The mining newspaper for Alaska and Canada's North
The mining newspaper for Alaska and Canada's North
North of 60 Mining News – December 14, 2018
Amarc Resources Ltd. Dec. 11 said its inaugural exploration program at Joy has confirmed several high-potential porphyry gold-copper drill targets on this 464-square-kilometer property in north-central British Columbia.
This year's C$2.5 million exploration program at Joy was funded by Hudbay Minerals Inc., which has partnered with Amarc to explore and develop the Joy Project. Hudbay, which produces precious and base metals from operations in Canada and Peru, also paid C$1.15 million in 2018 in support of Amarc's acquisition of underlying claims.
Amarc, which is the operator of the exploration under the agreement with Hudbay, focused this year's program on the Finley Magnetic Corridor, a 20-kilometer- (12.5 miles) long northeast trending structural belt that host multiple magnetic, geochemical and induced polarization geophysical targets.
The company said this work – 1,356 line-kilometers of airborne magnetic, 63 line-kilometers of ground induced polarization geophysics surveys, collection of 2,676 soil geochemical samples, 946 meters of drilling in two holes and detailed geological mapping – has identified five clusters of drill-ready targets.
Each of these five targets has the potential to host a significant porphyry gold-copper deposit. Multiple drill holes are required for the initial testing of each target-area.
One other target at Joy was partially tested at the end of the 2018 season by two, widely spaced drill holes. Amarc said the first hole encountered classic porphyry-style alteration and sulfide mineralized rock units with geochemically anomalous gold concentrations throughout its 563-meter length that is compatible with the edge of a productive mineralized system. The second hole returned no significant results. The company said additional drilling to test the potential core of this mineralized system is warranted.
In addition, Amarc said it has identified three new targets this year that can be quickly advanced to drill-ready status through IP and geological surveys undertaken early in the 2019 season for potential drilling later in the year.
–SHANE LASLEY
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