Amarc Resources Ltd. (AHR.V) announced that it has entered into a purchase agreement to acquire six mineral claims comprising approximately 70 square kilometres adjacent to its Hubble property in south-central British Columbia. Pursuant to the agreement, Amarc can acquire a 100% interest in the property by issuing 80,000 common shares and making a cash payment of $50,000. The agreement is subject to acceptance by the TSX Venture Exchange. The Amarc shares will be subject to a statutory four-month hold period under Canadian securities requirements.
Amarc holds a 100% interest in the Hubble property, located within the Blackwater district approximately 35 kilometres northeast of New Gold's (NGD.TO) Blackwater deposit for which an Indicated Resource of 184 million tonnes at 0.94g/t gold and 4.9 g/t silver and an Inferred Resource of 43 million tonnes at 0.88 g/t gold and 4.7 g/t silver at a 0.3 g/t gold cutâoff has been announced (New Gold website). New Gold acquired the Blackwater deposit from Richfield Ventures Corp. in June 2011 through a transaction valued at approximately $550 million).
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
