American Pacific Closes Transaction to Gain USD$10M and 100% Interest in the Palmer VMS Project in Alaska
American Pacific Mining Corp. has completed a significant transaction with Dowa Metals & Mining Alaska , acquiring 100% interest in the Palmer VMS Project in Alaska. As part of the deal, American Pacific received USD$10 million from Dowa in exchange for providing Dowa's affiliate an option to acquire up to 50% of zinc concentrate from future production. The Palmer Project is an advanced-stage copper-zinc-gold-silver exploration site located 60 kilometers from the Haines deep-sea port, with over USD$116 million invested to date. The project features road access and multiple drill-ready, high-grade prospects across 15 kilometers of mineral trends.
American Pacific Mining Corp. ha completato una transazione significativa con Dowa Metals & Mining Alaska, acquisendo il 100% dell'interesse nel Palmer VMS Project in Alaska. Come parte dell'accordo, American Pacific ha ricevuto 10 milioni di dollari USA da Dowa in cambio di una opzione per consentire all'affiliato di Dowa di acquisire fino al 50% del concentrato di zinco della produzione futura. Il Palmer Project è un sito di esplorazione avanzato per rame, zinco, oro e argento, situato a 60 chilometri dal porto in acque profonde di Haines, con oltre 116 milioni di dollari USA investiti fino ad oggi. Il progetto presenta accesso stradale e molteplici prospettive pronte per la perforazione, ad alto grado, lungo 15 chilometri di tendenze minerali.
American Pacific Mining Corp. ha completado una transacción significativa con Dowa Metals & Mining Alaska, adquiriendo el 100% del interés en el Palmer VMS Project en Alaska. Como parte del acuerdo, American Pacific recibió 10 millones de dólares estadounidenses de Dowa a cambio de ofrecer a una afiliada de Dowa una opción para adquirir hasta el 50% del concentrado de zinc de la producción futura. El Palmer Project es un sitio de exploración avanzada de cobre, zinc, oro y plata, ubicado a 60 kilómetros del puerto en alta mar de Haines, con más de 116 millones de dólares estadounidenses invertidos hasta la fecha. El proyecto cuenta con acceso por carretera y múltiples prospectos listos para perforación, de alta ley, a lo largo de 15 kilómetros de tendencias minerales.
American Pacific Mining Corp.는 Dowa Metals & Mining Alaska와의 중요한 거래를 완료하고 알래스카의 Palmer VMS 프로젝트에서 100% 지분을 인수했습니다. 이번 거래의 일환으로 American Pacific는 Dowa로부터 1000만 달러를 받고 Dowa의 제휴사에게 향후 생산에서 최대 50%의 아연 농축물을 인수할 수 있는 옵션을 제공했습니다. Palmer Project는 Haines 심해 항구에서 60킬로미터 떨어진 고급 구리-아연-금-은 탐사 사이트로, 현재까지 1억 1600만 달러 이상이 투자되었습니다. 이 프로젝트는 도로 접근성이 있으며, 15킬로미터에 걸쳐 높은 등급의 여러 채굴 준비가 된 광맥을 가지고 있습니다.
American Pacific Mining Corp. a conclu une transaction significative avec Dowa Metals & Mining Alaska, acquérant 100 % de l'intérêt dans le Palmer VMS Project en Alaska. Dans le cadre de l'accord, American Pacific a reçu 10 millions USD de Dowa en échange de l'octroi à une filiale de Dowa d'une option pour acquérir jusqu'à 50 % du concentré de zinc provenant de la production future. Le projet Palmer est un site d'exploration avancé de cuivre-zinc-or-argent situé à 60 kilomètres du port en eaux profondes de Haines, avec plus de 116 millions USD investis à ce jour. Le projet dispose d'un accès routier et de plusieurs perspectives prêtes à être percées, de haute qualité, sur 15 kilomètres de tendances minérales.
Die American Pacific Mining Corp. hat eine bedeutende Transaktion mit Dowa Metals & Mining Alaska abgeschlossen und 100% Beteiligung am Palmer VMS-Projekt in Alaska erworben. Im Rahmen des Deals erhielt American Pacific 10 Millionen USD von Dowa im Austausch dafür, dass Dowa einer Tochtergesellschaft die Option einräumt, bis zu 50% des Zinkkonzentrats aus künftiger Produktion zu erwerben. Das Palmer-Projekt ist ein fortgeschrittenes explorationsprojekt für Kupfer, Zink, Gold und Silber, das 60 Kilometer vom tiefwasserhafen Haines entfernt liegt, mit bisher über 116 Millionen USD an Investitionen. Das Projekt verfügt über Straßenanbindung und mehrere bohrbereite, hochgradige Aussichten über 15 Kilometer mineralischer Trends.
- Received USD$10 million cash payment
- Acquired 100% ownership of Palmer VMS Project
- Project has existing NI-43-101 mineral resources
- Strategic location with road access and proximity to deep-sea port
- USD$116M already invested in project development
- Project still in exploration phase with no current production
- Future obligation to sell up to 50% of zinc concentrate to Dowa
Vancouver, British Columbia--(Newsfile Corp. - December 2, 2024) - American Pacific Mining Corp. (CSE: USGD) (OTCQX: USGDF) (FSE: 1QC1) ("American Pacific" or the "Company") announced today that it has closed its previously announced transaction with Dowa Metals & Mining Alaska Ltd. ("Dowa") to acquire Dowa's interest in Constantine Mining LLC, the holder of the Palmer VMS Project ("Palmer" or the "Project"). American Pacific would once again like to thank Dowa for its collaborative approach to work at Palmer over the years.
Transaction Terms
Pursuant to the terms of the Purchase Agreement executed November 15th, 2024, Constantine North Inc., a wholly-owned subsidiary of American Pacific, has acquired Dowa's interest in Constantine Mining LLC (the "Dowa Interest") and Dowa has paid American Pacific USD
"This transaction marks a pivotal moment for American Pacific," commented American Pacific's Chief Executive Officer, Warwick Smith. "We've now obtained full ownership of a project with proven mineral resources and vast untapped regional discovery potential, while also securing substantial funding to ramp up exploration of key assets across our portfolio, paving the way for significant resource growth."
Palmer VMS Project
The Palmer VMS Project is an advanced stage copper-zinc-gold-silver exploration project in Southeast Alaska with road access and located only 60 kilometres (37 miles) from the deep sea port at Haines, Alaska. More than USD
Qualified Person Statement
The technical information in this news release regarding the Palmer Project has been reviewed and approved by Michael Vande Guchte, P.Geo., Vice President of Exploration for the Palmer Project and a Qualified Person (QP) as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects.
About American Pacific Mining Corp.
American Pacific Mining Corp. is a precious and base metals explorer and developer focused on opportunities in the Western United States. The Company has two flagship assets:
On behalf of the American Pacific Mining Corp Board of Directors:
Warwick Smith, CEO & Director
Corporate Office: Suite 910 – 510 Burrard Street
Vancouver, BC, V6C 3A8 Canada
Investor relations contact:
Kristina Pillon, High Tide Consulting Corp.
604.908.1695 / Kristina@americanpacific.ca
Media relations contact:
Adam Bello, Primoris Group Inc.
416.489.0092 / media@primorisgroup.com
Full disclosure can be found in our NI 43-101 Technical Report for the Palmer Project at www.americanpacificmining.com.
Forward-looking Information
This news release includes certain statements that may be deemed to be "forward-looking information" within the meaning of Canadian securities legislation. All statements in this news release, other than statements of historical facts are forward looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "may", "will", "project", "predict", "potential", "targeting", "intend", "could", "might", "should", "believe" and similar expressions. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Although APM 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. Factors that could cause actual results to differ materially from those in forward-looking statements include, but are not limited to, timing of receipt of required permits, changes in applicable laws, changes in commodities prices, changes in mineral production performance, exploitation and exploration successes, as applicable, continued availability of capital and financing, and general economic, market or business conditions, political risk, currency risk and capital cost inflation. In addition, forward-looking statements are subject to various risks, including that data is incomplete and considerable additional work will be required to complete further evaluation, including but not limited to drilling, engineering and socio-economic studies and investment. The reader is referred to the APM's filings with the Canadian securities regulators for disclosure regarding these and other risk factors. There is no certainty that any forward-looking statement will come to pass, and investors should not place undue reliance upon forward-looking statements.
The CSE has neither approved nor disapproved the contents of this news release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/231954
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