American Pacific Reports up to 80.6 g/t Gold, 5.2% Copper and 136 g/t Silver from the 2024 Field Program at its Madison Project
Rhea-AI Summary
American Pacific Mining has reported final assays from their 2024 field season at the Madison Project, revealing significant mineral concentrations from 88 rock samples and 141 soil samples. Notable findings include gold grades up to 80.6 g/t, copper grades up to 5.2%, and silver grades up to 136 g/t. The field mapping has extended the mineralized footprint by 2.5 kilometres southeast and 2 kilometres west. The company has identified 5 additional target areas and completed radiometric survey interpretation to assist future drill targeting. A Phase II, 3,000-metre drilling program is scheduled to begin in Q1 2025, pending permits.
Positive
- High-grade mineral findings: gold up to 80.6 g/t, copper up to 5.2%, and silver up to 136 g/t
- Mineralized footprint extended by 2.5km southeast and 2km west
- Identification of 5 new target areas for drilling
- Fully-funded Phase II drill program scheduled for Q1 2025
Negative
- Surface samples may not represent underlying values
News Market Reaction 1 Alert
On the day this news was published, USGDF declined 4.50%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Vancouver, British Columbia--(Newsfile Corp. - November 27, 2024) - American Pacific Mining Corp. (CSE: USGD) (FSE: 1QC) (OTCQX: USGDF) ("American Pacific" or the "Company") is pleased to report that it has received the final assays from 88 rock samples and 141 soil samples collected during the 2024 field season. The Company also completed a radiometric survey interpretation to assist future drill targeting for a 3,000-metre, Phase II program scheduled to begin in Q1, 2025.
Field Program Highlights
A total of 88 rock samples and 141 soil and silt samples were collected during the summer of 2024
Gold grades of up to 80.6, 38.48 and 19.85 grams per tonne (g/t) were assayed in surface rock samples (see Table 1 and Figure 1)
Copper grades of up to
5.2% and3.3% were assayed in surface rock samples (see Table 1 and Figure 2)Radiometric surveys highlight thorium, potassium and uranium, which can be porphyry system indicators (see Figure 1 with 2024 gold/silver sample locations)
The Phase II, 3000-metre drilling program has been finalized and is the permitting process (see Figure 3 for planned hole locations)
Disclaimer: Surface samples, by their nature, are selective and may not represent underlying values.
"We are encouraged by the field work results that followed up on our 2024 drilling program. The field mapping and rock sampling have extended the mineralized footprint 2.5 kilometres southeast and 2 kilometres west. The data collected presents us with 5 additional target areas that have not historically been drill tested but have now been included in the fully-funded Phase II drill program beginning Q1, 2025," commented Managing Director of Exploration, Eric Saderholm. "The higher-grade silver values were unexpected and clearly add to the potential value of the Madison Property. Our use of radiometric surveys is somewhat unique in exploring for porphyry systems and will help us pinpoint drill targets in 2025. Further refinement of the magnetic data will be completed in December to maximize the potential for new property-wide discoveries."
Table 1: Select Notable Gold, Copper and Silver Rock Samples
Note: Sample coordinates are in WGS84 UTM
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Figure 1. Composite potassium/thorium radiometrics with 2024 gold/silver rock samples and emerging targets
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Figure 2. Magnetic survey base map with emerging regional Phase II target areas
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Figure 3. Current Au/Cu block model with Phase II planned drill hole traces (blocks are not indicative of NI 43-101 compliant resource)
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Madison Project Sampling and Analysis Quality Assurance and Quality Control Statement
American Pacific is committed to maintaining high standards of accuracy and
reliability in our sampling and analysis procedures. The following Quality Assurance and Quality Control (QAQC) measures are employed in our sampling and analysis processes.
Analytical Methods for the project include:
Paragon Labs
50AR-MS: Multi-element analysis (50 elements) using Aqua Regia digestion with ICP-MS for trace elements.
AUAG-GR30: Gold and silver analysis via 30g fire assay with gravimetric finish for high-precision results.
Au-FA30: Gold determination using fire assay with Aqua Regia digestion and spectroscopy for detailed concentration measurement.
OLAR-OES: Over-limit Aqua Regia digestion ensures accurate results for high-concentration samples.
ALS Global
Ag-OG62: Silver analysis with Four-Acid digestion for ore-grade concentrations.
ME-OG62: Comprehensive ore-grade element profiling using ICP-AES.
Cu-OG62: Copper-focused analysis tailored for economic studies.
Pb-OG62: Lead quantification for precise ore-grade mapping.
ME-GRA21: High-precision gold and silver determination using fire assay with gravimetric finish.
About the Madison Copper-Gold Project
The Madison Project was host to small-scale production that concluded in 2012, with 2.7 million pounds of copper produced at grades ranging from 20
Qualified Person Statement
Technical aspects of this press release have been reviewed and approved by the designated Qualified Person under National Instrument 43-101, Eric Saderholm, P.Geo., Managing Director of Exploration for American Pacific.
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:
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
Full disclosure can be found in our NI 43-101 Technical Report for the Palmer Project at www.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/231547
FAQ
What were the highest mineral grades found in American Pacific's Madison Project (USGDF) 2024 field program?
When is American Pacific Mining (USGDF) planning to start its Phase II drilling program at Madison?
How much has the mineralized footprint expanded at American Pacific's (USGDF) Madison Project in 2024?
