The Newton property lies within BC's exciting new gold belt, which includes New Gold Inc.'s eight million ounce bulk tonnage Blackwater gold deposit. The age and geological characteristics of the gold mineralization at Newton demonstrate striking similarities to the mineralization at Blackwater.
Newton - Bulk Tonnage Gold Discovery
In 2009, Amarc made an important new bulk-tonnage gold discovery at Newton within a seven square kilometre mineralized system. The Company's 2010- 2011 drill program confirmed the Newton discovery zone extended under shallow cover.
Delineation drilling of the Newton gold discovery commenced in late September 2010 and progressed rapidly, with the completion of approximately 16,000 metres in 45 diamond drill holes.
An initial mineral resource estimate based on 24,513 metres of core drilling in 78 holes completed up to June 30, 2012, confirms that Newton is a significant bulk tonnage gold discovery. At a 0.25 g/t gold cut-off, Newton's 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 silver1.
1 The QP for the resource estimate is Reno Pressacco, P.Geo., Roscoe Postle Associates Inc
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.