Asian Mineral Resources Files NI 43-101 Technical Report for Its Holt Property on Vancouver Island in British Columbia
February 11 2019 - 2:30PM
Asian Mineral Resources Limited
(
the “Company” or “AMR”) (ASN-TSX
Venture) is pleased to announce that it has filed
on SEDAR a National Instrument 43-101 (“NI 43-101”) technical
report for its Holt property located on Vancouver Island in British
Columbia.
The technical report entitled “Technical Report
on the Holt Property, Victoria Mining Division, British Columbia,
Canada” dated December 31, 2018, was prepared in accordance with
National Instrument 43-101 – “Standards of Disclosure for Mineral
projects” and can be found under the profile of the company on
SEDAR.com. The technical report was independently prepared by
Thomas H. Carpenter, B.Sc., P.Geo.
The Holt property is located approximately 10 km
southwest of Duncan, B.C. in the Victoria Mining Division in south
Vancouver Island. The Company entered a Property Option and
Joint Venture Agreement with Island Time Exploration Ltd. (“Island
Time”). The property is owned by Island Time, subject to a 2%
NSR. Under the terms of the agreement, AMR could earn a 75%
interest in the Property by spending $300,000 on exploration by
December 31, 2019.
In 2018, geological mapping, rock sampling, rock
soil and silt sampling, and an airborne magnetometer survey were
completed by Island Time. Soil sampling results include
anomalous copper values of up to 145 ppm, while silt sampling
resulted in copper, lead, and zinc values of up to 122 ppm, 10 ppm,
and 182 ppm, respectively. Rock samples contained quartz
veining and/or sulphides with gold values up to 0.074 ppm, silver
values up to 11.3 ppm, and copper values of up to 8080 ppm.
Details of the sampling parameters, sample preparation, analysis,
and security are contained in the 43-101 report.
A two-stage exploration programs has been
suggested which focuses on the northwest trending, potentially
VMS-bearing Sicker Group rocks, as well as the area of the property
possibly underlain by intrusive rocks with potentially associated
skarn mineralization.
About Asian Mineral Resources
Limited
The Company formerly owned and operated the Ban
Phuc Nickel Mine in Vietnam. Following a strategic review
process, AMR announced on July 17, 2018 the completion of the sale
of the Ban Phuc Nickel Mine, and that it had entered into an option
agreement with Island Time Exploration Limited for the exclusive
right to acquire up to 75% interest in four mineral titles
totalling 3,687 hectares situated east of Duncan in the Victoria
Mining Division, with primary target of volcanogenic, polymetallic
massive sulphides.
For further
information:
Paula KemberChief Financial OfficerTelephone:
(416) 360-3412
Neither the TSX Venture Exchange
nor its Regulation Services Provider (as that term is defined in
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
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