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.
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.
American Pacific Mining Corp (CSE: USGD / OTCQX: USGDF) has invested US $1,497,537 to maintain a 41.08% stake in the Palmer VMS project in Alaska, in partnership with Dowa Metals & Mining. CEO Warwick Smith highlighted this as a commitment to the joint venture. The Palmer project hosts an indicated mineral resource of 4.68 million tonnes at 10.21% zinc equivalent, with a preliminary economic assessment indicating a US$266 million after-tax NPV. The project is positioned for further drilling and exploration in 2023.
American Pacific Mining Corp (CSE: USGD / OTCQX: USGDF) has released updates on the Tuscarora Project after completing 33 shallow drillholes totaling 5,515 meters. Notable findings include a third potential gold zone at South Navajo, with drill hole TS22-32 intersecting 2.48 g/t gold over 13.72 meters. Additionally, Modoc South revealed 6.89 g/t gold and 29 g/t silver over 1.52 meters. The company’s president expressed optimism about the discovery of a new gold-bearing sulfide system. Future drilling is planned to further explore these promising targets in early 2023.
American Pacific Mining Corp (CSE: USGD / OTCQX: USGDF) announces significant findings from the Madison Copper-Gold Project, following a study by a skarn expert commissioned by Rio Tinto. The expert identified a notable new target area that could enhance exploration efforts in 2023.
The skarn zone is reported to be up to 130 metres thick, with a mineralized footprint measuring approximately 2,100 by 650 metres. Recommendations include systematic testing of under-explored areas to expand mineralization potential.
American Pacific Mining Corp (CSE: USGD / FWB: 1QC / OTCQX: USGDF) has successfully completed its acquisition of Constantine Metal Resources Ltd. The Arrangement follows the plan announced earlier and was approved by the Supreme Court of British Columbia. Under this deal, Constantine shareholders received 0.881 shares of APM for each share held, valuing Constantine at approximately C$0.43 per share, a 48.6% premium based on historical trading data. Post-acquisition, APM’s shares outstanding reached 176,773,938, with over 33% now held by former Constantine shareholders.
American Pacific Mining Corp (CSE: USGD / FWB: 1QC / OTCQX: USGDF) has successfully secured approval from Constantine Metal Resources Ltd. shareholders for a planned acquisition through a plan of arrangement. The resolution achieved a remarkable 98.92% approval from those present at the meeting. Under the arrangement, Constantine shareholders will receive 0.881 American Pacific shares for each share held. The acquisition remains subject to the Supreme Court of British Columbia's approval, with a hearing set for October 27, 2022, and closing anticipated around October 31, 2022.
American Pacific Mining Corp (CSE: USGD / OTCQX: USGDF) and Constantine Metal Resources Ltd. (TSXV: CEM) have announced the upcoming special meeting for a proposed acquisition. This follows the August 15 announcement regarding the purchase of all outstanding Constantine shares by American Pacific. The meeting is set for October 25, 2022, where securityholders will vote on the arrangement. Constantine shareholders will receive 0.881 shares of American Pacific for each share held. The transaction is expected to close around October 31, 2022, pending necessary approvals.
American Pacific Mining Corp. has filed its 43-101 technical report for the Madison Copper-Gold Project in Montana, in compliance with National Instrument 43-101. The report, dated September 15, 2022, was authored by a qualified geologist and is accessible on SEDAR. The company, focused on precious and base metals exploration, aims to advance this project in partnership with Kennecott Exploration Company. American Pacific also holds interests in other mining projects and has been nominated for prestigious industry awards, highlighting its growth potential.