(via Thenewswire.ca)
Rancho Santa Margarita, CA, April 8, 2013 - Amarok Resources Inc. (OTCQB: AMOK) Amarok Resources Inc. (the "Company" or "Amarok") announces that an Entry Agreement with Barrick Gold Exploration Inc. ("Barrick") has been signed between Barrick and Amarok's JV partner Trio Gold Corp. ("Trio) authorizing Barrick access to fly over the Rodeo Creek property with a helicopter gravity geophysical survey. This work will commence shortly. The Rodeo Creek property consisting of just under 600 acres of 29 unpatented claims is located immediately north of Barrick's Storm and Dee mines along the northern portion of the Carlin Trend, Nevada.
Amarok can earn a 75% interest in the property by spending $5.5 million. To date the company has spent $2.4 million on the Rodeo Creek property. On February 12, 2013, Amarok advanced to Trio the sum of $15,000 against the $150,000 payment due on April 1, 2013 pursuant to its February 9, 2010 agreement between Amarok and Trio, amended March 23, 2012. By pre-paying a portion of the April 1, 2013 payment, Trio has granted Amarok an extension to October 1, 2013 to pay the balance of $150,000. Trio further extended Amarok's right to earn their 75% interest in the Rodeo Creek property to December 31, 2014.
Amarok is continuing with preparations for a work program on its McNeil and Night Hawk claim blocks located within the Abitibi Greenstone belt, located approximately 30 miles southeast of Timmins, Ontario, Canada and approximately 35 miles west of Kirkland Lake, Ontario, Canada. Amarok's land holdings in this area cover over 27,000 acres. As part of the detailed exploration program for the area a high resolution airborne survey will be conducted over the Night Hawk, East Night Hawk and McNeil North claim blocks. The data from this airborne survey will be merged with the data from the survey, that was flown over the McNeil property.
The next phase of exploration and development for the McNeil property will include line cutting, surveying, geological mapping and sampling, a 75km IP survey and a preliminary drilling program. The company is continuing its discussions with various groups to secure the funding required to begin the program. Amarok's McNeil property is comprised of 256 claim units, approximately 10,100 acres (4100 hectares), and consists of numerous high-grade shafts and past showings along with many new discoveries made through recent work programs. Throughout the McNeil property, there are numerous and extensive mineralized gold zones and occurrences. The Isadore-MicMac zone, within the McNeil property, covers an area that is 1.2 miles in length and 0.6 miles in width, with numerous gold showings and mineralized zones. Given the size and extent of the Isadore-MicMac zone, the potential exists for a large tonnage, "Super-Pit" style gold enrichment similar to those being currently mined near Timmins Ontario by Porcupine Gold Mines. Porcupine Gold Mines is owned by GoldCorp and consists of the Hoyle Pond and Dome underground mines.
The Abitibi Greenstone belt is host to one of North America's largest gold producing districts along with the famous Porcupine-Destor fault zone. The Porcupine Mining District (Timmins) has produced in excess of 70 million ounces of gold from such famous producers as the Hollinger Mine, McIntyre Mine, Pamour Mine and Canada's longest continuously producing gold mine with nearly 100 years continuous production, the Dome Mine. The Kirkland Lake area, known as the Larder Lake Mining District, has produced in excess of 24 million ounces of gold with such famous producers as the Wright-Hargreaves Mine, the Lakeshore Mine and the Macassa Gold Mine. Combined these two districts have produced over 80 % of Canada's total gold production to date.
The company is pleased to announce that Dr. Earl Abbott has joined its Board of Directors in the capacity as Vice President and Director. Dr. Abbott is a Certified Professional Geologist and Qualified Person with over forty years' experience in mineral and oil & gas exploration for large and small companies in the western United States, China, Mongolia, Alaska, Mexico, Ghana, and Costa Rica. Dr. Abbott brings extensive geological experience both in Nevada and internationally to the company's board. Amarok also announces the resignation of Dave Gibson as its VP of Exploration and Director. We thank Mr. Gibson for his dedicated service with the company. Mr. Gibson will remain with the company in the capacity of Project Consultant, overseeing the company's McNeil and Night Hawk project's.
Amarok Resources is a US based exploration and development Company, focusing on the acquisition and development of Gold, Silver and base metal projects which demonstrate high probability for near term production. Amarok is quoted on the OTCQB under the symbol AMOK.
AMOK encourages those interested in our Company to rely only on information included in our filings with the United States Securities and Exchange Commission which can be found at www.sec.gov. Statements released by Amarok Resources, Inc. that are not purely historical are forward-looking within the meaning of the "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding the company's expectations, hopes, intentions, and strategies for the future. Investors are cautioned that forward-looking statements involve risk and uncertainties that may affect the company's business prospects and performance. The company's actual results could differ materially from those in such forward-looking statements. Risk factors include but are not limited to general economic, competitive, governmental, and technological factors as discussed in the company's filings with the SEC on Forms 10-K, 10-Q, and 8-K. The company does not undertake any responsibility to update the forward-looking statements contained in this release.
For additional information please contact:
Amarok Resources, Inc.
30021 Tomas Street, Suite 300
Rancho Santa Margarita, CA 92688
Telephone: 949-682-7889
Email: info@amarokresources.com
Visit the Amarok Resources, Inc. web site at www.amarokresources.com. Information included on the Company's website is not incorporated herein by reference or otherwise.
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