Amarc Resources Ltd. is a Vancouver-based mineral exploration and development company focused on making the next major precious and base metal discovery in British Columbia (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's exploration activities are focused on:
- its 100%-owned Silver Vista silver-copper project where exploration indicates the potential for a major bulk tonnage-style silver-copper discovery, and targets have been defined for drill testing;
- the ZNT project, held in Joint Venture with Quartz Mountain Resources Ltd., where strong silver results over extensive areas have been received within a previously unexplored area and targets are ready for drill testing;
- the copper porphyry targets at the Galaxie project, also held in Joint Venture with Quartz Mountain, where a targeted drill program is underway to test newly identified extensions to the Gnat porphyry system;
- the 100%-owned Newton gold discovery where an inferred resource of 1.6 million ounces of gold remains open to expansion; and
- its 100%-owned Galileo property, located adjacent to New Gold's Blackwater gold-silver deposit, where targets are defined for drill testing.
Mining is a multi-billion dollar industry in BC, with $8.6 billion in gross revenues generated from mineral production in 2011. BC is also a hub for mineral exploration worldwide, with 60% of Canadian exploration companies based in the province.
In 2011, some $463 million was invested in exploration activities in BC, a significant proportion of which was spent in the south-central region. Investment in mineral development enjoys broad public support in Williams Lake, Prince George, Dease Lake and surrounding communities.
Provincial support for responsible mineral development is manifest in excellent road and rail infrastructure in south-central BC, the provision of hydroelectric power at preferable industrial rates and a 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 affected by mountain pine beetle infestation in south-central BC.
