Looking NE over IKE Deposit Discovery & Higher Grade Cirque Areas
Three Phase Drill Program to Delineate IKE Deposit
Amarc has discovered a significant body of porphyry Cu-Mo-Ag mineralization at the IKE Deposit.
Highlights from Amarc’s work
- Delineation of an extensive 9 km2 mineralized system defined from IP chargeability geophysics, geochemical talus fines anomalies and geological alteration mapping
- Drilling of 15,455 m of core in 26 widely-spaced holes that returned long and continuous intercepts of chalcopyrite and molybdenite mineralization with encouraging grades (see IKE Table)
- Identification of mineralization over an area of 1,200 m E-W x 1,000 m N-S, and from surface to more than 875 m in depth, that remains open to expansion
- Geological observations, initial petrographic studies and multi-element analyses suggest good potential to produce clean, good quality, high demand Cu and Mo concentrates by standard flotation processing
Amarc is planning for an expanded phased drill program at the IKE Deposit with the goal of establishing a mineral resource, which will provide the basis to commence initial economic studies.
Selected Amarc Drill Hole Results
|DRILL HOLE||FROM (m)||TO (m)||INT. (m)1,2,3||Cu (%)||Au (g/t)||Ag (g/t)||Mo (%)||CuEQ(%)4,5|
|>=0.30 & <0.50||CuEQ%|
- Widths reported are drill widths, such that the thicknesses are unknown.
- All assay intervals represent length-weighted averages.
- Some figures may not sum exactly due to rounding. (-) means not assayed for.
- Copper equivalent (CuEQ) calculations use metal prices of: Cu US$3.00/lb, Mo US$12.00/lb, Ag US$18.00/oz and Au US$1,400.00/oz and conceptual recoveries of: Cu 90%, Au 72%, Ag 67% and Mo 82%. Conversion of metals to an equivalent Cu grade based on these metal prices is relative to the Cu price per unit mass factored by predicted recoveries for those metals normalized to the copper recovery. The metal equivalencies for each metal are added to the Cu grade. The general formula for this is: CuEQ % = Cu% + (Au g/t * (Au recovery / Cu recovery) * (Au $ per oz/ 31.1034768) / (Cu $ per lb* 22.04623)) + (Ag g/t * (Ag recovery / Cu recovery) * (Ag $ per oz/ 31.1034768) / (Cu $ per lb* 22.04623)) + (Mo % * (Mo recovery / Cu recovery) * (Mo $ per lb / Cu $ per lb)).
- The estimated metallurgical recoveries are conceptual in nature. There is no guarantee that the metallurgical testing required to determine metal recoveries will be done or, if done, the metallurgical recoveries could be at the level of the conceptual recoveries used to determine the CuEQ.
- Details of analysis, QA/QC and data verification for the IKE Deposit drilling are provided in the 2020 IKE National Instrument 43-101 Technical Report, which is posted on the Amarc website and the Company’s profile on SEDAR.
- (-) means not assayed for.