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American Pacific Mining Corp (CSE: USGD) (OTCQX: USGDF) (FSE: 1QC) is a precious and base metals explorer and developer focused on opportunities in the Western United States. The company owns two flagship assets: the Palmer Project, a high-grade volcanogenic massive sulphide project in Alaska under a joint venture with DOWA Metals & Mining Alaska Ltd, and the Madison Project, a copper-gold project in Montana. In 2024, American Pacific raised $4.5 million through a private placement and plans to spend up to $20 million on exploration. The Palmer Project recently submitted a Plan of Operations outlining field activities until 2028, with a focus on environmental, social, technical, and economic aspects. The company's mission is to grow through drill bit exploration, strategic partnerships, and acquisitions.
American Pacific Mining Corp (CSE: USGD / OTCQX: USGDF) announced successful work program updates for the Palmer Project in Alaska, with a total investment of US$68.7 million to date. The 2022 work program, costing US$10.4 million, included the completion of 60% of the underground access road, preparations for a 60-person camp, and a 3,546-metre drilling program. The Palmer Project hosts a National Instrument 43-101 compliant resource of 4.68 million tonnes at 10.2% zinc equivalent. The company, in partnership with Dowa, aims to finalize its 2023 budget and work plans soon.
American Pacific Mining Corp (CSE: USGD / OTCQX: USGDF) has invested US $1,497,537 to maintain a 41.08% stake in the Palmer VMS project in Alaska, in partnership with Dowa Metals & Mining. CEO Warwick Smith highlighted this as a commitment to the joint venture. The Palmer project hosts an indicated mineral resource of 4.68 million tonnes at 10.21% zinc equivalent, with a preliminary economic assessment indicating a US$266 million after-tax NPV. The project is positioned for further drilling and exploration in 2023.
American Pacific Mining Corp (CSE: USGD / OTCQX: USGDF) has released updates on the Tuscarora Project after completing 33 shallow drillholes totaling 5,515 meters. Notable findings include a third potential gold zone at South Navajo, with drill hole TS22-32 intersecting 2.48 g/t gold over 13.72 meters. Additionally, Modoc South revealed 6.89 g/t gold and 29 g/t silver over 1.52 meters. The company’s president expressed optimism about the discovery of a new gold-bearing sulfide system. Future drilling is planned to further explore these promising targets in early 2023.
American Pacific Mining Corp (CSE: USGD / OTCQX: USGDF) announces significant findings from the Madison Copper-Gold Project, following a study by a skarn expert commissioned by Rio Tinto. The expert identified a notable new target area that could enhance exploration efforts in 2023.
The skarn zone is reported to be up to 130 metres thick, with a mineralized footprint measuring approximately 2,100 by 650 metres. Recommendations include systematic testing of under-explored areas to expand mineralization potential.
American Pacific Mining Corp (CSE: USGD / FWB: 1QC / OTCQX: USGDF) has successfully completed its acquisition of Constantine Metal Resources Ltd. The Arrangement follows the plan announced earlier and was approved by the Supreme Court of British Columbia. Under this deal, Constantine shareholders received 0.881 shares of APM for each share held, valuing Constantine at approximately C$0.43 per share, a 48.6% premium based on historical trading data. Post-acquisition, APM’s shares outstanding reached 176,773,938, with over 33% now held by former Constantine shareholders.
American Pacific Mining Corp (CSE: USGD / FWB: 1QC / OTCQX: USGDF) has successfully secured approval from Constantine Metal Resources Ltd. shareholders for a planned acquisition through a plan of arrangement. The resolution achieved a remarkable 98.92% approval from those present at the meeting. Under the arrangement, Constantine shareholders will receive 0.881 American Pacific shares for each share held. The acquisition remains subject to the Supreme Court of British Columbia's approval, with a hearing set for October 27, 2022, and closing anticipated around October 31, 2022.
American Pacific Mining Corp (CSE: USGD / OTCQX: USGDF) and Constantine Metal Resources Ltd. (TSXV: CEM) have announced the upcoming special meeting for a proposed acquisition. This follows the August 15 announcement regarding the purchase of all outstanding Constantine shares by American Pacific. The meeting is set for October 25, 2022, where securityholders will vote on the arrangement. Constantine shareholders will receive 0.881 shares of American Pacific for each share held. The transaction is expected to close around October 31, 2022, pending necessary approvals.
American Pacific Mining Corp. has filed its 43-101 technical report for the Madison Copper-Gold Project in Montana, in compliance with National Instrument 43-101. The report, dated September 15, 2022, was authored by a qualified geologist and is accessible on SEDAR. The company, focused on precious and base metals exploration, aims to advance this project in partnership with Kennecott Exploration Company. American Pacific also holds interests in other mining projects and has been nominated for prestigious industry awards, highlighting its growth potential.
American Pacific Mining Corp. (CSE: USGD / OTCQX: USGDF) has filed a 43-101 technical report for its Gooseberry Silver Project in Nevada. The report was prepared by a qualified expert and is accessible on their website. Additionally, the Bureau of Land Management approved a Phase II drilling program, consisting of eleven planned holes set to commence in fall/winter 2022. American Pacific is optimistic about new targets at Gooseberry, which may include extensions of existing mineral veins and new exploration sites.
American Pacific Mining Corp. (CSE: USGD / OTCQX: USGDF) has appointed Mr. Josh Carron as Vice President of Exploration, strengthening its leadership team. With over twenty years in gold exploration, particularly in Nevada, Carron will focus on evaluating new projects acquired from the Constantine Metal Resources transaction. His extensive experience includes managing successful exploration programs and advanced geological modeling. The company also boasts a diverse portfolio, including the Madison Copper-Gold project and the Gooseberry Silver-Gold Project, and has received accolades such as a finalist for 'Deal of the Year.'
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