Amarc Resources reported that 2016 field work at its IKE porphyry copper-molybdenum-silver discovery and nearby prospects in British Columbia’s Coast Range continue to support the potential for development of an important new mining camp. All 21 holes drilled at IKE during the past three years have intersected long intervals of chalcopyrite and molybdenite mineralization over an increasingly broad area measuring 1,200 meters (m) east-west by 1,000 m north-south and extending to depths of more than 500 m. The discovery remains open to expansion in all lateral directions and to depth.
The 2016 field work included 77 kilometers (km) of induced polarization surveys over four porphyry copper deposit targets nearby to IKE, 1,258 talus fine samples collected over these and three more newly emerging porphyry copper and precious metal epithermal deposit targets, and 130 km2 of regional geological mapping. Amarc is evaluating these targets with the goal of establishing and prioritizing porphyry copper deposit targets for future drilling.
The IKE project is located about 100 miles north of Vancouver and near the community of Gold Bridge, British Columbia. Current access to the site is by helicopter; however, there is good infrastructure in the region. Mainline logging roads leading northwest from Gold Bridge extend to within 13 km of the southern extent of the IKE property, and power, railways, and highways are all available in the area of Gold Bridge and the regional towns of Lillooet and Pemberton.
Thompson Creek Metals is earning into the IKE discovery and the surrounding district, with an initial goal of earning a 30% interest by funding $15 million of expenditures before December 31, 2019. After earning a 30% interest, the company may earn an additional 20% interest by, among other things, completing a feasibility study. Amarc is the current project operator.
Amarc is associated with the Hunter Dickinson group of companies. Ronald W. Thiessen, CEO of Hunter Dickinson Inc., is also CEO of Amarc Resources.