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American Pacific Mining Receives Final Permits and Plans Drill Program at the Gooseberry Silver-Gold Project in Nevada

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American Pacific Mining has received final permits to start a drill program at the Gooseberry Silver Project in Nevada. The planned 15-hole drilling strategy, combining reverse circulation and diamond drilling, will target higher-grade mineralization areas detected during previous operations. The Gooseberry mine was active for nearly a century and holds promising historical samples, including up to 18.45 g/t Au and 595 g/t Ag. Additionally, the company announces the resignation of board member Norm Wareham. American Pacific aims to expand its operations and maximize shareholder value.

Positive
  • Received final permits for a 15-hole drill program at Gooseberry Silver Project.
  • Targeting higher-grade mineralization based on historical mining data.
  • Historical samples show high potential, with grades up to 18.45 g/t Au and 595 g/t Ag.
Negative
  • Resignation of board member Norm Wareham.

VANCOUVER, British Columbia, Aug. 30, 2021 (GLOBE NEWSWIRE) -- American Pacific Mining Corp (CSE: USGD / OTCQB: USGDF / FWB: 1QC) (“American Pacific” or “the Company”) is pleased to announce it has received final permits to commence a drill program at the past-producing high-grade Gooseberry Silver Project in Nevada.

With final drill permits now in hand, a 15-hole combination reverse circulation (RC) and diamond drill program is now expected to commence later this year.

Gooseberry is a low sulphidation, epithermal vein system encompassing the historical Gooseberry silver-gold mine in Storey County, Nevada. The past-producing underground silver and gold mine operated for nearly a century between 1900 and 1990, after which mining ceased due to low precious metals prices. No meaningful modern exploration work has been done on the project since 1994. The Company owns an undivided 100% interest with no underlying royalties and previously sampled up to 18.45 g/t Au and 595 g/t Ag from the dumps and old mineralized stockpiles at Gooseberry (see press release dated June 5, 2019).

"We are very pleased to receive our drilling permit in advance of a 15-hole combination RC and diamond core drill program totaling approximately 4,000 metres," stated President, Eric Saderholm. "These holes will target lateral and down-dip extensions to some of the higher-grade mineralization that was encountered during mining. American Pacific has always been very eager to drill Gooseberry, which produced very high-grade silver and gold from active mining faces. The initial phase of drilling will target extensions to these known mineralized zones."

The Company also announces the resignation of Norm Wareham, who has served as a member of its board of directors since January 25, 2018. American Pacific’s board and management thank Mr. Wareham for his years of service and wish him success in his future endeavours.

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 / 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.


FAQ

What is the significance of the latest press release from American Pacific Mining Corp dated August 30, 2021?

The press release announces the receipt of final permits for a drill program at the Gooseberry Silver Project, which is significant for future exploration and potential resource confirmation.

What are the drill plans for American Pacific Mining at Gooseberry Silver Project?

The company plans a 15-hole combination reverse circulation and diamond drill program targeting approximately 4,000 meters.

What historical data supports the drilling at Gooseberry Silver Project?

Historical sampling has shown high-grade mineralization, with samples reaching up to 18.45 g/t Au and 595 g/t Ag.

Who resigned from the board of American Pacific Mining Corp?

Norm Wareham resigned from the board after serving since January 25, 2018.

What is the primary focus of American Pacific Mining Corp?

The company focuses on exploring precious metals opportunities in the Western United States, particularly at its Gooseberry Gold-Silver and Madison Copper-Gold projects.

AMERICAN PACIFIC MNG

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