| Vancouver, BC – Amarc Resources Ltd. (“Amarc” or the “Company”) (TSXV: AHR; OTCQB:AXREF) is pleased to announce it has launched the 2023 field program at its 100%-owned JOY Copper-Gold District (or “JOY”) in north-central British Columbia (“BC”). This extensive airborne and surface exploration program is focused on detailed refinement of multiple porphyry copper-gold (“Cu-Au”) deposit targets clustered along mineralized trends over the 482 km² JOY property, in preparation for an extensive intended drilling program in 2024. The program will also include rehabilitation of road and bridge access to the PINE Cu-Au Deposit in the centre of the JOY tenure and other deposit targets to facilitate the ongoing detailed work and future drilling. The program is fully funded by Freeport-McMoRan Mineral Properties Canada Inc. (“Freeport”), with Amarc continuing as operator. This year’s program will continue to build on the successes of the systematic 2022 program (15,427 m in 37 core holes and extensive surface surveys) that expanded and further defined the potential of deposit-scale porphyry Cu-Au systems (see Amarc releases January 23, 2023 and March 2, 2023), highlights of which include: The emergence of several mineralized trends, similar to the 4 km-long northeast trend of the Nugget, Kemess North, Kemess Underground, Kemess Offset and Kemess East porphyry Cu-Au deposits in the Kemess Mining District held by Centerra Gold Inc., and located adjacent to the south of the JOY tenure; The northeast striking 15.5 km PINE Trend at JOY, which includes the sulphide systems outlined by Induced Polarization (“IP”) surveys at the PINE (6 km²), Canyon (5 km²), Twins (7 km²) and SWT (3 km²) targets and supported by initial drilling results, indicating the potential for clustered porphyry mineralized deposits (see Amarc Corporate presentation here); The considerable strike extension of mineralization encountered from near surface to depth at the PINE Deposit to over 1,700 m, with outboard, more widely-spaced historical drilling indicating the potential to expand the length of the deposit footprint to over 2,600 m; Drill intercepts at the PINE Deposit include, for example (for full 2022 Drilling Results, see Amarc release March 2, 2023): 204 m of 0.42% CuEQ* (0.18% Cu, 0.41 g/t Au and 2.3 g/t Ag) 105 m of 0.40% CuEQ (0.13% Cu, 0.47 g/t Au and 2.3 g/t Ag) * Copper equivalent (CuEQ) calculations here and below use metal prices of: Cu US$4.00/lb, Au US$1,800.00/oz, Ag US$24.00/oz and conceptual recoveries of: Cu 85%, Au 72% and 67% Ag. Limited initial scout drilling discovered substantial new porphyry Cu-Au mineralization at the largely overburden covered Canyon (5 km²) deposit target (also see Amarc release March 2, 2023). Drill hole intercepts include, for example: 96 m of 0.51% CuEQ* (0.39% Cu, 0.18 g/t Au and 2.6 g/t Ag), within 296 m of 0.39% CuEQ (0.30% Cu, 0.14 g/t Au and 1.7 g/t Ag) Widely-spaced initial scout drilling of the Twins (7 km²) sulphide system has encountered widespread porphyry Cu-Au mineralization, highlighting the significant exploration potential at Twins for the discovery of another porphyry Cu-Au deposit; and The initial single scout hole drilled into the South Mex (>1.9 km² and open) deposit target intersected anomalous concentrations of Ag-Au(-Cu) (also see Amarc release March 2, 2023) in a geological environment similar to that hosting the Kemess District porphyry Cu-Au deposits, extending the MEX Trend to a strike length over 6 km. |
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| About Amarc Resources Ltd. Amarc is a mineral exploration and development company with an experienced and successful management team focused on developing a new generation of long-life, high-value porphyry Cu-Au mines in BC. By combining high-demand projects with dynamic management, Amarc has created a solid platform to create value from its exploration and development-stage assets. Amarc is advancing its 100%-owned JOY, DUKE and IKE porphyry Cu±Au districts located in different prolific porphyry regions of northern, central and southern BC, respectively. Freeport at JOY and Boliden Mineral Canada Ltd. at DUKE can earn up to a 70% interest in each District by staged investments of $110 million and $90 million, respectively: together, potentially $200 million in non-share dilutive funding. Each district represents significant potential for the development of multiple and important-scale, porphyry Cu±Au deposits. Importantly, each of the three districts is located in proximity to industrial infrastructure – including power, highways and rail. Amarc is associated with HDI, a diversified, global mining company with a 35-year history of porphyry discovery and development success. Previous and current HDI projects include some of BC’s and the world’s most important porphyry deposits – such as Pebble, Mount Milligan, Southern Star, Kemess South, Kemess North, Gibraltar, Prosperity, Xietongmen, Newtongmen, Florence, Casino, Sisson, Maggie, IKE, PINE and DUKE. From its head office in Vancouver, Canada, HDI applies its unique strengths and capabilities to acquire, develop, operate and monetize mineral projects. Amarc works closely with local governments, Indigenous groups and stakeholders in order to advance its mineral projects responsibly, and in a manner that contributes to sustainable community and economic development. We pursue early and meaningful engagement to ensure our mineral exploration and development activities are well coordinated and broadly supported, address local priorities and concerns, and optimize opportunities for collaboration. In particular, we seek to establish mutually beneficial partnerships with Indigenous groups within whose traditional territories our projects are located, through the provision of jobs, training programs, contract opportunities, capacity funding agreements and sponsorship of community events. All Amarc work programs are carefully planned to achieve high levels of environmental and social performance. |
