DUKE Deposit - On-going Delineation Drilling Continues to Expand the Deposit

DUKE Deposit - Significant Volumes of Cu-Mo-Ag-Au Mineralization Being Drill Delineated, Section A-A’ (Looking West)

DUKE Deposit - Remains Open to Expansion, Section B-B’ (Looking West)

Amarc has discovered a significant body of porphyry Cu-Mo-Ag-Au mineralization at the DUKE Deposit, located ~30 km north of the formerly producing Bell and Granisle Mines.  Additionally, only a small portion of a 4.7 km² mineralized system identified by IP chargeability geophysics surveys has been tested.

Highlights from Recent Exploration Work

Sixteen holes were drilled in 2022-2023, expanding the DUKE deposit footprint laterally to over 650 m N-S by 800 m W-E and at least 600 m in depth. 

• Highlights from this drilling reported by Amarc's June 15, 2023 release include:
  • 183 m of 0.43% CuEQ^[1] (0.31% Cu, 0.019% Mo, 0.07 g/t Au,1.5 g/t Ag) in hole DK22009
  • 217 m of 0.45% CuEQ (0.33% Cu, 0.018% Mo, 0.08 g/t Au, 1.5 g/t Ag) in hole DK22010
  • 82 m of 0.41% CuEQ (0.30% Cu, 0.017% Mo, 0.06 g/t Au, 1.1 g/t Ag) in hole DK23022
  • 36 m of 0.47% CuEQ (0.34% Cu, 0.024% Mo, 0.06 g/t Au, 1.5 g/t Ag) in hole DK23024
• Detailed geological interpretation and modelling indicates potential for further expansion of the deposit laterally, with higher grade zones of mineralization present within broader envelopes of comparatively moderate grade
• Eight widely (300-500 m) spaced holes were drilled within the surrounding DUKE mineralized system testing a series of geophysical and geological targets. Notably, drill hole DK23012, located 500 m northwest of the DUKE Deposit, returned a significant 30 m intercept of 0.47% CuEQ (0.36% Cu, 0.015% Mo, 0.06 g/t Au and 3.2 g/t Ag) from 264 m.

In 2024, seven of nine holes drilled at the DUKE Deposit intersected Cu-Mo mineralization (June 25, 2024 release). Highlights include:

• 71 m of 0.45% CuEQ (0.35% Cu, 0.016% Mo, 0.06 g/t Au, 1.6 g/t Ag) and
• 104 m of 0.38% CuEQ (0.29% Cu, 0.016% Mo, 0.06 g/t Au, 1.3 g/t Ag) in hole DK24033
• 110 m of 0.38% CuEQ (0.25% Cu, 0.028% Mo, 0.04 g/t Au, 1.1 g/t Ag) and
• 30 m of 0.39% CuEQ (0.26% Cu, 0.025% Mo, 0.05 g/t Au, 1.4 g/t Ag) in hole DK24034
• 30 m of 0.44% CuEQ (0.35% Cu, 0.013% Mo, 0.05 g/t Au, 1.5 g/t Ag) within
• 203 m of 0.28% CuEQ (0.2% Cu, 0.015% Mo, 0.03 g/t Au, 1.0 g/t Ag) in hole DK24035
• 48 m of 0.34% CuEQ (0.26% Cu, 0.010% Mo, 0.05 g/t Au, 1.8 g/t Ag) in hole DK24036
• 15 m of 0.69% CuEQ (0.52% Cu, 0.024% Mo, 0.11 g/t Au, 1.9 g/t Ag) and
• 29 m of 0.47% CuEQ (0.31% Cu, 0.030% Mo, 0.06 g/t Au, 1.7 g/t Ag) within
• 208 m of 0.26% CuEQ (0.19% Cu, 0.013% Mo, 0.04 g/t Au and 1.0 g/t Ag) in hole DK24037

Additional potential was also identified to the south and north of the Deposit:

• To the south, a new and positive structural element, the South Graben Fault was recognized that, like many other mineralized corridors in the Babine, likely has a spatial relationship to the development of significant Cu-Mo-Ag-Au mineralized zones. It also indicates the possibility to expand the DUKE Deposit over a potential strike length of 700 m

• To the north, a newly recognized volume of mineralized rock west of the DUKE Fault, termed the DUKE Deposit Offset, may be a portion of the DUKE Deposit that was displaced some 450 to 500 m northwards. Initial drilling in this area suggests that this target has a strike length of approximately 500 m, an estimated true width of around 120 m, and remains open
  • This new determination of displacement along the DUKE Fault permits targeting the fault-offset portion of the Cu-Mo-Ag-Au mineralization, such as that intersected in hole DK 17001, the last 93.5 m of which cut 0.31% CuEQ (0.23% Cu, 0.001% Mo, 2.7 g/t Ag, 0.12 g/t Au), including 0.68 g/t Au over 9 m from 509 to 518.5 m at its bottom (June 12, 2028 release)