VANCOUVER, Feb. 10 /PRNewswire/ - Amarc Resources Ltd.
("Amarc" or the "Company")(TSX Venture: AHR; OTCBB: AXREF)
announces assay results from its recent 28-hole Phase 2 core
drilling program at the Newton bulk-tonnage gold property, located
in south-central British Columbia
(BC).
At the Newton property, an eight square kilometre sulphide
mineralized system has been outlined by surface geophysical surveys
(see Amarc new release dated November 30,
2010). Limited drilling within this target area by
historical operators returned unusually long intervals of highly
anomalous to potentially 'ore grade', bulk tonnage-style gold
mineralization within an area of approximately two square
kilometres. A 14-hole Phase 1 core drilling program completed by
Amarc in 2010 discovered an area on the eastern side of the
mineralized system that hosts potentially ore-grade gold intercepts
over broad intervals (see Amarc news release dated January 19, 2010). The Phase 2 drill program
executed a series of widely spaced, exploration-style drill holes
to further probe the extensive mineral system and the Phase 1
discovery.
Assay results from 24 holes of the Phase 2 drill program are
listed below. Drill hole location plan maps are posted on Amarc's
website at http://www.amarcresources.com/ahr/MapsFigures.asp.
Results from four holes are pending.
Highlights from the Phase 2 drilling include important
intercepts in hole 11040 which have established that the Phase 1
discovery extends eastward under shallow cover and remains open to
the east. Hole 11040 returned 155 metres of 0.58 g/t gold starting
from surface, including 26 metres of 1.12 g/t gold and 39 metres of
0.71 g/t gold. The hole is located 200 metres east of Amarc's Phase
1 discovery drilling, which includes 69 metres of 1.41 g/t gold
(hole 9001), 128 metres of 0.84 g/t gold (hole 9003) and 189 metres
of 1.56 g/t gold (hole 9004) (see detailed drill plan on Amarc's
website).
Other highlights from Phase 2 holes drilled in a widely-spaced
configuration throughout the eight square kilometre mineralized
system include holes 10023 and 10029 which returned 39 metres of
1.21 g/t gold and 36 metres of 0.80 g/t gold, respectively. These
intercepts indicated potential new gold zones within the target
system.
Additional highlights include intercepts in holes 10016 and
10017 which returned 108 metres of 0.37 g/t gold and 140 metres of
0.35 g/t gold, respectively. These broad intercepts of low grade
gold mineralization indicate a sizeable gold mineralizing event and
the strong potential for higher grade gold deposition in the
general proximity.
Follow-up, Phase 3 drilling is planned as soon as possible in
2011 to continue to test and delineate gold mineralization with the
significant Newton bulk-tonnage gold target. Drill permit
applications have been submitted to the BC government.
In addition to its option to earn an 80% interest in the Newton
property from Newton Gold Corp., Amarc holds a 100% interest in
approximately 2,500 square kilometres of mineral claims that
comprise the Plateau Gold-Copper Belt, extending to the north and
south of the Newton property. The Company believes the Plateau
Gold-Copper Belt holds excellent potential for the discovery of
gold-copper porphyries and epithermal gold deposits. Surface
surveys in 2010 defined three significant copper-molybdenum
porphyry targets (see Amarc news release dated August 18, 2010). Drilling permits have recently
been received from the provincial government and Amarc intends to
drill high priority targets within the Plateau Gold-Copper Belt in
2011.
Amarc's Newton and the Plateau Gold-Copper Belt properties are
located some 100 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 and a skilled
workforce, which support a number of operating mines and late-stage
development projects.
Amarc Resources Ltd. is a Vancouver-based exploration and development
company affiliated with Hunter Dickinson Inc. (HDI) - a
diversified, global mine development company 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.
Ronald W. Thiessen
President & CEO
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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 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 fire
assay fusion with a gravimetric finish. As part of a comprehensive QA/QC
program, one standard and also one field replicate are inserted into the
sample stream in each group of 20 samples, as well as one or more field
blanks in each analytical batch.
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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, 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 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.
AMARC RESOURCES LTD. - NEWTON PROJECT
PHASE 2 ASSAY RESULTS
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Drill
Hole From To Int. Int. Au Ag AuEQ(1)
ID Incl. (m) (m) (m) (ft) (g/t) (g/t) (g/t)
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10015 95.0 134.0 39.0 128 0.35 3.1 0.41
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194.0 230.0 36.0 118 0.43 4.7 0.51
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10016 141.0 249.0 108.0 354 0.37 1.5 0.40
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incl. 231.0 249.0 18.0 59 0.57 1.8 0.60
-------------------------------------------------------------------------
10017 75.0 215.0 140.0 459 0.35 2.3 0.39
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incl. 138.0 168.0 30.0 98 0.52 3.4 0.58
-------------------------------------------------------------------------
307.3 311.5 4.3 14 1.13 4.6 1.21
-------------------------------------------------------------------------
10018 54.0 60.0 6.0 20 0.47 0.8 0.49
-------------------------------------------------------------------------
141.0 150.0 9.0 30 0.45 2.6 0.49
-------------------------------------------------------------------------
10019 321.2 393.0 71.8 236 0.49 1.9 0.52
-------------------------------------------------------------------------
10020 18.0 156.0 138.0 453 0.46 4.1 0.53
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incl. 63.0 98.7 35.7 117 0.58 2.3 0.62
-------------------------------------------------------------------------
incl. 116.8 156.0 39.3 129 0.79 10.5 0.97
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and 116.8 132.0 15.3 50 1.55 5.9 1.65
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294.0 297.0 3.0 10 6.58 1.0 6.59
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10021 No reportable intercepts
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10022 No reportable intercepts
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10023 30.0 39.0 9.0 30 0.46 2.0 0.49
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249.0 288.0 39.0 128 1.21 2.0 1.24
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incl. 249.0 273.0 24.0 79 1.81 1.6 1.84
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and 267.0 273.0 6.0 20 5.15 2.6 5.19
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10024 No reportable intercepts
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10025 No reportable intercepts
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10026 185.0 221.0 36.0 118 0.41 2.7 0.45
-------------------------------------------------------------------------
10027 75.0 78.0 3.0 10 2.31 0.2 2.31
-------------------------------------------------------------------------
102.0 135.0 33.0 108 0.34 6.2 0.44
-------------------------------------------------------------------------
10028 26.0 65.0 39.0 128 0.14 0.5 0.15
-------------------------------------------------------------------------
10029 15.0 240.0 225.0 738 0.31 1.0 0.33
-------------------------------------------------------------------------
incl. 153.0 189.0 36.0 118 0.80 1.3 0.82
-------------------------------------------------------------------------
and 162.0 174.0 12.0 39 1.77 1.2 1.79
-------------------------------------------------------------------------
10030 18.0 42.0 24.0 79 0.83 0.9 0.85
-------------------------------------------------------------------------
10031 171.0 183.0 12.0 39 0.89 2.3 0.92
-------------------------------------------------------------------------
207.0 210.0 3.0 10 1.11 2.9 1.16
-------------------------------------------------------------------------
11032 No reportable intercepts
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11033 159.0 183.0 24.0 79 0.37 1.3 0.39
-------------------------------------------------------------------------
11034 9.1 33.0 23.9 78 0.34 3.0 0.39
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11036 10.0 31.0 21.0 69 0.25 1.3 0.27
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11037 No reportable intercepts
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11038 No reportable intercepts
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11039 Pending
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11040 15.4 171.0 155.6 511 0.58 2.9 0.63
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incl. 15.4 42.0 26.6 87 1.12 4.2 1.19
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incl. 69.0 108.0 39.0 128 0.71 3.6 0.77
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11041 Pending
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11042 Pending
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11043 Pending
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1. Gold equivalent calculations use metal prices of Au US$900/oz and
Ag US$15/oz
Metallurgical recoveries and net smelter returns are assumed to be
100%
AuEQ = (Au g/t) + (Ag g/t x 0.482/28.94).
2. Drill hole dips -90 degrees.
3. Drill hole 11035 lost, redrilled as hole 11037.
SOURCE Amarc Resources Ltd.
Copyright . 10 PR Newswire
