Amarc Resources Ltd 6-K, filed May 12, 2021
Amarc Resources Ltd (AXREF)
6-K
2021-05-12
For: 2021-05-12
View Original
Added on
April 07, 2026
About this 6-K
Amarc Resources Ltd filed this 6-K on May 12, 2021.
UNITED
STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR
15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
As at
May 12,
2021
Commission
File Number: 000-49869
AMARC RESOURCES LTD.
(Translation
of registrant's name into English)
15th Floor
– 1040 W. Georgia Street
Vancouver, British Columbia
Canada V6E 4H1
(Address
of principal executive offices)
Indicate
by check mark whether the registrant files or will file annual
reports under cover Form 20-F or Form 40-F.
[X]
Form 20-F [ ] Form 40-F
Indicate
by check mark if the registrant is submitting the Form 6-K in paper
as permitted by Regulation S-T Rule 101(b)(1):
[ ]
Indicate
by check mark if the registrant is submitting the Form 6-K in paper
as permitted by Regulation S-T Rule 101(b)(7):
[ ]
SUBMITTED HEREWITH
Exhibits
|
Press Release dated May 12, 2021 | AMARC FORMS
ALLIANCE WITH FREEPORT-McMoRan MINERAL PROPERTIES CANADA INC. TO
ADVANCE ITS JOY COPPER-GOLD PORPHYRY DISTRICT, BRITISH
COLUMBIA
|
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf
by the undersigned, thereunto duly authorized.
|
|
Amarc
Resources Ltd.
(Registrant)
|
|
|
|
|
|
|
|
|
Date: May 12,
2021
|
By:
|
/s/ Trevor
Thomas
|
|
|
|
|
Trevor
Thomas
|
|
|
|
|
Secretary
|
|
Exhibit 99.1
AMARC FORMS ALLIANCE WITH FREEPORT-McMoRan MINERAL PROPERTIES
CANADA INC.
TO ADVANCE ITS JOY COPPER-GOLD PORPHYRY DISTRICT, BRITISH
COLUMBIA
May 12, 2021, Vancouver, BC – Amarc Resources Ltd.
(“Amarc” or the “Company”) (TSX-V: AHR;
OTCBB: AXREF) is pleased to announce it has entered into a Mineral
Property Earn-In Agreement (the “EIA”) with
Freeport-McMoRan Mineral Properties Canada Inc.
(“Freeport”), a wholly owned subsidiary of
Freeport-McMoRan Inc. (NYSE:FCX). Under the terms of the EIA, Freeport
may acquire up to a 70% ownership interest by making staged
investments in Amarc’s JOY porphyry Cu-Au district (the
“JOY District” or “JOY”) in British
Columbia (“BC”).
The 482
km2 JOY
District covers the northern extension of the prolific Kemess
porphyry Cu-Au district in the underexplored Toodoggone region of
north-central BC. A geological region with
high potential for important porphyry and epithermal deposits, the
Toodoggone is part of BC’s Golden Horseshoe, which includes
the Golden Triangle to the W and NW.
JOY is host to the open-ended PINE Cu-Au deposit, the promising MEX
Cu-Au target and a pipeline of other large and high potential,
drill-ready Cu-Au porphyry targets, which cluster on the
property.
“We
are delighted to welcome Freeport, a foremost global copper
developer and miner, to JOY as a key funder and strategic partner
in Amarc’s campaign to realize the considerable copper-gold
district potential of this very prospective property,” said
Amarc President & CEO, Dr. Diane Nicolson.
“The
strength of the alliance, in my view, lies in the Amarc
team’s depth of knowledge and porphyry copper-gold discovery
track record in BC and the Toodoggone region, combined with
Freeport’s global capabilities as a top-tier copper
producer,” said Nicolson. “Our teams share not just a
common vision for the exceptional discovery potential of the JOY
District, but a passion for the responsible development of copper
assets in North America to help fuel our
society’s transition to renewable energy, electrification and
a low-carbon future.”
Permits for drilling and ground geophysical surveys are in place at
JOY. Nicolson reports that the team is currently finalizing plans
for a comprehensive 2021 exploration program that will advance
deposit delineation and understanding of known areas of extensive
mineralization, and assess several other important-scale
targets.
JOY District Agreement with Freeport
Under
the terms of the EIA, Freeport has a two-stage option to earn up to
a 70% ownership interest in the mineral claims comprising the JOY
District, plus other rights and interests, over up to a 10 year
period.
To earn
an initial 60% interest, Freeport is required to fund CDN $35
million of work expenditures over a 5-year term. During the first
year of the earn-in, a $4 million work program is planned in the
JOY District.
These
optional earn-in expenditures can be accelerated by Freeport at its
discretion. Amarc will be operator during the initial earn-in
period. Once Freeport has acquired such 60% interest, Amarc and
Freeport will proceed to operate the JOY District through a jointly
owned corporation with Freeport assuming project
operatorship.
Upon
Freeport earning such 60% interest, it can elect, in its sole
discretion, to earn an additional 10% in the mineral claims
comprising the JOY District, plus other rights and interests (for a
total 70% interest) by sole funding a further CDN $75 million
within the following five years.
Once
Freeport has finalized its earned ownership interest at either the
60% or 70% level, each party will be responsible for funding its
own pro-rata share of project costs on a 60:40 or 70:30
basis.
JOY District Highlights
The
JOY District is located on the northern extension of the prolific
Kemess porphyry Cu-Au district, which includes the former Kemess
South mine, the permitted and development-stage Kemess North
underground deposit, and the advanced-stage Kemess East underground
deposit – all currently held by Centerra Gold Inc.
(“Centerra”). Through its association with HDI,
Amarc’s technical team was first to recognize the Kemess
District’s true porphyry potential, acquiring both Kemess
North and Kemess South as early-stage prospects and advancing both
to significant porphyry Cu-Au deposits. Kemess South was sold on
beneficial terms to a predecessor of Northgate Minerals, which
brought the deposit into production.
JOY is
accessed via resource roads servicing the southern end of the
Toodoggone region, including Centerra’s Kemess porphyry Cu-Au
deposits and the historic Lawyers, Baker and Shasta epithermal
precious metal mines.
Amarc’s
100%-owned consolidated mineral tenure at JOY hosts a pipeline of
high quality targets, including: the PINE Cu-Au deposit, which
remains open to expansion; the MEX Cu-Au deposit target; and, a
number of other high potential drill-ready Cu-Au porphyry targets.
In addition, Au-Ag epithermal deposit potential remains to be fully
explored at JOY.
Further in-depth information on historical and contemporary
exploration activities completed within the JOY District, detailing
its significant potential, can be found in the Company’s
‘JOY Project 2020 Technical Report’ filed under Amarc's
profile at
www.sedar.com or located on
our website at https://amarcresources.com/projects/joy-project/technical-report/.
About Amarc Resources Ltd.
Amarc
is a mineral exploration and development company with an
experienced and successful management team focused on developing a
new generation of long-life, high-value porphyry copper-gold mines
in BC. By combining high-demand projects with dynamic management,
Amarc has created a solid platform to create value from its
exploration and development-stage assets.
Amarc
is advancing the 100%-owned IKE, DUKE and JOY porphyry
copper±gold districts located in different prolific porphyry
districts in southern, central and northern BC, respectively. Each
of the three districts is located in proximity to industrial
infrastructure – including power, highways and rail.
Importantly, each district represents significant potential for the
development of multiple and important-scale, porphyry
copper±gold deposits.
Amarc
is associated with HDI, a diversified, global mining company with a
30-year history of porphyry discovery and development success.
Previous and current HDI projects include some of BC’s and
the world’s most important porphyry deposits – such as
Pebble, Mount Milligan, Southern Star, Kemess South, Kemess North,
Gibraltar, Prosperity, Xietongmen, Newtongmen, Florence, Casino,
Sisson, Maggie, IKE and Pine. From its head office in Vancouver,
Canada, HDI applies its unique strengths and capabilities to
acquire, develop, operate and monetize mineral
projects.
Amarc
works closely with local governments, Indigenous groups and other
stakeholders in order to advance its mineral projects responsibly,
and in a manner that contributes to sustainable community and
economic development. We pursue early and meaningful engagement to
ensure our mineral exploration and development activities are well
coordinated and broadly supported, address local priorities and
concerns, and optimize opportunities for collaboration. In
particular, we seek to establish mutually beneficial partnerships
with Indigenous groups within whose traditional territories our
projects are located, through the provision of jobs, training
programs, contract opportunities, capacity funding agreements and
sponsorship of community events. All Amarc work programs are
carefully planned to achieve high levels of environmental and
social performance.
Qualified Person as Defined Under National Instrument
43-101
Mark Rebagliati, P. Eng., a Qualified Person as defined under
National Instrument 43-101, has reviewed and approved the technical
content in this release.
For
further details on Amarc Resources Ltd., please visit the
Company’s website at www.amarcresources.com or
contact Dr. Diane Nicolson, President and CEO, at (604) 684-6365 or
within North America at 1-800-667-2114.
ON
BEHALF OF THE BOARD OF DIRECTORS OF AMARC RESOURCES
LTD.
Dr.
Diane Nicolson
President
and CEO
Neither
the TSX Venture Exchange nor any other regulatory authority accepts
responsibility for the adequacy or accuracy of this
release.
Forward Looking and other Cautionary Information
This
news release includes certain statements that may be deemed
"forward-looking statements". All such statements, other than
statements of historical facts that address exploration drilling,
exploitation activities and other related events or developments
are forward-looking statements. Although the Company believes the
expectations expressed in such forward-looking statements are based
on reasonable assumptions, such statements are not guarantees of
future performance and actual results or developments may differ
materially from those in the forward-looking statements.
Assumptions used by the Company to develop forward-looking
statements include the following: Amarc's projects will obtain all
required environmental and other permits and all land use and other
licenses, studies and exploration of Amarc's projects will continue
to be positive, and no geological or technical problems will occur.
Factors that could cause actual results to differ materially from
those in forward-looking statements include market prices,
potential environmental issues or liabilities associated with
exploration, development and mining activities, exploitation and
exploration successes, continuity of mineralization, uncertainties
related to the ability to obtain necessary permits, licenses and
tenure and delays due to third party opposition, changes in and the
effect of government policies regarding mining and natural resource
exploration and exploitation, exploration and development of
properties located within Aboriginal groups asserted territories
may affect or be perceived to affect asserted aboriginal rights and
title, which may cause permitting delays or opposition by
Aboriginal groups, continued availability of capital and financing,
and general economic, market or business conditions, as well as
risks relating to the uncertainties with respect to the effects of
COVID-19. Investors are cautioned that any such statements are not
guarantees of future performance and actual results or developments
may differ materially from those projected in the forward-looking
statements. For more information on Amarc Resources Ltd., investors
should review Amarc's annual Form 20-F filing with the United
States Securities and Exchange Commission at www.sec.gov and its
home jurisdiction filings that are available at
www.sedar.com.