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Amarc reports drill results from Gnat copper deposit, British Columbia - Surface exploration delineates new porphyry copper deposit targets at the Galaxie Joint Venture property
VANCOUVER, Feb. 21, 2013 /CNW/ - Amarc Resources Ltd. ("Amarc") (TSX-V: AHR; OTCBB: AXREF)...
About this update from Amarc Resources Ltd.
[{"type":"text","content":"\n\n\n\n\n\nVANCOUVER, Feb. 21, 2013 /CNW/ - Amarc Resources Ltd. (\"Amarc\") (TSX-V: AHR; OTCBB: AXREF) is pleased to provide an update on results from exploration work\n conducted at the Galaxie property, located on Highway 37, just 42\n kilometres north of the Red Chris copper-gold mine construction site\n and 25 kilometres south of the Village of Dease Lake, British Columbia\n (\"BC\").\n\n\nThe Galaxie property hosts the Gnat porphyry copper deposit, where a\n two-hole drill program was undertaken in December 2012 to test newly\n identified potential to the known historical estimate, which comprises\n an \"Indicated Reserve\" of 30 million tonnes grading 0.39% Cu. The 2012\n drill program confirmed the presence of mineralization at depth,\n returning intervals of, for example, 55.7 metres at 0.44% copper and\n 91.0 metres at 0.37% copper. Elsewhere on the Galaxie property,\n comprehensive surface exploration programs have identified new porphyry\n copper and skarn silver targets for drill testing in 2013.\n\n\n\"Initial results received from comprehensive field programs completed\n late last year at Galaxie are very encouraging,\" confirmed Amarc Chairman Bob Dickinson. \"The Galaxie Project represents one of the few remaining underexplored\n areas of the prolific Stikine Terrane in northern BC, which is host to\n a number of important copper-gold deposits with substantial mineral\n resources - including Red Chris, Schaft Creek, Galore and the\n Kerr-Sulphurets-Mitchell-Snowfields deposits. Galaxie is considered by\n Amarc management to hold significant potential for the discovery of\n important new porphyry copper deposits.\"\n\n\nThe Gnat deposit was discovered in the late 1960s.  Exploration to 1972\n resulted in the historical estimate by Lytton Minerals Ltd as reported\n in a Canadian Stock Exchange Listing Statement in 1972. It is based on\n 83 AQ-size drill holes, and includes 20% dilution by wallrock grading\n 0.15% copper.  As no other documentation of reserve estimation\n parameters is known to exist, the reliability of the estimate cannot be\n assessed. There is no classification of \"Indicated Reserves\" under\n current standards and a Qualified Person has not done sufficient work\n to classify the estimate as current mineral resources or reserves, and\n as such the Company is not treating it as curren...