Under terms of the two-stage option agreement for 70% in the Duke District, Boliden has committed to funding C$5 million to be spent in 2022 and early 2023, with Amarc acting as the operator.
Notably, the DUKE project can be drilled during the winter and is well suited to Boliden’s status as one of the Nordic region’s key mineral producers, including active mines in five European mining areas.
Amarc has now accumulated two strategic partnerships with major mining companies, including exploring the JOY copper-gold prospect in the ‘Golden Horseshoe’ of B.C. with Freeport-McMoRan (NYSE: FCX) and exploring the DUKE with Boliden.
These partnerships are believed to enhance the opportunity to realize the full potential of the JOY and DUKE projects.
The company is expected to have regular news flow through year-end, with 37 drill holes pending from the JOY campaign.
Plans are currently being finalized for a drill program at the…
