Amarc Resources Ltd.
Amarc is a British Columbia-based mineral exploration and development company focused on the discovery and development of a new generation of British Columbia ("BC") copper mines by advancing its 100% owned, high-quality IKE, DUKE and JOY copper districts.
Amarc's DUKE deposit and adjacent property is located 30 km north of two former copper-gold mines. Prior operators explored the DUKE deposit with surface surveys as well as 30 shallow diamond drill holes; many intersected significant lengths of porphyry copper-molybdenum-silver-gold mineralization that is open both laterally and to depth. Original historical assaying underestimated the metal values in drill core. Two >500 m holes drilled in 2017 by Amarc indicate the discovery of an important porphyry copper-molybdenum-silver-gold deposit, plus the most westerly of the two holes also encountered exciting adjacent bulk tonnage-style gold-copper mineralization that is open to expansion; additional drilling is planned for early 2018. Further, the surrounding Amarc mineral claims at DUKE host multiple covered porphyry copper deposit targets that require IP geophysics followed by drilling.
The IKE Project is located in south-central BC in the heartland of the copper mining industry. Amarc has made a significant new porphyry copper discovery at IKE, drilling over 12,000 m in 21 wide-spaced core holes that indicate the IKE deposit has the potential for extensive copper-molybdenum-silver resource volumes. Geophysical surveys at IKE have outlined a significant sulphide system that has the earmarks of important copper-molybdenum-silver mines like Morenci and Sierrita in Arizona and Valley in BC, for additional drill delineation. In addition, regional surveys have identified other important scale porphyry copper ± molybdenum ± gold ± silver targets that remain to be fully explored.
At the JOY Project, which includes the more recently acquired PINE claims, Amarc controls the northern extension to the prolific Kemess porphyry gold-copper district. Through extensive historical and current surface surveys and drilling, Amarc has identified a new, 20 km long northeast trending structural corridor that hosts over 10 compelling porphyry gold-copper deposit targets. The property also hosts the open-ended PINE gold-copper deposit, which has a historical resource.
Strong project-level financings have been established with Hudbay Minerals Inc. ("Hudbay"), an experienced mine operator, to advance the IKE and JOY projects. Hudbay may acquire a 60% interest in both projects for staged investments totaling $40 million and $20 million, respectively, over 5 years, and funding all expenditures for an EA certificate. Hudbay will fund further programs at IKE and JOY in 2018.
Amarc is publicly traded in Canada on the TSX Venture Exchange under the symbol AHR and in the United States on the Over the Counter Bulletin Board under the symbol AXREF.
December 11, 2018:
Amarc Delineates Multiple Drill-Ready Porphyry Copper-Gold Deposit Targets at Joy Property, British ColumbiaLearn more
November 06, 2018:
Amarc Drilling Continues to Successfully Delineate the IKE Copper-Molybdenum-Silver Discovery, British ColumbiaLearn more
October 03, 2018:
Amarc Commences Drilling Target One at Joy Copper-Gold Porphyry Project, BCLearn more