VANCOUVER,
Sept. 19, 2013 /PRNewswire/ - Amarc
Resources Ltd. ("Amarc" or the "Company") (TSX-V: AHR; OTCBB:
AXREF) is pleased to provide results from its summer exploration
programs at silver and copper properties located in central and
northern British Columbia ("BC").
In particular, surface exploration at the ZNT joint venture
property has delineated a compelling silver and zinc anomaly that
is ready for drill testing. A permit has been received from
government and drilling is expected to commence shortly. Given the
ongoing challenging financial markets, Amarc has adapted its
exploration strategies to evaluate exploration properties in a cost
effective and efficient manner.
By option agreement announced in late 2012, the
Company intends to acquire a 60% interest in ZNT from Quartz
Mountain Resources Ltd. ("Quartz Mountain"), and is also the
operator of the joint venture. The ZNT exploration property was
staked by Quartz Mountain on the basis of significant zinc
concentrations in regional till samples as reported by Geoscience
BC. In 2012, approximately 2,400 grid soil geochemical samples and
20 line kilometres of Induced Polarization ("IP") ground
geophysical survey were completed. These initial exploration
activities defined a new and unusually strong silver and
zinc-in-soils anomaly measuring 1.8 kilometres by 1.2 kilometres.
In July 2013, a pitting and trenching
program designed to further refine the target was completed over 16
days. Some 170 rock and 36 soil geochemical samples were collected
from 62 pits and trenches. Integration of the data from these
surface programs has defined a sizable silver deposit-target hosted
by volcanogenic sandstones. Amarc plans to drill test this target
shortly.
A map with results from the ZNT program and
other maps referenced in this release are available in the Company
presentation at
http://www.amarcresources.com/i/ahr/pdf/AHR_Presentation.pdf.
The ZNT property is located 15 kilometres
southeast of the town of Smithers,
BC. The project area is characterized by gentle
topography and easy access. The region is well-served by existing
transportation and power infrastructure, and is connected via the
Canadian National Railway and Highway 16 at Smithers to the deep-water port at
Prince Rupert. In addition, a
skilled local workforce supports an active mineral exploration and
mining industry in the region.
In other news, at the 100%-owned Silver Vista
property, near Lake Babine, results from extensive geochemical
surveys conducted in 2012 over the MR Zone defined a strong
silver-in-soils anomaly extending over an area of approximately 1.2
kilometres by 1.4 kilometres for ground follow-up. This target area
included a 600 metre-long zone of known mineralization defined by
historical drilling, which remains open laterally and to depth (see
Amarc news release January 29, 2013).
A recently completed pitting and trenching program designed to test
the MR Zone target suggests that silver-copper mineralization is
restricted to the immediate vicinity of the historical drilling,
and has limited the potential for a large-scale, bulk tonnage
deposit.
Comprehensive surface exploration, including
extensive silt geochemical sampling, over the greater Silver Vista
property in 2012 delineated copper-molybdenum and silver targets
for ground follow-up. In August 2013,
all three prioritized targets were geologically mapped. In
addition, 125 rock and 838 soil geochemical samples were collected.
Two porphyry copper-molybdenum systems of limited dimensions were
defined, however, no compelling drill targets were established.
At the Galaxie property, near Dease Lake, which is held under another joint
venture with Quartz Mountain, integrated exploration surveys
completed in 2012 by Quartz Mountain defined 4 porphyry copper
targets at Hu and Hotai and a silver skarn target at the Silver
Lode play for ground follow-up (see Amarc news release February 21, 2012). Amarc, as operator of the
joint venture, recently completed an efficient two week program,
which included geological mapping, 10 line kilometres of IP ground
geophysical surveying and the collection of 96 rock and 246 soil
geochemical samples. Although no immediate drill targets were
identified to meet Amarc requirements, a series of alkali
intrusions were observed around the Hu target which are known to be
the principal hosts for porphyry copper-gold deposits, and may
warrant further exploration. Amarc expects to have a 40% interest
in the Galaxie JV when final data compilation is completed next
month, with operatorship passing back to Quartz Mountain.
About Amarc Resources Ltd.
Amarc is a Vancouver-based mineral
exploration and development company focused on making the next
major metal deposit discovery in BC. Despite the ongoing
challenging equity market conditions Amarc has a sound base of
approximately $5 million in working
capital. The Company has taken a prudent approach to treasury
management and adapted its exploration strategies to evaluate its
portfolio of assets in an efficient and cost effective manner.
Amarc is associated with Hunter Dickinson Inc.
(HDI) - a diversified, global mining group 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 superior returns to shareholders.
Mark Rebagliati,
P. Eng., a Qualified Person as defined under National Instrument
43-101, has reviewed the technical content of this release.
ON BEHALF OF THE BOARD
Robert A.
Dickinson
Chairman
All soil, silt and rock samples in the 2013
program were prepared at the ACME Laboratories in Smithers or Vancouver and analyzed using their 36 element
aqua regia digestion ICP/MS package at the Vancouver, Canada facility (ISO 9001:2008
registered and 17025:2005 accredited). Rock chip samples >10,000
ppm Zn were also analyzed by 4 acid digestion ICP-AES
finish.
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 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, potential environmental issues or liabilities
associated with exploration, development and mining activities,
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 and the effect 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.
SOURCE Amarc Resources Ltd.
