High-Grade Copper-Gold Discovery Keeps Growing in British Columbia

2025-12-10 12:09:00 ET

The global hunt for Tier One copper-gold assets has intensified as electrification demands collide with decades of underinvestment in new mine development. Discoveries that combine high grades, exceptional continuity, and near-surface mineralization are increasingly rare—making British Columbia's prolific porphyry belts a focal point for major mining companies seeking the next generation of long-life, high-value deposits.

Shares of Amarc Resources Ltd. ( TSX-V: AHR ) ( OTCQB: AXREF ) are climbing Wednesday after the company announced additional drill results continuing to expand the high-grade AuRORA copper-gold-silver deposit in northern BC's Toodoggone region. The results demonstrate the deposit remains open for further expansion to the north, east, and west, with assays from four additional step-out holes still pending.

The latest batch includes compelling intercepts from expansion drilling on Sections 7900N and 8200N. Highlights include 201 meters grading 1.40 g/t gold, 0.28% copper and 2.6 g/t silver (including 94 meters of 2.08 g/t Au, 0.41% Cu and 3.4 g/t Ag), and 201 meters of 1.38 g/t Au, 0.27% Cu and 1.6 g/t Ag (including 111 meters at 2.24 g/t Au, 0.34% Cu and 1.6 g/t Ag). Another hole returned 47 meters grading 1.50 g/t Au, 0.44% Cu and 5.4 g/t Ag.

Two holes on Section 8200N successfully expanded AuRORA 100 meters to the north, while two holes on Section 7900N extended the deposit approximately 200 meters to the east. Additional results from Section 7600N expanded the deposit roughly 300 meters to the southeast. The 2025 drill program completed 24 core holes totaling 9,687 meters, with 23 representing expansion step-outs drilled over a 1-kilometer by 1-kilometer area.

CEO Dr. Diane Nicolson emphasized the importance of the latest data, saying, "We are very excited by the significant expansion potential of the AuRORA Deposit which stands out as it includes some of the highest porphyry grades ever intercepted in the Province. We believe that the AuRORA discovery has the potential to unlock the emergence of a world class porphyry copper-gold district in the Toodoggone region."

The AuRORA discovery is being advanced under a joint venture with Freeport-McMoRan, which completed Stage 1 requirements by spending CAD$35 million to earn 60% interest and has elected to proceed to Stage 2, committing an additional CAD$75 million over five years at no less than CAD$10 million annually. The CAD$16+ million 2025 exploration program was 100% funded by Freeport.

Amarc's broader JOY District encompasses 630 square kilometers with multiple targets including the recent TWINS and Canyon discoveries, plus the historical PINE and Brenda deposits. The company also holds the DUKE District (with Boliden earning in) and the IKE District, providing potential access to up to CAD $200 million in non-dilutive staged funding across its portfolio.

Shares of AHR are up 6.9% to C$1.20 in Wednesday morning trading, while U.S.-listed shares of AXREF are ahead 5.6% at $0.869.

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