Business
Amarc prepares to drill major target at its Hubble Project, near Blackwater, British Columbia
Amarc Resources Ltd. (“Amarc” or the “Company”) (TSXV: AHR; OTCQB: A...
About this update from Amarc Resources Ltd.
[{"type":"text","content":"\nAmarc prepares to drill major target at its Hubble Project, near Blackwater, British Columbia\n\nAmarc Resources Ltd. (“Amarc” or the “Company”) (TSXV: AHR; OTCQB: AXREF) is pleased to announce that an Induced Polarization (IP) ground geophysical survey has delineated a significant chargeability anomaly with excellent potential to represent an important sulphide system at its 100% owned Hubble Project, south-central British Columbia. The 140 square kilometre Hubble property lies within the emergent Blackwater gold district. \nAmarc initiated a regional program at Hubble in 2011, undertaking approximately 370 line kilometres of helicopter-borne, magnetic and electromagnetic geophysical surveying from which epithermal gold-silver and gold-copper porphyry-type targets were identified for field follow-up.\nAn IP ground geophysical survey has identified an important target over three square kilometres in extent. Drill permit applications have been submitted to the provincial government in order to test this new target for potential gold and/or copper deposits. Amarc plans to drill test the target when permits are received. A location map and other information regarding Hubble Project are available on Amarc's website at http://www.amarcresources.com/ahr/MapsFigures.asp.\n\"We are encouraged by the sizeable high-quality IP chargeability anomaly delineated by our field teams on the Hubble property which lies within, what I believe, is the most exciting new gold belt in British Columbia,” confirmed Amarc Executive Chairman Bob Dickinson. “This new belt includes both the Newton gold project in the south and New Gold's six million ounce-plus, bulk tonnage gold discovery at Blackwater only a few kilometres from Hubble.”\nHubble lies approximately 35 kilometres northeast of New Gold's Blackwater deposit for which an Indicated Resource of 184 million tonnes at 0.94 g/t gold and 4.9 g/t silver and Inferred Resources of 43 million tonnes at 0.88 g/t gold and 4.7 g/t silver at a 0.30 g/t gold cut-off have been announced (New Gold website). New Gold acquired the Blackwater deposit from Richfield Ventures Corp. in June 2011 through a transaction valued at approximately $550 million (see New Gold news release April 4, 2011). In addition to the new Hubble target, Amarc recently announced the delinea...