Amarc Establishes Indigenous Scholarship for Lake Babine Nat Today I am delighted to report that an indigenous scholarship is to be established with annual funding of $20,000 as part of the terms of Amarc’s option of a group of mineral claims within the area of the DUKE property from well-known prospector D Billingsley. The scholarship established under this innovative agreement will be administered in collaboration with the Lake Babine Nation and D Billingsley.
Please don’t hesitate to reach out if you have any questions about the scholarship or the agreement.
Activity has continued since late 2022 in the DUKE District. Compilation of the results from the extensive summer program is underway so stay tuned for further news in the coming weeks
Amarc Establishes Indigenous Scholarship for Lake Babine Nation as Part of DUKE Area Claims Option with Prospector Richard J Billingsley
Vancouver, BC – Amarc Resources Ltd. ("Amarc" or the "Company") (TSXV: AHR; OTCQB:AXREF) announces that it and well-known British Columbia minerals prospector Richard J (D) Billingsley (“Optioner”), have agreed to establish an indigenous scholarship as part of the terms of an option agreement (“the “Agreement”). Under the terms of the Agreement, Amarc may acquire from Mr. Billingsley a 100% interest in a group of mineral claims, covering some 2.34 km², that are located internal to and near to the northern extent of the 678 km² DUKE property.
Amarc CEO, Dr Diane Nicolson said, “We are very pleased with the outcome of our negotiations with D who has generously agreed that Amarc’s funding of the scholarship would satisfy an important part of the consideration to him for the transfer of these mineral claims to the Company. It is planned that Amarc, Mr. Billingsley and representatives from the Lake Babine Nation would participate in a scholarship awards committee. Education and training are a priority for Amarc. We hope that local young people will benefit from this scholarship, acquiring additional knowledge and skills that will lead them to a career in mineral exploration or another rewarding field.”
Lake Babine Nation, Chief Murphy Abraham commented, “Lake Babine Nation invites and supports this scholarship program, and it’s one of many initiatives Diane and her team at Amarc have been working towards when it pertains to reconciliation. This will be a great opportunity for the next generation to further educate themselves in the field of mining exploration and/or other related fields. Much appreciation to Mr. Billingsley and Amarc for providing this opportunity which will help build the capacity Lake Babine needs to be able to sustain itself in the future of this industry."
Amarc is a mineral exploration and development company with an experienced and successful management team focused on developing a new generation of long-life, high-value porphyry Cu-Au mines in BC. By combining high-demand projects with dynamic management, Amarc has created a solid platform to create value from its exploration and development-stage assets.
Amarc is advancing its 100%-owned JOY, DUKE and IKE porphyry Cu±Au districts located in different prolific porphyry regions of northern, central and southern BC, respectively. Freeport at JOY and Boliden Mineral Canada Ltd. at DUKE can earn up to a 70% interest in each District by staged investments of $110 million and $90 million, respectively: together, potentially $200 million in non-share dilutive funding. Each district represents significant potential for the development of multiple and important-scale, porphyry Cu±Au deposits. Importantly, each of the three districts is located in proximity to industrial infrastructure – including power, highways and rail.
Amarc is associated with HDI, a diversified, global mining company with a 35-year history of porphyry discovery and development success. Previous and current HDI projects include some of BC’s and the world’s most important porphyry deposits – such as Pebble, Mount Milligan, Southern Star, Kemess South, Kemess North, Gibraltar, Prosperity, Xietongmen, Newtongmen, Florence, Casino, Sisson, Maggie, IKE, PINE and DUKE. From its head office in Vancouver, Canada, HDI applies its unique strengths and capabilities to acquire, develop, operate and monetize mineral projects.
Amarc works closely with local governments, Indigenous groups and stakeholders in order to advance its mineral projects responsibly, and in a manner that contributes to sustainable community and economic development. We pursue early and meaningful engagement to ensure our mineral exploration and development activities are well coordinated and broadly supported, address local priorities and concerns, and optimize opportunities for collaboration. In particular, we seek to establish mutually beneficial partnerships with Indigenous groups within whose traditional territories our projects are located, through the provision of jobs, training programs, contract opportunities, capacity funding agreements and sponsorship of community events. All Amarc work programs are carefully planned to achieve high levels of environmental and social performance.