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American Copper Development Corporation (CSE: ACDX) (OTCQB: ACDXF) is a dynamic mineral exploration company focused on discovering and developing economic precious and base metal properties. The company's flagship project, the 100% owned Lordsburg Project in New Mexico, is strategically located in a porphyry-rich copper region. Lordsburg lies at the intersection of the Santa Rita and Texas Lineaments, where significant historical production from polymetallic veins has been recorded. The project features increasing copper grades at depth, with historically drilled intercepts showing over 4% copper.
Recently, ACDX completed its maiden drilling campaign at Lordsburg, drilling six holes totaling 4,662 meters. The analytical results, expected soon, will provide valuable insights into the potential of this largely unexplored high-grade copper porphyry district. In addition to drilling, the company has expanded its land position by staking 235 unpatented lode mining claims and securing three patent mining claims through a lease with an option to purchase, bringing the total to 1,205 contiguous claims covering 9,462 hectares.
The company demonstrated notable drill results, including hole AC23-006, which intersected 44 meters of 1% copper equivalent, containing high-grade intervals. The exploration program highlighted the presence of a large-scale porphyry system with significant copper, silver, and gold mineralization. The company plans to integrate these findings with extensive geophysical and geochemical data to target the porphyry copper center in future drilling phases.
Financially, ACDX has strengthened its position by renegotiating terms with Waterton Nevada Splitter LLC, reducing its liabilities from CAD$5,000,000 to CAD$400,000. This financial maneuver supports further exploration and development activities, enhancing shareholder value.
The company is led by CEO Daniel Schieber and an experienced management team committed to advancing the Lordsburg Project and other promising properties. For the latest updates and further information, contact Daniel Schieber at invest@american-copper.com or visit the company's website.
American Copper Development (CSE: ACDX) announced changes to its Board of Directors on December 19, 2024. Chairman and Director Rick van Nieuwenhuyse and Curtis Freeman have resigned effective December 17, 2024. The board has appointed Michael Murphy as interim Chairman and Director. Murphy brings significant experience in the metals and mining sector, including founding TSX-listed Torex Gold Resources Inc. and holding positions at Merrill Lynch, DLJ, and Credit Suisse. He currently serves as CEO of South Pacific Metals Corp.
American Copper Development (CSE: ACDX) has appointed Marcio Fonseca, P.Geo as an independent board member. Fonseca brings 30+ years of professional experience in mining across multiple commodities and jurisdictions. His notable achievements include involvement in Tier 1 deposit discoveries and the CAD$155M acquisition of SilverCrest Mines by First Majestic Silver Corp. Previously, he served as VP of Corporate Development at SilverCrest Mines and Division Director at Macquarie Bank. He has held senior positions with Vale, Phelps Dodge, and Freeport in Latin America, and currently serves as President, COO and Founder of GR Silver.
American Copper Development (ACDXF) successfully renegotiated terms with Waterton Nevada Splitter , reducing property purchase liabilities by $4.6M or 90%. The company now owes CAD$400,000 by August 2025, down from CAD$5,000,000. Waterton received CAD$625,000 and 1,564,823 shares in exchange. Rick van Nieuwenhuyse, Chairman, sees this as a major step towards owning the Lordsburg district outright, highlighting exciting exploration opportunities amidst a Copper bull-market. The amended terms include payments of CAD$625,000, issuance of 1,546,823 shares, CAD$50,000 due in August 2024, and a final payment of CAD$350,000 in August 2025.
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