VANCOUVER,
Feb. 8, 2012 /PRNewswire/ - Amarc
Resources Ltd. ("Amarc" or the "Company") (TSXV: AHR; OTCBB: AXREF)
is pleased to announce assay results from the last three
delineation drill holes completed in 2011 at the Newton gold
discovery, south-central British
Columbia. Assay results from drill holes 11053, 11054
and 11055 continue to confirm an extensive and robust gold system
has been discovered at Newton. Delineation drilling has now
recommenced at the Newton site with two rigs working. Amarc plans
to continue drilling until the deposit is fully delineated.
The long intercepts of bulk tonnage style gold
mineralization encountered in holes 11053 through 11055 bring the
number of holes drilled with important gold results to 46.
These holes are located over an area that currently measures 900
metres by 600 metres and is open to expansion in several
directions. The age and geological characteristics of the gold
mineralization at Newton demonstrate striking similarities to the
mineralization at New Gold's Blackwater deposit located to the
north. Amarc (TSXV: AHR; OTCBB: AXREF) owns an 80% interest
in the Newton property and is the operator of the Newton Joint
Venture. Newton Gold Corp. (TSXV: NWG) has a 20% participating
interest.
Results from holes 11053, 11054 and 11055 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 www.amarcresources.com/ahr/MapsFigures.asp.
NEWTON PROJECT TABLE OF ASSAY RESULTS
Drill Hole |
Incl. |
From |
To |
Int. |
Au |
Ag |
AuEQ1 |
ID |
|
(m) |
(m) |
(m) |
(g/t) |
(g/t) |
(g/t) |
11053 |
|
79 |
94 |
15 |
0.47 |
1.9 |
0.50 |
11053 |
|
166 |
187 |
21 |
0.65 |
1.4 |
0.67 |
11053 |
|
235 |
271 |
36 |
0.87 |
1.5 |
0.90 |
11053 |
incl. |
235 |
238 |
3 |
3.58 |
1.4 |
3.60 |
11053 |
and |
256 |
259 |
3 |
4.89 |
3.5 |
4.95 |
11053 |
|
445 |
475 |
30 |
0.64 |
1.0 |
0.66 |
11054 |
|
43 |
442 |
399 |
0.50 |
2.4 |
0.54 |
11055 |
|
30 |
151 |
121 |
0.70 |
2.4 |
0.74 |
11055 |
incl. |
78 |
151 |
73 |
0.86 |
2.0 |
0.90 |
11055 |
|
238 |
286 |
48 |
0.57 |
2.8 |
0.62 |
- 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 vertically.
- Widths reported are drill widths, such that true thicknesses
are unknown. All assay intervals represent length weighted
averages.
Amarc Executive Chairman Robert Dickinson said, "We are increasingly
confident that ongoing drilling at Newton will confirm this deposit
as the next major gold discovery in BC's emerging Blackwater-Newton
gold belt."
Amarc drilling is intersecting increased
thicknesses of pervasively altered felsic volcanic rocks that host
disseminated sulphides and associated gold mineralization. It is
the high primary permeability of these favourable host rocks,
coupled with evidence for their expanding geographic distribution
that presents a permissive environment for the development of a
major bulk tonnage-style gold deposit.
The Newton property is located some 100 kilometres
west of the City of Williams Lake,
BC 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 located approximately 175
kilometres south of New Gold's Blackwater gold deposit (Indicated
Resources of 164 million tonnes at an average grade of 1.03 g/t
gold containing 5.42 million ounces; and Inferred Resources of 69
million tonnes at an average grade of 0.84 g/t gold containing 1.86
million ounces; New Gold news release February 2, 2012).
In addition to the Newton project, Amarc also owns
a 100% interest in the 800 square kilometre Galileo property and
the 140 square kilometre Hubble property located to the west and
east, respectively, of New Gold's Blackwater property.
Extensive Induced Polarization geophysical surveys recently
conducted by Amarc over these two properties indicate strong
potential for six important new sulphide mineralized systems.
Four of the defined target areas have similar
dimensions to, or exceed that, of the eight square kilometre
sulphide system at Newton. Drill permit applications have
been submitted to the provincial government in order to test these
promising targets for potential gold and/or copper deposits.
Once permits are received, Amarc plans to methodically drill test
all of the compelling targets identified at Galileo and Hubble.
The Galileo and Hubble properties lie 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, existing transportation and power infrastructure and a
skilled workforce which supports an active mineral 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.
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 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.