Amarc Announces New High Grade “AuRORA” Copper-Gold-Silver Deposit
Amarc Resources Ltd. (“Amarc” or the “Company”) (TSXV:AHR)(OTCQB:AXREF) is pleased to announce discovery of the new, high grade, gold-rich porphyry copper-gold-silver (“Cu-Au-Ag”) AuRORA deposit at its 100% owned JOY Copper-Gold District (“JOY”), in the prolific Toodoggone-Kemess porphyry Cu-Au region of north-central British Columbia (“BC”). The AuRORA Deposit Discovery is located within an area of the 495 km 2 JOY District that had not previously been drill tested (see Figures 1, 2 and 3). Freeport-McMoRan Mineral Properties Canada Inc. (“Freeport”) is fully funding work programs at JOY to earn an interest in the project, and Amarc is the operator of all programs.
Highlights from Initial AuRORA DEPOSIT Discovery Drill Holes Include:
|
Drill Hole |
Int.1,2,3 (m) |
From (m) |
Incl. |
Au (g/t) |
Cu (%) |
Ag (g/t) |
CuEQ4 (%) |
|
JP24057 |
82 |
18 |
1.24 |
0.38 |
2.47 |
1.08 |
|
|
42 |
58 |
Incl. |
1.97 |
0.49 |
3.58 |
1.61 |
|
|
JP24059 |
271 |
24 |
0.98 |
0.25 |
1.93 |
0.81 |
|
|
171 |
24 |
Incl. |
1.32 |
0.34 |
2.62 |
1.09 |
|
|
89 |
106 |
and |
2.29 |
0.46 |
3.65 |
1.76 |
|
|
JP24071 |
212 |
21 |
1.36 |
0.40 |
3.35 |
1.18 |
|
|
108 |
104 |
Incl. |
2.38 |
0.60 |
5.17 |
1.96 |
|
|
JP24074 |
162 |
69 |
2.19 |
0.63 |
6.95 |
1.90 |
|
|
147 |
84 |
Incl. |
2.40 |
0.69 |
7.60 |
2.08 |
|
|
108 |
111 |
and |
3.09 |
0.82 |
8.99 |
2.59 |
|
|
81 |
135 |
and |
3.69 |
0.92 |
9.72 |
3.04 |
Notes: See Table 1.
Hole JP24057, the first hole ever drilled at AuRORA, intersected a new porphyry Cu-Au-Ag system hosting high and continuous Au grades (see Tables 1, 2 and 3). Following completion of this discovery hole, Amarc, with Freeport, systematically stepped out, aggressively drilling with three core rigs, with a view to begin outlining an outstanding Cu-Au-Ag deposit and to confirm its high grade potential. This release details the results of discovery hole JP24057 and six other holes drilled at approximately 100 m intervals on east-west section 7800N (see Figures 2 and 3). Drilling on this section established a 600 m wide zone of porphyry mineralization encountered from near surface that is open to lateral expansion, and which is characterized by excellent lateral and vertical continuity. Final compilations and confirmatory analyses from six additional holes drilled at AuRORA along east-west section 7900N, a 100 m step out to the north of section 7800N, are near completion and will be released in the very near future. These additional results show similar very encouraging grades and characteristics to those reported in this release.
“This impressive new, high grade porphyry copper-gold-silver discovery is a pivotal moment for Amarc and its shareholders,” said Dr. Diane Nicolson, Amarc President and CEO. “It represents a significant inflection point in the exploration of the JOY District with Freeport. Our discovery is the culmination of years of relentless groundwork by the Amarc team, coupled with the firm, unwavering belief, shared by Freeport, that the JOY District holds significant potential for high grade porphyry gold-copper deposits. This discovery comes during a period of positive market sentiment for gold, copper and silver, which we believe further increases the attractiveness of Amarc as an exciting investment opportunity.”
The AuRORA Deposit…
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