Amarc Builds on AuRORA Cu-Au-Ag Discovery with Option to Acquire 100% Interest in Adjacent Brenda Property
Amarc Resources (AXREF) has signed a mineral property option agreement with Canasil Resources to acquire 100% interest in 22 mineral claims adjacent to its JOY tenure and east of its AuRORA copper-gold-silver discovery. The 5-year option requires annual payments of $400,000, with purchase prices ranging from $8 million in year one to $12 million in year five.
The claims are subject to a 2% net smelter returns royalty, with an option to acquire half for $5 million before commercial mining operations or $10 million after. The property falls within the Amarc-Freeport-McMoran agreement area and will be offered as part of the JOY District.
The 44.5 km² Brenda Property is surrounded by Amarc's JOY mineral tenures and shares the same geological setting as AuRORA. Historical exploration revealed promising results, including an intersection of 78m grading 0.61 g/t Au and 0.10% Cu from 110m in hole BR-07-05.
Amarc Resources (AXREF) ha firmato un accordo per un'opzione su una proprietà mineraria con Canasil Resources per acquisire il 100% di interesse su 22 concessioni minerarie adiacenti al suo titolo JOY e a est della sua scoperta di rame-oro-argento AuRORA. L'opzione di 5 anni prevede pagamenti annuali di $400.000, con prezzi d'acquisto che vanno da $8 milioni nel primo anno a $12 milioni nel quinto anno.
Le concessioni sono soggette a una royalty del 2% sui ricavi netti di fusione, con un'opzione per acquisire metà per $5 milioni prima dell'inizio delle operazioni di estrazione commerciale o $10 milioni dopo. La proprietà rientra nell'area dell'accordo Amarc-Freeport-McMoran e sarà offerta come parte del Distretto JOY.
La proprietà Brenda di 44,5 km² è circondata dai titoli minerari JOY di Amarc e condivide lo stesso contesto geologico di AuRORA. Esplorazioni storiche hanno rivelato risultati promettenti, inclusa un'intersezione di 78m con un grado di 0,61 g/t Au e 0,10% Cu a partire da 110m nel foro BR-07-05.
Amarc Resources (AXREF) ha firmado un acuerdo de opción de propiedad minera con Canasil Resources para adquirir un 100% de interés en 22 reclamaciones mineras adyacentes a su título JOY y al este de su descubrimiento de cobre-oro-plata AuRORA. La opción de 5 años requiere pagos anuales de $400,000, con precios de compra que oscilan entre $8 millones en el primer año y $12 millones en el quinto año.
Las reclamaciones están sujetas a una regalía del 2% sobre los ingresos netos de fundición, con una opción para adquirir la mitad por $5 millones antes de las operaciones mineras comerciales o $10 millones después. La propiedad se encuentra dentro del área del acuerdo Amarc-Freeport-McMoran y se ofrecerá como parte del Distrito JOY.
La propiedad Brenda de 44,5 km² está rodeada por los títulos mineros JOY de Amarc y comparte el mismo contexto geológico que AuRORA. La exploración histórica reveló resultados prometedores, incluyendo una intersección de 78m con una ley de 0,61 g/t Au y 0,10% Cu a partir de 110m en el pozo BR-07-05.
Amarc Resources (AXREF)는 Canasil Resources와 광물 재산 옵션 계약을 체결하여 JOY 소유지 인근의 22개의 광물 청구에 대한 100%의 이익을 인수하게 되었습니다. 이 5년 옵션 계약은 매년 $400,000의 지불을 요구하며, 구매 가격은 첫 해에 $8백만에서 다섯 해에는 $12백만으로 설정되어 있습니다.
청구는 2%의 순 제련 수익 로열티에 따라 적용되며, 상업적인 채굴 작업이 시작되기 전에는 $5백만, 이후에는 $10백만에 절반을 인수할 수 있는 옵션이 있습니다. 이 재산은 Amarc-Freeport-McMoran 계약 지역 내에 위치하며 JOY 지구의 일부로 제공될 것입니다.
44.5 km² 규모의 브렌다 재산은 Amarc의 JOY 광물 소유지에 둘러싸여 있으며 AuRORA와 동일한 지질적 설정을 공유합니다. 역사적인 탐사는 110m에서 0.61 g/t Au 및 0.10% Cu의 성적을 나타내는 78m 교차점을 포함한 유망한 결과를 보여주었습니다. BR-07-05 구멍에서.
Amarc Resources (AXREF) a signé un accord d'option minière avec Canasil Resources pour acquérir 100 % d'intérêt sur 22 revendications minières adjacentes à son titre JOY et à l'est de sa découverte de cuivre-or-argent AuRORA. L'option de 5 ans exige des paiements annuels de 400 000 $, avec des prix d'achat variant de 8 millions $ la première année à 12 millions $ la cinquième année.
Les revendications sont soumises à une redevance de 2 % sur les recettes nettes de fonderie, avec une option pour acquérir la moitié pour 5 millions $ avant le début des opérations minières commerciales ou 10 millions $ après. La propriété fait partie de l'accord Amarc-Freeport-McMoran et sera offerte dans le cadre du District JOY.
La propriété de Brenda de 44,5 km² est entourée par les titres miniers JOY d'Amarc et partage le même contexte géologique que AuRORA. Des explorations historiques ont révélé des résultats prometteurs, y compris une intersection de 78 m avec une teneur de 0,61 g/t Au et 0,10 % Cu à partir de 110 m dans le trou BR-07-05.
Amarc Resources (AXREF) hat eine Mineralienbesitz-Optionsvereinbarung mit Canasil Resources unterzeichnet, um 100% Interesse an 22 Mineralansprüchen zu erwerben, die angrenzend zu seinem JOY-Gebiet und östlich seiner AuRORA Kupfer-Gold-Silber-Entdeckung liegen. Die 5-jährige Option erfordert jährliche Zahlungen von 400.000 $, wobei die Kaufpreise von 8 Millionen $ im ersten Jahr bis 12 Millionen $ im fünften Jahr reichen.
Die Ansprüche unterliegen einer 2%igen Net Smelter Returns Royalty, mit der Option, die Hälfte vor Beginn der kommerziellen Abbauarbeiten für 5 Millionen $ oder danach für 10 Millionen $ zu erwerben. Das Grundstück liegt im Bereich der Amarc-Freeport-McMoran-Vereinbarung und wird als Teil des JOY-Distrikts angeboten.
Das 44,5 km² große Brenda-Grundstück wird von den JOY-Mineralbesitzungen von Amarc umgeben und teilt denselben geologischen Kontext wie AuRORA. Historische Erkundungen zeigten vielversprechende Ergebnisse, darunter eine Durchbohrung von 78 m mit einem Gehalt von 0,61 g/t Au und 0,10% Cu aus 110m in Bohrung BR-07-05.
- Strategic acquisition expanding AuRORA discovery area
- Historical drilling shows promising mineralization (78m @ 0.61 g/t Au, 0.10% Cu)
- Property falls within existing Freeport-McMoran agreement area
- Freeport is fully funding work programs at JOY
- Significant capital requirements ($400,000 annual payments + $8-12M purchase price)
- Additional $5-10M required to reduce royalty burden
VANCOUVER, BC / ACCESS Newswire / February 11, 2025 / Amarc Resources Ltd. (TSXV:AHR)(OTCQB:AXREF) (Amarc or the "Company"), is pleased to announce it has signed a mineral property option agreement with Canasil Resources Inc. ("Canasil") pursuant to which Amarc can acquire
The terms of the 5-year option to acquire
AuRORA Discovery
In January 2025, Amarc announced drill results from its new, high grade, gold-rich porphyry Cu-Au-Ag AuRORA discovery at the Company's
Brenda Property
The adjoining 44.5 km2 Brenda Property optioned from Canasil is surrounded on three sides by Amarc's JOY mineral tenures (Figure 1). The Brenda Property is underlain by the same highly prospective volcanics and transitional porphyry Cu-Au and epithermal Au-Ag geological setting as at Amarc's recent AuRORA and Canyon porphyry Cu-Au discoveries. Historical exploration of the Brenda Property has identified both epithermal and porphyry related rock alteration assemblages hosting Cu, Au and Ag mineralization, and includes an intersection of 78 m grading 0.61 g/t Au and
The Company also announces that it has granted 290,000 incentive stock options at a price of
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
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
Amarc is associated with HDI, a diversified, global mining company with a 35-year history of porphyry Cu deposit 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, DUKE and AuRORA. 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.
Mark Rebagliati, P.Eng., a Qualified Person as defined under National Instrument 43-101, has reviewed and approved the technical content in this release.
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: AHR@kincommunications.com.
ON BEHALF OF THE BOARD OF DIRECTORS OF AMARC RESOURCES LTD.
Dr. Diane Nicolson
President and CEO
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 exploration 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 environmental 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 conditions. 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.
SOURCE: Amarc Resources Ltd.
View the original press release on ACCESS Newswire
FAQ
What are the terms of Amarc's (AXREF) Brenda Property acquisition option?
What historical drilling results were found at the Brenda Property near AXREF's AuRORA discovery?
How large is the Brenda Property that AXREF is acquiring?
What is the royalty structure for AXREF's Brenda Property option?
