Amarc Resources Ltd. (“Amarc” or the “Company”) (TSX-V: AHR; OTCBB: AXREF) is pleased to announce that field work has commenced at its 464 km2 JOY porphyry copper-gold project which covers the northern extension to the prolific Kemess porphyry gold-copper district in north-central, BC. In 2017, Centerra Gold purchased the southern Kemess district located directly adjacent to the south of the JOY project for $310 million. The $2 million, 2018 JOY program is being funded by Hudbay Minerals Inc. (Hudbay), which has partnered with Amarc to explore and develop the JOY project. Hudbay will also pay $1.15 million this year to Amarc for property acquisition costs.
Amarc has identified a new, 20 km long by 4 km wide northeast trending structural corridor crossing the JOY property. This favourable structural trend – named the Finlay Magnetic Corridor (“FMC”) – hosts the PINE and TREE gold-copper porphyry deposits and, based on extensive historical geochemical, geophysical and drilling programs by past operators, numerous other compelling deposit targets. This year’s field work includes the completion of property-wide heliborne magnetic surveys, followed by exploration surveys over prioritized targets within and adjacent to the FMC. These surveys include 80-100 km of Induced Polarization (“IP”) surveys, 850 sample soil surveys and extensive geological mapping. Drilling is expected to follow to test sulphide systems that are delineated by the surveys for major gold-copper deposits.
The detailed heliborne magnetic survey over most of the project area was recently completed. Results indicate that the PINE and TREE gold-copper deposits on the property are represented by northeast trending magnetic highs within the northeast trending FMC. There are a number of similar magnetic features located along and adjacent to this major structural corridor which are now being explored by the other field surveys. For Maps and Figures of the survey area, see http://www.amarcresources.com/ahr/MapsFigures.asp?ReportID=831536.
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 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, 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.