American Pacific Provides Update on Drill Programs at its Madison and Palmer Projects
American Pacific Mining Corp (CSE: USGD) (OTCQX: USGDF) has provided an update on two ongoing drill programs at its Madison Copper-Gold Project in Montana and Palmer Copper-Zinc VMS Project in Alaska. The Madison program was expanded from 5 to 7 holes, completing 3,452 feet of drilling. Native copper was observed in several drill holes, with results expected in Q3 2024. At Palmer, 9 out of 14 planned holes have been completed as part of a CAD $17.5 million exploration budget for 2024.
The Palmer project builds on last year's success, which included the four most significant copper intercepts ever drilled at the site. The company aims to expand on the current mineral resource estimate of 4,677 tonnes at 3.92% CuEq (Indicated) and 9,594 tonnes at 3.40% CuEq (Inferred). American Pacific reports a strong balance sheet with CAD $6.17 million as of April 2024, fully funding both drill programs.
American Pacific Mining Corp (CSE: USGD) (OTCQX: USGDF) ha fornito un aggiornamento su due programmi di perforazione in corso presso il suo Madison Copper-Gold Project nel Montana e il Palmer Copper-Zinc VMS Project in Alaska. Il programma di Madison è stato ampliato da 5 a 7 perforazioni, completando 3.452 piedi di perforazione. Rame nativo è stato osservato in diversi fori di perforazione, con risultati previsti nel terzo trimestre del 2024. A Palmer, 9 su 14 fori programmati sono stati completati come parte di un budget di esplorazione di CAD $17,5 milioni per il 2024.
Il progetto Palmer si basa sul successo dell'anno scorso, che ha incluso i quattro più significativi intercettamenti di rame mai perforati nel sito. L'azienda punta ad ampliare l'attuale stima delle risorse minerali di 4.677 tonnellate a 3,92% CuEq (Indicate) e 9.594 tonnellate a 3,40% CuEq (Inferred). American Pacific riporta un solido bilancio con CAD $6,17 milioni ad aprile 2024, finanziando completamente entrambi i programmi di perforazione.
American Pacific Mining Corp (CSE: USGD) (OTCQX: USGDF) ha proporcionado una actualización sobre dos programas de perforación en curso en su Madison Copper-Gold Project en Montana y el Palmer Copper-Zinc VMS Project en Alaska. El programa de Madison se amplió de 5 a 7 hoyos, completando 3,452 pies de perforación. Se observó cobre nativo en varios hoyos, con resultados esperados para el tercer trimestre de 2024. En Palmer, se han completado 9 de los 14 hoyos planificados como parte de un presupuesto de exploración de CAD $17.5 millones para 2024.
El proyecto Palmer se basa en el éxito del año pasado, que incluyó los cuatro interceptos de cobre más significativos jamás perforados en el sitio. La empresa tiene como objetivo ampliar la estimación actual de recursos minerales de 4,677 toneladas a 3.92% CuEq (Indicated) y 9,594 toneladas a 3.40% CuEq (Inferred). American Pacific informa de un sólido balance financiero con CAD $6.17 millones a abril de 2024, financiando completamente ambos programas de perforación.
아메리칸 태평양 마이닝 Corp (CSE: USGD) (OTCQX: USGDF)는 몬태나의 매디슨 구리-금 프로젝트와 알래스카의 팔머 구리-아연 VMS 프로젝트에서 진행 중인 두 가지 시추 프로그램에 대한 업데이트를 제공했습니다. 매디슨 프로그램은 5개에서 7개 홀로 확장되어 총 3,452피트의 시추를 완료했습니다. 여러 시추 홀에서 본연의 구리가 관찰되었으며, 결과는 2024년 3분기에 예상됩니다. 팔머에서는 계획된 14개 홀 중 9개가 2024년을 위한 CAD $17.5 백만의 탐사 예산의 일환으로 완료되었습니다.
팔머 프로젝트는 작년의 성공을 기반으로 하며, 이곳에서 시추된 네 개의 가장 중요한 구리 인터셉트가 포함되었습니다. 회사는 4,677톤(3.92% CuEq (Indicated)) 및 9,594톤(3.40% CuEq (Inferred))의 현재 광물 자원 추정을 확대할 계획입니다. 아메리칸 태평양은 2024년 4월 기준으로 CAD $6.17 백만의 견고한 재무 상태를 보고하며, 두 시추 프로그램을 완전히 자금을 마련했습니다.
American Pacific Mining Corp (CSE: USGD) (OTCQX: USGDF) a fourni une mise à jour sur deux programmes de forage en cours à son Madison Copper-Gold Project dans le Montana et au Palmer Copper-Zinc VMS Project en Alaska. Le programme de Madison a été élargi de 5 à 7 trous, avec un total de 3 452 pieds de forage effectués. Du cuivre natif a été observé dans plusieurs trous de forage, avec des résultats attendus au troisième trimestre 2024. Au Palmer, 9 des 14 trous prévus ont été complétés dans le cadre d'un budget d'exploration de 17,5 millions CAD pour 2024.
Le projet Palmer s'appuie sur le succès de l'année précédente, qui comprenait les quatre interceptions de cuivre les plus significatives jamais réalisées sur le site. L'entreprise vise à étendre l'estimation actuelle des ressources minérales de 4 677 tonnes à 3,92% CuEq (Indicated) et de 9 594 tonnes à 3,40% CuEq (Inferred). American Pacific rapporte un bilan solide avec 6,17 millions CAD en avril 2024, finançant entièrement les deux programmes de forage.
American Pacific Mining Corp (CSE: USGD) (OTCQX: USGDF) hat ein Update zu zwei laufenden Bohrprogrammen an seinem Madison Copper-Gold Project in Montana und dem Palmer Copper-Zinc VMS Project in Alaska gegeben. Das Madison-Programm wurde von 5 auf 7 Bohrungen erweitert und umfasst 3.452 Fuß Bohrungen. In mehreren Bohrlöchern wurde natives Kupfer beobachtet, die Ergebnisse werden im 3. Quartal 2024 erwartet. Am Palmer-Projekt wurden 9 von 14 geplanten Bohrlöchern im Rahmen eines Explorationsbudgets von CAD $17,5 Millionen für 2024 abgeschlossen.
Das Palmer-Projekt baut auf dem Erfolg des letzten Jahres auf, zu dem die vier bedeutendsten Kupferinterzeptionen zählen, die jemals an diesem Standort gebohrt wurden. Das Unternehmen plant, die aktuelle Schätzung der mineralischen Ressourcen von 4.677 Tonnen bei 3,92% CuEq (Indicated) und 9.594 Tonnen bei 3,40% CuEq (Inferred) zu erweitern. American Pacific berichtet von einer soliden Bilanz mit CAD $6,17 Millionen Stand April 2024, die beide Bohrprogramme vollständig finanziert.
- Expansion of Madison drill program from 5 to 7 holes based on positive visual observations
- Observation of native copper in several drill holes at Madison
- Completion of 9 out of 14 planned holes at Palmer as part of a CAD $17.5 million exploration budget
- Strong balance sheet with CAD $6.17 million as of April 2024, fully funding both drill programs
- None.
Vancouver, British Columbia--(Newsfile Corp. - July 30, 2024) - American Pacific Mining Corp (CSE: USGD) (OTCQX: USGDF) (FSE: 1QC1) ("American Pacific" or "the Company") is pleased to provide a progress update for two drill programs occurring at its Madison Copper-Gold Project ("Madison") in Montana and its Palmer Copper-Zinc VMS Project ("Palmer") in Alaska.
Madison Update
The Madison drill program was expanded from five (5) to seven (7) holes based on positive visual observations and real-time modeling updates that supported additional drill holes. A total of 3,452 feet (1,050 metres) were drilled and the Phase I program at Madison is now complete. Phase I drilling focused on near-mine extensions and areas where historical drilling successes*, including 14.69 metres ("m") of 12.10 grams per tonne ("g/t") gold ("Au") and further downhole 61.63 m of
Native copper was observed in several drill holes (see Image 1) and the Company has completed detailed logging of lithology to enhance modeling to guide Phase II drilling with a view towards stepping out, drilling deeper and expanding the mineralized footprint well beyond the historical mine site area. Results from Phase I will be released beginning in Q3, 2024 once received and interpreted.
"We are thrilled to have drill programs occurring at two very high-grade western US copper and gold projects this summer, which will lead us into a catalyst-rich Q3 and Q4 this year as results are released," commented CEO Warwick Smith. "This has been one of our most active summer seasons of drilling ever for American Pacific and we are well positioned for growth with a healthy treasury, positive trends in the gold and copper markets and drill results we believe will further demonstrate the grade profiles and exploration upside at our flagship projects."
The next phase of drilling at Madison will follow up on successes from Phase I drilling, as well as on deeper regional targets within the western portion of the property where surface samples of up to 48.5 g/t Au are suggestive of a buried intrusive heat source.
Image 1. Native copper encountered during Phase I drilling at Madison
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10322/218120_2083be0184ef7b88_001full.jpg
Palmer Update
Drilling is well underway at Palmer with nine (9) holes of a fourteen (14) hole program completed to-date. The drill program is part of a planned CAD
The Palmer Deposits have demonstrated potential for significant mineralization beyond the current Indicated mineral resource estimate of 4,677 tonnes of
Image 2. Diamond Drill at Palmer
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https://images.newsfilecorp.com/files/10322/218120_2083be0184ef7b88_002full.jpg
The two programs are fully-funded with American Pacific having a strong balance sheet (
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 project. The Company's mission is to grow by drill bit and by acquisition.
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
Notes:
*Full disclosure for the Madison Project can be found in the Company's NI 43-101 Technical Report HERE, or at americanpacificmining.com.
**Full disclosure for the Palmer Project can be found in our NI 43-101 Technical Report HERE or at 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/218120
FAQ
What is the current status of American Pacific's Madison Copper-Gold Project drilling program?
How many drill holes have been completed at the Palmer Copper-Zinc VMS Project in Alaska?
What is the exploration budget for American Pacific's Palmer project in 2024?
What is the current mineral resource estimate for the Palmer Deposits?
