American Pacific Drills 10.4 Metres of 1.17% Copper, 12.17% Zinc, 1.01 g/t Gold and 101.49 g/t Silver (7.3% Copper Equivalent) from Zone 1 at the Palmer Copper-Zinc VMS Project
American Pacific Mining reports assay results from seven holes of its sixteen-hole drill program at the Palmer Copper-Zinc VMS Project in Southeast Alaska. Key highlights include hole CMR24-194 with 16.4m of 0.8% Cu, 8.4% Zn, 0.6% Pb, 0.72 g/t Au and 77.5 g/t Ag, including a high-grade section of 10.4m at 7.3% copper equivalent. The 2024 drill program, part of a CAD $17.5M exploration budget funded through a joint venture with Dowa Metals & Mining Alaska, completed 6,035.9 metres across 19 drill holes, focusing on infill drilling and testing high-grade copper-zinc mineralization zones.
American Pacific Mining riporta i risultati delle analisi di sette fori del suo programma di perforazione di sedici fori presso il Palmer Copper-Zinc VMS Project nel sud-est dell'Alaska. Tra i punti salienti, il foro CMR24-194 ha mostrato 16,4 m di 0,8% Cu, 8,4% Zn, 0,6% Pb, 0,72 g/t Au e 77,5 g/t Ag, inclusa una sezione ad alta gradazione di 10,4 m a 7,3% di equivalente rame. Il programma di perforazione del 2024, parte di un budget di esplorazione di 17,5 milioni di dollari CAD finanziato attraverso una joint venture con Dowa Metals & Mining Alaska, ha completato 6.035,9 metri su 19 fori, concentrandosi sulla perforazione infill e sul test delle zone di mineralizzazione ad alta gradazione di rame e zinco.
American Pacific Mining informa los resultados de los ensayos de siete perforaciones de su programa de dieciséis perforaciones en el Palmer Copper-Zinc VMS Project en el sureste de Alaska. Los aspectos más destacados incluyen el pozo CMR24-194 con 16,4 m de 0,8% Cu, 8,4% Zn, 0,6% Pb, 0,72 g/t Au y 77,5 g/t Ag, incluyendo una sección de alta ley de 10,4 m con equivalente a 7,3% de cobre. El programa de perforación 2024, parte de un presupuesto de exploración de 17,5 millones de CAD financiado a través de una empresa conjunta con Dowa Metals & Mining Alaska, completó 6,035.9 metros en 19 perforaciones, enfocándose en perforaciones de relleno y pruebas de zonas de mineralización de cobre y zinc de alta ley.
American Pacific Mining는 알래스카 남동부의 Palmer Copper-Zinc VMS Project에서 진행된 16개의 시추 프로그램 중 7개의 구멍에 대한 분석 결과를 보고했습니다. 주요 하이라이트로는 16.4m에서 0.8% Cu, 8.4% Zn, 0.6% Pb, 0.72 g/t Au 및 77.5 g/t Ag를 포함하는 CMR24-194 구멍이 있으며, 이 중 고품질 섹션은 구리 동등치가 7.3%인 10.4m입니다. 2024년 시추 프로그램은 Dowa Metals & Mining Alaska와의 합작 투자에 의해 지원되는 1,750만 캐나다 달러의 탐사 예산의 일환으로 19개의 시추 구멍에서 6,035.9미터를 완료하였으며, 충전 시추 및 고급 구리-아연 광물화 구역 테스트에 집중했습니다.
American Pacific Mining rapporte les résultats d'analyse de sept trous de son programme de forage de seize trous au Palmer Copper-Zinc VMS Project dans le sud-est de l'Alaska. Parmi les temps forts, on trouve le trou CMR24-194 avec 16,4 m de 0,8 % Cu, 8,4 % Zn, 0,6 % Pb, 0,72 g/t Au et 77,5 g/t Ag, y compris une section de haute qualité de 10,4 m à 7,3 % d'équivalent cuivre. Le programme de forage 2024, faisant partie d'un budget d'exploration de 17,5 millions de CAD financé par un partenariat avec Dowa Metals & Mining Alaska, a complété 6 035,9 mètres à travers 19 trous, en se concentrant sur le forage d'infill et le test des zones de minéralisation de cuivre-zinc de haute qualité.
American Pacific Mining berichtet über die Analyseergebnisse von sieben Löchern seines sechzehn Löcher umfassenden Bohrprogramms im Palmer Copper-Zinc VMS Project im Südosten Alaskas. Zu den wichtigsten Highlights gehört das Loch CMR24-194 mit 16,4 m bei 0,8% Cu, 8,4% Zn, 0,6% Pb, 0,72 g/t Au und 77,5 g/t Ag, einschließlich eines hochgradigen Abschnitts von 10,4 m mit 7,3% Kupferäquivalent. Das Bohrprogramm 2024, das Teil eines Erkundungsbudgets von 17,5 Mio. CAD ist und über ein Joint Venture mit Dowa Metals & Mining Alaska finanziert wird, hat 6.035,9 Meter in 19 Bohrlöchern abgeschlossen und sich auf Auffüllbohrungen sowie Tests von hochgradigen Kupfer-Zink-Mineralisierungszonen konzentriert.
- High-grade mineralization discovered in CMR24-194 with 7.3% copper equivalent over 10.4m
- Successfully completed 6,035.9 metres of drilling across 19 holes
- Well-funded exploration with CAD $17.5M budget through joint venture partnership
- None.
Vancouver, British Columbia--(Newsfile Corp. - October 31, 2024) - American Pacific Mining Corp. (CSE: USGD) (OTCQX: USGDF) (FSE: 1QC) ("American Pacific" or "the Company") is pleased to report assay results from the first seven (7) holes of the Company's sixteen (16) hole drill program at its Palmer Copper-Zinc VMS Project ("Palmer") in Southeast Alaska. The 2024 drill program was part of a planned CAD
Highlights include:
- CMR24-194: 16.4 m of
0.8% Cu,8.4% Zn,0.6% Pb, 0.72 g/t Au and 77.5 g/t Ag (5.1 CuEq);
including 10.4 m of1.17% Cu,12.17% Zn, 1.01 g/t Au and 101.49 g/t Ag (7.3% CuEq) - CMR24-193: 3.5 m of
0.1% Cu,1.7% Zn,0.6% Pb, 0.86 g/t Au and 92.4 g/t Ag (1.9% CuEq) - CMR24-192: 2.9 m of
3.5% Cu,0.68% Zn, 0.3 g/t Ag (3.8% CuEq) and 9.8 m of0.58% Cu further downhole
Notes: m = metres; Cu=copper; Zn=zinc; Au=gold; Ag=silver; Pb=lead. CuEq=copper equivalent. Copper Equivalent calculated using the same metal prices and recovery assumptions as the Company's NI 43-101 Technical Report (JDS 2022). See Table 1 for all new assay results and corresponding disclosure notes.
"This year's drill program was successful in following up on last year's high-grade results, while better defining the known mineralization on the property, ahead of the updated Mineral Resource Estimate and Technical Report budgeted to begin this year," commented Peter Mercer, VP Advanced Projects for American Pacific. "The Palmer Project is located within a prolific mineral belt in Southeast Alaska. This mineral terrane extends hundreds of kilometres north and south of Palmer, hosting several historic and current mining operations. The Palmer and AG deposits are just two of the mineralized areas defined and drill tested to date, on the property that has district-scale potential."
The 2024 drill program included a total of 6,035.9 metres (19,650 feet) in nineteen (19) drill holes including three (3) drill holes (125.8 metres; 410 feet) that were recollared. The drill program was designed to continue infill drilling and testing the extents of the high-grade copper-zinc mineralization of the South Wall Zone 1 and Zone 2-3. The program also included three exploration drill holes for 1,033.3 metres (3,390 feet) to test the nearby North Wall Target testing, a potential fault offset extension of the South Wall mineralization.
Initial Observations and Interpretations
Highlights of the Zone 1 drilling indicate a high-grade zoning in the upper portion of Zone 1, with continuity of the mineralized horizon to the west and downdip. Drill hole locations are shown on Figure 1 and 2 with assay results provided on Table 1.
CMR24-194 infilled a 70-metre gap in the west portion of Zone 1 with a well mineralized interval over a drilled thickness of 16.4 metres (13.9 metres estimated true width). The mineralized interval intersected semi-massive to massive sulphides with barite over most of its length with significant copper, zinc, gold and silver grades. The infill drill hole reflects good continuity of the grade and thickness within the mineralized envelope.
CMR24-189, CMR24-191 and CMR24-193 tested and confirmed the western extension of Zone 1 mineralization with low-grade base and precious metal mineralization intersected along the projected mineralized horizon. Two of the drill holes (CMR24-191 and 193) intersected the RW Zone near the top of the drill holes with significant gold and silver mineralization, plus barite, intersected in CMR24-193.
CMR24-189, CMR24-190C and CMR24-192 tested the downdip extension of Zone 1 and intersected significant zones of semi-massive to massive pyrrhotite and pyrite mineralization extending mineralization downdip. Assay results returned a large low-grade halo of base and precious metal mineralization with local higher-grade samples.
Figure 1: Isometric Plan view with 2024 drill holes - Palmer Deposit
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Figure 2: Projected Long Section - Palmer Deposit
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Photo 1: Piece of CMR24-189 split drill core from 247.8 to 248.0 m
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Table 1: Assay Results from Zone 1
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*ETT = Estimated True Thickness; na = samples not analyzed by XRF; BaSO4 not included in CuEQ or ZnEQ; Shaded areas in the table reflect the RW Zone.
Copper and Zinc Equivalent Notes:
ZnEQ = (Cu/100*2204.6*$lbCu*CuREC) + (Zn/100*2204.6*$lbZn*ZnREC) + (Au/31.1035*$ozAu*AuREC) + (Ag/31.1035*$ozAg*AgREC) / (2204.6/100*$lb Zn*ZnREC)
CuEQ = (Cu/100*2204.6*$lbCu*CuREC) + (Zn/100*2204.6*$lbZn*ZnREC) + (Au/31.1035*$ozAu*AuREC) + (Ag/31.1035*$ozAg*AgREC) / (2204.6/100*$lb Cu*CuREC)
Lead (Pb) and Barite (BaSO4) are not included in the CuEQ and ZnEQ values.
Assumed metal prices are US
$1.15 /lb for zinc (Zn), US$3.00 /lb for copper (Cu), US$125 0/oz for gold (Au), US$16 /oz for silver (Ag) (JDS 2022).Estimated metal recoveries (REC) are
93.1% for zinc,89.6% for copper,90.9% for silver and69.6% for gold as determined from metallurgical locked cycle flotation tests completed in 2018 (JDS 2022).
Quality Assurance (QA) and Quality Control (QC)
There are strict Quality Assurance and Quality Control (QA/QC) protocols at Palmer covering the planning and placing of drill holes in the field; drilling and retrieving drill core; drill hole surveying; core transport to the Palmer Camp; core logging, sampling and bagging of core for analysis; transport of core samples from site to ALS Laboratory in North Vancouver, BC for sample preparation and analysis; recording and final statistical vetting of results.
Sampling Procedures - The Company's QA/QC drill core sample protocol consists of collection of samples over a minimum 0.3 m interval to a maximum 1.5 m interval (depending on the lithology and style of mineralization) over the mineralized portions of the drillhole. The drill core sample is cut in half with a diamond saw, with half of the core placed in individual sealed polyurethane bags and the remaining half securely retained in the original core box for permanent storage. Drill core samples are shipped by transport truck in sealed woven plastic bags to ALS Geochemistry Analytical Lab facility in North Vancouver, BC for sample preparation and analysis. ALS Geochemistry meets all requirements of International Standards ISO/IEC 17025:2017 and ISO 9001:2015. ALS Global operates according to the guidelines set out in ISO/IEC Guide 25.
Various metals including copper, lead, zinc and silver were analyzed by inductively coupled plasma (ICP) atomic emission spectroscopy, following multi-acid digestion. The elements copper, lead and zinc are determined by ore grade assay for samples that return values >10,000 ppm by ICP analysis. Silver is determined by ore-grade assay for samples that return >100 ppm by ICP analysis. Gold was determined by fire-assay fusion of a 30 g sub-sample with atomic absorption spectroscopy (AAS). Barium (BaO) analysis utilized lithium borate fusion into fused discs for XRF analyses, with BaO converted to BaSO4 (barite) using a conversion factor of BaO x 1.52217. Density measurements were determined at the project site by Constantine personnel on cut core for each assay sample.
The Company maintains a robust QA/QC program that includes the collection and analysis of duplicate samples and the insertion of blanks and standards (certified reference material). In addition, prepared samples, sample replicates, duplicates and internal reference materials are routinely used as part of ALS Geochemistry's internal quality assurance program.
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: the Palmer Project, a Volcanic Massive Sulphide-Sulphate (VMS) project in Alaska, under joint-venture partnership with Dowa Metals & Mining, owner of Japan's largest zinc smelter; and the Madison Project, a past-producing copper-gold project in Montana. For the Madison transaction, American Pacific was selected as a finalist in both 2021 and 2022 for 'Deal of the Year' at the S&P Global Platts Metals Awards, an annual program that recognizes exemplary accomplishments in 16 performance categories.
Also, in American Pacific's asset portfolio are high-grade, precious metals projects located in key mining districts in Nevada, USA, including the Ziggurat Gold Project and the Tuscarora Gold-Silver District. The Company's mission is to grow by the drill bit, strategic partnerships, and M&A.
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.
The Canadian Securities Exchange 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/228308
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