Amarc Resources Completes Option Agreement With Thompson Creek For Ike Project

Amarc Resources (TSXV:AHR) has finalized its definitive agreement with Thompson Creek Metals (TSX:TCM) to advance its Ike project in British Columbia. Overall, Thompson Creek will have the option to aquire a 50 percent interest in the project.
As quoted in the press release:

Thompson Creek has the option to acquire an initial 30% interest through staged investments totaling $15 million on or before December 31, 2019, of which $3 million was completed in 2015. Subsequently, Thompson Creek can acquire an additional 20% interest, subject to certain conditions, including completing a Feasibility Study within a two-year period that can be extended to three years in certain circumstances.
The IKE copper-molybdenum-silver porphyry discovery, together with the surrounding district of highly prospective porphyry copper (±molybdenum±silver±gold) targets yet to be drill tested, have the potential to possess the grades and resources necessary to develop an important mining camp. The project is located 45 kilometres northwest of Gold Bridge, in south-central BC, near the heartland of BC’s producing porphyry copper mines.

Click here for the full press release.