill holes 11053, 11054 and 11055 continue to confirm an
extensive and robust gold system has been discovered at Newton.
Delineation drilling has now recommenced at the Newton site with two
rigs working. Amarc plans to continue drilling until the deposit is
The long intercepts of bulk tonnage style gold mineralization
encountered in holes 11053 through 11055 bring the number of holes
drilled with important gold results to 46. These holes are located
over 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 (TSXV: AHR; OTCBB: AXREF) owns an
80% interest in the Newton property and is the operator of the Newton
Joint Venture. Newton Gold Corp. (TSXV: NWG) has a 20% participating
Results from holes 11053, 11054 and 11055 are summarized in the Table of
Assay Results below. A drill plan and other information regarding the
Newton Project are available on Amarc’s website at www.amarcresources.com/ahr/MapsFigures.asp.
NEWTON PROJECT TABLE OF ASSAY RESULTS
__________________________________________________ |Drill Hole|Incl. |From|To |Int.| Au | Ag |AuEQ1| |___________|______|____|___|____|_____|_____|_____| | ID | |(m) |(m)|(m) |(g/t)|(g/t)|(g/t)| |___________|______|____|___|____|_____|_____|_____| | 11053 | | 79| 94| 15| 0.47| 1.9| 0.50| |___________|_____|_____|___|____|_____|_____|_____| | 11053 | | 166|187| 21| 0.65| 1.4| 0.67| |___________|_____|_____|___|____|_____|_____|_____| | 11053 | | 235|271| 36| 0.87| 1.5| 0.90| |___________|_____|_____|___|____|_____|_____|_____| | 11053 |incl.| 235|238| 3| 3.58| 1.4| 3.60| |___________|_____|_____|___|____|_____|_____|_____| | 11053 |and | 256|259| 3| 4.89| 3.5| 4.95| |___________|_____|_____|___|____|_____|_____|_____| | 11053 | | 445|475| 30| 0.64| 1.0| 0.66| |___________|_____|_____|___|____|_____|_____|_____| | 11054 | | 43|442| 399| 0.50| 2.4| 0.54| |___________|_____|_____|___|____|_____|_____|_____| | 11055 | | 30|151| 121| 0.70| 2.4| 0.74| |___________|_____|_____|___|____|_____|_____|_____| | 11055 |incl.| 78|151| 73| 0.86| 2.0| 0.90| |___________|_____|_____|___|____|_____|_____|_____| | 11055 | | 238|286| 48| 0.57| 2.8| 0.62| |___________|_____|_____|___|____|_____|_____|_____|
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.
Amarc Executive Chairman Robert Dickinson said, “We are increasingly confident that ongoing drilling at Newton will
confirm this deposit as the next major gold discovery in BC’s emerging
Blackwater-Newton gold belt.”
Amarc drilling is intersecting increased thicknesses of pervasively
altered felsic volcanic rocks that host disseminated sulphides and
associated gold mineralization. It is the high primary permeability of
these favourable host rocks, coupled with evidence for their expanding
geographic distribution that presents a permissive environment for the
development of a major 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 located approximately 175 kilometres
south of New Gold’s Blackwater gold deposit (Indicated Resources of 164
million tonnes at an average grade of 1.03 g/t gold containing 5.42
million ounces; and Inferred Resources of 69 million tonnes at an
average grade of 0.84 g/t gold containing 1.86 million ounces; New Gold
news release February 2, 2012).
In addition to the Newton project, 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 new sulphide mineralized systems.
Four of the defined target areas have similar dimensions to, or exceed
that, of the eight square kilometre sulphide system at Newton. 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, existing transportation and power
infrastructure and a skilled workforce which supports an active mineral
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 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 batch.
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.