The Greater Empress area is a sizable subarea of Amarc's extensive 100% owned IKE Cu and Au district, and is located 6 km north of the Company's substantive IKE porphyry Cu-Mo-Ag discovery. A comprehensive review by Amarc's technical team of historical data throughout the Greater Empress area has unlocked a high potential for the discovery of substantial intrusion-related replacement and porphyry Cu-Au+/-Mo-Ag deposits centered on the Empress deposit.
The 2020 IKE Project Technical Report (the 'Report') provides additional details on the Empress Deposit and the entire Greater Empress area. The Report is available on Amarc's website at www.amarcresources.com/ahr/Home.asp and under the Company's profile at www.sedar.com.
The Empress Cu-Au-Ag replacement deposit is a significant body of mineralization, characterized from historical drilling by its common high grade intersections and relatively good vertical and lateral grade continuity. These features support the strong potential for discovery of new high grade extensions to the deposit. Important potential exits for a well-planned core drilling program to expand the mineralization which remains open.
In addition to the Empress deposit, the 35 km2 Greater Empress area includes seven identified compelling porphyry and replacement-style Cu-Au+/-Mo+/-Ag deposit and exploration targets. The deposit targets include,
These targets are either not fully drill delineated or have been tested only by shallow, widely-spaced historical reconnaissance percussion drilling: and can with focused exploration be brought to a drill ready status. Amarc has a permit for up to 300 drill holes for the
Management is considering its options to advance this exciting high grade Cu-Au segment of its extensive overall IKE district mineral tenures.
Amarc's IKE Cu and Au district is located in a fertile region of south-central
The Greater Empress area straddles the CPC contact with volcanic rocks to the north, over a strike length of 15 km. Strong and widespread alteration with abundant sulphides is associated with a variety of deposit types including porphyry Cu+/-Au+/-Mo+/-Ag and high temperature Cu-Au-Ag replacement, as well as Au-Ag high sulphidation and possibly low sulphidation epithermal systems. The range of paleodepth indicated by these deposit types increases the possibility for the preservation of deposits in the IKE district, so increasing the discovery potential.
Amarc's technical team diligently compiled, verified and integrated Greater Empress area historical information. This compilation of data from geochemical and geophysical surveys and drilling (including 138 core holes totaling 19,298 m averaging approximately 140 m depth, and 96 short percussion holes totaling 4,382 m averaging approximately 46 m in depth for which only Cu and Mo assay data is available), combined with the geological and geophysical survey data from the Company's programs, has permitted a rapid advancement in the understanding of the high value development potential in the Greater Empress area.
Empress Cu-Au-Ag Replacement Deposit: Historical drilling at Empress has indicated a significant body of good grade Cu-Au mineralization, which remains open to expansion with a modern core drilling program. Mineralization at the Empress deposit is considered to have formed by the replacement of previously altered volcanics by a quartz-magnetite-sulphide assemblage, with higher Cu-Au-Ag grades commonly occurring within 100 m in vertical distance above the CPC's contact, within the overlying volcanics. An initial examination of historical drill core by the Amarc team recognized the nearby Granite porphyry Cu-Au-Ag-Mo deposit target, which is shallowly concealed by overburden. The Granite porphyry deposit target is considered a possible source of Empress replacement fluids. The Granite deposit target requires drill delineation.
Empress East Cu-Au-Ag Replacement Deposit Target: Located 1 km east of the Empress deposit, limited historical core holes drilled at the Empress This drilling together with moderate to locally strong IP chargeability responses, magnetic geophysical features, and results from historical Cu and Au soil geochemistry (>250 ppm Cu and 50 ppb Au which closely reflect the first three historical drill samples results at the base of overburden, see Report), indicate there is significant potential with further core drilling to enlarge this body of mineralization. Notably there is a complete absence of drill holes in the southern part of this target, which is at a position that is analogous to shallower, high grade Cu-Au-Ag replacement-style mineralization at the Empress deposit to the west.
Empress Gap Cu-Au-Ag Replacement Deposit Target: Results from limited historical drilling, comprising eleven shallow percussion drill holes and three deeper core holes, in the >1 km long
Granite Porphyry Cu+/-Au+/-Mo-Ag Deposit Target: Two zones of porphyry-style mineralization, the Granite and the Buzzer targets, support the model for derivation of mineralizing replacement fluids at Greater Empress, from these and other possible hidden porphyry deposits. Granite porphyry Cu+/-Au+/-Mo-Ag mineralization intersected in limited and tightly collared historical drill holes is located outboard of the CPC and directly to the north of the Empress deposit. Initial relogging by Amarc of selected historical drill core suggests multiple intrusions hosting Mo-rich and Cu-Au porphyry style mineralization associated with biotite-magnetite-sulphide alteration. This mineralization is at shallow depths beneath glacial overburden. Historical core drill intercepts include hole 91-49 which returned 92 m of 0.38% CuEQ1 @ 0.22% Cu, 0.23 g/t Au, 0.008% Mo and 0.4 g/t Ag. This target has not been adequately tested and mineralization remains open to expansion. Step-out drilling from the known mineralization is required.
Buzzer Cu-Au-Ag+/-Mo Porphyry Deposit Target: The Buzzer deposit target is located in the eastern side of the Greater Empress area inboard of the CPC contact) Historical drilling at Buzzer has intercepted high grade Cu-Au-Ag-Mo porphyry mineralization hosted in biotite altered intrusions. Whether these mineralized intrusions, are part of a small high level cupola or a large mineralized intrusive body below, as indicated by magnetic surveys, cannot be determined from the limited drilling.
The Granite and Buzzer porphyry systems demonstrate that significant porphyry-style mineralization is present in the Greater Empress, and that further exploration surveys and drilling have the potential to make new porphyry discoveries, both inboard and outboard from the CPC contact.
Empress West Cu-Au-Ag Exploration Target: This large target, which extends more than 2 km to the west of the Empress deposit along the favorable CPC-volcanic contact, has only been tested by widely-spaced and shallow percussion holes and a few core holes. It exhibits the same geological setting as the Empress deposit, and the potential to discover additional Cu-Au-Ag mineralization is indicated by the results of the historical drilling when combined with magnetic and IP survey data, and known Cu-Au-Mo anomalies in soils. Modern IP and drilling are required to test a series of defined targets (see Report).
About
Amarc is a mineral exploration and development company with an experienced and successful management team focused on developing a new generation of long-life, high value BC porphyry copper-gold mines. By combining high demand projects with successful management, Amarc has created a solid platform to create value from its exploration and development-stage assets.
Amarc is advancing the 100%-owned IKE, DUKE and JOY porphyry copper+/-gold deposit projects located in different prolific porphyry districts in southern, central and northern BC, respectively. Importantly, each of the three projects is located in proximity to industrial infrastructure-including power, highways and rail. These projects represent significant potential for the development of multiple and important-scale, porphyry copper+/-gold deposits.
Amarc is associated with HDI, a diversified, global mining company with a 30-year history of porphyry discovery and development success. Previous and current HDI projects include some of BC's and the world's most important porphyry deposits-such as Pebble,
Amarc works closely with local governments, indigenous groups and other stakeholders in order to advance its mineral projects responsibly, and to do so in a manner that contributes to sustainable community and economic development. We pursue early and meaningful engagement to ensure our mineral exploration and development activities are well coordinated and broadly supported, address local priorities and concerns, and optimize opportunities for collaboration. In particular, we seek to establish mutually beneficial partnerships with indigenous groups within whose traditional territories its projects are located, through the provision of jobs, training programs, contract opportunities, capacity funding agreements and sponsorship of community events. All Amarc's work programs are carefully planned to achieve high levels of environmental and social performance.
Contact:
Tel: 1-800-667-2114.
Forward Looking and other Cautionary Information
This news release includes certain statements that may be deemed 'forward-looking statements'. All such statements, other than statements of historical facts that address exploration drilling, exploitation activities and other related events or developments are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Assumptions used by the Company to develop forward-looking statements include the following: Amarc's projects will obtain all required environmental and other permits and all land use and other licenses, studies and exploration of Amarc's projects will continue to be positive, and no geological or technical problems will occur. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, potential environmental issues or liabilities associated with exploration, development and mining activities, exploitation and exploration successes, continuity of mineralization, uncertainties related to the ability to obtain necessary permits, licenses and tenure and delays due to third party opposition, changes in and the effect of government policies regarding mining and natural resource exploration and exploitation, exploration and development of properties located within Aboriginal groups asserted territories may affect or be perceived to affect asserted aboriginal rights and title, which may cause permitting delays or opposition by Aboriginal groups, continued availability of capital and financing, and general economic, market or business conditions, as well as risks relating to the uncertainties with respect to the effects of COVID-19. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. For more information on
(C) 2021 Electronic News Publishing, source