Amarc Announces New High Grade “Aurora” Copper-GOLD-Silver Deposit Discovery IN Collaboration with Freeport at the Joy District, British Columbia
AMARC ANNOUNCES NEW HIGH GRADE
“AuRORA” COPPER-GOLD-SILVER DEPOSIT DISCOVERY
IN COLLABORATION WITH FREEPORT AT THE JOY DISTRICT, BRITISH COLUMBIA
January 17, 2025 Amarc Resources Ltd. (“Amarc” or the “Company”) (TSXV: AHR; OTCQB: AXREF) is pleased to
announce discovery of the new, high grade, gold-rich porphyry copper-gold-silver (“Cu-Au-Ag”) AuRORA deposit
at its 100% owned JOY Copper-Gold District (“JOY”), in the prolific Toodoggone-Kemess porphyry Cu-Au region
of north-central British Columbia (“BC”) . The AuRORA Deposit Discovery is located within an area of the 495
km2 JOY District that had not previously been drill tested (see Figures 1, 2 and 3). Freeport-McMoRan Mineral
Properties Canada Inc. (“Freeport”) is fully funding work programs at JOY to earn an interest in the project , and
Amarc is the operator of all programs.
Highlights from Initial AuRORA DEPOSIT Discovery Drill Holes Include:
Drill
Hole
Int.1,2,3
(m)
From
(m) Incl. Au
(g/t)
Cu
(%)
Ag
(g/t)
CuEQ4
(%)
JP24057 82 18 1.24 0.38 2.47 1.08
42 58 Incl. 1.97 0.49 3.58 1.61
JP24059 271 24 0.98 0.25 1.93 0.81
171 24 Incl. 1.32 0.34 2.62 1.09
89 106 and 2.29 0.46 3.65 1.76
JP24071 212 21 1.36 0.40 3.35 1.18
108 104 Incl. 2.38 0.60 5.17 1.96
JP24074 162 69 2.19 0.63 6.95 1.90
147 84 Incl. 2.40 0.69 7.60 2.08
108 111 and 3.09 0.82 8.99 2.59
81 135 and 3.69 0.92 9.72 3.04
Notes: See Table 1.
Hole JP24057, the first hole ever drilled at AuRORA, intersected a new porphyry Cu-Au-Ag system hosting high
and continuous Au grades ( see Tables 1, 2 and 3 ). Following completion of this discovery hole, Amarc , with
Freeport, systematically stepped out, aggressively drilling with three core rigs, with a view to begin outlining an
outstanding Cu-Au-Ag deposit and to confirm its high grade potential. This release details the results of discovery
hole JP24057 and six other holes drilled at approximately 100 m intervals on east-west section 7800N (see Figures
2 and 3). Drilling on this section established a 600 m wide zone of porphyry mineralization encountered from
near surface that is open to lateral expansion, and which is characterized by excellent lateral and vertical
continuity. Final compilations and confirmatory analyses from six additional holes drilled at AuRORA along east-
west section 7900N, a 100 m step out to the north of section 7800N, are near completion and will be released in
the very near future. These additional results show similar very encouraging grades and characteristics to those
reported in this release.
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“This impressive new, high grade porphyry copper-gold-silver discovery is a pivotal moment for Amarc and its
shareholders,” said Dr. Diane Nicolson, Amarc President and CEO. “It represents a significant inflection point
in the exploration of the JOY District with Freeport. Our discovery is the culmination of years of relentless
groundwork by the Amarc team, coupled with the firm, unwavering belief, shared by Freeport, that the JOY
District holds significant potential for high grade porphyry gold-copper deposits. This discovery comes during
a period of positive market sentiment for gold, copper and silver, which we believe further increases the
attractiveness of Amarc as an exciting investment opportunity.”
The AuRORA Deposit Discovery is located within the expansive Northwest Gossan (“NWG”) Target area located
at the northwest end of a possible 15 km mineralized trend that extends southeast toward the GAP and SWT
Targets (see Figure 1). The NWG Target is outlined by a 3.7 km 2 Induced Polarization (“IP”) anomaly (>14mV/V)
(see Figure 3) with coincident Cu, Au, Mo and Ag anomalies outlined in soils and rocks (see Amarc releases May 2
and July 11, 2024). The 2024 initial drill testing of the NWG Target area focused primarily on an internal zone of
higher (>20 mV/V) IP chargeability some 1,500 m long and 500 m wide . Much of the NWG Target area remains
unexplored.
“The AuRORA Deposit Discovery has been made through the Amarc team’s depth of knowledge and porphyry
copper-gold discovery track record in BC and the Toodoggone region, combined with the support and insight
from Freeport, based on its global capabilities as a top-tier copper and gold producer and discoverer. Together,
our goal in 2024 was to focus on discovery and we are clearly on the right track with AuRORA. Notably, the
AuRORA Deposit Discovery area is only one of eight large scale sulphide mineralized systems clustered along
several mineralized trends drilled in 2024 at JOY. These important-scale sulphide systems have been established
by district-wide geological, geochemical and geophysical ground IP surveys. Additional results from the 2024
drill program will be forthcoming. We are extremely optimistic about further important progress at JOY,”
concluded Nicolson.
In addition to today’s announced drill holes, an additional 33 scout holes were also completed on eight porphyry
Cu-Au targets, including at the AuRORA Deposit Discovery, PINE Deposit , Canyon Discovery and at the Twins
Deposit Target within the J OY District (see Figure 1 ). These targets were established through 290 line-km of
property wide IP surveying, the collection and analyses of 8,400 soil and 1, 500 rock samples, and geological
mapping and prospecting.
Figure 1: Large Scale Mineral System Trends Occur at JOY that Hos t the AuRORA Deposit Discovery , PINE
Deposit, Canyon Discovery, Twins and Other Sulphide Systems
Figure 2: AuRORA Deposit Discovery: Located in the New Underexplored NWG Target
Figure 3: AuRORA Deposit Discovery: Hosted Within the Exciting New NWG Target Area
IP-Chargeability Anomaly Never Previously Drilled
Figure 4: AuRORA Deposit Discovery Never Previously Drilled and Open to Expansion
Figure 5: AuRORA Deposit Discovery: Drilling Outlines Open -Ended, Near Surface, Continuous,
High Grade Cu-Au-Ag Mineralization (Section 7800N)
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Figure 6: AuRORA Deposit Discovery Multi -Phase High Grade Mineralization Hosted by
Potassic Alteration from Drill Hole JP24074
Table 1: JOY AuRORA Porphyry Cu-Au-Ag Deposit Discovery Section 7800N Mineralized Intervals of Significance
Drill
Hole
Incl. From
(m)
To
(m)
Int.1,2,3
(m)
Au
(g/t)
Cu
(%)
Ag
(g/t)
CuEQ4
(%)
JP24057 18.00 100.00 82.00 1.24 0.38 2.5 1.08
Incl. 58.00 100.00 42.00 1.97 0.49 3.6 1.61
120.29 190.00 69.71 5 2.56 0.42 5.0 1.88
Incl. 120.29 166.00 45.71 3.30 0.56 6.2 2.44
And 120.29 136.00 15.71 4.54 0.84 8.6 3.42
JP24059 24.00 295.25 271.25 0.98 0.25 1.9 0.81
Incl. 24.00 194.50 170.50 1.32 0.34 2.6 1.09
And 106.00 194.50 88.50 2.29 0.46 3.7 1.76
Incl. 211.00 239.10 28.10 0.99 0.18 1.1 0.73
JP24071 21.10 233.00 211.90 6 1.36 0.40 3.4 1.18
Incl. 104.00 212.00 108.00 2.38 0.60 5.2 1.96
JP24074 69.00 231.00 162.00 2.19 0.63 7.0 1.90
Incl. 84.00 231.00 147.00 2.40 0.69 7.6 2.08
And 111.00 219.00 108.00 3.09 0.82 9.0 2.59
And 135.00 216.00 81.00 3.69 0.92 9.7 3.04
JP24076 57.00 198.00 141.00 7 0.73 0.18 1.3 0.60
Incl. 102.00 198.00 96.00 1.00 0.24 1.8 0.81
And 129.00 180.00 51.00 1.44 0.31 2.2 1.13
JP24079 179.00 189.50 10.50 0.06 0.24 2.7 0.29
341.00 400.70 59.70 0.29 0.08 1.7 0.26
JP24082 131.00 277.95 146.95 0.34 0.22 3.2 0.43
Incl. 161.00 277.95 116.95 0.39 0.25 3.8 0.50
And 212.00 242.00 30.00 0.84 0.54 7.2 1.06
Notes to Table 1:
1. Widths reported are drill widths, such that true thicknesses are unknown.
2. All assay intervals represent length-weighted averages.
3. Some figures may not sum exactly due to rounding.
4. Copper equivalent (CuEQ) calculations use metal process prices of: Cu US$4.00/lb, Au US$1800/oz., and Ag US$24/oz. and conceptual
recoveries of: Cu 85%, Au 72% and 67% Ag. Conversion of metals to an equivalent copper grade based on these metal prices is relative to the
copper price per unit mass factored by conceptual recoveries for those metals normalized to the conceptualized copper recovery. The metal
equivalencies for each metal are added to the copper grade. The general formula for this is: CuEQ% = Cu% + ((Au g/t * (Au recovery / Cu
recovery) * (Au $ per oz./31.1034768 / Cu $ per lb. * 22.04623)) + ((Ag g/t * (Ag recovery / Cu recovery) * (Ag $ per oz./ 31.1034768 / Cu $ per
lb. * 22.04623)).
5. Drill hole JP24057 interval 166-169 m comprised broken ground, no core was recovered, and it was therefore averaged at zero grade.
6. Drill hole JP24071 interval 179-182 m comprised broken ground, no core was recovered, and it was therefore averaged at zero grade.
7. Drill hole JP24076 intervals 72-75 m, 78-81 m and 96-102 m comprised broken ground, no core was recovered, and each was therefore
averaged at zero grade.
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AuRORA Deposit Geological Information – Section 7800N
The geological and hydrothermal characteristics of AuRORA discovery hole JP24057, and other holes a long the
section, are broadly consistent with generalized models for porphyry Cu-Au deposits in the Kemess Mining District
and in the wider Toodoggone Region. East-west cross section 7800 N across the AuRORA Deposit Discovery
highlights the excellent continuity of the near surface, high grade, Cu-Au-Ag mineralization discovered in hole
JP24057, as well as consistent vertical and lateral patterns in the grade, hydrothermal and geological
characteristics in the holes along the section (see Figures 4 and 5 and Table 2).
In the upper part of AuRORA, mineralization is hosted by andesitic tuff and in its lower part by quartz-monzonite
intrusive rocks. The contact between the volcanic and intrusive rocks is typically masked by intense alteration that
coincides with the highest -grade mineralization. High grade mineralization is associated with pervasive quartz -
sericite/chlorite-pyrite alteration, which overprints potassic K-feldspar and magnetite alteration. Copper
mineralization is mainly chalcopyrite and trace to minor bornite (see Figure 6).
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. Each District represents significant
potential for the development of multiple and important -scale, porphyry Cu±Au deposits. Importantly, each of
the three districts are located in proximity to industrial infrastructure – including power , highways and rail.
Amarc’s exploration is led by an internationally successful team of experienced geologists specializing in
porphyry Cu-Au deposits. Members of this team have been involved in and have tracked porphyry Cu-Au
exploration advancements in the Toodoggone region since 1990. Their experience and early recognition of the
porphyry potentia l at the NWG Target in terms of a shallowly overburden covered and underexplored
transitional epithermal-porphyry geological setting, led to the discovery of the Au-rich AuRORA porphyry Cu-
Au-Ag Deposit.
Freeport-McMoRan Mineral Properties Canada Inc. ("Freeport"), a wholly owned subsidiary of Freeport -
McMoRan Inc. at JOY and Boliden Mineral Canada Ltd. ("Boliden"), an entity within the Boliden Group of
companies at DUKE, can earn up to a 70% interest in each District through staged investments of $110 million
and $90 million, respectively. Together this provides Amarc with potentially up to $200 million in non -share
dilutive staged funding for these Districts. In addition, Amarc has completed self-funded drilling at its higher-
grade Empress Deposit in the IKE District. Drill results from nine core holes drilled late in 2024 at Empress are
being compiled and are expected to be released next month. Amarc is the operator of all programs.
Amarc is associated with HDI, a diversified, global mining company with a 35-year history of porphyry Cu deposit
discovery, development and transactio n 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, S isson, Maggie, AuRORA,
5
PINE, IKE 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 engagem ent 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 partn erships
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 program s are carefully planned to achieve high levels of environmental and social
performance.
Qualified Person
Mark Rebagliati, P.Eng, a Qualified Person (“QP”) as defined by National Instrument 43 -101, has re viewed and
approved all technical and scientific information related to the JOY Project contained in this news release. Mr.
Rebagliati is not independent of the Company.
Quality Assurance/Quality Control Program
Amarc drilled NQv (48.1mm) and HQ (63.5mm) size core in 2024 at the JOY project. All drill core was logged,
photographed, and cut in half with a diamond saw. Half core samples from the JOY drilling were sent to ALS Canada
Ltd., Kamloops or Langley, Canada, for preparation and to North Vancouver, Canada for analysis. All facilities are
ISO/IEC 17025:2017 accredited. At the laboratory, samples were dried, crushed to 70% passing -2mm, and either
a 250 g split or 1,000 g split was pulverized to better than 85% passing 75 microns. Samples were analyzed for Au
by fire assay fusion of a 30 g sub-sample with an ICP-AES finish, and for 60 elements including Cu, Mo and Ag by a
four-acid digestion, multi-element ICP-MS package. Samples with Cu results > 10,000 ppm were reanalyzed by a
single element four-acid digestion ICP-AES method for Cu. As part of a comprehensive Quality Assurance/Quality
Control ("QAQC") program, Amarc control samples were inserted in each analytical batch of the core samples at
the following rates: standards one in 20 regular samples, in -line replicates one in 20 regular samples and one
coarse blank per hole. The control sample results were then checked to ensure proper QAQC.
The QP visited the site to verify location of drill holes, and review the core and logging, sampling and sample
shipment processes. He also reviewed and assessed the assay results.
For further details on Amarc Resources Ltd., please visit the Company’s website at www.amarcresources.com or
contact Dr. Diane Nicolson, President and CEO, at (604) 684-6365 or within North America at 1-800-667-2114, or
Kin Communications, at (604) 684-6730, Email: [email protected].
ON BEHALF OF THE BOARD OF DIRECTORS OF AMARC RESOURCES LTD.
Dr. Diane Nicolson
President and CEO
6
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking and other Cautionary Information
This news release includes certain statements that may be deemed "forward -looking statements". All such statements, other than
statements of historical facts that address exploration plans and plans for enhanced relationships are forward-looking statements. Although
the Company believes the expectations expressed in such forward -looking statements are based on reasonable assumptions, such
statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-
looking statements. Assumptions used by the Company to develop forward-looking statements include the following: Amarc's projects will
obtain all required environmental and other permits and all land use and other licenses, studies and explo ration of Amarc's projects will
continue to be positive, and no geological or technical problems will occur. Factors that could cause actual results to differ materially from
those in forward -looking statements include market prices, potential environmenta l issues or liabilities associated with exploration,
development and mining activities, exploitation and exploration successes, continuity of mineralization, uncertainties related to the ability
to obtain necessary permits, licenses and tenure and delays due to third party opposition, changes in and the effect of government policies
regarding mining and natural resource exploration and exploitation, exploration and development of properties located within Aboriginal
groups asserted territories may affect or be perceived to affect asserted aboriginal rights and title, which may cause permitting delays or
opposition by Aboriginal groups, continued availability of capital and financing, and general economic, market or business co nditions.
Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ
materially from those projected in the forward-looking statements. For more information on Amarc Resources Ltd., investors should review
Amarc's annual Form 20-F filing with the United States Securities and Exchange Commission at www.sec.gov and its home jurisdiction filings
that are available at www.sedarplus.ca.
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Table 2: AuRORA Discovery Assay Data by Sample Interval for Drill Holes JP24059 and JP 24074
Hole JP24059
Sample From
(m)
To
(m)
Int.1,2,3
(m)
Au
(g/t)
Cu
(%)
Ag
(g/t)
CuEQ4
(%)
732288 106.00 109.00 3.00 1.38 0.49 2.9 1.28
732289 109.00 112.00 3.00 1.22 0.36 2.2 1.06
732291 112.00 115.00 3.00 1.44 0.52 2.9 1.34
732292 115.00 118.00 3.00 1.37 0.44 2.6 1.22
732293 118.00 121.00 3.00 1.43 0.45 3.5 1.27
732294 121.00 124.00 3.00 2.12 0.59 4.3 1.80
732295 124.00 127.00 3.00 3.04 0.83 6.1 2.56
732296 127.00 129.00 2.00 2.02 0.52 5.4 1.68
732297 129.00 130.90 1.90 1.74 0.73 5.0 1.73
732298 130.90 133.00 2.10 2.37 0.58 4.4 1.92
732299 133.00 136.00 3.00 2.56 0.79 4.8 2.24
732300 136.00 139.00 3.00 1.92 0.51 4.1 1.60
732301 139.00 142.00 3.00 2.77 0.61 4.6 2.18
732302 142.00 145.00 3.00 3.63 0.61 4.6 2.66
732303 145.00 148.00 3.00 3.87 0.62 4.6 2.80
732304 148.00 149.50 1.50 4.65 0.72 6.0 3.35
732305 149.50 151.00 1.50 4.82 0.86 6.6 3.59
732306 151.00 154.00 3.00 2.85 0.72 4.7 2.34
732307 154.00 157.00 3.00 1.01 0.21 1.7 0.78
732308 157.00 160.00 3.00 2.70 0.32 2.7 1.84
732309 160.00 163.00 3.00 2.78 0.31 2.6 1.87
732311 163.00 166.00 3.00 2.15 0.38 3.5 1.60
732312 166.00 169.00 3.00 2.71 0.42 3.6 1.96
732313 169.00 172.00 3.00 2.06 0.37 4.0 1.54
732314 172.00 175.00 3.00 1.93 0.33 4.4 1.43
732315 175.00 178.00 3.00 1.36 0.16 2.8 0.94
732316 178.00 180.30 2.30 2.54 0.27 4.6 1.72
732317 180.30 182.25 1.95 1.54 0.21 2.9 1.09
732318 182.25 184.75 2.50 4.03 0.38 4.2 2.65
732319 184.75 187.00 2.25 0.90 0.19 1.8 0.70
732320 187.00 190.00 3.00 0.90 0.19 1.4 0.70
732321 190.00 192.25 2.25 3.05 0.32 1.9 2.02
732322 192.25 194.50 2.25 2.99 0.31 2.5 1.99
See Table 1 for Notes.
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Hole JP24074
Sample From
(m)
To
(m)
Int.1,2,3
(m)
Au
(g/t)
Cu
(%)
Ag
(g/t)
CuEQ4
(%)
731140 111.00 114.00 3.00 1.00 0.65 8.1 1.26
731141 114.00 117.00 3.00 1.26 0.55 8.0 1.30
731142 117.00 120.00 3.00 0.64 0.27 4.1 0.65
731143 120.00 123.00 3.00 1.48 0.49 8.1 1.36
731144 123.00 126.00 3.00 1.47 0.48 6.6 1.34
731145 126.00 129.00 3.00 1.01 0.40 4.9 1.00
731146 129.00 132.00 3.00 1.59 0.59 6.3 1.51
731147 132.00 135.00 3.00 2.02 0.62 6.6 1.79
731148 135.00 138.00 3.00 1.48 0.53 5.2 1.39
731149 138.00 141.00 3.00 4.01 0.84 10.5 3.14
731151 141.00 144.00 3.00 4.94 1.16 14.2 4.00
731152 144.00 147.00 3.00 4.32 0.99 8.8 3.45
731153 147.00 150.00 3.00 3.02 0.78 6.8 2.50
731154 150.00 153.00 3.00 3.63 1.31 11.3 3.40
731155 153.00 156.00 3.00 5.35 1.18 9.6 4.22
731156 156.00 159.00 3.00 3.33 0.98 8.0 2.89
731157 159.00 162.00 3.00 5.25 1.05 9.8 4.03
731158 162.00 165.00 3.00 3.49 0.90 10.3 2.91
731159 165.00 168.00 3.00 2.47 1.14 13.8 2.60
731160 168.00 171.00 3.00 5.86 1.36 10.3 4.68
731161 171.00 174.00 3.00 4.78 0.88 9.6 3.61
731162 174.00 177.00 3.00 7.73 1.28 11.1 5.65
731163 177.00 180.00 3.00 8.00 1.34 11.2 5.86
731164 180.00 183.00 3.00 6.33 0.93 8.6 4.51
731165 183.00 186.00 3.00 3.52 0.75 7.2 2.75
731166 186.00 189.00 3.00 3.25 0.66 7.5 2.52
731167 189.00 192.00 3.00 2.39 0.69 7.9 2.08
731168 192.00 195.00 3.00 3.84 0.57 4.6 2.74
731169 195.00 198.00 3.00 2.07 0.64 6.4 1.83
731171 198.00 201.00 3.00 1.09 0.97 11.4 1.65
731172 201.00 201.70 0.70 2.05 0.65 8.0 1.84
731173 201.70 202.90 1.20 0.06 0.03 0.6 0.06
731174 202.90 204.00 1.10 2.74 0.75 8.9 2.33
731175 204.00 207.00 3.00 1.62 1.14 12.9 2.12
731176 207.00 210.00 3.00 1.84 0.89 15.1 2.01
731177 210.00 213.00 3.00 2.41 0.90 15.4 2.34
731178 213.00 216.00 3.00 2.06 0.61 10.0 1.82
731179 216.00 219.00 3.00 1.10 0.51 8.3 1.17
731180 219.00 222.00 3.00 0.58 0.32 6.6 0.69
731181 222.00 225.00 3.00 0.78 0.36 6.0 0.84
See Table 1 for Notes.