'It's an exciting time to be an established mineral exploration and development company in a progressive, strategically located jurisdiction like
Nicolson said a number of factors have coalesced to create the current market conditions for copper, in which experts believe the forecast gap between supply and demand will reach unprecedented levels over the next decade. These factors include: the global push to adopt renewable energy, electrification and other no- and low-carbon technologies to address climate risks - notably wind and solar power generation, electric vehicles ('EVs') and associated charging infrastructure; given the unique characteristics of copper as a conductor of electricity, it currently has no cost-effective replacement in most renewable energy and electrification applications and limitations on global copper production, as producers face exhausted orebodies, falling grades, growing geopolitical risk and a paucity of new copper mines in the pipeline.
'Goldman Sachs Commodities Research recently reported the global copper supply gap could reach 8.2 million tonnes by 2030 the largest deficit on record, and one that will necessitate a 40% increase in production in less than 10 years,' Nicolson said. 'Even more compelling is that society's transition to 'carbon-neutrality' is absolutely dependent on the mining and metals sector's ability to address that gap.'
Goldman Sachs'
Nicolson said
Currently,
'We're certainly aware of the
Amarc holds a 100%-interest in three major copper-gold porphyry districts in BC - including the 482 km2
'As investor, government and public interest in copper as part of the solution to climate change continues to build momentum, Amarc will be working to advance resource delineation and district-wide exploration on all our properties,' Nicolson said. 'The recently announced alliance with
Amarc's President & CEO added that the high-value JOY, IKE and DUKE copper-gold districts have all been acquired, assembled and advanced with an intrinsic understanding of the assets major copper producers will seek in the coming years.
About
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 copper-gold 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 the 100%-owned IKE, DUKE and JOY porphyry copper+/-gold districts located in different prolific porphyry districts in southern, central and northern BC, respectively. Each of the three districts is located in proximity to industrial infrastructure - including power, highways and rail. Importantly, each district represents significant potential for the development of multiple and important-scale, porphyry copper+/-gold deposits.
Amarc is associated with HDI, a diversified, global mining company with a 30-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,
Amarc works closely with local governments, Indigenous groups and other 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.
Contact:
Dr.
Tel: (604) 684-6365
Forward Looking and other Cautionary Information
This news release includes certain statements that may be deemed 'forward-looking statements'. All such statements, other than statements of historical facts that address exploration drilling, exploitation activities and other related events or developments are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Assumptions used by the Company to develop forward-looking statements include the following: Amarc's projects will obtain all required environmental and other permits and all land use and other licenses, studies and exploration of Amarc's projects will continue to be positive, and no geological or technical problems will occur. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, potential environmental issues or liabilities associated with exploration, development and mining activities, exploitation and exploration successes, continuity of mineralization, uncertainties related to the ability to obtain necessary permits, licenses and tenure and delays due to third party opposition, changes in and the effect of government policies regarding mining and natural resource exploration and exploitation, exploration and development of properties located within Aboriginal groups asserted territories may affect or be perceived to affect asserted aboriginal rights and title, which may cause permitting delays or opposition by Aboriginal groups, continued availability of capital and financing, and general economic, market or business conditions, as well as risks relating to the uncertainties with respect to the effects of COVID-19. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements.
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