Amarc Resources (TSXV: AHR) has announced new assay results from the ongoing 2022-2023 drilling program at the DUKE deposit in the 100%-owned DUKE porphyry Cu-Au district in British Columbia. The results from the first drill hole are part of the first phase program funded under the Mineral Property Earn-in Agreement with Boliden Mineral Canada. 

The results are for Hole DK22009 and are the first results from one of two holes completed in December 2022. Drilling was done in the central area of the DUKE deposit to test the geometry and depth potential of the mineralization there. The hole was drilled in the vicinity of previous Amarc drill holes (including DK17001 and DK17002, listed as “1” and “2” on Figures 1 and 2; see also December 19, 2017 and June 12, 2018 news releases). The hole intercepted significant Cu-Mo-Au-Ag mineralization from the bedrock surface to the bottom of hole, including several sub-intervals of a higher grade. The results are of good tenor and continuity and indicate that the DUKE Deposit extends to a significantly greater depth than previously known (seen in Figure 1).

Amarc President and CEO Diane Nicolson commented in a press release: “With the release of these initial encouraging results, we are pleased with the excellent progress has already been made in our first work program with partner Boliden. Our teams are excited about DUKE’s tremendous potential, and are looking forward to further expanding and delineating the mineralization at DUKE while also testing the multiple other targets within the DUKE District.”

Highlights from the results are as follows:

• 542 m of 0.33% CuEQ* (0.24% Cu, 0.016% Mo, 0.04 g/t Au and 1.2 g/t Ag) from 9.4 m
• Including 183 m of 0.43% CuEQ (0.31% Cu, 0.019% Mo, 0.07 g/t Au and 1.5 g/t Ag) from 65 m
• Including 126 m of 0.52% CuEQ (0.38% Cu, 0.024% Mo, 0.08 g/t Au and 1.8 g/t Ag) from 122 m

* Copper Equivalent (CuEQ) and other details are provided below with Table 1

Table 1: Drill Hole DK22009 Assay Results

1. DK22009 is collared at UTM NAD83, Zone 9, Easting 679708, Northing 6125648.
2. Widths reported are drill widths, such that true thicknesses are unknown.
3. All assay intervals represent length-weighted averages.
4. Some figures may not sum exactly due to rounding.
5. Copper equivalent (CuEQ) calculations use metal prices of: Cu US$4.00/lb, Mo US$15.00/lb, Au US$1,800.00/oz, Ag US$24.00/oz and and conceptual recoveries of: Cu 85%, Mo 82%, 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)+ (Mo% * (Mo recovery / Cu recovery) * (Mo $ per lb / Cu $ per lb)).

The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a licensed professional for investment advice. The author is not an insider or shareholder of any of the companies mentioned above.