Amarc
Announces Results from Phase 2 Drill Program at Newton
Amarc Resources Ltd. ("Amarc"
or the "Company")(TSX Venture: AHR; OTCBB: AXREF) announces assay
results from its recent 28-hole Phase 2 core drilling program at the Newton
bulk-tonnage gold property, located in south-central British Columbia (BC).
At the Newton property, an eight square kilometre sulphide mineralized system
has been outlined by surface geophysical surveys (see Amarc new release dated
November 30, 2010). Limited drilling within this target area by historical
operators returned unusually long intervals of highly anomalous to potentially
'ore grade', bulk tonnage-style gold mineralization within an area of
approximately two square kilometres. A 14-hole Phase 1 core drilling program
completed by Amarc in 2010 discovered an area on the eastern side of the
mineralized system that hosts potentially ore-grade gold intercepts over broad
intervals (see Amarc news release dated January 19, 2010). The Phase 2 drill
program executed a series of widely spaced, exploration-style drill holes to
further probe the extensive mineral system and the Phase 1 discovery.
Assay results from 24 holes of the Phase 2 drill program are listed below.
Drill hole location plan maps are posted on Amarc's website at http://www.amarcresources.com/ahr/MapsFigures.asp. Results from four holes are pending.
Highlights from the Phase 2 drilling include important intercepts in hole 11040
which have established that the Phase 1 discovery extends eastward under
shallow cover and remains open to the east. Hole 11040 returned 155 metres of
0.58 g/t gold starting from surface, including 26 metres of 1.12 g/t gold and
39 metres of 0.71 g/t gold. The hole is located 200 metres east of Amarc's
Phase 1 discovery drilling, which includes 69 metres of 1.41 g/t gold (hole
9001), 128 metres of 0.84 g/t gold (hole 9003) and 189 metres of 1.56 g/t gold
(hole 9004) (see detailed drill plan on Amarc's website).
Other highlights from Phase 2 holes drilled in a widely-spaced configuration
throughout the eight square kilometre mineralized system include holes 10023
and 10029 which returned 39 metres of 1.21 g/t gold and 36 metres of 0.80 g/t
gold, respectively. These intercepts indicated potential new gold zones within
the target system.
Additional highlights include intercepts in holes 10016 and 10017 which
returned 108 metres of 0.37 g/t gold and 140 metres of 0.35 g/t gold,
respectively. These broad intercepts of low grade gold mineralization indicate
a sizeable gold mineralizing event and the strong potential for higher grade
gold deposition in the general proximity.
Follow-up, Phase 3 drilling is planned as soon as possible in 2011 to continue
to test and delineate gold mineralization with the significant Newton bulk-tonnage
gold target. Drill permit applications have been submitted to the BC
government.
In addition to its option to earn an 80% interest in the Newton property from
Newton Gold Corp., Amarc holds a 100% interest in approximately 2,500 square
kilometres of mineral claims that comprise the Plateau Gold-Copper Belt,
extending to the north and south of the Newton property. The Company believes
the Plateau Gold-Copper Belt holds excellent potential for the discovery of
gold-copper porphyries and epithermal gold deposits. Surface surveys in 2010
defined three significant copper-molybdenum porphyry targets (see Amarc news
release dated August 18, 2010). Drilling permits have recently been received
from the provincial government and Amarc intends to drill high priority targets
within the Plateau Gold-Copper Belt in 2011.
Amarc's Newton and the Plateau Gold-Copper Belt properties are located some 100
kilometres southwest of the City of Williams Lake in a region characterized by
subdued topography. The district is well served by existing transportation and
power infrastructure and a skilled workforce, which support a number of
operating mines and late-stage development projects.
Amarc Resources Ltd. is a Vancouver-based exploration and development company
affiliated with Hunter Dickinson Inc. (HDI) -- a diversified, global mine
development company 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. 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.
Ronald W. Thiessen
President & CEO
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 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 fire assay fusion
with a gravimetric finish. As part of a comprehensive QA/QC program, one
standard and also one field replicate are inserted into the sample stream in
each group of 20 samples, as well as one or more field blanks in each
analytical batch.
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,
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 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.
Drill Hole
ID
|
Incl.
|
From
(m)
|
To
(m)
|
Int.
(m)
|
Int.
(ft)
|
Au
(g/t)
|
Ag
(g/t)
|
AuEQ1
(g/t)
|
10015
|
|
95.0
|
134.0
|
39.0
|
128
|
0.35
|
3.1
|
0.41
|
|
|
194.0
|
230.0
|
36.0
|
118
|
0.43
|
4.7
|
0.51
|
10016
|
|
141.0
|
249.0
|
108.0
|
354
|
0.37
|
1.5
|
0.40
|
|
incl.
|
231.0
|
249.0
|
18.0
|
59
|
0.57
|
1.8
|
0.60
|
10017
|
|
75.0
|
215.0
|
140.0
|
459
|
0.35
|
2.3
|
0.39
|
|
incl.
|
138.0
|
168.0
|
30.0
|
98
|
0.52
|
3.4
|
0.58
|
|
|
307.3
|
311.5
|
4.3
|
14
|
1.13
|
4.6
|
1.21
|
10018
|
|
54.0
|
60.0
|
6.0
|
20
|
0.47
|
0.8
|
0.49
|
|
|
141.0
|
150.0
|
9.0
|
30
|
0.45
|
2.6
|
0.49
|
10019
|
|
321.2
|
393.0
|
71.8
|
236
|
0.49
|
1.9
|
0.52
|
10020
|
|
18.0
|
156.0
|
138.0
|
453
|
0.46
|
4.1
|
0.53
|
|
incl.
|
63.0
|
98.7
|
35.7
|
117
|
0.58
|
2.3
|
0.62
|
|
incl.
|
116.8
|
156.0
|
39.3
|
129
|
0.79
|
10.5
|
0.97
|
|
and
|
116.8
|
132.0
|
15.3
|
50
|
1.55
|
5.9
|
1.65
|
|
|
294.0
|
297.0
|
3.0
|
10
|
6.58
|
1.0
|
6.59
|
10021
|
No reportable intercepts
|
10022
|
No reportable intercepts
|
10023
|
|
30.0
|
39.0
|
9.0
|
30
|
0.46
|
2.0
|
0.49
|
|
|
249.0
|
288.0
|
39.0
|
128
|
1.21
|
2.0
|
1.24
|
|
incl.
|
249.0
|
273.0
|
24.0
|
79
|
1.81
|
1.6
|
1.84
|
|
and
|
267.0
|
273.0
|
6.0
|
20
|
5.15
|
2.6
|
5.19
|
10024
|
No reportable intercepts
|
10025
|
No reportable intercepts
|
10026
|
|
185.0
|
221.0
|
36.0
|
118
|
0.41
|
2.7
|
0.45
|
10027
|
|
75.0
|
78.0
|
3.0
|
10
|
2.31
|
0.2
|
2.31
|
|
|
102.0
|
135.0
|
33.0
|
108
|
0.34
|
6.2
|
0.44
|
10028
|
|
26.0
|
65.0
|
39.0
|
128
|
0.14
|
0.5
|
0.15
|
10029
|
|
15.0
|
240.0
|
225.0
|
738
|
0.31
|
1.0
|
0.33
|
|
incl.
|
153.0
|
189.0
|
36.0
|
118
|
0.80
|
1.3
|
0.82
|
|
and
|
162.0
|
174.0
|
12.0
|
39
|
1.77
|
1.2
|
1.79
|
10030
|
|
18.0
|
42.0
|
24.0
|
79
|
0.83
|
0.9
|
0.85
|
10031
|
|
171.0
|
183.0
|
12.0
|
39
|
0.89
|
2.3
|
0.92
|
|
|
207.0
|
210.0
|
3.0
|
10
|
1.11
|
2.9
|
1.16
|
11032
|
No reportable intercepts
|
11033
|
|
159.0
|
183.0
|
24.0
|
79
|
0.37
|
1.3
|
0.39
|
11034
|
|
9.1
|
33.0
|
23.9
|
78
|
0.34
|
3.0
|
0.39
|
11036
|
|
10.0
|
31.0
|
21.0
|
69
|
0.25
|
1.3
|
0.27
|
11037
|
No reportable intercepts
|
11038
|
No reportable intercepts
|
11039
|
Pending
|
11040
|
|
15.4
|
171.0
|
155.6
|
511
|
0.58
|
2.9
|
0.63
|
|
incl.
|
15.4
|
42.0
|
26.6
|
87
|
1.12
|
4.2
|
1.19
|
|
incl.
|
69.0
|
108.0
|
39.0
|
128
|
0.71
|
3.6
|
0.77
|
11041
|
Pending
|
11042
|
Pending
|
11043
|
Pending
|
- Gold equivalent calculations use metal prices of Au US$900/oz and
Ag US$15/oz
Metallurgical recoveries and net smelter returns are assumed to be 100%
AuEQ = (Au g/t) + (Ag g/t x 0.482/28.94).
- Drill hole dips -90 degrees.
- Drill hole 11035 lost, redrilled as hole
11037.
|