Amarc And Boliden Commence a $4 Million Exploration Program at the Duke District, BC
Amarc begins $4 million Boliden-funded exploration at the Duke District, maintaining its operator status for the project.
Amarc Resources Ltd. has officially commenced a $4 million exploration program at its DUKE Copper-Gold District in central British Columbia. The initiative is fully funded by joint venture partner Boliden Mineral Canada Ltd., with Amarc retaining operator status. The company has a 180-day window, beginning April 30, 2026, to contribute $2.66 million to maintain its 40% joint venture interest; failure to make this contribution may result in dilution.
Planned activities for the program include 51 line-km of Induced Polarization and 80 line-km of Magnetotellurics, combined with ground geophysical, geochemical, and geological surveys. Drill testing of identified targets is scheduled for later in the 2026 season. The release also provided operational updates on the JOY District, part of the Freeport joint venture, and the 100% owned IKE District.
Amarc Resources Ltd. (AHR) announced a $4 million exploration program, a routine continuation of the Boliden joint venture formalized in April 2026. Boliden’s initial $30 million investment and 60/40 ownership structure were previously disclosed, establishing this latest expenditure as a logical next step in the earn-in agreement.
The announcement aligns with management’s stated exploration roadmap and confirms ongoing joint venture funding and operational momentum. It does not introduce new financial results, resource estimates, or strategic partnerships.
The primary material caveat is the 180-day contribution deadline for Amarc, requiring $2.66 million by August 30, 2026. Meeting this requirement will prevent dilution, while missing it would trigger a structural change in ownership.
Amarc Resources Ltd. is a Canadian exploration and development company focused on copper-gold-silver porphyry systems in British Columbia. Its flagship asset is the JOY District, which features the AuRORA Deposit, a high-grade, near-surface Cu-Au-Ag porphyry discovered in 2024. The deposit has been expanded to approximately 1.4 km by 0.8 km following significant step-out drilling.
The JOY project operates under a joint venture structure where Aurora Minerals Ltd. is 70% owned by Freeport-McMoRan and 30% by Amarc, following Freeport's Stage 2 earn-in. Amarc also holds other assets, including the DUKE District, a 732 km² property operated as a 60/40 joint venture with Boliden, and the IKE District, which is 100% owned and contains the Empress Cu-Au Deposit.
In April 2026, Amarc Resources Ltd. listed on the Frankfurt Stock Exchange under the ticker AQ5 to expand access to European investors.