VANCOUVER, Jan. 18, 2012 /PRNewswire/ - Amarc Resources Ltd.
("Amarc" or the "Company") (TSXV: AHR) (OTCBB: AXREF) is pleased to
announce that an Induced Polarization (IP) ground geophysical
survey has delineated a significant chargeability anomaly with
excellent potential to represent an important sulphide system at
its 100% owned Hubble Project, south-central British Columbia. The 140 square kilometre
Hubble property lies within the emergent Blackwater gold district.
Amarc initiated a regional program at Hubble in
2011, undertaking approximately 370 line kilometres of
helicopter-borne, magnetic and electromagnetic geophysical
surveying from which epithermal gold-silver and gold-copper
porphyry-type targets were identified for field follow-up.
An IP ground geophysical survey has identified
an important target over three square kilometres in extent. Drill
permit applications have been submitted to the provincial
government in order to test this new target for potential gold
and/or copper deposits. Amarc plans to drill test the target when
permits are received. A location map and other information
regarding Hubble Project are available on Amarc's website at
http://www.amarcresources.com/ahr/MapsFigures.asp.
"We are encouraged by the sizeable
high-quality IP chargeability anomaly delineated by our field teams
on the Hubble property which lies within, what I believe, is the
most exciting new gold belt in British
Columbia," confirmed Amarc Executive Chairman
Bob Dickinson. "This new belt
includes both the Newton gold project in the south and New Gold's
six million ounce-plus, bulk tonnage gold discovery at Blackwater only a few kilometres from
Hubble."
Hubble lies approximately 35 kilometres
northeast of New Gold's Blackwater
deposit for which an Indicated Resource 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 0.30 g/t
gold cut‐off have been announced (New Gold website). New Gold
acquired the Blackwater deposit
from Richfield Ventures Corp. in June
2011 through a transaction valued at approximately
$550 million (see New Gold news
release April 4, 2011). In addition
to the new Hubble target, Amarc recently announced the delineation
of five major sulphide systems on its 100% owned, 800 square
kilometre Galileo property located 16 kilometres west of New Gold's
Blackwater deposit (see Amarc news
release November 29, 2011). The
Galileo targets are also being readied for drill testing.
The Hubble property lies approximately 64
kilometres southwest of the town of Vanderhoof and 121 kilometres southwest of
northern BC's regional hub city of Prince
George. The region is characterized by subdued topography
and is well served by existing transportation and power
infrastructure along with a skilled workforce, which supports an
active exploration industry.
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, located to the west and east of New Gold's Blackwater holdings where Induced Polarization
ground geophysical surveys have identified six important scale
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.
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.
