VANCOUVER, June 30, 2017 /CNW/ - Amarc Resources Ltd.
("Amarc" or the "Company") (TSX-V: AHR; OTCBB: AXREF) is pleased to
announce the appointment of President, Dr. Diane Nicolson to its Board of Directors.
Executive Chairman, Robert
Dickinson said, "Diane's leadership and energy have made a
tremendous contribution to Amarc's successful acquisitions and
advancement of its three copper district projects; IKE, DUKE and
JOY, located in south, central and northern British Columbia ("BC") respectively.
"During the past period of very difficult market conditions she
and her Amarc team have created a solid foundation to commence the
value creation life cycle of a mining exploration company with
expectations that development of Amarc's projects will result in a
new generation of BC porphyry copper
mines."
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. With the
successful combination of strong projects and successful
management, and plans for low share dilution financings all
advancing, Amarc has created a very solid platform to commence the
value-creation life cycle of a mining exploration company.
The Company is advancing its 100% owned IKE, DUKE and JOY
porphyry copper deposit districts, located in southern, central and
northern BC, respectively; each with proximity to industrial
infrastructure, power, rail and highways. These projects
represent significant potential for the discovery of
important-scale, porphyry copper-gold and copper-molybdenum
deposits.
The IKE Project is located 33 km northwest of the historical mining
community of Gold Bridge. Over the last three years, Amarc
has made a significant new copper-molybdenum-silver porphyry
discovery, completing over 12,000 metres of drilling in 21
wide-spaced core holes in the IKE deposit that indicate extensive
resource volumes which remain open to expansion in all directions.
Extensive regional surveys have also identified numerous porphyry
copper mineralized systems and deposit targets; all within 10 km of
the IKE Deposit. Amarc believes the IKE Project has the potential
to possess the grades and resource capabilities to develop into an
important mining camp.
Amarc's DUKE deposit and 190 km2 adjacent porphyry
copper district is located 80 km northeast of Smithers and 30 km north of former mines (Bell
and Granisle) operated by
Noranda Mines. The DUKE
Project area is logging road accessible from Smithers or Fort St.
James.
Historically, DUKE has been explored with surface geochemical
and geophysical surveys and also 30 shallow diamond drill
holes. Many of the holes drilled intersected significant
lengths of copper-molybdenum-silver-gold porphyry mineralization
which remains open both laterally and to depth. The surrounding
district hosts multiple second order porphyry copper deposit
targets. Plans are to drill the DUKE deposit target later in
the fall of 2017.
Amarc's 72 km2 JOY mineral property is located 310 km
north of Mackenzie and 25 km north
of the Kemess South Mine site. AuRico Resources' Kemess
Underground Project, 19 km to the south of JOY, recently received a
BC EA Certificate.
Past operators conducted prospecting-style work on the JOY
claims. Some 3,000 soil samples, 800 rock samples and 30 silt
samples were collected, but no drilling was done. The surface
surveys clearly indicate a number of substantial porphyry
copper-gold and epithermal silver-gold deposit targets across the
JOY property. The porphyry copper-gold deposit targets at JOY
are considered by Amarc to be a northern extension to the prolific
Kemess porphyry gold-copper district. Most importantly,
historical soil and rock sampling along with a recent confirmation
soil survey, has revealed a regionally significant, 7
km2 copper, gold, molybdenum, silver and zinc
geochemical anomaly, which potentially reflects a large and
shallowly buried, copper-gold porphyry deposit.
The Company is planning to complete IP surveys and drill testing
of this exceptional target at JOY starting in late July.
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 Pebble, Mount Milligan,
Kemess South, Kemess North, Gibraltar, Prosperity, Xietongmen, Newtongmen,
Florence, Sisson and Maggie. 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 committed to working collaboratively with governments
and stakeholders to achieve responsible development of its
projects, while contributing to sustainable development of the
communities in which it works. All work programs are
carefully planned to achieve high levels of environmental and
social performance.
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
SOURCE Amarc Resources Ltd.