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American Pacific Mining Corp. reports exploration and corporate updates for its mineral project portfolio, including the Madison Copper-Gold Project in Montana and the Ziggurat Gold Project in Nevada. Company news commonly covers drill planning, underground sampling, assay results, geological modeling, field reconnaissance, and surface geochemical work tied to copper and gold targets.
Updates also include operating and financial results, capital-structure matters, and portfolio activity involving mineral assets and equity positions. Madison disclosures focus on copper-gold mineralization, skarn and porphyry target concepts, and underground workings, while Ziggurat updates describe gold exploration in Nevada and prospective Carlin-type mineralization.
American Pacific Mining Corp (CSE: USGD / OTCQB: USGDF) announced significant findings from rock sample geochemistry at its Madison Copper Gold Project in Montana. The results compile historic data from Kennecott Exploration and Broadway Gold, revealing broad occurrences of high-grade gold and copper mineralization. Kennecott may invest $30 million to earn 70% of the project, and drilling activities are currently underway. Eric Saderholm, President of American Pacific, emphasized the dataset's potential for accelerating exploration activities.
American Pacific Mining Corp has closed a non-brokered private placement, issuing 8,181,964 units at CAD$0.125 each, raising total gross proceeds of $1,022,746. Investor Michael Gentile now holds 19.99% of the company’s shares. The funds will be allocated to the exploration of resource properties and general working capital. Following the placement, the company reported having over $3.4 million in cash and received $1.47 million from warrant exercises. 22,343,735 warrants remain outstanding, which could generate an additional $4.7 million if fully exercised.
American Pacific Mining Corp (CSE: USGD / FWB: 1QC / OTCQB: USGDF) has initiated the drilling phase at its Madison Copper Gold Project in Montana, USA, as part of a joint venture with Rio Tinto Group's Kennecott Exploration. The first diamond core drill has arrived, with plans for up to 4,000 meters of drilling targeting areas identified through geophysical surveys and historic data. Additionally, the company has granted 1,800,000 stock options at an exercise price of $0.27, effective for five years.
American Pacific Mining Corp. (CSE: USGD / OTCQB: USGDF) announced a private placement to raise up to CAD$1,022,746 by issuing 8,181,964 units at CAD$0.125 each. The strategic investor, Michael Gentile, will acquire 19.99% of the company’s shares post-transaction. The funds will support exploration at various projects, including the Madison Project, which has shown promising high-grade results. This joint venture with Kennecott is expected to advance the project without shareholder dilution.
American Pacific Mining Corp (CSE: USGD / FWB: 1QC / OTCQB: USGDF) has announced the termination of its earn-in option for the Tuscarora Gold Project following the passing of CEO Bob Baxter of Soldera Mining Corp, which has chosen to pursue other business directions. To date, Soldera has incurred expenses totaling approximately CDN$316,196 and USD$4,000 related to the project. American Pacific is now actively seeking a new partner to further develop the Tuscarora Gold Project.
American Pacific Mining Corp. (CSE:USGD, OTCQB:USGDF) announced its 2021 exploration program for the Madison Copper Gold Project in Montana. Under a joint venture agreement, Kennecott Exploration, a Rio Tinto subsidiary, may invest $30 million to earn a 70% interest. The exploration will focus on drilling and sampling to extend mineralization zones and assess gold potential. Plans include up to 31 diamond drill holes and 50 reverse circulation holes. The program aims to further define existing mineralization and discover new resources.
American Pacific Mining Corp (CSE: USGD / OTCQB: USGDF) has appointed Alnesh Mohan as its new CFO and Corporate Secretary, effective immediately. This comes after the resignation of Norman Wareham. Mohan brings over 20 years of finance experience, having been a partner at Quantum Advisory Partners LLP since 2005, and has expertise in financial reporting and corporate governance. Wareham will remain on the board and assist with daily accounting duties. The company focuses on gold exploration, with flagship assets in Montana and Nevada.
American Pacific Mining Corp (CSE: USGD / FWB: 1QC / OTCPK: USGDF) has completed a significant milestone by making the final payment of $150,000 CDN to Novo Resources Corp., resulting in 100% ownership of the Tuscarora Gold Project in Nevada. The project is located in a prime gold district, positioned favorably near other major deposits. This acquisition follows the company’s prior joint venture agreement concerning the project, indicating a strategic move to bolster its holdings in the precious metals sector.