Amarc Resources Ltd.
AHR.V · Mining
<p>Amarc is a publicly traded (TSXV: AHR, OTCQB: AXREF), British Columbia mineral exploration and<br /> development company, led by an experienced and successful management team, focused on developing<br /> a new generation of long-life, high-value porphyry Cu-Au mines in BC. By combining high-demand<br /> projects with dynamic management, Amarc has created a solid platform to create value from its<br /> exploration and development-stage assets. Amarc’s 100%-owned JOY, DUKE and IKE district hosts<br /> Cu±Au deposits prime for moving toward development plus multiple porphyry Cu-Au deposit targets<br /> ready for drill discovery, and each is in proximity to key infrastructure. As such, Amarc’s projects are<br /> positioned to help fill the growing global supply gap in copper.</p> <p><br /> 2022 was a transformative year for Amarc. The company and Freeport-McMoRan Mineral Properties<br /> Canada Inc. (“Freeport”) made considerable progress at the JOY District, completing a second<br /> comprehensive program with a substantial drilling component in 2022. In November Amarc announced<br /> a second non-share dilutive strategic partnership with Boliden Mineral Canada Ltd. (“Boliden”) on the<br /> DUKE District, and initiated drilling at DUKE before year end. Freeport at JOY and Boliden at DUKE can<br /> earn up to a 70% interest in the districts by funding CDN$110 million and CDN$90 million of staged earn-<br /> in expenditures, respectively. At both JOY and DUKE, Amarc is the Operator.</p> <p><br /> Amarc’s JOY District is located on the northern extension of the prolific Kemess camp in the<br /> Toodoggone portion of northern BC’s Golden Horseshoe trend. JOY hosts the PINE Cu-Au deposit and a<br /> pipeline of other high potential porphyry Cu-Au deposit targets. Freeport accelerated its first-year<br /> investment to $5.94 million in 2021. Excellent progress was also made in 2022 with an approximately<br /> $14 million program, including 15,427 m of drilling at PINE and several JOY District deposit targets.<br /> Located in the prolific porphyry Cu-Au Babine Region in central BC, Amarc’s DUKE District hosts the<br /> DUKE Cu-Mo-Ag-Au deposit, which is open to expansion, and a series of compelling porphyry Cu-Au<br /> exploration targets. In November 2022 Amarc commenced drilling with partners Freeport at the DUKE<br /> deposit. In addition, surface programs testing some 12 prioritized deposit targets across the DUKE<br /> District are also planned for 2023.</p> <p><br /> Situated in the heartland of Canada’s copper production, Amarc’s IKE District hosts the major IKE<br /> porphyry Cu-Mo-Ag deposit discovery and the Empress higher grade Cu-Au-Ag deposit both of which are<br /> open to expansion, and a pipeline of Cu-Au±Mo±Ag deposit and exploration targets. Options for the<br /> near-term advancement of the IKE District are being considered.</p>