VANCOUVER, Sept. 18, 2014 /CNW/ - Amarc Resources Ltd. ("Amarc" or the "Company") (TSX-V: AHR; OTCBB: AHR) announces that further to information provided in the Company's MD&A dated August 14, 2014, an exploration drill program has recently been completed at IKE. IKE is a compelling porphyry copper-molybdenum-silver deposit target located approximately 40 kilometres northwest of Gold Bridge, British Columbia.
The nine hole (5,400 metres) core drilling program was designed as an initial test to confirm if IKE is an important porphyry system, deserving of more detailed exploration work going forward. Chalcopyrite and molybdenite mineralization was observed by site geologists in varying amounts and continuities in a number of the holes drilled. All core samples have been delivered to the assay laboratory and assay results are expected to be received, compiled and released within a month.
Also as provided in the Company's MD&A dated August 14, 2014, Amarc has acquired two new mineral tenures adjacent to the IKE mineral property. The Company can acquire a 70% interest in the Galore claims and has acquired a 100% interest in the Great Quest claims (see www.amarcresources.com for details of these mineral claim acquisitions). The Company believes that these additional mineral tenures have the potential to host bulk tonnage copper‐molybdenum (silver and gold) porphyry mineralization. The Company is currently in the process of compiling a large quantity of historical data from these additional holdings.
About the IKE Property
Amarc has the right to acquire a 100% interest in the IKE mineral property from two individuals. Based on historical field programs, including limited drilling by previous operators, IKE is a compelling, important scale, copper-molybdenum-silver porphyry target. Three key historical drill holes (81-02, 11-1 and 11-2) spaced 220 metres apart intercepted long intervals of continuous, chalcopyrite and molybdenite, mineralization with encouraging grades. These intersections include: 182 metres of 0.42% copper equivalent (CuEQ)1 comprising 0.31% Cu, 0.022% Mo and 1.9 g/t Ag; 64 metres of 0.51% CuEQ, comprising 0.37% Cu, 0.024% Mo and 4.7 g/t Ag; and 116 metres of 0.46% CuEQ comprising 0.29% Cu and 0.043% Mo. All three of these historical holes ended in mineralization.
About Amarc Resources Ltd.
Amarc is a Vancouver-based mineral exploration and development company with an experienced and successful management team that is focused on making the next major copper porphyry deposit discovery in British Columbia ("BC"). Amarc's primary asset is the IKE property which is located in central BC, the heartland of the Province's copper mining industry. Amarc is now waiting for assays from an initial and recently completed, 9 drill hole (5,400 metres) test of the IKE target. All assay results from this program are expected to be received, compiled and released within one month's time.
Amarc is associated with Hunter Dickinson Inc. ("HDI") a diversified global mining company with a 25 year history of porphyry discovery and development success. Previous and current HDI porphyry projects, which include some of BC's and also the world's most important mineral resources, are Mt. Milligan, Kemess, Gibraltar, Prosperity, Xietongmen, Florence, Sisson, Maggie and Pebble. From its head office in Vancouver, Canada, HDI applies its unique strengths and capabilities to acquire, develop, operate and monetize mineral properties to provide superior returns to shareholders.
Mark Rebagliati, P. Eng., a Qualified Person as defined under National Instrument 43-101, has reviewed the technical content of this release.
ON BEHALF OF THE BOARD
Robert A. Dickinson
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. 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. 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 tenure 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.
1 Copper equivalent (CuEQ) calculations used metal prices of: Cu US$3.00/lb, Mo US$12.00/lb and Ag US$20/oz. Metallurgical recoveries and net smelter returns are assumed to be 100%.
SOURCE Amarc Resources Ltd.
For further details on Amarc Resources Ltd., please visit the Company's website at www.amarcresources.com or contact Investor Services at (604) 684-6365 or within North America at 1-800-667-2114.Copyright CNW Group 2014