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Amarc and Thompson Creek complete definitive agreement to advance IKE project
Amarc and Thompson Creek complete definitive agreement to advance IKE project Amar...
About this update from Amarc Resources Ltd.
[{"type":"text","content":"\n\n\n\nAmarc and Thompson Creek complete definitive agreement to advance IKE project\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nAmarc and Thompson Creek complete definitive agreement to advance IKE project\nCanada NewsWire\nVANCOUVER, Feb. 29, 2016\n\n\n\nVANCOUVER, Feb. 29, 2016 /CNW/ - Amarc Resources Ltd. (\"Amarc\" or the \"Company\") (TSXV: AHR; OTCBB: AXREF) is pleased to announce that a definitive agreement (the \"Agreement\") has been finalized with Thompson Creek Metals Company Inc. (\"Thompson Creek\") (OTCQX:TCPTF; TSX:TCM) in order to advance the IKE porphyry copper discovery in south-central British Columbia (\"BC\"). Under the Agreement, Thompson Creek has the option to acquire up to a 50% interest in the IKE Project through a staged investment process. \n\nThompson Creek has the option to acquire an initial 30% interest through staged investments totaling $15 million on or before December 31, 2019, of which $3 million was completed in 2015. Subsequently, Thompson Creek can acquire an additional 20% interest, subject to certain conditions, including completing a Feasibility Study within a two-year period that can be extended to three years in certain circumstances. \n\nThe IKE copper-molybdenum-silver porphyry discovery, together with the surrounding district of highly prospective porphyry copper (±molybdenum±silver±gold) targets yet to be drill tested, have the potential to possess the grades and resources necessary to develop an important mining camp. The project is located 45 kilometres northwest of Gold Bridge, in south-central BC, near the heartland of BC's producing porphyry copper mines.\n\nAssay results from all 18 holes (10,437 metres) drilled by Amarc at IKE since 2014, combined with results from geological, geochemical and geophysical surveys completed outwards from the area drilled, indicate the presence of an important porphyry-style copper-molybdenum-silver deposit (see Amarc news release December 9, 2015). All drill holes have intersected varying amounts of chalcopyrite and molybdenite mineralization over a broad area mea...