World News: 19:30 GMT Monday 11th February 2019. [Asian Mineral Resources Limited via Globe Newswire via SPi World News]
TORONTO, Feb. 11, 2019 (GLOBE NEWSWIRE) -- ( 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.
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.
Paula KemberChief Financial OfficerTelephone: (416) 360-3412
Globe Newswire: 19:30 GMT Monday 11th February 2019
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