VANCOUVER, Oct. 3, 2018 /CNW/ - Amarc Resources Ltd.
("Amarc" or the "Company") (TSX-V: AHR; OTCBB: AXREF) is pleased to
announce a core drilling program has commenced at its JOY porphyry
copper-gold project, which covers the northern extension to the
prolific Kemess porphyry gold-copper district in north-central
British Columbia.
The planned 1,000-m drill program will include two widely spaced
core holes, following up on one of a number of priority porphyry
deposit targets emerging from extensive airborne and surface
induced polarization, soil geochemical and geological mapping
exploration surveys completed in 2018. These initial holes are
designed to test one of several newly identified sulphide systems
for the presence of a major gold-copper deposit. Funding for
the drill program is in addition to the previously announced
$2 million spent on the 2018
exploration programs at JOY. The 2018 programs are being
funded by Hudbay Minerals Inc., which has partnered with Amarc to
explore and develop the JOY project.
Data from the 2018 surface surveys is still being received and
integrated with Amarc's previous and historical data. A number of
compelling gold-copper deposit targets are emerging for drill
testing both this year and next season. Once all data from
this year's surveys is received and compiled results will be
released.
About Amarc Resources Ltd.
Amarc is a mineral exploration and development company with an
experienced and successful management team focused on developing a
new generation of BC porphyry copper mines. By combining
strong projects and funding with successful management, Amarc has
created a solid platform to create value from its exploration and
development-stage programs.
Amarc is advancing its three 100% owned IKE, DUKE and JOY
porphyry copper deposit projects, located in different prolific
porphyry districts in southern, central and northern BC,
respectively, each with proximity to industrial infrastructure,
power, highways and rail. These projects represent
significant potential for the discovery of multiple and
important-scale, porphyry gold-copper and copper-molybdenum
deposits. Hudbay Minerals Inc. is funding development of the IKE
and JOY projects in partnership with Amarc, which is operating
these exploration and development programs. Amarc is sole funding
its DUKE Project. Please see corporate presentation available on
Amarc's website at www.amarcresources.com.
Amarc is associated with Hunter Dickinson Inc. ("HDI"), a
diversified, global mining company with a 30-year history of
porphyry discovery and development success. Previous and
current HDI porphyry projects included some of BC's and the world's
most important mineral resources – such as Pebble, Mount Milligan,
Kemess South, Kemess North, Gibraltar, Prosperity, Xietongmen, Newtongmen,
Florence, Sisson, Maggie and IKE. From its head office in
Vancouver, Canada, HDI applies its
unique strengths and capabilities to acquire, develop, operate and
monetize mineral projects to provide superior returns to
shareholders.
Amarc is working with government, stakeholders and First Nations
toward the responsible development of its projects, and manages an
ongoing program of community and regional outreach for each of its
projects. These efforts include the provision of jobs,
training programs, contract opportunities, capacity funding and
sponsorship of community events. The Company also seeks to
establish comprehensive partnership discussions with local First
Nations at the earliest stages of project development with the goal
of establishing progressive agreements. All work programs are
carefully planned to achieve high levels of environmental and
social performance.
Qualified Person as Defined Under National Instrument
43-101
Mark Rebagliati, P. Eng., a
Qualified Person as defined under National Instrument 43-101, has
reviewed and approved the technical content of this release.
ON BEHALF OF THE BOARD
Ronald W. Thiessen
Chief Executive Officer
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 news release includes certain statements
that may be deemed "forward-looking statements". All such
statements, 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. Assumptions used by the Company to
develop forward-looking statements include the following: Amarc's
projects will obtain all required environmental and other permits
and all land use and other licenses, studies and exploration of
Amarc's projects will continue to be positive, and no geological or
technical problems will occur. The Company cannot guarantee that
the Consolidated Loan and issuance of securities contemplated by
this release will complete. There is no certainty that the
Company will be able to repay the Consolidated Loan or any other
outstanding debt or liability of the Company in a timely manner or
at all. 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, exploitation
and exploration successes, continuity of mineralization,
uncertainties related to the ability to obtain necessary permits,
licenses and tenure and delays due to third party opposition,
changes in and the effect of government policies regarding mining
and natural resource exploration and exploitation, exploration and
development of properties located within Aboriginal groups asserted
territories may affect or be perceived to affect asserted
aboriginal rights and title, which may cause permitting delays or
opposition by Aboriginal groups, 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.
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SOURCE Amarc Resources Ltd.
