592 Metres of 0.44% CuEQ @ 0.30% Cu, 0.032% Mo
and 2.1 g/t Ag
VANCOUVER, Dec. 9, 2015 /CNW/ - Amarc Resources Ltd.
("Amarc" or the "Company") (TSXV: AHR; OTCBB: AXREF) is pleased to
announce that results from the 2015 drill program and other
completed field surveys, confirm the growing importance of the IKE
copper-molybdenum-silver porphyry discovery and potential of the
adjacent district. Thompson Creek Metals Company Inc.
("Thompson Creek") (NYSE:TC; TSX:TCM) funded the work programs at
IKE in 2015, and can earn up to a 50% interest in the project
through a staged funding process that includes the completion of a
Feasibility Study. IKE is located 45 kilometres northwest of
Gold Bridge, in south-central
British Columbia ("BC") near the
heartland of BC's producing porphyry copper mines. A new corporate
presentation is available on the Amarc website at
http://www.amarcresources.com.
Assay results have been received from the nine hole, 5,028
metre, diamond drill program completed at IKE this year.
These holes (numbered 15010 through 15018) and the nine holes
(14001 through 14009) totaling 5,409 metres completed in 2014, have
all intersected varying amounts of chalcopyrite and molybdenite
mineralization over an increasingly broad area, now measuring 1,200
metres east-west by 1,000 metres north-south and extending to
depths of over 500 metres. Copper equivalent grades returned over
long continuous drill intercepts continue to compare favourably to
the range of copper equivalent grades for mineral resources and
mineral reserves at active BC porphyry copper (± molybdenum ± gold
± silver) mines. Mineralization encountered by the drilling at IKE
remains open to expansion in all lateral directions and to
depth.
Assay data from Amarc's 18 drill holes combined with results
from geological, geochemical and geophysical surveys completed
outwards from the area drilled indicate the presence of an
important porphyry-style copper-molybdenum-silver deposit. The IKE
discovery, together with the surrounding district of additional
prospective porphyry copper (±molybdenum±silver±gold) targets that
remain to be drill tested, have the potential to possess the grades
and resources necessary to develop into an important mining camp.
In addition to the main IKE mineral property, Amarc has
secured extensive mineral claims in the region to cover these
compelling deposit targets, as well as potential infrastructure
sites.
Highlights from the 2015 drill program include:
- 124 metres of 0.45% CuEQ1 @ 0.34% Cu, 0.022% Mo and
3.2 g/t Ag
- 214 metres of 0.37% CuEQ @ 0.26% Cu, 0.023% Mo and 2.2 g/t
Ag
- 592 metres of 0.44% CuEQ @ 0.30% Cu, 0.032% Mo and 2.1 g/t
Ag
- 86 metres of 0.47% CuEQ @ 0.33% Cu, 0.032% Mo and 2.2 g/t
Ag
- 111 metres of 0.36% CuEQ @ 0.30% Cu, 0.010% Mo and 2.3 g/t
Ag
1 Copper equivalent (CuEQ) calculations use metal
prices: Cu US$2.25/lb, Mo
US$8.00/lb and Ag US$17.00/oz. Metallurgical recoveries and net
smelter returns are assumed to be 100%.
Assay results from all of Amarc's 2014 and 2015 drill holes are
summarized in the table below. In addition, a drill plan,
cross sections, maps and further results from the 2014 and 2015
programs are presented in the corporate presentation on the Amarc
website at http://www.amarcresources.com.
IKE
DISCOVERY
|
TABLE OF 2014 and
2015 ASSAY RESULTS
|
Drill
Hole
ID
|
Dip
(°)
|
Azim
(°)
|
EOH
(m)
|
Incl.
|
From
(m)
|
To
(m)
|
Int.2,3
(m)
|
CuEQ¹
(%)
|
Cu
(%)
|
Mo
(%)
|
Ag
(g/t)
|
IK14001
|
-45
|
0
|
742.2
|
|
55.0
|
213.7
|
158.7
|
0.37
|
0.27
|
0.020
|
2.5
|
|
|
|
|
|
242.0
|
489.0
|
247.0
|
0.41
|
0.28
|
0.030
|
2.0
|
|
|
|
|
incl.
|
242.0
|
275.0
|
33.0
|
0.43
|
0.35
|
0.011
|
4.1
|
|
|
|
|
incl.
|
284.6
|
362.5
|
77.9
|
0.43
|
0.31
|
0.027
|
2.0
|
|
|
|
|
incl.
|
372.9
|
395.2
|
22.3
|
0.43
|
0.25
|
0.045
|
1.7
|
|
|
|
|
incl.
|
404.1
|
489.0
|
84.9
|
0.48
|
0.30
|
0.045
|
1.7
|
|
|
|
|
|
528.0
|
634.6
|
106.6
|
0.28
|
0.23
|
0.009
|
1.9
|
IK14002
|
-45
|
100
|
551.1
|
|
57.3
|
180.1
|
122.8
|
0.41
|
0.32
|
0.017
|
2.5
|
|
|
|
|
|
206.0
|
494.6
|
288.6
|
0.39
|
0.24
|
0.038
|
1.6
|
|
|
|
|
incl.
|
206.0
|
440.0
|
234.0
|
0.42
|
0.26
|
0.040
|
1.7
|
|
|
|
|
and
|
206.0
|
364.0
|
158.0
|
0.44
|
0.26
|
0.046
|
1.7
|
|
|
|
|
and
|
368.5
|
440.0
|
71.5
|
0.40
|
0.27
|
0.031
|
1.7
|
|
|
|
|
|
521.7
|
551.1
|
29.4
|
0.42
|
0.15
|
0.076
|
0.6
|
IK14003
|
-60
|
180
|
419.4
|
|
10.2
|
102.0
|
91.8
|
0.40
|
0.31
|
0.020
|
2.1
|
|
|
|
|
|
282.0
|
365.0
|
83.0
|
0.19
|
0.08
|
0.029
|
0.7
|
IK14004
|
-50
|
90
|
388.6
|
|
128.0
|
189.0
|
61.0
|
0.27
|
0.13
|
0.036
|
0.9
|
IK14005
|
-60
|
0
|
772.7
|
|
32.0
|
80.0
|
48.0
|
0.27
|
0.23
|
0.007
|
1.4
|
|
|
|
|
|
269.4
|
552.3
|
282.9
|
0.43
|
0.29
|
0.038
|
0.7
|
|
|
|
|
incl.
|
269.4
|
463.2
|
193.8
|
0.47
|
0.30
|
0.046
|
0.8
|
|
|
|
|
|
602.9
|
616.1
|
13.2
|
0.33
|
0.29
|
0.009
|
0.6
|
IK14006
|
-45
|
90
|
681.8
|
|
9.0
|
75.0
|
66.0
|
0.25
|
0.21
|
0.008
|
1.3
|
|
|
|
|
|
124.0
|
574.3
|
450.3
|
0.36
|
0.24
|
0.028
|
1.7
|
|
|
|
|
incl.
|
124.0
|
432.2
|
308.2
|
0.39
|
0.26
|
0.032
|
1.8
|
|
|
|
|
and
|
124.0
|
207.8
|
83.8
|
0.42
|
0.31
|
0.026
|
2.2
|
|
|
|
|
and
|
216.4
|
258.0
|
41.6
|
0.42
|
0.30
|
0.024
|
2.8
|
|
|
|
|
and
|
381.9
|
432.2
|
50.4
|
0.69
|
0.35
|
0.088
|
1.8
|
|
|
|
|
incl.
|
441.9
|
490.0
|
48.1
|
0.44
|
0.27
|
0.044
|
1.8
|
|
|
|
|
|
671.0
|
681.8
|
10.8
|
0.33
|
0.28
|
0.007
|
2.0
|
IK14007
|
-60
|
90
|
688.5
|
|
7.9
|
24.9
|
17.0
|
0.30
|
0.22
|
0.020
|
1.1
|
|
|
|
|
|
139.5
|
167.0
|
27.5
|
0.24
|
0.06
|
0.051
|
0.5
|
|
|
|
|
|
223.0
|
274.0
|
51.0
|
0.22
|
0.05
|
0.048
|
0.5
|
|
|
|
|
|
304.0
|
411.9
|
107.9
|
0.23
|
0.12
|
0.030
|
0.7
|
IK14008
|
-45
|
90
|
788.8
|
|
135.4
|
168.0
|
32.6
|
0.30
|
0.24
|
0.009
|
2.0
|
|
|
|
|
|
233.0
|
258.5
|
25.5
|
0.33
|
0.23
|
0.023
|
1.5
|
|
|
|
|
|
278.1
|
567.0
|
288.9
|
0.36
|
0.27
|
0.022
|
1.6
|
|
|
|
|
incl.
|
287.7
|
384.3
|
96.6
|
0.45
|
0.32
|
0.030
|
2.2
|
|
|
|
|
incl.
|
418.7
|
462.8
|
44.0
|
0.38
|
0.31
|
0.015
|
1.8
|
|
|
|
|
incl.
|
484.0
|
564.0
|
80.0
|
0.38
|
0.30
|
0.018
|
1.6
|
|
|
|
|
|
605.0
|
648.0
|
43.0
|
0.25
|
0.20
|
0.012
|
1.0
|
IK14009
|
-45
|
270
|
376.1
|
|
10.5
|
200.0
|
189.5
|
0.23
|
0.16
|
0.018
|
1.1
|
|
|
|
|
incl.
|
10.5
|
98.0
|
87.5
|
0.28
|
0.20
|
0.019
|
1.4
|
|
Drill
Hole
ID
|
Dip
(°)
|
Azim
(°)
|
EOH
(m)
|
Incl.
|
From
(m)
|
To
(m)
|
Int.2,3
(m)
|
CuEQ¹
(%)
|
Cu
(%)
|
Mo
(%)
|
Ag
(g/t)
|
IK15010
|
-45
|
88
|
615.0
|
|
207.0
|
417.0
|
210.0
|
0.40
|
0.30
|
0.018
|
2.9
|
|
|
|
|
Incl.
|
207.0
|
268.0
|
61.0
|
0.40
|
0.31
|
0.016
|
2.9
|
|
|
|
|
Incl.
|
293.0
|
417.0
|
124.0
|
0.45
|
0.34
|
0.022
|
3.2
|
|
|
|
|
and
|
293.0
|
358.0
|
65.0
|
0.53
|
0.39
|
0.028
|
3.7
|
|
|
|
|
and
|
378.0
|
417.0
|
39.0
|
0.41
|
0.32
|
0.016
|
2.9
|
|
|
|
|
|
444.0
|
603.0
|
159.0
|
0.28
|
0.22
|
0.011
|
2.1
|
IK15011
|
-45
|
88
|
486.3
|
|
20.1
|
60.0
|
40.0
|
0.42
|
0.31
|
0.023
|
2.5
|
IK15012
|
-45
|
88
|
675.0
|
|
213.0
|
516.0
|
303.0
|
0.34
|
0.25
|
0.018
|
2.1
|
|
|
|
|
Incl.
|
213.0
|
286.0
|
73.0
|
0.33
|
0.28
|
0.008
|
2.2
|
|
|
|
|
Incl.
|
301.9
|
516.0
|
214.2
|
0.37
|
0.26
|
0.023
|
2.2
|
|
|
|
|
and
|
301.9
|
371.3
|
69.4
|
0.45
|
0.32
|
0.028
|
3.0
|
|
|
|
|
and
|
423.0
|
516.0
|
93.0
|
0.39
|
0.29
|
0.022
|
2.0
|
|
|
|
|
|
549.5
|
558.0
|
8.5
|
0.47
|
0.35
|
0.026
|
3.0
|
IK15013
|
-45
|
88
|
693.3
|
|
33.0
|
693.3
|
660.3
|
0.41
|
0.28
|
0.030
|
2.0
|
|
|
|
|
Incl.
|
75.0
|
666.5
|
591.5
|
0.44
|
0.30
|
0.032
|
2.1
|
|
|
|
|
and
|
75.0
|
99.0
|
24.0
|
0.42
|
0.24
|
0.044
|
1.9
|
|
|
|
|
and
|
129.0
|
300.5
|
171.5
|
0.44
|
0.32
|
0.025
|
2.2
|
|
|
|
|
and
|
435.5
|
666.5
|
231.0
|
0.56
|
0.37
|
0.045
|
2.7
|
IK15014
|
-45
|
88
|
480.9
|
|
249.7
|
335.2
|
85.5
|
0.47
|
0.33
|
0.032
|
2.2
|
IK15015
|
-50
|
268
|
423.3
|
|
312.3
|
420.3
|
108.0
|
0.41
|
0.15
|
0.067
|
1.5
|
|
|
|
|
Incl.
|
312.3
|
378.3
|
66.0
|
0.51
|
0.19
|
0.085
|
1.9
|
IK15016
|
-45
|
88
|
483.3
|
|
243.0
|
369.3
|
126.3
|
0.27
|
0.14
|
0.031
|
1.5
|
|
|
|
|
Incl.
|
285.0
|
360.3
|
75.3
|
0.29
|
0.17
|
0.029
|
1.7
|
IK15017
|
-45
|
88
|
441.3
|
|
15.0
|
75.0
|
60.0
|
0.29
|
0.26
|
0.005
|
1.6
|
|
|
|
|
|
201.0
|
355.7
|
154.7
|
0.30
|
0.17
|
0.031
|
1.1
|
|
|
|
|
Incl.
|
240.0
|
355.7
|
115.7
|
0.33
|
0.18
|
0.039
|
1.2
|
IK15018
|
-45
|
88
|
441.3
|
|
138.0
|
159.0
|
21.0
|
0.33
|
0.25
|
0.016
|
1.5
|
|
|
|
|
|
201.0
|
312.4
|
111.4
|
0.36
|
0.30
|
0.010
|
2.3
|
|
|
|
|
Incl.
|
216.0
|
288.3
|
72.3
|
0.43
|
0.35
|
0.013
|
2.5
|
|
|
|
|
and
|
216.0
|
243.3
|
27.3
|
0.51
|
0.42
|
0.015
|
2.6
|
|
|
|
|
|
471.3
|
730.5
|
259.2
|
0.25
|
0.20
|
0.010
|
1.3
|
|
|
|
|
Incl.
|
471.3
|
540.3
|
69.0
|
0.33
|
0.25
|
0.017
|
1.8
|
|
|
|
|
and
|
651.3
|
730.5
|
79.2
|
0.29
|
0.23
|
0.012
|
1.5
|
1 Copper
equivalent (CuEQ) calculations use metal prices: Cu US$2.25/lb, Mo
US$8.00/lb and Ag US$17.00/oz. Metallurgical recoveries and net
smelter returns are assumed to be 100%.
|
2 Widths
reported are drill widths, such that the true thicknesses are
unknown.
|
3 All
assay intervals represent length weighted averages.
|
Amarc and Thompson Creek are currently planning a 2016 field
program to advance the IKE discovery and district. It is
anticipated that Thompson Creek will contribute $3 million to fund the 2016 program under the
recently announced funding agreement, which is subject to the
completion and execution of a Definitive Agreement expected in
December 2015 (see below and Amarc's
news release dated September 3,
2015). Amarc has a current working capital position of
$1.2 million.
Ron Thiessen, CEO of Amarc:
"We believe IKE continues to emerge as one of our country's most
important new mineral developments. Amarc and Thompson Creek hold a
common view of the potential of the IKE property, and a shared
commitment to efficiently advance it in a manner that balances
technical, environmental and social considerations."
Robert Dickinson, Chairman of
Amarc: "HDI companies have a long history of discovering and
developing porphyry copper deposits in BC that have gone on to
generate decades of wealth and opportunity for British
Columbians. We are excited to have found a project with the
potential of IKE and to be working with the Thompson Creek team to
progress IKE and move it up the value creation curve. "
Jacques Perron, President &
CEO of Thompson Creek: "We see the developing potential of the
IKE Project and are pleased to be in partnership with Amarc and the
HDI team, which has an excellent track record for discovering and
developing projects in BC. We also believe IKE can
achieve the standards for environmentally sound and socially
responsible development that are the hallmark of Thompson Creek
projects, and we look forward to working with our partners at Amarc
and the broader community to achieve those goals."
About the IKE Project
The IKE discovery is located 45 kilometres northwest of the
historical mining communities of Gold
Bridge and Bralorne in an area of wide U-shaped valleys
bounded by ridges within the Coast Range. Amarc's 2014 and
2015 core drilling programs were conducted in areas located above
tree line within two adjoining large and barren cirques. The
district surrounding the IKE discovery has long been explored for
its numerous showings of copper, molybdenum, gold and silver
mineralization. Although current access to the property is by
helicopter, there is significant infrastructure in the region.
Mainline logging roads, which lead east to Gold Bridge are located 20 kilometres to the
south of IKE. Access to power, railways and highways is available
in the area of Gold Bridge and the
nearby towns of Lillooet and
Pemberton.
Like many major porphyry deposits, IKE formed in a very active,
multi-stage hydrothermal system that was extensive and robust.
Geological mapping and logging of diamond drill core at IKE
indicate the deposit is hosted entirely by multi-phase intrusive
rocks. Its overall geological setting is similar to that of
many important porphyry belts along the Cordillera in North and
South America. The footprint of
the hydrothermal system at IKE is over six square kilometres. The
18 core holes (10,428 metres) completed by Amarc in 2014 and 2015
have all intersected long intervals of chalcopyrite and molybdenite
mineralization over an increasingly broad area, that now measures
1,200 metres east-west by 1,000 metres north-south and extends to
depths of over 500 metres. Mineralization encountered by the
drilling at IKE still remains open to expansion in all lateral
directions and to depth.
At IKE, chalcopyrite and molybdenite mineralization occurs as
fine to relatively coarse, mostly discrete grains, mainly as
disseminations and less commonly in fractures and veins.
Multi-element analyses have returned consistently and unusually low
concentrations of metallurgically or environmentally deleterious
elements. These characteristics, and the generally low
concentrations of pyrite at IKE, suggest excellent potential to
produce clean, good-grade copper and molybdenum concentrates by
standard flotation processing.
Field exploration conducted by Amarc, in addition to the 2014
and 2015 drilling programs, includes a detailed ground
induced polarization survey over IKE as well as a district-wide
high resolution airborne magnetic survey, and geological mapping
with copper and multi-element-in-talus fines geochemical surveys
over prioritized target areas. Collectively, these survey results
indicate exciting potential for a number of deposit-scale targets
beyond the immediate area of the current IKE discovery
drilling. Exploration results from Amarc's surveys and
historical programs by previous operators throughout the district,
combined with the common tendency of porphyry deposits to form
clusters lead the Company to believe a number of targets identified
near to IKE have potential to host additional bulk-tonnage porphyry
copper mineralization. In addition to the main IKE mineral
property, Amarc has acquired interests in extensive adjacent
mineral tenures over the IKE district.
Amarc is committed to working constructively with governments
and stakeholders towards the responsible development of the IKE
project, while contributing to the sustainable development of local
communities. Work programs are planned to achieve high levels
of environmental performance and local benefits, including
providing opportunities for employment, contracting and training
for local people. The Company is working hard to support
government's consultation duties to assist with timely and fair
decision making. Amarc is committed to meaningful and constructive
engagement with First Nation communities and remains open to the
comprehensive and progressive agreements it has proposed at the
early discovery-stage of project development.
About the Thompson Creek Earn-In Funding Agreement
As announced on September 3, 2015,
Amarc has entered into an agreement (the "Agreement") with Thompson
Creek pursuant to which Thompson Creek may acquire, through a
staged funding process a 30% ownership interest in the IKE porphyry
copper-molybdenum-silver deposit and the surrounding district (the
"IKE Project" or the "Project"). Thompson Creek also has an
option, after acquiring its 30% interest, to acquire an additional
20% interest in the IKE Project, subject to certain conditions,
including the completion of a Feasibility Study.
Under the terms of the Agreement, Thompson Creek can earn an
initial 30% interest in the Project under a Stage 1 Option by
funding $15 million of expenditures
on the property before December 31,
2019, of which $3 million for
2015 has been funded. For each $5
million of project expenditures funded, Thompson Creek will
incrementally earn a 10% ownership interest. Amarc will
remain as operator during the Stage 1 earn-in period.
When the Stage 1 Option is fully exercised, Thompson Creek will
have a one-time right under a Stage 2 Option to elect to earn an
additional 20% ownership interest in the Project (for a total 50%
ownership interest). To fulfill its obligations under the Stage 2
Option, Thompson Creek must commit to fund and complete a
Feasibility Study for the IKE Project that could serve as the basis
for a decision by an internationally recognized financial
institution to finance the development of a mining project. This
Feasibility Study must be completed within a two-year period, which
can be extended to three years under certain circumstances. While
completing the Feasibility Study work Thompson Creek is also
required to meet all other expenditures necessary to maintain and
advance the Project. Thompson Creek will become operator upon
initiation of the Stage 2 Option period. When the earn-in
period is completed the parties will form a joint venture to
further develop the IKE Project provided that Thompson Creek earns
a minimum 10% interest. Amarc will remain operator of the Project
in the instance that Thompson Creek does not earn a 50%
interest.
During both the Stage 1 and Stage 2 Option periods, Amarc will
retain a co-expenditure right whereby it can fund additional
expenditures on the IKE Project. Thompson Creek may elect to pay
its 30% or 50% share of these additional expenditures upon
completion of its Stage 1 Option and Stage 2 Option periods.
The Agreement is subject to the completion and execution of a
Definitive Agreement expected in December 2015. If a
Definitive Agreement is not completed Amarc will repay Thompson
Creek's 2015 expenditures with interest thereon within two
years.
Mineral Property Acquisition Agreements for IKE
Project
The material terms of the three mineral property acquisition
agreements relating to the IKE and district properties are set out
below. All royalties held by the respective vendors referenced have
been capped or can be purchased by Amarc (in either case in the
$250,000 to $4
million range).
(a) IKE
Property Agreement
Amarc has acquired a 100% ownership interest in the IKE property
by making cash payments totaling $205,000, issuing 300,000 shares and by incurring
approximately $1,860,000 in
exploration expenditures before November 30,
2015. The underlying owners retain a purchasable 2% Net
Smelter Returns ("NSR") royalty. There is also a capped and
purchasable 1% NSR royalty to a former operator.
(b)
Granite Property Agreement
The Company purchased a 100% interest in the Granite property
from Great Quest Fertilizers Ltd. ("Great Quest") by making staged
cash payments totaling $400,000
before November 30, 2014. Great Quest
holds a purchasable 2% NSR royalty on the property. A former
underlying owner also retains a purchasable 2.5% NSR royalty on a
portion of the property.
(c)
Galore Property Agreement
Amarc can acquire a 70% interest in the Galore property by
making staged payments, half of which can be paid in shares, of up
to $450,000 before December 31, 2018, and by completing $5 million in exploration expenditures,
$2 million of which may be satisfied
by way of recordable assessment credits not recorded directly on
that property, before December 31,
2020. The Galore mineral tenure is comprised of five claim
groups and is subject to five underlying option agreements, each of
which provides the relevant underlying owner with a capped and
purchasable 1.5% NSR royalty and a capped and purchasable 10% net
profits interest royalty.
For more complete details on these agreements, please see the
Company's filings at www.sedar.com and
www.sec.gov.
About Amarc Resources Ltd.
Amarc is a British
Columbia-based mineral exploration and development company
with an experienced and successful management team that is focused
on advancing the IKE Project, a major porphyry copper-molybdenum
discovery near the heartland of BC's copper mining industry with
proximity to mining infrastructure, power, rail and highways.
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 include some of BC's and the world's most
important mineral resources, such as Mount Milligan, Kemess South,
Kemess North, Gibraltar,
Prosperity, Xietongmen, Newtongmen, 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 projects to provide superior returns to
shareholders.
About Thompson Creeks Metals Company Inc.
Thompson Creek is a North American mining company. The Company's
principal operating property is its 100%-owned Mount Milligan mine,
an open-pit copper and gold mine and concentrator in British Columbia. The Company's molybdenum
assets consist of the 100%-owned Thompson Creek Mine, an open-pit
molybdenum mine and concentrator in Idaho, its 75% joint venture interest in the
Endako Mine, an open-pit molybdenum mine, concentrator and roaster
in British Columbia, and its
Langeloth Metallurgical Facility in Pennsylvania. The Company's development
project is the Berg property, a copper, molybdenum, and silver
exploration property located in British
Columbia. The Company's principal executive office is
located in Denver, Colorado. More
information is available at www.thompsoncreekmetals.com.
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.
Quality Control/Quality Assurance Program
All drill core was logged, photographed and cut in half with
a diamond saw. Half core samples were sent to Activation
Laboratories Ltd ("Actlabs") in Kamloops,
Canada facility (17025 accredited), for preparation and
analyses. Drill core samples were analyzed for Cu, Mo and 34
additional elements by 4 acid digestion of a 0.25 g sample followed
by an ICP-AES finish. Cu, Mo, Ag, Au and 59 additional elements we
also analyzed by Aqua Regia digestion of a 0.5 g sample followed by
an ICP-MS finish. As part of a comprehensive Quality
Assurance Quality Control ("QAQC") program, one standard, and one
in-line replicate were inserted into the sample stream in each
group of 20 samples, as well as one or more field blanks in each
analytical batch and then checked to ensure proper QAQC.
Inter-laboratory duplicates were submitted for each group of 20
samples from drill holes IK15010, IK15011 and IK15013 and then also
checked to ensure proper QAQC.
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.
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, the 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.
SOURCE Amarc Resources Ltd.