VANCOUVER, British Columbia, July 20, 2021 (GLOBE NEWSWIRE) -- American Pacific Mining Corp (CSE: USGD / FWB: 1QC / OTCQB: USGDF) (“American Pacific” or the “Company”)is pleased to recap the recently compiled results from the 2019 and 2020 drilling programs conducted by Kennecott Exploration Company (“Kennecott”) on the Company’s Madison Copper Gold Project (the “Madison Project”), located in Montana, USA. The Madison Project encompasses a historical mining district and past producer in western Montana, USA.
The Company’s wholly owned Madison Project is currently under an earn-in with an option to joint venture agreement, whereby Kennecott, part of the Rio Tinto Group, may spend $30 million USD to earn up to 70% (see news release dated June 26, 2020).
“These drill results from the 2019 and 2020 campaigns encountered a variety of styles of mineralization including jasperoids, veins and skarns, all of which can contain strong copper and gold values,” states Eric Saderholm, President of American Pacific. “The 2021 drilling and exploration program is currently in progress at Madison with a diamond drill and crews on-site. Mineralization continues to be open down-plunge and lateral to modelled mineral bodies. Our joint venture partners, the Rio Tinto Group, have developed an innovative and unique structural interpretation at Madison and several planned holes will test these theories.”
The 2019 drill program consisted of fourteen diamond drill holes totaling 4,013.93 m. Drill holes MADN0001 to MADN0006 targeted Porphyry style mineralization and drill holes MADN0007 to MADN0014 targeted the down dip and easterly strike extension to the known Madison Skarn mineralization.
The 2020 drilling program consisted of nine diamond drill holes totaling 2012.44 m, which mainly targeted extensions of skarn and associated jasperoid mineralization. Significant intervals from both the 2019 and 2020 drill holes are listed in Table 1 below.
Click the following link to view the latest drill results and highlighted historical results in 3D:
Table 1: 2019 and 2020 Significant Drill Results from the Madison Project
|Ag g/t||Au g/t||Cu %|
Figure 1 – Planimetric map showing 2019 – 2020 drilling, significant intercept locations and copper mineralization.
Figure 2 – Long section showing 2019 – 2020 highlighted intercepts and gradeshell interpolation for copper.
Figure 3 – Long section showing 2019 – 2020 highlighted intercepts and gradeshell interpolation for copper
- g/t = grams per metric tonne
- m = meters
- Interval lengths are reported as downhole lengths. True width of mineralization has not been determined.
Drill holes MADN0002, MADN0003, MADN0005, MADN0006, MADN0008, MADN009, MADN015, MADN016, MADN018, MADN019, MADN020, MADN023 did not return significant assay values and have not been included in Table 1.
Table 2: AdditionalHistorical Drill Highlights from the Madison Project
|Au g/t||Cu %|
|UG17-06 including||4.60||82.87||Not significant|
|C05-06 including||8.47||Not significant||40.03|
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:
Table 3: 2019 and 2020 Drill Hole Locations, Madison Project
- Projection: UTM Nad83 Zone 12
Sampling, Laboratory and Quality Assurance/Quality Control Program
All drill core was logged and photographed prior to sample selection. Selected sample intervals honor lithological and visible sulfide boundaries and split in half along the core axis with a diamond saw. Half-core samples were submitted to ALS Laboratories in Elko, Nevada, USA (17025 accredited), for preparation and analysis. Drill core samples were analyzed for 48 elements by four-acid digestion of a 0.25-gram sample followed by an ICP-MS (inductively coupled plasma mass spectroscopy) finish. Gold (Au) was also analyzed by fire assay of a 30-gram sample followed by an ICP-AES (inductively coupled plasma atomic emission spectroscopy) finish.
As part of the Rio Tinto Exploration quality assurance/quality control (QA/QC) program, independently certified control samples (standard and blank pulp samples), coarse blank samples and core duplicate samples were inserted into the sample stream in each analytical batch. The control sample results are monitored to ensure proper QA/QC.
Technical aspects of this press release have been reviewed and approved by Phil Mullholland, 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.
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 / Kristina@americanpacific.ca
The CSE has neither approved nor disapproved the contents of this news release. Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
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