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In November 2014, Amarc announced a new copper-molybdenum-silver discovery on its IKE project in Southern British Columbia. The project had intermittent exploration between 1969 and 2011 with three historical drill holes.
The “Drill Tracker” highlights early stage drilling and trenching results, giving a metric to evaluate exploration results and compare them against their peer group. In this report we highlight a dozen exploration companies displaying their projects in the Core Shack at the AME BC Roundup held in Vancouver between January 26 and 29, 2014.
Amarc Resources (TSXV:AHR)
Price: $0.09
Market cap: $12.7
Cash estimate: $2 million (estimate)
Project: IKE
Country: BC, Canada
Ownership: Option to earn 100 percent
- In November 2014, Amarc announced a new copper-molybdenum–silver discovery on its IKE project in Southern British Columbia. The project had intermittent exploration between 1969 and 2011 with three historical drill holes.
- Highlights from the 2014 drilling include:
- Discovery hole: 247 meters at 0.28 percent copper, 0.03 percent moly and 2 g/t silver
- 308 meters at 0.26 percent copper, 0.032 percent moly and 1.8 g/t silver
- 234 meters at 0.26 percent copper, 0.04 percent moly and 1.7 g/t silver
- Historical hole: 182 meters at 0.31 percent copper and 0.022 percent moly
- The IKE mineralization covers an area of 1,200 meters by 600 meters and remains open in all directions. A historical airborne ZTEM geophysical survey indicates that the area of alteration extends well beyond the drill-tested area, as do the results of the new airborne magnetic survey and the post-drilling induced polarization survey.
- The company has acquired a number of other properties in the area, with compelling copper and moly in-silt samples taken from the drainage systems. Included in the exploration area is the Rowbottom property, which has 11 historical percussion holes (less than 90 meters deep) with assays up to 56 meters of 0.41 percent copper and 0.034 percent moly.
- The company is currently compiling historical data and permitting ground geophysical (IP) programs.
Project status: New copper-moly discovery December 2014
Resource: N/A
Catalysts: Additional geophysics
Disclosure: I, Wayne Hewgill, certify that the information in this report is sourced through public documents that are believed to be reliable, but accuracy and completeness as represented in this report cannot be guaranteed. The author has not received payment from any of the companies covered in this report.
At the date of this release the author, Wayne Hewgill, owns shares in the following companies:
This report makes not recommendations to buy sell or hold.
Wayne Hewgill is a geologist with extensive knowledge of the global mining industry gained through 30 years of diversified experience in mineral exploration and new business development in Canada, as well as 10 years living in Africa, New Zealand and Australia. He was previously senior research officer at BHP Billiton, an executive with an exploration company working in Argentina and a mining analyst at three Vancouver-based financial groups where he developed the Drill Tracker database in 2006. He holds a B.Sc. in Geology from the University of British Columbia and is registered as a Professional Geoscientist (P.Geo) with APEGBC.
