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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 a preliminary exploration program for its Madison Copper-Gold Project in Montana. Following a successful 2021 campaign, the company is collaborating with Kennecott Exploration to build a 3-D geologic model of the area. The 2022 program will focus on gold mineralization and include an in-depth review by a skarn expert. In 2021, KEX executed a $2.7 million drilling program, yielding high-grade results, notably 14.44 g/t gold over 6.53 m in drill hole MADN0033.
American Pacific Mining Corp (CSE: USGD / OTCQX: USGDF) announced promising results from its 2021 drill program at the Gooseberry Silver Project in Nevada. The Phase I program consisted of 15 holes and 4,581 meters of drilling, with significant findings including a new vein identified close to known mineralization. Notably, drill hole GB21-09 revealed 17.5 m of 95.5 g/t silver and 0.94 g/t gold. The company is advancing to a Phase II drilling program and plans a geochemical sampling program to refine future targets.
American Pacific Mining Corp (CSE: USGD / OTCQX: USGDF) announced the commencement of trading on the OTCQX Best Market from February 25, 2022. This move signifies an upgrade from the OTCQB, aiming to enhance visibility and accessibility for U.S. investors. The OTCQX is known for its high standards, offering value and convenience to investors. CEO Warwick Smith emphasized that this upgrade will improve liquidity and shareholder value, supported by the company's strong strategic and operational framework.
American Pacific Mining Corp (CSE: USGD / OTCQB: USGDF) has announced the expansion of its Tuscarora Gold Project by staking 47 new claims covering 971 acres in Elko County, Nevada. The Company plans to initiate a CAD $5 million drilling program, consisting of up to 70 holes (17,000 meters), targeting high-grade gold. The expanded project now consists of 215 claims totaling 4,272 acres, featuring high-grade gold and silver veins. Previous drilling yielded significant intercepts, including 4.57 meters at 127.08 g/t gold. The Company aims to enhance exploration efforts in 2022.
American Pacific Mining Corp (CSE: USGD / OTCQB: USGDF) announced positive results from its 2021 drilling program at the Madison Copper-Gold Project in Montana, conducted by Kennecott Exploration Company. The drilling comprised 10 core holes totaling 3,598 meters, revealing significant high-grade intercepts. Notably, drill hole MADN0033 reported 14.44 g/t gold and 0.11% copper over 6.53 meters, with highlights including 39.57 g/t gold over 2.35 meters. The results indicate potential for further exploration and extend mineralization down plunge. The company's unique mineralization systems are promising for future development.
American Pacific Mining Corp. (CSE: USGD / OTCQB: USGDF) has successfully closed an oversubscribed non-brokered private placement, raising gross proceeds of $10,146,000. The funding was achieved through the issuance of 10,146,000 units at $1.00 per unit, each consisting of one common share and one-half of a warrant. The company intends to allocate the proceeds for exploration programs at its Gooseberry and Tuscarora projects in Nevada, along with potential acquisitions and working capital. Finder’s fees totaled $649,320 in cash and warrants.
American Pacific Mining Corp (CSE: USGD / OTCQB: USGDF) announced high-grade rock chip assay results from Kennecott Exploration's sampling program at the Madison Copper-Gold Project in Montana. The joint-venture project allows Rio Tinto to earn up to 70% by investing US $30 million. Seven samples showed significant skarn mineralization, with gold values ranging from 0.250 g/t to 124.5 g/t, averaging 21.6 g/t Au, while copper ranged from 0.006% to 0.264%, averaging 0.067%. This indicates potential for high-grade mineralization beyond previous findings.
American Pacific Mining Corp (CSE: USGD / OTCQB: USGDF) announced a private placement of up to 5,000,000 units at CAD $1.00 per unit, aiming for gross proceeds of up to CAD $5,000,000. Each unit comprises one common share and one-half warrant, allowing purchase of additional shares at $1.40 for 24 months. If shares exceed $2.00 for 10 consecutive days, warrants may expire early. The proceeds are earmarked for exploration at the Gooseberry and Tuscarora projects, potential acquisitions, and working capital.
American Pacific Mining Corp (CSE: USGD / OTCQB: USGDF) has added a second drill rig to its Gooseberry Silver Project in Nevada. This reverse circular drill will work alongside the existing core drill, enhancing the drilling program at this historic silver-gold mine. Initial drilling has reached target depths, intersecting the main Gooseberry vein 528 feet east of previous mining areas. Following this program, both rigs will be deployed to test shallow gold targets at the Tuscarora Project. The company is well-funded and anticipates assay results later this year.
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