Molybdenum News Center

Amarc Received Assay Results from IKE Copper-Molybdenum-Silver Discovery

Amarc Resources Ltd. was pleased to announce that assay results have been received from five diamond drill holes recently completed at its IKE porphyry copper-molybdenum-silver discovery. IKE is located 45 kilometers northwest of Gold Bridge, in south-central British Columbia ("BC") near the heartland of BC's producing porphyry copper mines.

The five very widely-spaced drill holes, were designed to continue to delineate the copper, molybdenum, silver grade distribution within the overall 3.5 km by 2 km mineralized system discovered at IKE. The new drill results continue to indicate that IKE shares many geological similarities with some of the world's important copper-molybdenum-silver deposits, like Sierrita and Morenci in Arizona and Valley in BC.  The $1.6 million drill program was funded by Hudbay Minerals Inc.

Under the terms of the IKE Project Agreement Hudbay may acquire, through a staged investment process, up to a 60% ownership interest in the IKE Project, with Amarc as operator during the exploration stages. 

Amarc President, Dr. Diane Nicolson said, "The Amarc team is pleased to report 2018 drill results at IKE that confirm we are advancing an important-scale porphyry copper-molybdenum-silver discovery in the heartland of British Columbia's producing porphyry copper mines . We are now making plans for an expanded drill program in 2019, with the goal of further delineating the known mineralization at IKE to enable commencement of preliminary engineering."

The five new 2018 drill holes (numbered 22 through 26) and the previously drilled 21 holes, with a combined total of 15,455 m drilled, have intersected chalcopyrite and molybdenite mineralization over an increasingly broad area, now measuring 1,200 m east-west by 1,000 m north-south and extending vertically over 875 m.  Mineralization remains open to expansion.

The IKE deposit discovery has important economic potential as indicated by the copper equivalent grades returned over long continuous drill intercepts, which compare favourably to the range of copper equivalent grades for reserves and resources at operating BC porphyry copper (± molybdenum ± gold ± silver) mines.

Ron Thiessen, CEO of Amarc said, "Hunter Dickinson Inc. (HDI) associated companies have a long history of discovering and developing porphyry copper deposits in British Columbia that have gone on to generate decades of wealth and opportunity for stakeholders and shareholders alike.  We are excited to be combining HDI's proven porphyry copper discovery skill set with Hudbay's acknowledged capabilities as a first class mine builder and operator to advance another important porphyry copper development in the province."

Over the last four years, through combined induced polarization geophysical surveys, talus geochemical sampling and drilling, Amarc has delineated a 3.5 km by 2 km  mineralized system which hosts the IKE deposit. Drilling indicates substantial resource volumes that remain open to expansion. Extensive regional surveys have also identified a number of other significant porphyry copper (±molydenum±gold±silver) deposit targets all within 10 km of IKE. Amarc believes the IKE project has the potential to possess the grades and tonnages to develop into an important mining camp.

The 462 km2 IKE property is located 33 km northwest of the historical mining communities of Gold Bridge and Bralorne.  Although current access to the site is by helicopter, there is good infrastructure in the region. Mainline logging roads leading northwest from Gold Bridge extend to within 13 km of the southern extent of the IKE property.  Power, railways and highways are all available in the area of Gold Bridge and the regional towns of Lillooet and Pemberton.  

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