Amarc has made a significant copper-molybdenum-silver discovery at its IKE Project located in the heartland of BC's copper mining industry. Assay results received from an initial nine hole (5,400 metre) diamond drill program have confirmed the presence of an important porphyry-style deposit. Long, continuous intercepts at IKE have returned copper equivalent grades in the range of those for operating copper mines in the province. The extent, continuity and grade of the mineralization encountered indicate important potential resource volumes.
The nine discovery drill holes intersected chalcopyrite and molybdenite mineralization from surface over a broad area, measuring 1,200 metres east-west by 600 metres north-south and to a depth of approximately 500 metres.
Highlights from the nine hole discovery drill program include:
1Copper equivalent (CuEQ) calculations use metal prices of: Cu US$3.00/lb, Mo US$12.00/lb and Ag US$20.00/oz. Metallurgical recoveries and net smelter returns are assumed to be 100%.
- 247 metres of 0.42% CuEQ1 @ 0.28% Cu, 0.030% Mo and 2.0 g/t Ag
- 234 metres of 0.43% CuEQ @ 0.26% Cu, 0.040% Mo and 1.7 g/t Ag
- 92 metres of 0.41% CuEQ @ 0.31% Cu, 0.020% Mo and 2.1 g/t Ag
- 194 metres of 0.49% CuEQ @ 0.30% Cu, 0.046% Mo and 0.8 g/t Ag
- 308 metres of 0.41% CuEQ @ 0.26% Cu, 0.032% Mo and 1.8 g/t Ag
- 97 metres of 0.46% CuEQ @ 0.32% Cu, 0.030% Mo and 2.2 g/t Ag
Mineralization at IKE remains open in all lateral directions and to depth. The discovery holes and post-drilling geological, geochemical and geophysical surveys completed outwards from the drilled area indicate exciting expansion potential beyond the immediate area of the IKE drilling.
Amarc has secured additional mineral claims in the area surrounding IKE to cover other compelling deposit targets and potential infrastructure sites.