Inde Gold Project is an exciting exploration play with big upside potential

 

Amarc Resources Ltd.            [AHR:TSX-V]

Latest Press Releases

Inde Gold Deposit, Durango. HDG has also agreed to assign to Amarc its option to purchase a 100-per-cent interest in the Inde gold property concession located in Durango state, Mexico, at HDG's cost of approximately $475,000 (U.S.) which includes $316,000 (U.S.) in option payments to the underlying vendors. The Inde purchase option requires remaining total payments of $3,775,000 (U.S.) to the third party property vendor, a Mexican national, at the rate of $250,000 (U.S.) per year for the next three years with a $3,025,000 (U.S.) balloon payment at the end of the fourth year. The property is subject to a net smelter royalty which can be purchased in its entirety for an additional $2-million (U.S.) The Inde property hosts a massive pyrite/gold carbonate replacement deposit that is strongly structurally focused, symmetrically zoned and contained entirely on the 275-hectare property. Known since 1532, Inde has historical production in excess of one million ounces of gold from near surface oxide ores over a strike length of 1.3 kilometers. These oxide ores graded 15 to 20 grams per tonne over an average width of five metres and were exploited from surface to an average depth of only 150 meters. Historical mine development of the oxide mineralization extended uninterrupted down-dip and along strike and stopped at the transition to sulphidic gold mineralization. The extent of the gold-bearing sulphidic mineralization along strike and down dip is totally untested by any historical drilling or tunnelling. Amarc's management believes multimillion ounce gold potential for the Inde deposit is clearly indicated. (El Viejo Gambusino remembers this property once belonging to Golden Hat years ago who were looking at the tailings - guess they dropped the ball!!)

Press Release 19Nov01

Amatapec claim, Guerrero. from Cia. Minera Mexicana de Huacana S.A. de C.V in September, 1996. The claim lies due N of Farallon's Campo Morado and Valerie Gold's Mamatla areas and covers 50km of strike length of Teloloapan Subterrane. Stream sediment, mapping and rock chip sampling began in October, 1996 focused on gold-rich massive sulfides. Robert G. Hunter, Chairman of Amarc announces that the Company has completed the compilation and analysis of the results of the exploration work done on the Amatepec Concession located 120 km southwest of Mexico City in Mexico State. While the work produced some anomalous results, they were of insufficient quality and quantity to warrant pursuing the project. The Company has informed the owners of its intention to discontinue with the project and is awaiting final acknowledgement from the Federal Mining Department in Mexico.

Press Release 5Mar99
CSW 15Nov96
GCN #174 9Sep96
GCN #172 5Sep96
CSW 16Aug9