Amarc Resources drills 0.42% CuEq over 204 metres at JOY District, British Columbia

Amarc Resources Ltd. [AHR-TSXV; AXREF-OTCQB] released the results of 2022 drilling at the Pine deposit and from scout drilling at prioritized porphyry copper-gold deposit targets clustered across its 482 km2, 100%-owned JOY District, north-central British Columbia.

During the 2022 season Amarc completed 37 core holes (15,427 m) that considerably expanded the Pine Deposit to over a 1,700-metre strike length, discovered new porphyry Cu-Au mineralization at the 5 km2 Canyon deposit target, and further defined additional deposit-scale porphyry systems requiring exploration drilling.

Over the past two years, Freeport-McMoRan Mineral Properties Canada Inc., which is earning-in at JOY, has invested approximately $20 million advancing exploration programs. Amarc is operator of the project.

Highlights from 2022 Pine deposit drilling include 204 metres of 0.42% CuEQ (copper equivalent) (0.18% Cu, 0.41 g/t Au and 2.3 g/t Ag); 105 metres of 0.40% CuEQ (0.13% Cu, 0.47 g/t Au and 2.3 g/t Ag); 107 metres of 0.31% CuEQ (0.09% Cu, 0.37 g/t Au and 1.2 g/t Ag); and 179 metres of 0.32% CuEQ (0.11% Cu, 0.36 g/t Au and 1.2 g/t Ag).

Highlights from New Porphyry Cu-Au Discovery at Canyon deposit target include 96 metres of 0.51% CuEQ (0.39% Cu, 0.18 g/t Au and 2.6 g/t Ag), within 296 metres of 0.39% CuEQ (0.30% Cu, 0.14 g/t Au and 1.7 g/t Ag).

“The strong results delivered by our 2022 drilling continue to reveal the exceptional potential of the JOY District,” said Dr. Diane Nicolson, Amarc President and CEO. “Delineation drilling at the Pine Deposit substantially expanded mineralization and it is still wide open. In addition, scout drilling of expansive deposit scale targets is confirming the potential for clustered porphyry mineralized deposits around the Pine: the discovery of new copper-gold mineralization at the largely covered Canyon target is especially exciting. Also, as previously reported surface surveys are preparing new and compelling porphyry copper-gold deposit targets across JOY for drilling.”

Nicolson said that having recently received and verified all drill results, Amarc is currently in the process of fully integrating all drill core assay details with extensive surface surveys, to complete 2023 program planning with Freeport.

Prior to 2022, drilling the Pine deposit was, from Amarc’s and historical drilling, known to extend over approximately 600 metres by 900 metres; importantly, it was also recognized to be open to expansion internally and laterally as well as to depth. In 2022, the 11 core holes (up to 781 m in length) completed at Pine successfully intercepted significant mineralization that extended the footprint of the deposit over a strike length of 1,700 metres.

Furthermore, outboard, wider spaced and mainly historical drilling indicates the potential to expand this footprint to over 2,600 metres. Additionally, drilling is highlighting the favorable geometry of the Pine Deposit, with the majority of known mineralization occurring from surface to 300 metres depth, and locally extending to 550 metres depth. The Pine deposit and its expansion potential are hosted within a larger 6 km2 mineralized system, which also remains to be fully explored.

Notably, additional centers of higher Cu-Au grade are beginning to emerge along the 1,700-metre Pine deposit trend.

Amarc’s JOY District is located on the northern extension of the prolific Kemess porphyry Cu-Au District that includes the former Kemess South mine, the permitted and development-stage Kemess North underground deposit, and the advanced-stage Kemess East underground deposit – all currently held by Centerra Gold Inc.

Through its association with Hunter Dickinson Inc., Amarc’s technical team was first to recognize the Kemess District’s true porphyry potential, acquiring Kemess North and Kemess South as early-stage prospects and advancing both to significant porphyry Cu-Au deposits. Kemess South was sold in 1996 on beneficial terms to a predecessor of Northgate Minerals, which brought that deposit into production.

The JOY District is readily accessed via resource roads servicing the southern end of the Toodoggone region.

In May 2021, Amarc entered into a Mineral Property Earn-In Agreement with Freeport-McMoRan Mineral Properties Canada Inc., a wholly owned subsidiary of Freeport-McMoRan Inc. [FCX-NYSE] Freeport may acquire up to a 70% interest in JOY by making staged investments totalling $110 million.