VANCOUVER,
Dec. 6, 2011 /PRNewswire/ - Amarc
Resources Ltd. ("Amarc" or the "Company") (TSX Venture: AHR; OTCBB:
AXREF) is pleased to announce that ongoing core drilling is
significantly expanding the Newton bulk tonnage gold discovery in
south-central British Columbia
(BC).
The Newton property lies within BC's exciting and
newly emerging gold belt, which includes New Gold's six million
ounce-plus bulk tonnage gold deposit at Blackwater. The age and
geological characteristics of the gold mineralization at Newton
demonstrate striking similarities to the mineralization at
Blackwater. Amarc has acquired an 80% interest in the Newton
property and is the operator of the Newton Joint Venture. Newton
Gold Corp. has a 20% participating interest.
Assay results have been received from the first
five delineation holes completed (11044 through 11048) and are
summarized in the Table of Assay Results below. A drill plan and
other information have been posted on Amarc's website at
www.amarcresources.com. Assaying of holes 11049, 11050/51 and 11052
is in progress. These three holes have all intersected the
felsic volcaniclastic rock unit which appears to be the favoured
host rock for gold mineralization at Newton. Two drill rigs
are working at site and have just commenced coring holes 11053 and
11054. The Joint Venture has a permit for a further 15 holes
and has recently applied to the government for a permit to drill
additional holes. Plans are to break near the end of December
for the holiday season and then continue drilling in 2012 until the
discovery is delineated.
NEWTON PROJECT
TABLE OF ASSAY RESULTS
|
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|
|
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|
|
|
|
|
|
Drill Hole |
Incl. |
From |
|
To |
|
Int. |
|
Au |
|
Ag |
|
AuEQ1 |
ID |
|
(m) |
|
(m) |
|
(m) |
|
(g/t) |
|
(g/t) |
|
(g/t) |
11044 |
|
56.4 |
|
350.0 |
|
293.6 |
|
0.61 |
|
2.3 |
|
0.65 |
11044 |
incl. |
56.4 |
|
204.0 |
|
147.6 |
|
0.73 |
|
3.1 |
|
0.79 |
11044 |
and |
56.4 |
|
92.0 |
|
35.6 |
|
1.43 |
|
6.0 |
|
1.53 |
11044 |
incl. |
272.0 |
|
338.0 |
|
66.0 |
|
0.84 |
|
1.8 |
|
0.87 |
11044 |
and |
272.0 |
|
317.0 |
|
45.0 |
|
1.02 |
|
2.0 |
|
1.05 |
11045 |
|
16.3 |
|
178.0 |
|
161.7 |
|
1.05 |
|
3.6 |
|
1.11 |
11045 |
incl. |
52.0 |
|
178.0 |
|
126.0 |
|
1.24 |
|
4.1 |
|
1.31 |
11045 |
and |
79.0 |
|
157.0 |
|
78.0 |
|
1.71 |
|
5.1 |
|
1.80 |
11045 |
and |
79.0 |
|
115.0 |
|
36.0 |
|
2.51 |
|
8.7 |
|
2.65 |
11045 |
and |
85.0 |
|
88.0 |
|
3.0 |
|
12.50 |
|
18.5 |
|
12.81 |
11046 |
|
68.0 |
|
83.0 |
|
15.0 |
|
0.23 |
|
1.7 |
|
0.26 |
11047 |
|
17.0 |
|
50.0 |
|
33.1 |
|
0.54 |
|
3.1 |
|
0.59 |
11048 |
|
34.0 |
|
175.0 |
|
141.0 |
|
0.65 |
|
1.7 |
|
0.68 |
11048 |
incl. |
34.0 |
|
49.0 |
|
15.0 |
|
0.80 |
|
4.1 |
|
0.86 |
11048 |
incl. |
73.0 |
|
109.0 |
|
36.0 |
|
1.23 |
|
2.2 |
|
1.26 |
11048 |
|
277.0 |
|
337.0 |
|
60.0 |
|
0.60 |
|
2.1 |
|
0.63 |
- Gold equivalent calculations use metal prices of Au
US$1200/oz and Ag US$20/oz. Metallurgical recoveries and net
smelter returns are assumed to be 100%.
- All holes are drilled vertical.
- Widths reported are drill widths, such that true thicknesses
are unknown. All assay intervals represent length weighted
averages
"We are extremely encouraged by the long
intercepts of bulk tonnage style gold mineralization being
intersected at Newton, as well as its continuity and grade,"
said Amarc Executive Chairman Robert
Dickinson. "We are increasingly confident that in the
months ahead Newton will be confirmed as the next major gold
discovery in BC's new emerging Blackwater-Newton gold
belt."
The current delineation drilling at Newton is
designed to determine the grade and continuity of gold
mineralization extending eastward from the 2010 discovery
zone. The discovery zone hosts drill intercepts of 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). The high
potential for a major eastern extension to the discovery zone was
indicated by hole 11040 completed at the beginning of 2011 (see
Amarc new release dated February 10,
2011). Hole 11040 returned, from surface, 155 metres of 0.58
g/t gold, including 26 metres of 1.12 g/t gold and 39 metres of
0.71 g/t gold.
Stepping out from hole 11040, the current drilling
has intercepted from surface, increased thicknesses of the
pervasively altered felsic volcaniclastic and volcanic rocks that
host disseminated sulphides and associated gold mineralization. It
is the high primary permeability of these host rocks, coupled with
their expanding geographic distribution that presents a permissive
environment for the development of a significant bulk tonnage-style
gold deposit at Newton.
Important gold intersections in drill holes now
extend over an area measuring some 900 metres by 600 metres.
Although current drilling activities are focused on extending the
discovery to the east, mineralization is open to expansion in
several directions.
The Newton property is located some 100 kilometres
west of the City of Williams Lake
in a region characterized by gently rolling hills. The district is
well served by existing transportation and power infrastructure and
a skilled workforce, which support a number of operating mines, as
well as late-stage mineral development and exploration projects.
Newton is also located some 175 kilometres south of New Gold's
Blackwater gold deposit (Indicated Resources of 184 million tonnes
at 0.94g/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).
About Amarc Resources Ltd.
Amarc is a Vancouver-based mineral exploration and
development company focused on making the next major 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
west of New Gold's Blackwater holdings.
About Hunter Dickinson Inc.
Amarc is associated with Hunter Dickinson Inc.
(HDI) - a diversified, global mining group 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.
Quality Assurance/Quality Control
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 lead collection 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 lead collection 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.
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.