American Pacific Mining Corp. is a base and precious metals explorer and developer focused on opportunities in the Western United States
American Pacific 2023 Diamond Drill Program. (Credit: American Pacific Mining Corp.)
American Pacific Mining Corp (CSE: USGD / OTCQX: USGDF / FWB: 1QC) (“American Pacific” or the “Company”) is pleased to report that a five (5) hole diamond drill campaign is set to commence in early Q4/2023 at the Madison Copper-Gold Project (“Madison” or the “Project”) located in Madison County, Montana.
The drill program is designed to further define near-surface, high-grade copper and gold mineralization and provide a foundation for deeper exploration in areas with limited historical drilling. In part, this 2023 program will follow up on the last partner funded campaign, which included an intersection of 14.44 grams per tonne (“g/t”) gold (“Au”) over 6.53 metres (“m”) (see January 12, 2022 news release). Drill holes have been strategically placed to accomplish multiple objectives and test numerous targets with each hole. The program aims to accomplish three key objectives: test shallow gap areas; tighten drill spacing at moderate depth within the skarn to support future mineral resource estimation; and extend below known mineralization to provide valuable information for deeper exploration in subsequent campaigns (see Figure 1 and 2).
“We are excited to begin drilling at Madison and view this drilling campaign as an opportunity to make an already strongly mineralized system more robust, while collecting valuable information in untested areas,” commented Warwick Smith, CEO of American Pacific. “The ultimate prize at Madison is the potential for a deep-rooted porphyry deposit, but we believe the shallow high-grade skarn mineralization will be an important contributor during the early years of any future mining scenario at Madison and believe it can expand significantly with further exploration work.”
Kennecott Exploration Company (“KEX”), a division of the Rio Tinto Group, has spent approximately US$6.8M at the Madison Copper-Gold Project and may earn up to 70% of the Project by spending US$30M by 2030. The focused Q4/2023 five-hole program (3,700 feet / 1,130 metres) does not incorporate multiple planned deeper drill holes that will be considered as part of 2024 drilling to test the porphyry potential at depth. American Pacific will be leading the exploration for the 2023 drill campaign with the support of KEX. The drill program is in process of being permitted and field work will commence once all permits are granted.
The Property has distinctive mineralization types throughout the Property. The stronger mineralization can be found in oxidized jasperoid, classic high-iron skarn, massive sulfide and gold/silver-rich quartz veining with typical high-level signatures and textures. Lower grade gold mineralization locally occurs in endoskarns within the proximal granodiorite intrusive rock. All of these mineralization suites are interpreted to be associated with the emplacement of numerous igneous intrusion episodes emplaced during the late Cretaceous to early Tertiary geologic periods. Mineralization styles and tenor are dependent on the rocks hosting the mineralization. The jasperoid mineralization is high level and is generally found in the dolomitic rock of the Devonian Jefferson Formation. The skarn mineralization, including the massive sulfide, can be both gold and/or copper-rich and occurs within the highly reactive limestone and shale units within the greater Madison Group of Mississippian age. The quartz vein mineralization is generally found within older Precambrian metasediments. The nature and genesis of the quartz vein mineralization is currently poorly understood and has not been sufficiently tested.American Pacific Mining Corp.
Source: Company Press Release