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    Amarc Resources Soars After Major Copper-Gold-Silver Discovery in BC

    Giann Liguid
    Jan. 21, 2025 09:30AM PST

    Shares of the company were on the rise after it announced the discovery of the AuRORA deposit at its JOY copper-gold district.

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    Explorer Amarc Resources (TSXV:AHR,OTCQB:AXREF) experienced a sharp increase in its share price following the announcement of a new discovery at its JOY copper-gold district in BC, Canada.

    The company closed Friday (January 17) at C$0.72, up just over 165 percent from Thursday's (January 16) close.

    In a press release, Amarc states that it has named the find AuRORA, describing it as a high-grade porphyry copper-gold-silver discovery. AuRORA is located in an area of JOY that hadn't previously been drill tested.


    JP24057, the first hole drilled at the site, intersected this new copper-gold-silver system, and the company then worked with Freeport-McMoRan Mineral Properties Canada, a subsidiary of Freeport-McMoRan (NYSE:FCX), to complete step-out drilling with three core rigs. Friday's release looks at JP24057 and results from six other holes.

    Freeport is fully funding work programs at JOY in order to earn an interest in the project.

    The seven holes were drilled at intervals of about 100 meters, and together have established a 600 meter wide zone of porphyry mineralization. Amarc states that it is near surface and has "excellent" lateral and vertical continuity.

    Amarc Resources' January 17 drill results.

    Amarc Resources' January 17 drill results.

    Table via Amarc Resources.

    Amarc views the AuRORA deposit as a major highlight within the JOY district, which spans 495 square kilometers in the Toodoggone-Kemess region, an area known for significant porphyry deposits.

    "This impressive new, high grade porphyry copper-gold-silver discovery is a pivotal moment for Amarc and its shareholders,” said Amarc President and CEO Dr. Diane Nicolson, adding that it comes after years of groundwork.

    “It represents a significant inflection point in the exploration of the JOY District with Freeport."

    The company followed Friday's release up with additional drill results from AuRORA on Monday (January 20). The data spans six holes located 100 meters north of the first seven holes announced on Friday. They were also drilled at intervals of approximately 100 meters, and trace mineralization across a width of 600 meters.

    "These results are again confirming the continuity of the Au-rich AuRORA porphyry Cu-Au-Ag mineralized system from east to west and vertically, and now also to the north, and from near the surface," the company notes.

    The release prompted another share price boost for Amarc, which rose as high as C$0.88 on Monday.

    In Friday's press release, Nicolson said that eight large-scale sulfide mineralized systems along several mineralized trends were drilled at JOY last year. A total of 33 scout holes were completed.

    Don’t forget to follow us @INN_Resource for real-time news updates!

    Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

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    Giann Liguid

    Giann Liguid

    Writer

    Giann Liguid is a graduate of Ateneo De Manila University with an AB in Interdisciplinary Studies. With a diverse writing background, Giann has written content for the security, food and business industries. He also has expertise in both the public and private sectors, having worked in the government specializing in local government units and administrative dynamics.

    When he is not chasing the next market headline, Giann can most likely be found thrift shopping for his dogs.

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    Giann Liguid
    Giann Liguid

    Writer

    Giann Liguid is a graduate of Ateneo De Manila University with an AB in Interdisciplinary Studies. With a diverse writing background, Giann has written content for the security, food and business industries. He also has expertise in both the public and private sectors, having worked in the government specializing in local government units and administrative dynamics.

    When he is not chasing the next market headline, Giann can most likely be found thrift shopping for his dogs.

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