VANCOUVER, March 22, 2018 /CNW/ - Amarc Resources Ltd.
("Amarc" or the "Company") (TSX-V: AHR; OTCBB: AXREF) is pleased to
announce that crews have been mobilized to begin a 2,500 m core drilling program at the DUKE copper
project in the Smithers region of
central British Columbia.
"The objectives of the drill campaign are to begin delineating
the geometry and grade distribution of both the bulk tonnage
gold-copper mineralization and the copper-molybdenum-silver
mineralization discovered by drilling of two core holes at DUKE in
late 2017," said Amarc President Diane
Nicolson. "The drill intercepts we generated late last year
were highly encouraging in terms of the volume and grade of
mineralization intersected. They also provided compelling
geological information to guide our current exploration
program."
Results from 2017 drilling indicate the presence of an important
porphyry copper-molybdenum-silver-gold deposit at DUKE, with copper
equivalent grades comparable to those being milled at BC's copper
mines (see Amarc news release dated December
19, 2017). A drill plan, details of the targets to be tested
and the results of 2017 drilling are provided in an updated
corporate presentation available on Amarc's website at
www.amarcresources.com. Provincial government permits for the
current drilling are in hand.
In November 2017, Amarc drilled
two core holes at DUKE that targeted the lateral and vertical
extensions of near surface, porphyry copper mineralization over an
area measuring approximately 800 m by
400 m, as defined by 29 shallow
(average 90 m deep) holes drilled by
a previous operator. Amarc's holes, drilled to lengths of over
500 m, successfully intersected
copper-molybdenum-silver-gold mineralization at depths of up to
450 m significantly below areas of
mineralization demonstrated by the shallow historical drilling. The
mineralization is mainly hosted by biotite-feldspar-porphyry and
felsic intrusive rock – rock types that also host the Bell,
Morrison and Granisle porphyry
copper deposits in the region.
Importantly, after intersecting some 400
m of copper-molybdenum porphyry mineralization, continuation
of the westernmost of the two holes (hole DK17001) encountered
adjacent bulk tonnage-style gold-copper mineralization that is open
to expansion. This gold-bearing interval hosts a very different
geochemical expression than the rocks above, which assay for
copper, molybdenum and silver. The last 9.5
m of hole DK17001 returned excellent assays for bulk tonnage
gold-copper deposits, indicating that further drill investigation
is warranted.
Moreover, the host rock to this gold-copper mineralization also
appears to be logged near surface in a 55
m deep historical drill hole. The historical drill hole in
question lies about 200 m to the
north, but that historical interval was not assayed. Nicolson said,
"This unexpected development multiplies both the potential of the
DUKE project, and the regional porphyry district staked by
Amarc."
About Amarc Resources Ltd.
Amarc is a mineral exploration and development company with an
experienced and successful management team focused on developing a
new generation of BC porphyry copper mines. By combining
strong projects and funding with successful management, Amarc has
created a solid platform to create value from its exploration and
development-stage programs.
Amarc is advancing its 100% owned IKE, DUKE and JOY porphyry
copper deposit districts, located in southern, central and northern
BC, respectively, each with proximity to industrial infrastructure,
power, rail and highways. These projects represent
significant potential for the discovery of multiple and
important-scale, porphyry gold-copper and copper-molybdenum
deposits. Hudbay Minerals Inc. is funding development of the IKE
and JOY projects in partnership with Amarc, which is operating
these exploration and development programs.
Amarc is associated with Hunter Dickinson Inc. ("HDI"), a
diversified, global mining company with a 29-year history of
porphyry discovery and development success. Pervious and
current HDI porphyry projects included some of BC's and the world's
most important mineral resources – such as Pebble, Mount Milligan,
Kemess South, Kemess North, Gibraltar, Prosperity, Xietongmen, Newtongmen,
Florence, Sisson and Maggie. From its head office in
Vancouver, Canada, HDI applies its
unique strengths and capabilities to acquire, develop, operate and
monetize mineral projects to provide superior returns to
shareholders.
Amarc is working with government, stakeholders and First Nations
toward the responsible development of its projects, and manages an
ongoing program of community and regional outreach for each of its
projects. These efforts include the provision of jobs,
training programs, contract opportunities, capacity funding and
sponsorship of community events. The Company also seeks to
establish comprehensive partnership discussions with local First
Nations at the earliest stages of project development with the goal
of establishing progressive agreements. All work programs are
carefully planned to achieve high levels of environmental and
social performance.
Qualified Person as Defined Under National Instrument
43-101
Mark Rebagliati, P. Eng., a
Qualified Person as defined under National Instrument 43-101, has
reviewed and approved the technical content in this
release.
ON BEHALF OF THE BOARD
Ronald W. Thiessen
Chief Executive Officer
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 news release includes certain statements that may be deemed
"forward-looking statements". All such statements, 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.
Assumptions used by the Company to develop forward-looking
statements include the following: Amarc's projects will obtain all
required environmental and other permits and all land use and other
licenses, studies and exploration of Amarc's projects will continue
to be positive, and no geological or technical problems will occur.
The Company cannot guarantee that the Consolidated Loan and
issuance of securities contemplated by this release will
complete. There is no certainty that the Company will be able
to repay the Consolidated Loan or any other outstanding debt or
liability of the Company in a timely manner or at all.
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, exploitation and
exploration successes, continuity of mineralization, uncertainties
related to the ability to obtain necessary permits, licenses and
tenure and delays due to third party opposition, changes in and the
effect of government policies regarding mining and natural resource
exploration and exploitation, exploration and development of
properties located within Aboriginal groups asserted territories
may affect or be perceived to affect asserted aboriginal rights and
title, which may cause permitting delays or opposition by
Aboriginal groups, 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.
