2021-11-15 06:02:51
VANCOUVER, British Columbia, Nov. 15, 2021 (GLOBE NEWSWIRE) — American Pacific Mining Corp (CSE: USGD / OTCQB: USGDF / FWB: 1QC) (“American Pacific” or the “Company”) is pleased to report results from a geophysics program at its Madison Copper-Gold project in Montana conducted by Kennecott Exploration (“KEX”), a division of the Rio Tinto Group, which show downhole electro-magnetic survey anomalies suggesting untested continuation of high grade copper mineralization. The Madison project is under a joint venture earn-in agreement, whereby Rio Tinto may earn 70% of the project by spending US $30 million.
Big Sky Geophysics have recently completed and interpreted a down hole TDEM survey from drill holes MADN0025, MADN0026, MADN0027 and MADN0028 with the intent of mapping down hole sulfide zones associated with skarn mineralization.
The best response of the survey occurs at station 255 in MADN0028 which shows a strong response indicating continued, untested sulfide mineralization at depth. There is a similar response at the bottom of holes MADN0025 and MADN0026 that furthers the potential for deeper sulfides. There were no significant conductors in drill hole MADN0027.
Four models were developed from this survey and prove to be valid and reliable in defining a conductor in a high-grade Au-Cu skarn zone. These conductors are positioned directly in line with the down-dip projection of the Au-Cu skarn mineralization and indicate that this zone continues at depth (see Figure 1).
These TDEM conductors indicate a potential network of interlocking sulfides located near the Radar Creek intrusive-Madison Limestone contact that are commonly mineralized and offer strong potential to extend mineralization to depth.
“These downhole geophysical results are exciting and point to an intriguing target as the upper two plates line up with existing known mineralization,” states President Eric Saderholm. “Two plates intersect outside of the tested area along strike and down-plunge and two other plates intersect close to where we have the bulk of the deeper mineralization. This provides ample evidence that sulfides that have historically been associated with gold and copper persist at depth.”
For further context and additional historic drilling results, please consult the technical report for the Madison Project dated effective February 22, 2019, which was prepared in accordance with National Instrument 43-101 – Standards for Disclosure for Mineral Projects (“NI 43-101”) which is available on the Company’s website:
https://americanpacific.ca/site/assets/files/3775/2019-03-04_brd_ni_43-101_report.pdf
Qualified Person
Technical aspects of this press release have been reviewed and approved by Phil Mulholland, P.Geo. and Eric Saderholm, P.Geo., the designated Qualified Persons (QP) under NI 43-101.
About American Pacific Mining Corp.
American Pacific Mining Corp. is a precious metals explorer focused on opportunities in the Western United States. The Company’s flagship asset is the high-grade, past-producing Madison Copper-Gold project in Montana, under option to joint venture with Kennecott Exploration Company, a division of the Rio Tinto Group, which the Company acquired in 2020. For this transaction, American Pacific has been selected as a finalist in the S&P Global Platts Global Metals Awards, an annual program that recognizes exemplary accomplishments in 16 performance categories, including ‘Deal of the Year,’ the category in which American Pacific Mining is competing. The awards program is hosted by S&P Global Platts, the leading independent provider of information and benchmark prices for the commodities and energy markets. Also in the American Pacific’s asset portfolio are the Gooseberry Gold-Silver project and the Tuscarora Gold project: two high-grade, precious metals projects located in key mining districts of Nevada, USA. The Company’s mission is to grow by the drill bit and by acquisition.
On Behalf of the Board of American Pacific Mining Corp.
“Warwick Smith”
CEO & Director
Corporate Office: Suite 910 – 510 Burrard Street Vancouver, BC, V6C 3A8 Canada
Contact Kristina Pillon, President, High Tide Consulting Corp., 604.908.1695 / This email address is being protected from spambots. You need JavaScript enabled to view it.
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