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. 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.
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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.
American Pacific Mining Corp (CSE: USGD / OTCQX: USGDF) has announced updated drill plans for 2023, focusing on the Gooseberry Project in Nevada. The program includes 15 drill holes totaling approximately 3,048 meters (10,000 feet) aimed at testing new targets identified through 2022 soil geochemistry and CSAMT geophysics. The company collected 2,889 soil samples for gold and silver analysis, confirming promising anomalies. Eric Saderholm, President, highlighted the correlation between silver anomalies and CSAMT data, indicating potential for new exploration areas. The 2023 program is now fully permitted.
American Pacific Mining Corp (CSE: USGD / OTCQX: USGDF) announced high-grade gold and copper rock chip sampling results from the Madison Copper-Gold Project in Montana, conducted by Kennecott Exploration, a Rio Tinto Group division. Significant results include samples with gold values up to 32.40 g/t Au and copper up to 6.90%. The exploration targets cover an 11 square kilometer area, with potential linked to the Silver Star Fault, which connects to Butte porphyry deposits. The company engaged Petergrandich.com/blog for marketing services for US$60,000 over six months.
American Pacific Mining Corp (CSE: USGD / OTCQX: USGDF) announced successful work program updates for the Palmer Project in Alaska, with a total investment of US$68.7 million to date. The 2022 work program, costing US$10.4 million, included the completion of 60% of the underground access road, preparations for a 60-person camp, and a 3,546-metre drilling program. The Palmer Project hosts a National Instrument 43-101 compliant resource of 4.68 million tonnes at 10.2% zinc equivalent. The company, in partnership with Dowa, aims to finalize its 2023 budget and work plans soon.