VANCOUVER, Jan. 9, 2012 /PRNewswire/ - Amarc Resources Ltd.
("Amarc" or the "Company") (TSX Venture: AHR; OTCBB: AXREF) is
pleased to announce that delineation drilling continues to expand
the Newton bulk tonnage gold discovery in south-central
British Columbia (BC). Assay
results have been received from drill hole 11049, which intersected
two major gold mineralized intervals. Important gold results have
now been returned from drill intersections throughout an area that
currently measures 900 metres by 600 metres and is open to
expansion in several directions.
Results from hole 11049, together with those
from the first five delineation holes (11044 through 11048, see
Amarc news release December 6, 2011),
are summarized in the Table of Assay Results below. A drill plan
and other information regarding the Newton Project are available on
Amarc's website at
http://www.amarcresources.com/ahr/MapsFigures.asp.
NEWTON PROJECT
TABLE OF ASSAY RESULTS
|
|
|
|
|
|
|
|
Drill Hole
ID |
Incl. |
From
(m) |
To
(m) |
Int.
(m) |
Au
(g/t) |
Ag
(g/t) |
AuEQ1
(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 |
11049 |
|
23.5 |
144.0 |
120.5 |
0.86 |
2.2 |
0.90 |
11049 |
Incl. |
23.5 |
84.0 |
60.5 |
1.21 |
2.3 |
1.24 |
11049 |
|
213.0 |
342.0 |
129.0 |
0.71 |
3.4 |
0.76 |
11049 |
Incl. |
228.0 |
261.0 |
33.0 |
1.00 |
5.2 |
1.08 |
11049 |
Incl. |
297.0 |
315.0 |
18.0 |
1.40 |
2.3 |
1.43 |
- 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.
The Newton property lies within BC's exciting
and newly emerging gold belt, which includes New Gold's six million
ounce-plus Blackwater gold deposit. 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.
"We continue to be 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 confident that Newton will be
confirmed as the next major gold discovery in BC's new emerging
Blackwater-Newton gold belt."
Assaying of holes 11050 through 11055 is in
progress and results will be released as they are received and
compiled. Drilling has stopped for the holiday season. Plans are to
recommence drilling in late January
2012 and to continue drilling until the discovery is
delineated.
Drilling at Newton is progressively stepping out
from the discovery drill holes and has intersected from surface,
increased thicknesses of the pervasively altered felsic volcanic
rocks that host disseminated sulphides and associated gold
mineralization. It is the high primary permeability of these
favoured 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.
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 0.94 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).
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 its 100% owned Galileo and Hubble
properties. Induced Polarization ground geophysical surveys on the
latter properties, located to the west and east of New Gold's
Blackwater holdings, have identified seven large anomalies.
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 or preparation
duplicate 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.