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Amarc Resources Ltd.
Summary
| Project: | IKE | |
|---|---|---|
| Deposit: | IKE | |
| Location: | Canada | |
| Commodities: | Copper-Molybdenum-Silver | |
| Date: | 11/6/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 6-11-2018: Amarc Resources Ltd. announces an Exploration/Drilling Update report for its IKE deposit at the IKE project. Drilling results incl. 651m @ 0.16% Cu, 0.032% Mo, 1.2g/t Ag from 158m. November 6, 2018, Vancouver, BC – Amarc Resources Ltd. (“Amarc” | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Mark Rebagliati (Not stated) | |
| ABSTRACT: | November 6, 2018, Vancouver, BC – Amarc Resources Ltd. (“Amarc” or the “Company”) (TSX‐V: AHR; OTCBB: AXREF) is pleased to announce that assay results have been received from five diamond drill holes recently completed at its IKE porphyry copper-molybdenum-silver discovery. IKE is located 45 kilometers northwest of Gold Bridge, in southcentral British Columbia (“BC”) near the heartland of BC’s producing porphyry copper mines. The five very widely-spaced drill holes, were designed to continue to delineate the copper, molybdenum, silver grade distribution within the overall 3.5 km by 2 km mineralized system discovered at IKE. The new drill results continue to indicate that IKE shares many geological similarities with some of the world’s important copper-molybdenum-silver deposits, like Sierrita and Morenci in Arizona and Valley in BC. The $1.6 million drill program was funded by Hudbay Minerals Inc. (“Hudbay”) (TSX: HBM; NYSE:HBM). Under the terms of the IKE Project Agreement (see news release dated July 6, 2017) Hudbay may acquire, through a staged investment process, up to a 60% ownership interest in the IKE Project, with Amarc as operator during the exploration stages. Amarc President, Dr. Diane Nicolson said, “The Amarc team is pleased to report 2018 drill results at IKE that confirm we are advancing an important-scale porphyry copper-molybdenum-silver discovery in the heartland of British Columbia’s producing porphyry copper mines . We are now making plans for an expanded drill program in 2019, with the goal of further delineating the known mineralization at IKE to enable commencement of preliminary engineering.” The five new 2018 drill holes (numbered 22 through 26) and the previously drilled 21 holes, with a combined total of 15,455 m drilled, have intersected chalcopyrite and molybdenite mineralization over an increasingly broad area, now measuring 1,200 m east-west by 1,000 m north-south and extending vertically over 875 m. Mineralization remains open to expansion. Selected highlights from all of Amarc’s drill holes at IKE are presented below. | |
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