Amarc Resources (TSX-V:AHR) has received a C$5 million ($5.06 million) increase to the 2026 exploration budget for its Joy Copper-Gold District in British Columbia, Canada.
The increase lifts the program’s budget from C$15 million to C$20 million, fully financed by Freeport-McMoRan Mineral Properties Canada through Aurora Minerals (ASX:ARM).
Aurora Minerals is a joint venture company owned 60% by Freeport and 40% by Amarc.
The spending forms part of Freeport’s C$75 million Stage 2 earn-in to acquire a further 10% interest in the Joy district, which would increase its total interest to 70%.
Three drill rigs are operating at the project, with work primarily focused on delineating the extent and tenor of the gold-rich Aurora porphyry copper–gold–silver deposit.
Drilling completed in 2025 intersected mineralisation across an area measuring 1.4km by 0.8km, which remains open for expansion.
“Freeport’s additional exploration funding will significantly assist in unlocking the Tier 1 potential of the entire Joy Copper-Gold District in the Toodoggone region of British Columbia,” CEO Diane Nicolson says.
Drilling is also underway at the Twins gold-copper discovery, around 17km south of Aurora.
Amarc is conducting geological, geochemical, and geophysical surveys to define potential drill sites at several other gold-copper targets across the district.
Following completion of the C$20 million program, approximately C$35.9 million will remain under Freeport’s Stage 2 earn-in commitment.
Freeport earned its initial 60% interest by funding C$35 million of exploration and subsequently elected to spend a further C$75 million to increase its interest.
Although Freeport is the project operator, Amarc manages Aurora Minerals’ exploration programs as the primary contractor under a separate service agreement.
Write to France Pinzon at Mining.com.au
Images: Amarc Resources
