The property was staked for a total of USD$20,000 and includes 42 unpatented claims encompassing the prospective 708 acre property.

American Pacific acquires through staking the historic Gooseberry Mine in Storey Nevada

At a cost of USD$20,000, the gold and silver project includes 42 unpatented claims, totaling approximately 708 acres

Next steps include data review, sampling and eventual drilling

Eric Saderholm, APM’s President, commented: “The Gooseberry Project is a low sulphidation, epithermal system with high-grade gold and silver mineralization hosted in quartz carbonate veins. The project was intermittently productive over the last century, and it’s our belief that there is a lot of exploration potential remaining over the project area. When the last operators were mining at Gooseberry, gold was only $353 dollars per ounce, so little exploration was taking place. I look forward to reviewing the historic data and starting the 2019 sampling programs as soon as possible.”

“Gooseberry fits the American Pacific model of cost-effective acquisitions in the Western USA with a focus on high-grade precious metal properties,” said Warwick Smith, APM’s CEO. “OceanaGold is now earning-in at our Tuscarora project and has committed to spending USD$650,000 over the next 12 months — combine this with the acquisition of a previous gold producer, the Company should have an exciting year ahead.”

Sporadic hard rock gold and silver mining took place at Gooseberry Mine between 1906-1991, with little to no exploration occurring beneath the lower levels of the underground mine. The Ramsey district, where the project is located, also remains under-explored compared to many other areas of Nevada. Infrastructure includes power to the area, main highways and some roads through the project which may need minor rehabilitation.

Source: Company Press Release.