Newton Gold Project
Amarc is a Vancouver-based mineral exploration and development company focused on making the next major gold discovery in BC. With a strong working capital position of $12.5 million, its exploration activities are focused on its wholly-owned Newton and the Galileo properties which lie adjacent to New Gold's Blackwater property.
About This Project
The Newton property lies within BC's exciting new gold belt, which includes New Gold Inc's seven million ounce-plus bulk tonnage Blackwater gold deposit. The age and geological characteristics of the gold mineralization at Newton demonstrate striking similarities to the mineralization at Blackwater.
In 2010, Amarc made an important new bulk-tonnage gold discovery at Newton within an eight square kilometre mineralized system. The company's 2011 drill program confirmed the Newton discovery zone extends under shallow cover. Delineation drilling of the Newton gold discovery commenced in late September 2011 and has progressed rapidly, with the completion of approximately 16,000 metres in 45 diamond drill holes (holes 11044 to 12088). Total drilling of the Newton deposit is approximately 23,300 metres in 72 holes.
In addition, four porphyry-style copper-molybdenum drill targets have been identified some 28 kilometres south of the Newton discovery for drill testing.
Amarc holds a 100% interest in the Newton property which is subject to a 5% net profit interest to Newton Gold Corp. In addition, the claims underlying the Newton discovery are subject to a net smelter returns royalty to underlying property vendors which can be purchased for $2 million.
In September 2012, Amarc announced an initial National Instrument 43-101 compliant mineral resource estimate for its Newton bulk-tonnage gold-silver project. The resource estimate is based on 24,513 metres of core drilling in 78 holes completed up to June 30, 2012. It confirms that Newton is a significant bulk tonnage gold discovery that remains open to further expansion. At a 0.25 g/t gold cut-off, Inferred Mineral Resources comprise 111.5 million tonnes grading 0.44 g/t gold and 2.1 g/t silver, containing 1.6 million ounces of gold and 7.7 million ounces of silver.
Drilling activities at Newton were suspended at the end of June 2012 in order that all assay results and geological information could be complied and assessed and an initial resource estimate for Newton completed. This work is now completed and provides Amarc's management with valuable information for ongoing strategic planning for the Company.
More Information Online
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Estimated Project Start Date
Senior Adviser, Investor Relations
Amarc Resources Ltd.