TCM - Thompson Creek
Amarc, Thompson firm up option agreement for IKE
2016-02-29 09:58 ET - News Release
See News Release (C-AHR) Amarc Resources Ltd
Mr. Ronald Thiessen of Amarc Resources reports
Amarc Resources Ltd. has finalized a definitive agreement with Thompson Creek Metals Company Inc. in order to advance the IKE porphyry copper discovery in south-central British Columbia. Under the agreement, Thompson Creek has the option to acquire up to a 50-per-cent interest in the IKE project through a staged investment process.
Thompson Creek has the option to acquire an initial 30-per-cent interest through staged investments totalling $15-million on or before Dec. 31, 2019, of which $3-million was completed in 2015. Subsequently, Thompson Creek can acquire an additional 20-per-cent interest, subject to certain conditions, including completing a feasibility study within a two-year period that can be extended to three years in certain circumstances.
The IKE copper-molybdenum-silver porphyry discovery, together with the surrounding district of highly prospective porphyry copper (plus or minus molybdenum, plus or minus silver, plus or minus gold) targets yet to be drill-tested, have the potential to possess the grades and resources necessary to develop an important mining camp. The project is located 45 kilometres northwest of Gold Bridge, in south-central B.C., near the heartland of B.C.'s producing porphyry copper mines.
Assay results from all 18 holes (10,437 metres) drilled by Amarc at IKE since 2014, combined with results from geological, geochemical and geophysical surveys completed outward from the area drilled, indicate the presence of an important porphyry-style copper-molybdenum-silver deposit (see Amarc news release dated Dec. 9, 2015). All drill holes have intersected varying amounts of chalcopyrite and molybdenite mineralization over a broad area measuring 1,200 metres east-west by 1,000 metres north-south and extending to depths of over 500 metres. The deposit remains open to expansion in all lateral directions and to depth.
Amarc, Thompson firm up option agreement for IKE
2016-02-29 09:58 ET - News Release
See News Release (C-AHR) Amarc Resources Ltd
Mr. Ronald Thiessen of Amarc Resources reports
Amarc Resources Ltd. has finalized a definitive agreement with Thompson Creek Metals Company Inc. in order to advance the IKE porphyry copper discovery in south-central British Columbia. Under the agreement, Thompson Creek has the option to acquire up to a 50-per-cent interest in the IKE project through a staged investment process.
Thompson Creek has the option to acquire an initial 30-per-cent interest through staged investments totalling $15-million on or before Dec. 31, 2019, of which $3-million was completed in 2015. Subsequently, Thompson Creek can acquire an additional 20-per-cent interest, subject to certain conditions, including completing a feasibility study within a two-year period that can be extended to three years in certain circumstances.
The IKE copper-molybdenum-silver porphyry discovery, together with the surrounding district of highly prospective porphyry copper (plus or minus molybdenum, plus or minus silver, plus or minus gold) targets yet to be drill-tested, have the potential to possess the grades and resources necessary to develop an important mining camp. The project is located 45 kilometres northwest of Gold Bridge, in south-central B.C., near the heartland of B.C.'s producing porphyry copper mines.
Assay results from all 18 holes (10,437 metres) drilled by Amarc at IKE since 2014, combined with results from geological, geochemical and geophysical surveys completed outward from the area drilled, indicate the presence of an important porphyry-style copper-molybdenum-silver deposit (see Amarc news release dated Dec. 9, 2015). All drill holes have intersected varying amounts of chalcopyrite and molybdenite mineralization over a broad area measuring 1,200 metres east-west by 1,000 metres north-south and extending to depths of over 500 metres. The deposit remains open to expansion in all lateral directions and to depth.