VANCOUVER, July 26 /PRNewswire-FirstCall/ - Amarc Resources
Ltd. ("Amarc", the "Company") (TSX Venture: AHR; OTCBB: AXREF) is
pleased to provide an update on its exploration activities at the
Newton bulk tonnage gold project, located in south-central
British Columbia ("BC").
Initial results received from the 2010 surface program at Newton
have identified significant new mineral potential on the property
proximal to the area of Amarc's 14-hole discovery diamond drill
program, completed in late 2009. Best intercepts from the 2009
drilling include 189 metres grading 1.56 g/t gold, including 141
metres grading 2.01 g/t gold in hole 9004 and 138 metres grading
0.74 g/t gold, including 63 metres grading 1.17 g/t gold in hole
9014 (further results in Amarc release dated January 19, 2010).
An Induced Polarization ("IP") ground geophysical survey has
defined a substantial target that extends some 400 metres
north-south by 1,500 metres west-east and is open in all
directions. The new IP anomaly, which is located approximately 450
metres south of Amarc's discovery drilling at Newton, was not
identified by historical IP surveys. Limited outcrop in the target
area suggests the presence of favorable host rocks, as encountered
in the 2009 drill program. Two historical drill holes, located
immediately to the north of the new target, returned very broad
intervals of highly anomalous gold, including 115 metres at 0.17
g/t gold in hole 82-03 and 128 metres at 0.25 g/t Au and 18 metres
at 0.51 g/t gold in hole 82-04. Although sub-economic in grade,
these very broad continuous intercepts indicate the potential for a
large nearby gold-bearing hydrothermal system.
"Amarc's comprehensive 2010 surface program at Newton is
defining exciting new potential for a bulk tonnage gold resource in
south-central BC," confirmed Amarc Chairman Robert A. Dickinson. "We are tremendously
encouraged by the initial results received from our ongoing
programs, especially as we believe this property may represent a
new gold deposit type in BC. We have a drill tender process
underway right now and, once surface exploration activities have
been completed, data synthesized and drill targets refined, we will
commence drilling."
Previous work at Newton has shown that the most intensively
developed mineralization is associated with disseminated sulphides
that appear to be preferentially localized by pervasively altered
volcaniclastic and epiclastic rock units. These preferred host
rocks have a high permeability and an anticipated wide areal
distribution - features that are representative of a permissive
environment for the development of a bulk tonnage-style mineralized
system.
"Our geological team believes the extensive new target area
being defined by the IP survey has compelling potential," Dickinson
said. "Additionally, detailed surface mapping in the immediate area
of Newton Hill has delineated a wider geographic distribution of
favorable host rocks than was previously recognized. All of these
conditions indicate increased potential for the Newton project to
host a significant bulk tonnage gold resource."
Amarc has the right to acquire an 80% interest in the Newton
property from New High Ridge Resources Inc. by incurring
$5 million in expenditures within
seven years. The property is located approximately 110 kilometres
southwest of the City of Williams
Lake within the Chilcotin region of south-central BC.
Newton is situated 40 kilometres north of the permitting-stage
Prosperity copper-gold project, which hosts 831 million tonnes of
proven and probable reserves grading 0.41 g/t gold and 0.23%
copper, containing 3.6 billion pounds copper and 7.7 million ounces
gold at a C$5.50 NSR/t cut-off
(Taseko Mines Limited).
Amarc is also making good progress with extensive geophysical,
geological and geochemical surveys underway on the approximately
1,700-square kilometre, adjacent property which is part of its
Plateau Gold-Copper Belt. The Company expects to provide an update
on preliminary results from this work shortly.
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.
Amarc Resources Ltd. is a Vancouver-based exploration and development
company affiliated with the Hunter Dickinson group, a private
company associated with a series of successful mineral exploration
and development projects in BC - including Golden Bear, Mt. Milligan, Kemess, Gibraltar and Prosperity.
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, 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.
