According to Amarc, the new AuRORA discovery represents a new porphyry copper-gold-silver system hosting high and continuous gold grades. Discovery hole JP24057 returned 1.24 grams per tonne gold and 0.38% copper from 18 metres, including 1.97 g/t gold and 0.49% copper from 58 metres.
Dr. Diane Nicolson, Amarc’s CEO, called the AuRORA discovery “a pivotal moment” for the company and “a significant inflection point” in the exploration of the JOY district with Freeport.
“Our discovery is the culmination of years of relentless groundwork by the Amarc team, coupled with the firm, unwavering belief, shared by Freeport, that the JOY district holds significant potential for high-grade porphyry gold-copper deposits,” she stated in Friday’s news release.
Shares of Amarc Resources soared on the discovery announcement, ending Friday’s trading session at C$0.72 apiece, up 171% on its opening price of C$0.40….
