VANCOUVER, June 28, 2012 /PRNewswire/ - Amarc Resources Ltd.
("Amarc" or the "Company") (TSX Venture: AHR; OTCBB: AXREF)
announces that field evaluation of five extensive, sulphide
mineralized systems defined in 2011 by Induced Polarization (IP)
ground geophysical surveys has commenced at its 100%-owned Galileo
Project, located in south-central British
Columbia (BC). The approximately 990 square kilometre
Galileo property lies 16 kilometres west of New Gold's seven
million ounce-plus bulk tonnage gold discovery at Blackwater and
proximal to the notable gold-silver deposits at Capoose and
3Ts.
"We are very encouraged by the extensive IP
chargeability anomalies delineated last year on the Galileo
property," confirmed Amarc Executive Chairman Bob Dickinson. "Our field teams are now out
on Galileo mapping and sampling over these five target areas so
that they can be prioritized for drilling. In addition, results
received from recent airborne geophysical surveys over our expanded
claim position in the Blackwater region have identified further
deposit-scale targets for ground follow up."
In 2011 Amarc completed 4,000 line kilometres of
helicopter-borne magnetic and electromagnetic geophysical surveys
from which a number of deposit-scale targets were identified for
field evaluation. More than 140 line kilometres of follow-up IP
ground geophysical surveys over these epithermal gold-silver and
porphyry gold-copper-type targets identified five target areas with
the potential to represent important sulphide systems (see maps at
http://www.amarcresources.com/ahr/MapsFigures.asp). Four of the
defined Galileo targets areas have similar or greater dimensions
than the eight square kilometre sulphide system at the Newton
project, some 175 kilometres to the south. Amarc crews are now in
the field carrying out geological mapping and soil and rock
geochemical sampling over these five target areas so that drill
priorities can be established.
In addition, the Company recently completed some
600 line kilometres of helicopter-borne, magnetic geophysical
surveying over new mineral claims that have been added to the
Galileo land package. A number of encouraging deposit scale targets
have been identified for field evaluation this season. Permit
applications for IP ground geophysical surveys over the new areas
have been submitted to government.
Analytical results have also been received from
an initial diamond drill program at Amarc's 100%-owned Hubble
property, located approximately 35 kilometres northeast of New
Gold's Blackwater deposit. A 700 metre drill program was completed
to test a three square kilometre chargeability anomaly defined by
IP ground geophysical surveys completed last year. The recent
drilling encountered broad intervals of pyrite-bearing lithologies
but no economic mineralization.
Exploration activities are ongoing at Hubble
with 33 line kilometres of helicopter-borne, magnetic and
electromagnetic geophysical surveying being recently completed over
new mineral claims which have been added to the property. In
addition, field crews will carry out geological mapping and soil
and rock geochemical sampling over select areas within the
property. A location map and other information regarding the Hubble
Project are available on Amarc's 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. In addition a skilled local workforce supports an
active mineral exploration industry.
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.
About Amarc Resources Ltd.
Amarc is a Vancouver-based mineral exploration and
development company focused on making the next major gold discovery
in BC. With a strong working capital position of $11.5 million, its exploration activities are
focused on its 100% owned Newton gold discovery and the Galileo
property which lies adjacent to New Gold's Blackwater property.
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.
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.
