Amarc is a British Columbia-based mineral exploration and development company with an experienced and successful management team that is focused on advancing the IKE Project, an exciting new porphyry copper discovery in BC. The company is publicly traded in Canada on the TSX Venture Exchange (AHR) and in the United States on the Over the Counter Bulletin Board (AXREF).
Amarc has made a significant copper-molybdenum-silver discovery at its IKE project located in the heartland of the province's copper mining industry. The nine discovery drill holes intersected chalcopyrite and molybdenite mineralization from surface and over a broad area, measuring 1,200 metres east-west by 600 metres north-south and to a depth of approximately 500 metres. Mineralization at IKE remains open in all lateral directions and to depth. The discovery holes and post-drilling geological, geochemical and geophysical surveys completed outwards from the drilled area indicate that the IKE porphyry system has the potential for important-scale resource volumes. Amarc has secured additional mineral claims in the IKE area to cover other compelling deposit targets and potential infrastructure sites.
A comprehensive corporate and technical business plan is being implemented to efficiently move IKE forward as Amarc moves from the exploration phase through the discovery phase, creating the opportunity for maximum value creation for shareholders.
Given its rich resource base, pool of highly skilled workers, stable government and access to Asian markets, BC is one of the world's most attractive exploration and mining regions. The mining and exploration industry is a significant contributor, both directly and indirectly, to the overall economic growth of the province.
Mining is a multi-billion dollar industry in BC: $8.5 billion in gross revenues were generated from mineral production in 2013. BC is also the global hub for mineral exploration, with approximately 60% of Canadian exploration companies based in the province as well as the world's largest concentration of geoscience professionals. In 2013, some $476 million was invested in exploration activities in BC.
The mining sector is largest private sector employer of Aboriginals in BC, and numerous Aboriginal owned suppliers and contractors work collaboratively with, and benefit from, the mining industry. Moreover, BC is the first province in Canada to share direct government revenue generated from mining with Aboriginal groups.
Provincial support for responsible mineral development is manifest in the excellent road and rail infrastructure in south-central BC, the provision of hydroelectric power at preferable industrial rates and the favourable tax regime. In 1998, the Province introduced the Mineral Exploration Tax Credit (METC) program, under which Amarc may recoup up to 30% of its exploration expenditures in areas in south-central BC affected by mountain pine beetle infestation. In addition, in January 2014 the government extended the BC mining flow-through share tax credit program for the year to support mining exploration investment.