VANCOUVER, April 14 /PRNewswire-FirstCall/ - Amarc Resources
Ltd. ("Amarc", "the Company") (TSX Venture: AHR; OTCBB: AXREF) is
pleased to provide an update on its activities to advance the
Newton bulk tonnage gold discovery and the adjacent, highly
prospective Plateau Gold-Copper Belt located near Prosperity
gold-copper mine development in south-central, British Columbia (BC) which is in the
permitting stage.
"Amarc has planned comprehensive field programs for 2010 with
the goal of determining the full extent of the Newton bulk tonnage
gold discovery made in late-2009 and exploring the extensive new
claim holdings which cover the adjacent Plateau Gold-Copper Belt,"
said Amarc Executive Chairman Bob
Dickinson. "The Company is funded to undertake a range of
exploration activities to start shortly and expects to generate
positive results from throughout the region over the ensuing
months."
Amarc initiated its 2010 field activities by undertaking a 7,000
line-kilometre ZTEM (Z-Axis Tipper Electromagnetic system) survey
and a high-sensitivity magnetometer airborne geophysical survey
over the Newton property, other regional anomalies and the Plateau
Gold-Copper Belt (see Amarc press release January 19, 2010). This survey has been completed
and is now being compiled and analyzed. The survey is considered to
be one of the largest airborne geophysical surveys ever undertaken
by an exploration company in BC.
The geophysical signatures of Newton and other known mineral
occurrences in the region have been established and are now being
used, in conjunction with public domain data and in-house
knowledge, to define previously unrecognized targets within the
Newton and Plateau Gold-Copper Belt properties. In addition, Amarc
has retained a world-class structural geologist to assist in the
prioritization of compelling deposit targets.
"We are extremely encouraged by the high-quality targets that
have already been identified over the approximately 2,800 square
kilometres of mineral claims, 100% owned by Amarc, within the
Plateau Gold-Copper Belt," Dickinson said. "Our geologists believe
these targets have high potential to host significant gold-copper
porphyry deposits, as well as potential epithermal styles of
precious metals mineralization. An experienced regional technical
team has been assembled and will be deployed to the field in June
to commence on-the-ground target delineation, to be followed by
drill testing of select targets. Our targets lend themselves to
discovery of Prosperity-type copper-gold porphyry deposits and
Round Mountain-type, bulk tonnage gold-silver deposits."
Late in 2009, Amarc discovered the Newton bulk tonnage-style
gold system, which may represent a new gold deposit type for BC
within a previously unrecognized district (see Amarc press release
January 19, 2010). The best intercept
from Amarc's 14-hole diamond drill program intercepted 189 metres
at 1.56 g/t gold. Amarc has the right to acquire a 100% interest in
the Newton property from High Ridge Resources Inc. by incurring
$5 million in project expenditures
within seven years.
The goal of the 2010 exploration activities planned for Newton -
including mapping, Induced Polarization (IP) geophysical surveys
and drilling - is to substantially advance the delineation of a
bulk tonnage gold resource. Permit applications related to both the
IP geophysical survey and a 25-hole diamond drill program were
submitted to the provincial government in mid-December 2009 and permits are expected to be
received shortly. Amarc has assembled a strong technical team to
advance the Newton project.
Gold mineralization at Newton is associated with disseminated
sulphides that are localized within pervasively altered
volcaniclastic and epiclastic rock units. These host rocks are
characterized by both a high primary permeability and likely a wide
geographical distribution, features that are representative of a
permissive environment for the development of a bulk tonnage-style
mineralized system. Additional potential may also be present in the
form of structurally controlled high-grade gold zones.
The Newton property and Plateau Gold-Copper Belt are located
approximately 140 kilometres southwest of the City of Williams Lake in a region
characterized by subdued topography. The district is well served by
existing transportation and power infrastructure, which supports a
number of operating mines and late-stage development projects.
The Prosperity copper-gold project, located 40 kilometres to the
south of Newton property, hosts Proven and Probable Reserves of 830
million tonnes grading 0.41 g/t Au and 0.23 % copper at a
C$5.50 NSR/t cut-off (Taseko Mines
Limited). On January 14, 2010, the
Prosperity project received environment approval from the BC
government, and is currently the focus of a federal environmental
review panel.
Amarc Resources Ltd. is a Vancouver-based exploration and development
company affiliated with the Hunter Dickinson group, a private
company with a series of successful mineral development projects in
BC - including Golden Bear, Mt.
Milligan, Kemess, Gibraltar and
Prosperity.
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 content of
this release.
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, exploitation and exploration 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 government policies regarding mining and
natural resource exploration and exploitation, environmental issues
and liabilities associated with mineral exploration and development
activities, 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.
