Amarc identifies new sulphide system near B.C. gold-copper discovery
Amarc Resources Ltd. [AHR-TSXV, AXREF-OTCQB] said geophysical surveys have identified a major new sulphide mineralized system adjacent to the Aurora porphyry copper-gold discovery at the JOY Copper-Gold District in north-central British Columbia.
The company said the ongoing induced polarization ground geophysical surveys are one component of a $20 million exploration program which is funded by Freeport-McMoran Mineral Properties Canada Inc. (a unit of Freeport-McMoran Inc. [FCX-NYSE]). The project is held by AuRora Minerals Ltd., a private joint venture company owned 60% by Freeport and 40% by Amarc.
In a press release Wednesday, Amarc said recent IP results have expanded JOY’s potential by expanding the original 4.5 square kilometre NWG sulphide system that hosts the Aurora gold-copper deposit eastward over an area that now covers 7.0 square kilometres. Exploration highlights include the discovery of a new and still open 4.5 square kilometre sulphide system named the ROE Target, adjacent to the east of the expanded NWG sulphide system and the expansion of the White Pass sulphide system that hosts the historical Brenda gold-copper deposit from 3.0 to 5.0 square kilometres.
“This season’s on-going exploration programs include core drilling with three rigs and extensive geophysical, geological and geochemical surveys, which continue to unlock what Amarc considers to be the Tier 1 potential of the JOY Gold-Copper District in the Toodoggone Region of British Columbia,’’ said Amarc President and CEO Diane Nicolson. “The initial IP survey results suggest the possibility that the NWG sulphide system hosting the AuRORA deposit, and the ROE and the White Pass mineralized systems (the latter of which hosts the Brenda deposit) plus another target area called NUB could potentially form a 12-kilometre long east-northeast cluster of porphyry gold-copper deposits at different levels: the AuRORA Trend,” she said. “If so, this trend would be sub-parallel to JOY’s northeast-oriented PINE Trend, which is located some 11 kilometres to the south.’’
Amarc is advancing the JOY, DUKE, and IKE porphyry copper-gold districts located in different porphyry regions of northern, central and southern B.C. respectively.
Amarc shares advanced on the news, rising 0.950% or $0.01 to $1.06. The shares trade in a 52-week range of $1.52 and 65 cents.
Nicolson went on to say that the new AurRORA Trend is located some 22 kilometres to the north of the east-northeast striking trend of Kemess gold-copper deposits owned by Centerra Gold Inc. [CG-TSX, CGAU-NYSE]. “Amarc is excited about this new potential and continues to believe that we have just scratched the surface of this extensive copper-gold district, with the strong gold and copper endowment of the AuRORA deposit discovery that remains open to expansion, being the key cornerstone to the development not only of the JOY District but to the entire Toodoggone Region.’’
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