Company: AXREF
Filing Date: 2025-07-28
Form Type: 20-F
Source: 0001654954-25-008549
Chunk: 16

Company: AMARC RESOURCES LTD
Filing Date: 2025-07-28
Form: 20-F
Item: Item 4
Chunk 16
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 MEX target, a single hole (JP21003) was drilled to test a multi-element geochemical anomaly. No significant Cu or Au concentrations were encountered in that hole.

At Canyon, very limited initial scout drilling of this expansive (5 km2) and largely covered sulphide system by Amarc in 2021 (JP21006: 27 m of 0.18% CuEQ with 0.06% Cu, 0.21 g/t Au) (Amarc March 7, 2022 release). Eight other porphyry Cu-Au deposit targets were explored with 26 scout drill holes in 2022, including four targets that had not previously been drill tested. Of these, the Canyon (5 km2), Twins (7 km2) and SWT (3 km2) Deposit Targets and the PINE (6 km2) Deposit form the 15.5 km northeast trending PINE Trend, and the South Mex (>1.9 km2) deposit target is located at the south end of the 6 km-long MEX Trend (January 23, 2023 news release).

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2See Table 1, Note 4 for
CuEQ calculations.

  Table of Contents  

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Further reconnaissance drilling at Canyon in 2022 discovered a significant new zone of porphyry Cu-Au mineralization with hole JP22030 intersecting:

  96 m of 0.51% CuEQ (0.39% Cu, 0.18 g/t Au and 2.6 g/t Ag), within  
  296 m of 0.39% CuEQ (0.30% Cu, 0.14 g/t Au and 1.7 g/t Ag)         
  10.5 m of 0.77% CuEQ (0.61% Cu, 0.25 g/t Au, 2.1 g/t Ag)           

Four other scout drill holes intersected less robust Cu-Au mineralization disrupted by inter-mineral intrusions. The Canyon Discovery remains open to expansion and requires substantial drilling, as does the host 5 km2IP geophysical anomaly which indicates the presence of a large-scale sulphide system.

The highly prospective Twins (7 km2) deposit target is located adjacent and to the southwest of Canyon. A single scout drill hole completed by Amarc in 2021 (JP21004), the first ever drilled into the large Twins target, intersected 63 m of