VANCOUVER, Nov. 29, 2011 /CNW/ - Amarc Resources Ltd. ("Amarc" or the
"Company") (TSX Venture: AHR) (OTCBB: AXREF) is pleased to announce
that Induced Polarization (IP) field geophysical surveys indicate
potential for five major sulphide mineralized systems at its 100% owned
Galileo Project, located in south-central British Columbia (BC). The
800 square kilometre Galileo claims package lies within the emergent
Blackwater gold district.
Four of the defined Galileo targets areas have similar dimensions to, or
exceed that of the eight square kilometre sulphide system at the Newton
project, some 175 kilometres to the south, where drilling is currently
underway to delineate a new gold deposit discovery. Drill permit applications have been submitted to the provincial
government in order to test the promising Galileo targets for potential
gold and/or copper deposits. Once permits are received, Amarc plans to
methodically drill test all of these compelling targets.
"We are extremely encouraged by the sizeable high-quality IP
chargeability anomalies delineated by our field teams on the Galileo
property," confirmed Amarc Executive Chairman Bob Dickinson. "Our Galileo property lies within, what I believe, is the most exciting
new gold belt in British Columbia which includes the Newton gold
project to the south. Within this belt Galileo lies only a few
kilometers from New Gold's five million ounce-plus, bulk tonnage gold
discovery at Blackwater and the notable silver and gold deposits being
advanced at Capoose and 3Ts."
Amarc initiated its 2011 field program at Galileo by undertaking
approximately 4,000 line kilometres of helicopter-borne, magnetic and
electromagnetic geophysical surveying (see property location maps at www.amarcresources.com). By combining results of the airborne survey with in-house geological
knowledge and publicly available geological and geochemical data, a
number of deposit scale targets were identified for field evaluation.
More than 140 line kilometres of follow-up, field based IP ground
geophysical surveys, over these high-quality epithermal gold-silver and
porphyry gold-copper-type targets have determined that there is
potential for these five target areas to represent important sulphide
systems that require drill testing.
Galileo is located some 16 kilometres west of New Gold's Blackwater gold
deposit (Indicated Resources of 184 million tonnes at 0.94 g/t gold and
4.9 g/t silver and Inferred Resources of 43 million tonnes at 0.88 g/t
gold and 4.7 g/t silver at a 0.3 g/t gold cut-off, New Gold website).
It is also 13 kilometres south of the Capoose silver-gold deposit
(Indicated Resource of 39 million tonnes at 0.34 g/t gold and 23.7 g/t
silver and Inferred Resource of 50 million tonnes at 0.32 g/t gold and
21.2 g/t silver at a 0.3g/t gold cut-off, Silver Quest website) and
three kilometres west of the 3T's vein gold deposit (where best
intercepts include 14 metres of 5.33 g/t gold and 50.6 g/t silver, 3.7
metres at 7.69 g/t gold and 84.2 g/t silver, 17.2 metres of 2.68 g/t
gold and 152.1 g/t silver, Silver Quest website).
The Galileo property lies approximately 135 kilometres southwest of the
town of Vanderhoof and 176 kilometres southwest of northern BC's
regional hub city of Prince George. The area is characterized by
subdued topography and is well served by existing transportation and
power infrastructure and a skilled workforce, which supports an active
Amarc is a Vancouver-based mineral exploration and development company
focused on making the next gold discovery in BC. Its exploration
activities are focused on the Newton gold discovery through a Joint
Venture with Newton Gold Corp. (Amarc 80%: Newton Gold Corp. 20%) and
at its 100% owned Galileo property adjacent to New Gold's Blackwater
holdings. Amarc is associated with Hunter Dickinson Inc. (HDI) - a
diversified, global mining group company 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 consistently superior returns to shareholders.
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
technical content of this release.
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, 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.
For further information:
on Amarc Resources Ltd., please visit the Company's website at or contact Investor Services at (604) 684-6365 or within North America at 1-800-667-2114.