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Amarc Announces More Significant Results for the Newton Gold Discovery, Stakes Substantial Land Position & Launches Aggressive 2010 Program
Amarc Announces More Significant Results for the Newton Gold Discovery, Stakes Substantial Land P...
About this update from Amarc Resources Ltd.
[{"type":"text","content":"\n\n\n\nJan. 19, 2010 (Canada NewsWire Group) -- VANCOUVER, Jan. 19 /CNW/ -- Amarc Resources Ltd. (\"Amarc\" or the \"Company\") (TSX-V: AHR, OTCBB: AXREF) announces that assay results received from the last seven holes of a 14-hole diamond drill program, completed in late 2009, continue to confirm that the Newton Property holds excellent potential to delineate an important bulk-tonnage gold deposit that could support an open pit-style mining operation. All significant assay results from the 14-hole discovery program are shown in the table below (the first 7 holes were announced in the Company's December 8, 2009 release). The gold system remains open in all directions (see maps at www.amarcresources.com). Amarc has the right to acquire an 80% interest in the Newton Property from High Ridge Resources Inc.The Company also announces that it has staked some 1,300 square kilometres of additional mineral claims over an underexplored and highly prospective gold-copper belt extending south from the Newton Property. This newly staked land package is owned 100% by Amarc and is bordered to the west by the advanced, permitting-stage Prosperity gold-copper project. The 830 million tonne Prosperity deposit is one of the largest known porphyry deposits in British Columbia (BC) and contains 4.2 billion pounds of copper and 11 million ounces of gold in proven and probable reserves (Taseko Mines Limited).Amarc has initiated a 7,000 line-kilometre airborne geophysical survey over the Newton Property, other regional anomalies and the recently staked land package. It will also undertake extensive Induced Polarization (IP) surveys on the Newton Property to help trace the newly discovered gold deposit and to guide an aggressive drill campaign in 2010. \"The discovery of an important new bulk-tonnage style gold system at Newton, one that could represent a new deposit type for BC within a previously unrecognized gold district, is certainly exciting in its own right,\" said Amarc Executive Chairman Bob Dickinson. \"What Amarc's geologists have found since announcing the first set of assay results from Newton last month is equally compelling.\"By reviewing public domain geochemical data, the Amarc team has identified a significant new gold and multi-element geochemical anomaly some 30 kilometres southeast of Newton. This anomaly has a multi-element signat...