VANCOUVER, Nov. 29, 2011 /PRNewswire/ - Amarc Resources Ltd.
("Amarc" or the "Company") (TSX Venture: AHR) (OTCBB: AXREF) is
pleased to announce that Induced Polarization (IP) field
geophysical surveys indicate potential for five major sulphide
mineralized systems at its 100% owned Galileo Project, located in
south-central British Columbia
(BC). The 800 square kilometre Galileo claims package lies
within the emergent Blackwater gold district.
Four of the defined Galileo targets areas have
similar dimensions to, or exceed that of the eight square kilometre
sulphide system at the Newton project, some 175 kilometres to the
south, where drilling is currently underway to delineate a new gold
deposit discovery. Drill permit applications have been
submitted to the provincial government in order to test the
promising Galileo targets for potential gold and/or copper
deposits. Once permits are received, Amarc plans to
methodically drill test all of these compelling targets.
"We are extremely encouraged by the sizeable
high-quality IP chargeability anomalies delineated by our field
teams on the Galileo property," confirmed Amarc Executive
Chairman Bob Dickinson. "Our
Galileo property lies within, what I believe, is the most exciting
new gold belt in British Columbia
which includes the Newton gold project to the south. Within this
belt Galileo lies only a few kilometers from New Gold's five
million ounce-plus, bulk tonnage gold discovery at Blackwater and
the notable silver and gold deposits being advanced at Capoose and
3Ts."
Amarc initiated its 2011 field program at
Galileo by undertaking approximately 4,000 line kilometres of
helicopter-borne, magnetic and electromagnetic geophysical
surveying (see property location maps at
www.amarcresources.com). By combining results of the airborne
survey with in-house geological knowledge and publicly available
geological and geochemical data, a number of deposit scale targets
were identified for field evaluation. More than 140 line kilometres
of follow-up, field based IP ground geophysical surveys, over these
high-quality epithermal gold-silver and porphyry gold-copper-type
targets have determined that there is potential for these five
target areas to represent important sulphide systems that require
drill testing.
Galileo is located some 16 kilometres west of
New Gold's Blackwater gold deposit (Indicated Resources of 184
million tonnes at 0.94 g/t gold and 4.9 g/t silver and Inferred
Resources of 43 million tonnes at 0.88 g/t gold and 4.7 g/t silver
at a 0.3 g/t gold cut-off, New Gold website). It is also 13
kilometres south of the Capoose silver-gold deposit (Indicated
Resource of 39 million tonnes at 0.34 g/t gold and 23.7 g/t silver
and Inferred Resource of 50 million tonnes at 0.32 g/t gold and
21.2 g/t silver at a 0.3g/t gold cut-off, Silver Quest website) and
three kilometres west of the 3T's vein gold deposit (where best
intercepts include 14 metres of 5.33 g/t gold and 50.6 g/t silver,
3.7 metres at 7.69 g/t gold and 84.2 g/t silver, 17.2 metres of
2.68 g/t gold and 152.1 g/t silver, Silver Quest website).
The Galileo property lies approximately 135
kilometres southwest of the town of Vanderhoof and 176 kilometres southwest of
northern BC's regional hub city of Prince
George. The area is characterized by subdued topography and
is well served by existing transportation and power infrastructure
and a skilled workforce, which supports an active exploration
industry.
Amarc is a Vancouver-based mineral exploration and
development company focused on making the next gold discovery in
BC. Its exploration activities are focused on the Newton gold
discovery through a Joint Venture with Newton Gold Corp. (Amarc
80%: Newton Gold Corp. 20%) and at its 100% owned Galileo property
adjacent to New Gold's Blackwater holdings. Amarc is associated
with Hunter Dickinson Inc. (HDI) - a diversified, global mining
group 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.
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, potential environmental issues or
liabilities associated with exploration, development and mining
activities, 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 and the effect 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.
