VANCOUVER, July 17, 2018 /CNW/ - Amarc Resources Ltd.
("Amarc" or the "Company") (TSX-V: AHR; OTCBB: AXREF) is pleased to
announce that field work has commenced at its 464 km2
JOY porphyry copper-gold project which covers the northern
extension to the prolific Kemess porphyry gold-copper district in
north-central, BC. In 2017, Centerra Gold purchased the
southern Kemess district located directly adjacent to the south of
the JOY project for $310 million.
The $2 million, 2018 JOY
program is being funded by Hudbay Minerals Inc. (Hudbay), which has
partnered with Amarc to explore and develop the JOY project.
Hudbay will also pay $1.15
million this year to Amarc for property acquisition
costs.
Amarc has identified a new, 20 km long by 4 km wide northeast
trending structural corridor crossing the JOY property. This
favourable structural trend - named the Finlay Magnetic Corridor
("FMC") - hosts the PINE and TREE gold-copper porphyry deposits
and, based on extensive historical geochemical, geophysical and
drilling programs by past operators, numerous other compelling
deposit targets. This year's field work includes the
completion of property-wide heliborne magnetic surveys, followed by
exploration surveys over prioritized targets within and adjacent to
the FMC. These surveys include 80-100 km of Induced
Polarization ("IP") surveys, 850 sample soil surveys and extensive
geological mapping. Drilling is expected to follow to test
sulphide systems that are delineated by the surveys for major
gold-copper deposits.
The detailed heliborne magnetic survey over most of the project
area was recently completed. Results indicate that the
PINE and TREE gold-copper deposits on the property are represented
by northeast trending magnetic highs within the northeast trending
FMC. There are a number of similar magnetic features located
along and adjacent to this major structural corridor which are now
being explored by the other field surveys. For Maps and
Figures of the survey area, see
http://www.amarcresources.com/ahr/MapsFigures.asp?ReportID=831536
.
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, highways and rail. 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 sole funding
its DUKE Project. Please see corporate presentation available on
Amarc's website at www.amarcresources.com.
Amarc is associated with Hunter Dickinson Inc. ("HDI"), a
diversified, global mining company with a 29-year history of
porphyry discovery and development success. Previous 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, Maggie and IKE. 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 of 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.
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SOURCE Amarc Resources Ltd.
