800
West Pender Street, Suite 1020 Vancouver, British Columbia Canada V6C 2V6 Tel: 604-684-6365 Fax: 604-629-1216 Tollfree 1-800-667-2114 www.amarcresources.com |
AMARC PROVIDES UPDATE ON PROGRAMS EXPLORING FOR MAJOR NEW GOLD-COPPER
DEPOSITS WITHIN THE PLATEAU GOLD-COPPER BELT, BRITISH COLUMBIA
August 18, 2010 Vancouver, BC - Amarc Resources Ltd. ("Amarc",
or the "Company") (TSX Venture: AHR; OTCBB: AXREF) is pleased
to provide an update on ongoing exploration activities within its 100%
owned Plateau Gold-Copper Belt, located in south-central British Columbia
("BC"). Amarc considers that this 3,300 square kilometre claim
package holds significant potential for the discovery of gold-copper porphyry
and epithermal gold type deposits.
Field activities within the Plateau Gold-Copper Belt are currently focused
on claims extending southward from Amarc's Newton bulk tonnage gold
project. Twenty-three priority targets were defined in this area by combining
public domain data and interpretations with the results of a 7,000-line
kilometre ZTEM survey
(Z-Axis Tipper Electromagnetic system) and a high-sensitivity magnetometer
airborne geophysical survey over the Plateau Gold-Copper Belt, the Newton
property and other known deposits in the region (see Amarc press release
January 19, 2010).
Field assessment of the 23 priority targets commenced upon receipt of
work permits earlier this summer. Amarc has a 22-person team, including
employees from local communities, in the field operating in four crews.
To date, over 10,000 grid soil geochemical samples have been taken and
55 line kilometres of Induced Polarization (IP) ground geophysical surveys
along with extensive prospecting have been completed. These programs are
ongoing.
"Initial results from our comprehensive district-scale exploration
program in the southern sector of the Plateau Gold-Copper Belt have defined
to date two outstanding copper-molybdenum multi-element soil geochemical
anomalies, each exceeding 1,500 metres in length and ranging up to 1,000
metres in width. Both these targets remain open for extension and will
be further assessed by ground geophysical surveys," confirmed
Amarc's Chairman Robert A. Dickinson. " We are very encouraged
by these early results. Once surface target delineation is complete, it
is our intention to drill the highest priority targets later this year".
Soil geochemical and IP ground geophysical surveys are also continuing
on the Newton property within a 20 square kilometre area to define and
delineate a recently identified and extensive bulk-tonnage gold target.
This target is centred approximately 450 metres to the south of the discovery
drilling completed in late 2009. Best intercepts from that drilling include
189 metres grading 1.56 g/t gold, including 141 metres grading 2.01 g/t
gold in hole 9004 and 138 metres grading 0.74 g/t gold, including 63 metres
grading 1.17 g/t gold in hole 9014 (for further information and results
see Amarc's releases dated July 26, 2010 and January 19, 2010). Once
surface target delineation activities have been completed and data synthesized,
drilling will commence. Permits for an initial 25-hole diamond drill program
have been received.
The Newton property, on which Amarc can earn an 80% interest, and its
100% owned Plateau Gold-Copper Belt properties are located some 100 kilometres
southwest of the City of Williams Lake in a region characterized by subdued
topography. The district is well served by existing transportation, power
infrastructure and skilled personnel, which support a number of operating
mines and late-stage development projects.
The southern sector of the Plateau Gold-Copper Belt lies adjacent to the
permitting-stage Prosperity copper-gold project, which hosts 831 million
tonnes of proven and probable reserves grading 0.41 g/t gold and 0.23
% copper, containing 3.6 billion pounds copper and 7.7 million ounces
gold at a C$5.50 NSR/t cut-off (Taseko Mines Limited).
Mark Rebagliati, P.Eng., a Qualified Person as defined under National
Instrument 43-101, is supervising the exploration and quality assurance
and quality control programs on behalf of Amarc and has reviewed the content
of this release.
Amarc Resources Ltd. is a Vancouver-based exploration and development
company affiliated with the Hunter Dickinson group, a private company
associated with a series of successful mineral exploration and development
projects in BC - including Golden Bear, Mt. Milligan and Kemess.
For further details on Amarc Resources Ltd., please visit the Company's
website at www.amarcresources.com or contact Investor Services at (604)
684-6365 or within North America at 1-800-667-2114.
ON BEHALF OF THE BOARD
Ronald W. Thiessen
President & CEO
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, exploitation
and exploration 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 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.