Amarc Resources Ltd 6-K, filed Dec 17, 2020
Amarc Resources Ltd (AXREF)
6-K
2020-12-17
For: 2020-12-17
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April 07, 2026
About this 6-K
Amarc Resources Ltd filed this 6-K on December 17, 2020.
UNITED
STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR
15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
As at
December 17,
2020
Commission
File Number: 000-49869
AMARC RESOURCES LTD.
(Translation
of registrant's name into English)
15th Floor
– 1040 W. Georgia Street
Vancouver, British Columbia
Canada V6E 4H1
(Address
of principal executive offices)
Indicate
by check mark whether the registrant files or will file annual
reports under cover Form 20-F or Form 40-F.
[X]
Form 20-F [ ] Form 40-F
Indicate
by check mark if the registrant is submitting the Form 6-K in paper
as permitted by Regulation S-T Rule 101(b)(1):
[ ]
Indicate
by check mark if the registrant is submitting the Form 6-K in paper
as permitted by Regulation S-T Rule 101(b)(7):
[ ]
SUBMITTED HEREWITH
Exhibits
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Press Release dated
December 17, 2020 Amarc Divests the
Newton Gold Property to Carlyle and Retains a 2% NSR
Royalty
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SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf
by the undersigned, thereunto duly authorized.
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Amarc
Resources Ltd.
(Registrant)
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Date: December 17,
2020
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By:
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/s/ Trevor
Thomas
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Trevor
Thomas
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Secretary
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Exhibit
99.1
AMARC DIVESTS THE NEWTON GOLD PROPERTY TO CARLYLE AND
RETAINS A 2% NSR ROYALTY
December 17, 2020, Vancouver, BC – Amarc Resources
Ltd. (“Amarc” or the “Company”) (TSX-V:
AHR; OTCBB: AXREF) reports that it has
closed the previously announced sale of its Newton Property (the
“Property” or “Newton”) located in
south-central British Columbia (“BC”) (see Amarc news
release December 9, 2020). The arm’s length private company,
Isaac Mining Corp.
(“IMC”), has achieved the go-public event required
under the terms of the agreement by amalgamating with a
wholly-owned subsidiary of Carlyle Commodities Corp.
(“Carlyle”) (CSE:CCC, FSE:1OZ, OTC:DLRYF) pursuant to
which Carlyle has acquired all of the issued and outstanding shares
of IMC and its treasury of more than $2 million (see Carlyle
release December 17, 2020).
Also
under the terms of the agreement, Amarc has received consideration
comprising total cash of $300,000 and 5.5 million equity units
(share plus warrant) in Carlyle valued at $0.25 per unit. Amarc now
holds more than 12% of the issued and outstanding shares in
Carlyle. In addition, Amarc retains a 2% Net Smelter Return
(“NSR”) Royalty in the Property.
The
divestment of the Newton Property allows Amarc to retain exposure
to the upside gold potential at Newton through its equity position
in Carlyle and the retained NSR Royalty, whilst maintaining
strategic focus on the development of its three high-value and
expansive, 100%-owned copper±gold districts - the IKE, JOY and
DUKE. These districts are host to four known copper±gold
deposits that are prime for moving toward development, and also 10
porphyry copper-gold deposit targets that are fully permitted and
ready for drill discovery. Combined, Amarc’s portfolio
provides tremendous optionality for work program advancement and
partnership transactions.
The Newton Gold Property
Exploration
drilling of 27,944 m in 89 core holes completed by Amarc at Newton
Property successfully discovered and delineated a bulk tonnage, low
to intermediate sulphidation gold-silver deposit, which extends
over an area of approximately 800 m by 400 m and to depths of
around 560 m from surface. An initial mineral resource estimate
announced in September 2012 confirms Newton as a significant bulk
tonnage gold discovery that remains open to further expansion. At a
0.25 g/t Au cut-off, the Inferred Mineral Resources comprise 111.5
million tonnes grading 0.44 g/t Au and 2.1 g/t Ag, containing 1.6
million ounces of Au and 7.7 million ounces of Ag1.
Exploration
and resource expansion potential are indicated at Newton by the
large plus 7 km2 hydrothermal system
as outlined by an Induced Polarization geophysical chargeability
anomaly and metal anomalies from wide-spaced historical wildcat
drilling. This large, fertile mineral
system extends well beyond the limits of the current resource and
is largely concealed under shallow cover. The alteration
types, metal associations and geological setting at Newton are
nearly identical to those that characterize several major
intrusion-related epithermal gold deposits in BC – including
the important Blackwater-Davidson deposit.
The
Property is located some 100 km west of the City of Williams Lake,
BC, in a region characterized by gently rolling hills and other
characteristics favorable for project development. The district is
well served by existing transportation and power infrastructure and
a skilled workforce, which support a number of operating mines, as
well as late-stage mineral development and exploration
projects.
1 The Newton Inferred Mineral Resources was
prepared using geostatistical methods by technical staff at Hunter
Dickinson Inc. and audited by geological and mining consultants at
Roscoe Postle Associates Inc. under the direction of Reno
Pressarco, P. Geo., an independent Qualified Person. The contained
metal estimates are based on 100% recoveries. The Effective Date of
the Mineral Resource is July 4, 2012 and the Newton Technical
Report is filed on www.sedar.com under Amarc’s profile.
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About Amarc Resources Ltd.
Amarc
is a mineral exploration and development company with an
experienced and successful management team focused on developing a
new generation of long-life, high-value BC porphyry copper-gold
mines. By combining strong projects and funding with successful
management, Amarc has created a solid platform to create value from
its exploration and development-stage assets.
Amarc
is advancing the 100%-owned IKE, DUKE and JOY porphyry
copper±gold deposit projects located in different prolific
porphyry districts in southern, central and northern BC,
respectively. Each of the three projects is located in proximity to
industrial infrastructure – including power, highways and
rail. These projects represent significant potential for the
development of multiple and important-scale, porphyry
copper±gold deposits.
Amarc
is associated with HDI, a diversified, global mining company with a
30-year history of porphyry discovery and development success.
Previous and current HDI projects include some of BC’s and
the world’s most important porphyry deposits – such as
Pebble, Mount Milligan, Kemess South, Kemess North, Gibraltar,
Prosperity, Xietongmen, Newtongmen, Florence, Casino, Sisson,
Maggie, IKE and Pine. From its head office in Vancouver, Canada,
HDI applies its unique strengths and capabilities to acquire,
develop, operate and monetize mineral projects.
Amarc
works closely with local governments, indigenous groups and other
project stakeholders in order to advance its mineral properties
responsibly, and to do so in a manner that contributes to
sustainable community and economic development. Amarc senior
management and project teams seek early and meaningful engagement
with local landowners, First Nations and other land interests to
ensure its mineral exploration and development activities are
well-coordinated and broadly supported, to address local priorities
and concerns, and to optimize opportunities for collaboration and
local benefit. In particular, the Company seeks to establish
mutually beneficial partnerships with indigenous groups within
whose traditional territories its projects are located –
including through the provision of jobs, training programs,
contract opportunities, capacity funding agreements and sponsorship
of community events. All Amarc work programs are carefully planned
to achieve high levels of environmental and social
performance.
Qualified Person as Defined Under National Instrument
43-101
Mark Rebagliati, P. Eng., a Qualified Person as defined under
National Instrument 43-101, has reviewed and approved the technical
content in this release.
For
further details on Amarc Resources Ltd., please visit the
Company’s website at www.amarcresources.com or contact Dr.
Diane Nicolson, President and CEO, at (604) 684-6365 or within
North America at 1-800-667-2114.
ON
BEHALF OF THE BOARD
Dr.
Diane Nicolson
President
and CEO
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Neither
the TSX Venture Exchange nor any other regulatory authority accepts
responsibility for the adequacy or accuracy of this
release.
Forward Looking and other Cautionary Information
This
news release includes certain statements that may be deemed
"forward-looking statements". All statements in this release, other
than statements of historical facts, especially those that address
estimated resource quantities, grades and contained metals, are
forward-looking statements because they are generally made on the
basis of estimation and interpolation from a limited number of
drill holes. Although diamond drill hole core provides valuable
information about the size, shape and geology of an exploration
project, there will always remain a significant degree of
uncertainty in connection with these valuation factors until a
deposit has been extensively drilled on closely spaced centers,
which has occurred only in specific areas on the Newton Property.
Although the Company believes the expectations expressed in such
forward-looking statements are based on reasonable assumptions,
such statements are not guarantees of future performance and actual
results or developments may differ materially from those in the
forward-looking statements. Assumptions used by the Company to
develop forward-looking statements include the following: Amarc's
projects will obtain all required environmental and other permits
and all land use and other licenses, studies and exploration of
Amarc's projects will continue to be positive, and no geological or
technical problems will occur. Factors that could cause actual
results to differ materially from those in forward-looking
statements include market prices, potential environmental issues or
liabilities associated with exploration, development and mining
activities, exploitation and exploration successes, continuity of
mineralization, uncertainties related to the ability to obtain
necessary permits, licenses and tenure and delays due to third
party opposition, changes in and the effect of government policies
regarding mining and natural resource exploration and exploitation,
exploration and development of properties located within Aboriginal
groups asserted territories may affect or be perceived to affect
asserted aboriginal rights and title, which may cause permitting
delays or opposition by Aboriginal groups, continued availability
of capital and financing, and general economic, market or business
conditions, as well as risks relating to the uncertainties with
respect to the effects of COVID-19. Investors are cautioned that
any such statements are not guarantees of future performance and
actual results or developments may differ materially from those
projected in the forward-looking statements. For more information
on Amarc Resources Ltd., investors should review Amarc's annual
Form 20-F filing with the United States Securities and Exchange
Commission at www.sec.gov and its home jurisdiction filings that
are available at www.sedar.com.
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