Amarc Resources Up 37 Percent on BC Copper-Molybdenum-Silver Discovery

Shares of Amarc Resources (TSXV:AHR) jumped this morning as the company announced it had made a significant copper-molybdenum-silver discovery at its IKE Project near Gold Bridge, British Columbia, based on assay results from an initial nine hole diamond drill program. The nine discovery holes intersected mineralization over a broad area, measuring 1,200 metres by 600 metres to depths of roughly 500 metres.

As of 11:54 AM e.s.t., Amarc was up 37 percent, trading at $0.11.

As quoted in the press release, highlights of drill results included:

• 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

Amarc Resources executive chairman, Bob Dickinson, said:

Our Amarc team has made an exciting new bulk tonnage porphyry copper-molybdenum-silver discovery at IKE in the heartland of British Columbia’s producing porphyry copper mines. The extent, continuity and grade of the mineralization encountered indicate important potential resource volumes. It is very encouraging that long, continuous intercepts at IKE have returned copper equivalent grades in the range of those for operating copper mines in the province. Amarc is planning an expanded drill program at IKE in 2015, with the goal of fully delineating the copper-molybdenum-silver deposit.

Click here to read the Amarc Resources (TSXV:AHR) press release