New Drilling Commences Across 808 km² DUKE Copper-Gold Project Exploration Area in Canada

en.Wedoany.com Reported - On November 11, Canadian mineral exploration company Amarc Resources and Boliden Mineral Canada Ltd., a subsidiary of Sweden's Boliden Group, launched a new round of drilling at the DUKE copper-gold project in central British Columbia, targeting multiple porphyry copper-gold deposit-scale targets identified through 2026 geophysical, geochemical and geological surveys. The expanded exploration program is fully funded by Boliden, with Amarc continuing as project operator. The DUKE project covers approximately 808 km² in the Babine region, about 80 km northeast of Smithers.

The current drilling builds on regional surveys completed in the first half of 2026. The project team previously conducted 45 line-km of induced polarization (IP) ground geophysics, 19 line-km of audio-frequency magnetotelluric (AMT) surveying, collected 235 grid soil geochemical samples, and carried out biogeochemical and gaseous elemental mercury geochemical surveys. In addition, the project used LiDAR to complete surface geological mapping of approximately 400 km², correcting for the influence of surface cover on soil sampling results and refining understanding of regional geological structures.

Drill targets are distributed primarily along the southeast-trending NAK-DUKE magnetic anomaly corridor. Earlier surveys identified regularly spaced magnetic anomaly clusters within this corridor, with approximately 6 km separating adjacent clusters. The company links these anomalies to regional fault structures and porphyry mineralizing systems, interpreting fault intersections as potential conduits for ore-bearing hydrothermal fluids. The current drilling will test targets selected through integrated geophysical, geochemical and geological surveys to determine whether they possess the geological conditions to host standalone copper-gold deposits.

The existing DUKE copper-molybdenum-gold-silver deposit is an important foundation for the current regional exploration. Previous systematic drilling has expanded the deposit to approximately 900 m × 600 m, with mineralization remaining open to the periphery. The deposit is located within the NAK-DUKE magnetic anomaly corridor, approximately 6 km from American Eagle's NAK copper-gold deposit. The two deposits and the regional magnetic anomalies between them form a continuous exploration and study belt, and Amarc has additionally identified C6 and M4 as priority exploration targets southeast of the DUKE project.

Previous drilling has intersected multiple intervals of copper-molybdenum mineralization at the DUKE deposit and its periphery. In 2024, hole DK24033 returned 71 m grading 0.45% copper equivalent, plus a separate interval of 104 m grading 0.38% copper equivalent; DK24037 returned 0.26% copper equivalent over 209 m, including a high-grade interval of 15 m at 0.69%. In 2025, the project completed a further 36 drill holes totaling 9,208 m, including resource delineation drilling at the deposit and its offset zones, as well as preliminary validation drilling in other areas. These results expanded the mineralized footprint and provided the basis for screening new targets this year.

Regarding project partnerships, Boliden signed an earn-in agreement with Amarc in 2022, initially acquiring an option to earn up to a 70% interest by funding exploration and development expenditures. By the end of 2025, Boliden had invested a cumulative CAD 30 million to earn a 60% interest in the DUKE project but did not exercise its option to invest an additional CAD 60 million to increase its interest to 70%. Since April 2026, the parties have operated under a 60/40 joint venture arrangement, with Amarc responsible for project operations. Under the current joint venture mechanism, the parties are in principle responsible for subsequent exploration funding in proportion to their interests, and a party that does not participate in funding may face dilution; the expanded program described in this announcement is separately and fully funded by Boliden.

The DUKE project is located in the Babine region, an important porphyry copper-gold metallogenic belt in British Columbia, Canada. The surrounding area hosts the past-producing Bell and Granisle copper-gold mines, as well as the third-party-held Morrison copper-gold deposit. The region has an established road network serving historical mines, forestry and mineral exploration, and industrial infrastructure including power, roads and rail provides favorable conditions for future project evaluation.