Welcome to our dedicated page for American Pacific news (Ticker: USGDF), a resource for investors and traders seeking the latest updates and insights on American Pacific stock.
American Pacific Mining Corp. (OTCQX: USGDF) is a precious and base metals explorer and developer focused on projects in the Western United States. Its news flow reflects activity across a portfolio that includes the flagship Madison Copper-Gold Project in Montana, advanced-stage and past-producing assets in Nevada, and transaction-driven exposure to the Palmer Copper-Zinc VMS Project in Alaska.
Company news releases cover exploration updates, technical reporting and corporate transactions. For Madison, American Pacific has reported staking and amending claims around the project area, as well as drill results that highlight high-grade copper and gold mineralization. In Nevada, the company has announced an updated NI 43-101 technical report for the Gooseberry Silver-Gold Project and provided detailed drilling results from that low sulphidation epithermal vein system.
Corporate and transaction-related news includes the sale of the Palmer Project to Vizsla Copper Corp. in exchange for equity and milestone-based payments, and an arrangement agreement under which ICG Silver & Gold Ltd. will acquire the Tuscarora and Danny Boy projects in Nevada. These announcements outline consideration structures, contingent payments and the distribution of shares in partner companies to American Pacific shareholders.
Additional releases address matters such as share issuances to former employees under employment agreements and commentary on broader sector developments, including the designation of copper and barite as critical minerals in the United States and how that relates to projects like Madison and Palmer. Investors and observers can use this news page to review historical and ongoing disclosures about exploration results, technical reports, asset sales, equity positions and corporate actions involving American Pacific Mining Corp.
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American Pacific Mining Corp has announced its 2023 budget of US $25.5 million for the Palmer Project, a high-grade volcanogenic massive sulphide project in Alaska. The budget will fund a multi-purpose work program that includes a 9,000 metre resource infill drill program aimed at upgrading mineral resources, alongside geotechnical drilling, camp construction, and ongoing environmental studies. The estimated mineral resources at Palmer include 4.68 million tonnes of indicated and 5.34 million tonnes of inferred resources. Dowa Metals & Mining is set to fund the entire program, with American Pacific as the operator, receiving 7% of expenditures for management. This marks the largest program budget to date, positioning the project closer to a feasibility study.
American Pacific Mining Corp (CSE: USGD / OTCQX: USGDF) has appointed Peter Mercer as Senior Vice President, Advanced Projects. Mercer, a seasoned industry leader, will focus on advancing the Palmer VMS Project in Alaska. His expertise in mineral exploration and mine development is expected to enhance the company’s operational capabilities. Mercer previously served as Vice President at Rambler Metals and has extensive experience with VMS operations. The Palmer Project, a joint venture with Dowa Metals & Mining, has a mineral resource of 4.68 million tonnes of indicated zinc equivalent and 9.59 million tonnes of inferred zinc equivalent. A Preliminary Economic Assessment indicates a post-tax NPV of US$266 million. The company aims for growth through exploration and acquisition.
American Pacific Mining Corp (CSE: USGD / OTCQX: USGDF) has launched a Phase II drill program at the Gooseberry Silver Project in Nevada. This program will involve 15 holes over 3,048 meters (10,000 feet) to explore the Gooseberry Vein and new targets: Elderberry and Strawberry Zones, identified through 2022 geochemical and geophysical analysis. President Eric Saderholm highlighted the discovery of multiple vein showings, enhancing the project's potential. Historical exploration has been limited, focusing primarily on existing veins, but the company aims for comprehensive evaluation utilizing both traditional and modern techniques.