Amarc, Freeport are planning for more Joy

Amarc Resources Ltd. May 29 reported that it is working with Freeport McMoRan on plans for a significant drill program that will follow up on the AuRORA porphyry copper-gold discovery, along with several other targets across the Joy project in Northern British Columbia's emerging Toodoggone Mining District. Freeport-McMoRan Mineral Properties Canada Inc., a subsidiary of the copper and gold mining major, has earned a 60% interest in Joy by investing C£35 million (£25.3 million) in exploring the project since entering into an option agreement with Amarc in 2021.

Freeport, which has the option to earn an additional 10% in Joy by investing an additional C£75 million (£51.6 million) over the next five years, will be funding this year's program. Freeport has not officially declared that it will exercise this second option, but considering the results from its accelerated initial earn-in, Amarc anticipates the decision to continue to the next phase will come after mid-year. The mapping, sampling, geophysics, and drilling funded by Freeport so far culminated in the 2024 discovery of AuRORA, a shallow and high-grade porphyry copper-gold target along the eastern border of the Joy property.

Highlights from 2024 drilling at AuRORA include: o 82 meters averaging 1.24 grams per metric ton gold, 0.38% copper, and 2.47 g/t silver from a depth of 18 meters in discovery hole P24057. o 271 meters averaging 0.98 g/t gold, 0.25% copper, 1.93 g/t silver from a depth of 24 meters in hole P24059.

o 130 meters averaging 2.4 g/t gold, 0.61% copper, and 5.33 g/t silver from a depth of 74 meters in hole JP24060. o 212 meters averaging 1.36 g/t gold, 0.4% copper, and 3.35 g/t silver from a depth of 21 meters in hole JP24071. o 162 meters averaging 2.19 g/t gold, 0.63% copper, and 6.95 g/t silver from a depth of 69 meters in hole JP24074.

o 266 meters averaging 1.24 g/t gold, 0.31% copper, and 3.42 g/t silver from a depth of 34 meters in hole JP24075. o 132 meters averaging 1.87 g/t gold, 0.63% copper, and 5.2 g/t silver from a depth of 137 meters in hole JP24080.

Amarc Resources Ltd. The 2024 drilling at AuRORA was completed within the core of the larger four-square-kilometer (1.5 square miles) Northwest Gossan (NWG) target, which coincides with a strong induced polarization (IP) geophysical anomaly.

While Amarc and Freeport have not finalized the plans, it is expected that much of this year's drill program at Joy will focus on resource delineation and testing the larger NWG target. It is expected that the 2025 program will also investigate some of the nine other large sulfide systems Amarc has identified at Joy. Twins, PINE, and Canyon, where previous drilling has confirmed porphyry copper-gold mineralization, are expected to be high on the list for 2025 follow-up.

Amarc will be managing the Freeport-funded 2025 exploration program at Joy.

Author Bio

Shane Lasley, Publisher

Over his more than 16 years of covering mining and mineral exploration, Shane has become renowned for his ability to report on the sector in a way that is technically sound enough to inform industry insiders while being easy to understand by a wider audience.