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Amarc Completes $500,000 Financing - BC Exploration Update
VANCOUVER, Feb. 20 /CNW/ - Amarc Resources Ltd. ("Amarc" or the "Company") (TSXV: AHR; OTCBB: AXR...
About this update from Amarc Resources Ltd.
[{"type":"text","content":"\n\n\n\nVANCOUVER, Feb. 20 /CNW/ - Amarc Resources Ltd. ("Amarc" or the\n"Company") (TSXV: AHR; OTCBB: AXREF) announces that, further to its press\nrelease dated December 19, 2008, the Company has completed the previously\nannounced private placement financing and has issued 5,000,000 equity units\n(the "Units") at a price of $0.10 per Unit for gross proceeds of $500,000.\nEach Unit consists of a flow-through common share and a non-flow-through\nwarrant (a "Warrant"). Each Warrant is exercisable to purchase an additional\ncommon share at a price of $0.10 for a 24 month period. The Units are subject\nto a four month hold period under applicable Canadian securities legislation.\n\n\nProceeds from the offering will be used for Canadian exploration\nexpenses.\n\n\nAmarc also reports that analytical results have been received from the\ndiamond drilling program at the Bodine-Warren property located in the central\narea of the highly prospective Sitlika Copper-Zinc Belt, near Fort St. James,\nBritish Columbia. The 2,241-meter diamond drill program was designed to test\ntargets defined by strong copper and zinc, with associated silver and lead,\nsoil anomalies and induced polarisation geophysical signatures, over a 2,000\nmeters by 700 meter area. Drilling intercepted thick sequences of favourable\nfelsic volcanic rocks confirming the favourable geological environment for\nvolcanogenic massive sulphide mineralisation. Strong rock alteration was found\nassociated with significant intervals of disseminated to stringer-like zones\nof sulphide mineralisation that returned strongly anomalous zinc and copper\nvalues. However, no economic mineralisation was encountered.\n\n\nAmarc Resources Ltd. is a Vancouver-based exploration and development\ncompany. In recent times Amarc has been focused on early stage exploration\nwith efforts primarily directed towards making the next major new mineral\ndeposit discovery within B.C. Amarc has also recently expanded its search,\nevaluating proposals from favorable mining jurisdictions around the world.\nAmarc is affiliated with Hunter Dickinson Services Inc., the personnel and\nmanagement of which have enjoyed considerable success both in B.C. Examples of\nsuccessful projects world-wide include Golden Bear, Mt. Milligan, Kemess,\nProsperity, Gibraltar, Pebble, Xieto...