DRP Journal

Discover Research Profit

Finance 

Amarc Resources Ltd (OTCMKTS:AXREF) Stock On Radar: Completes Phase 1 Drilling Program

Pete Matthews , , , ,

On Thursday Amarc Resources Ltd (OTCMKTS:AXREF) came into focus among investors after it announced that it had been successful in completing the core drilling program at the DUKE poryphyry Cu-Au district property located in central British Columbia. It should also be noted that Amarc Resources owns the property in its entirety.

Trading Data     

On Thursday, AXREF stock slid 2.96% to $0.0950 with more than 40.50K shares, compared to volume of 27.89K shares. The stock moved within a range of $0.0950 – 0.0982 after opening trade at $0.0982.

Amarc Completes Phase 1 Drilling Program at Its Duke Copper-Gold District, BC Next Exploration Phase Planned to Commence in June

During the course of the drilling program as many as three drill rigs had been deployed by the company and as many as 24 drill holes had been completed totalling 11070 m. The company noted yesterday that it was now working on planning the second phase of the exploration program that would begin in the early part of the summer and would also include considerable surface surveys.

It was further announced that strong results had been reported from the two drill holes that had been drilled in the first phase back in 2022. The company also announced yesterday that it had granted as many as 520000 incentive stock options to some of the key service providers so as to acquire as many as 520000 common shares in Amarc Resources for the price of $0.125 a share for a period of three years.

Pete Matthews

Pete attended the University of Colorado and still calls the centennial state home. He chases trout in the summer and snowboards in the winter. He is fascinated with the markets and has a strong interest in nanocap stocks and crypto currency.