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Amarc Resources announces first season of exploration activity

Mining News - Published on Thu, 13 Dec 2018

Image Source: Vancouver Sun
Amarc Resources Ltd announced results from its first season of exploration activity at the expanded JOY Project. The 464 km2 JOY property covers the northern extension of the prolific Kemess porphyry gold-copper district in the Toodoggone region of north-central British Columbia. Extensive airborne and ground exploration surveys completed this year over the new JOY Project mineral tenures, acquired in 2017, have confirmed a number of new, high potential porphyry gold-copper deposit targets for aggressive drill testing in 2019. The USD 2.5 million exploration program in 2018 was funded by Hudbay Minerals Inc., which has partnered with Amarc to explore and develop the JOY Project. Hudbay also paid USD 1.15 million in 2018 in support of Amarc's acquisition of underlying claims. Under the agreement with Hudbay, Amarc is operator of the JOY Project during the exploration phase.

Exploration targets identified for assessment in 2018 occur largely along, and proximal to, the 20 km long by 4 km wide Finley Magnetic Corridor that trends northeast across the JOY property and hosts the PINE and TREE porphyry gold-copper deposits. This year's fieldwork -which included 1,356 line-km of airborne magnetic and 63 line-km of ground Induced Polarization ("IP") geophysics surveys, collection of 2,676 soil geochemical samples, 98 km2 of detailed geological mapping and the drilling of two core holes totalling 946 m - has significantly advanced the project.

Fieldwork at JOY in 2018 identified five clusters of drill-ready targets, covering areas from 1.5 km2 to more than 5 km2. These targets are defined by a combination of positive factors that include: IP chargeability highs indicating large sulphide mineralized systems; areas of notable gold and copper enrichment identified by shallow (generally less than 150 m) historical drill holes; coincident, high-contrast copper, gold, silver, ± molybdenum and zinc soil geochemical anomalies; and favorable geology and magnetic signatures. Each of these five targets has the potential to host a significant porphyry gold-copper deposit. Multiple drill holes are required for the initial testing of each target-area.

One other target at JOY was partially tested at the end of the 2018 season by two, widely spaced drill holes1. The first hole encountered classic porphyry-style alteration and sulphide mineralized rock units with geochemically anomalous gold concentrations throughout its 563 m length. This finding is compatible with the edge of a productive mineralized system. Further drilling is warranted, targeting the potential potassic core of this specific mineralized system. The second exploration hole returned no significant results.

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Posted By : Rabi Wangkhem on Thu, 13 Dec 2018
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