American Pacific Mining Corp (CSE: USGD / FWB: 1QC / OTCPK:
USGDF) (“American Pacific” or the “Company”) is pleased to
announce results from the 2019 drilling program conducted by
Kennecott Exploration Company on the recently acquired 100%-owned
Madison copper-gold project, USA (“
Madison
Project”). The Madison Project encompasses a historical
mining district and past producer in western Montana. The Madison
Project is currently under an earn-in, joint venture agreement,
whereby Kennecott Exploration Company, part of the Rio Tinto Group
may spend $30 million USD to earn up to 70% (see news release dated
June 6, 2020).
“High-grade, skarn-related massive sulfide
mineralization at Madison has been extended 112 meters down-plunge
in Hole MADN0012, 108 meters laterally in Hole MADN0010 and 43
meters down-dip in Hole MADN0011 as a direct result of the 2019
drilling results” states Eric Saderholm, Company President.
“Historical drilling has produced some very high-grade skarn
intercepts in the past, including 30.18 meters at 24.50 g/t Au in
Hole UG17-05 and 61.63 meters at 6.97% Cu in Hole C05-06 and strong
mineralization potential is open both down-dip and lateral to the
existing drilling and modeled mineralization. All new drill sites
are now completed for the 2020 Madison drilling campaign. Our new
joint venture partners, Rio Tinto, have developed an exploration
program to test extensions and offsets to the skarn-related
mineralization. American Pacific is pleased to be a part of these
endeavors.”
The 2019 drill program consisted of fourteen
diamond drill holes totaling 4,013.93 m. Drill holes MADN0001 to
MADN0006 targeted Porphyry style mineralization and drill holes
MADN0007 to MADN0014 targeted the down dip and easterly strike
extension to the known Madison Skarn mineralization.
2019 Highlighted drill results include
(see Table 1 below for full results):
- MADN0010: cut 1.16 g/t Au over 74m (including 0.18% Cu and
17.71 g/t Au over 3.46m)
- MADN0011: cut 1.42 g/t Au, 2.41% Cu and 44.50 g/t Ag over
2.54m
- MADN0013: cut 2.60 g/t Au and 0.20% Cu over 9.22m
MADN0010 and MADN0011 both intersected
high-grade mineralization associated with alteration associated
with skarn related sulfides dominated by pyrrhotite and pyrite in
the limestone and dolomite host rocks within the upper Devonian
Jefferson Formation, a noted ore host time-horizon throughout the
western USA.
Click the following link to view the latest drill
results and highlighted historical results in 3D:
https://americanpacific.ca/projects/madison/madison-mine-3d-model/
Table 1: 2019 Significant Drill Results
from the Madison Project
HOLE ID |
FROM(m) |
TO(m) |
Interval(m) |
Ag (g/t) |
Au (g/t) |
Cu (%) |
MADN0001 |
256.86 |
258.86 |
2 |
7.88 |
0.04 |
0.50 |
MADN0004 |
84.17 |
85.28 |
1.11 |
0.17 |
1.04 |
0.02 |
MADN0004 |
349 |
352 |
3 |
0.08 |
1.25 |
0.00 |
MADN0007 |
83.5 |
85.82 |
2.32 |
2.19 |
1.06 |
0.76 |
MADN0009 |
123.06 |
129 |
5.94 |
2.01 |
0.4 |
0.01 |
MADN0010 |
151.61 |
226 |
74.39 |
2.12 |
1.16 |
0.06 |
Includes |
151.61 |
179.98 |
28.37 |
4.01 |
2.27 |
0.10 |
Or |
151.61 |
155.07 |
3.46 |
4.43 |
17.71 |
0.18 |
And |
208.00 |
226.00 |
18.00 |
1.85 |
1.06 |
0.07 |
MADN0011 |
182.00 |
184.54 |
2.54 |
44.5 |
1.42 |
2.41 |
MADN0011 |
203.00 |
204.23 |
1.23 |
0.58 |
1.59 |
0.01 |
MADN0012 |
139.00 |
142.00 |
3.00 |
1.36 |
1.72 |
0.02 |
MADN0013 |
201.00 |
210.22 |
9.22 |
6.8 |
2.60 |
0.20 |
MADN0014 |
183.00 |
186.00 |
3.00 |
1.16 |
0.91 |
0.12 |
- g/t = grams per metric tonne
- m = meters
- Interval lengths are reported as downhole lengths. True width
of mineralization has not been determined.
Drill holes MADN0002, MADN0003, MADN0005,
MADN0006, MADN0008 did not return significant assay values and have
been omitted from Table 1.
Table 2: Historical Drill Highlights
from the Madison Project
Hole_ID |
Thickness (m) |
Au_g/t |
Cu% |
UG17-05 |
30.18 |
24.497 |
0.39 |
UG17-06 |
10.97 |
41.65 |
0.38 |
UG17-06 including |
4.60 |
82.87 |
Not significant |
86-6 |
7.31 |
25.75 |
Not significant |
C05-06 |
14.69 |
12.10 |
Not significant |
C05-06 |
61.63 |
Not significant |
6.97 |
C05-06 including |
8.47 |
Not significant |
40.03 |
C06-08 |
84.70 |
Not significant |
1.89 |
C06-08 |
2.70 |
41.73 |
19.58 |
For context and additional historic drilling
results, please consult the technical report for the Madison
Project dated effective February 22, 2019, which was prepared in
accordance with National Instrument 43-101 - Standards for
Disclosure for Mineral Projects which is available on the Company’s
website.
https://americanpacific.ca/site/assets/files/3775/2019-03-04_brd_ni_43-101_report.pdf
Previous Drilling by Broadway Gold Mining
Ltd.
Notable drill intercepts from MADN0010 are
considered a significant step-out from high grade underground
drilling reported in Press Release dated June 15, 2017 by Broadway
Gold Mining Ltd. (“Broadway Gold”). The results
from this program include:
- 1.098% Cu and 1.651 grams per tonne Au (g/t) over 24.30 meters
in hole UG17-04
- 2.717% Cu and 2.466 grams per tonne Au (g/t) over 7.32 meters
in hole UG17-04
- 0.391% Cu and 24.497 grams per tonne Au (g/t) over 30.18 meters
in hole UG17-05
- 0.276% Cu and 68.608 grams per tonne Au (g/t) over 4.57 meters
in hole UG17-05
- 0.384% Cu and 41.648 grams per tonne Au (g/t) over 10.97 meters
in hole UG17-06
Interval length reported by Broadway Gold are
reported as drilling length. True width of mineralization has not
been determined.
Underground drilling defined a 30.00 m by 16.50
m ovoid sulfide body immediately beneath the 600 level. Drill hole
results suggest that gold and copper mineralization continues to
depth below the 600 level as shown in the accompanying drill plan
(see
also http://broadwaymining.com/projects/current-exploration/).
Since the existing underground infrastructure
does not allow for deeper drilling from within the mine workings,
surface hole C17-20 was drilled to test the down dip extension of
the mineralized ovoid body a further 40 meters below the 600 level.
This hole intersected massive sulfides parallel to the short axis
of the sulfide body, which indicates that the body remains open to
depth. Drill hole C17-20 intercepted 23.8 meters of 1.247 g/t Au
and 1.843% Cu from a depth of 130.8 to 154.6 meters, including 3.7
meters of 2.156 g/t Au and 3.214% Cu from a depth 146.3 to 150.0
meters.
The results from these three underground holes
and two previously released holes suggest a zoning within the
sulfide body. The southern section appears to contain a more
gold-rich zone while the northern section appears to contain a more
copper-rich zone. The last sample in Hole U17-04 ran 8.27 g/t Au
suggesting mineralization extends past the end of the hole. Gold
and copper mineralization extended above and below the massive
sulfide into the epidote-garnet-diopside skarn and intrusive.
Mineralization within the massive sulfide is
described as 1% to 80% pyrite, 0% to 20% pyrrhotite, 0% to 5%
chalcocite, 0% to 5% chalcopyrite and 0% to 5% bornite.
Mineralization within the epidote-diopside-garnet skarn and Radar
Creek intrusive is described as local chalcocite, native copper and
copper oxides.
Sampling, Laboratory and Quality
Assurance/Quality Control Program
All drill core was logged and photographed prior
to sample selection. Selected sample intervals honor lithological
and visible sulfide boundaries and split in half along the core
axis with a diamond saw. Half-core samples were submitted to ALS
Laboratories in Elko, Nevada, USA (17025 accredited), for
preparation and analysis. Drill core samples were analyzed for 48
elements by four-acid digestion of a 0.25-gram sample followed by
an ICP-MS (inductively coupled plasma mass spectroscopy) finish.
Gold (Au) was also analyzed by fire assay of a 30-gram sample
followed by an ICP-AES (inductively coupled plasma atomic emission
spectroscopy) finish.
As part of the Rio Tinto Exploration quality
assurance/quality control (QA/QC) program, independently certified
control samples (standard and blank pulp samples), coarse blank
samples and core duplicate samples were inserted into the sample
stream in each analytical batch. The control sample results are
monitored to ensure proper QA/QC.
Table 3: 2019 Drill Hole Locations,
Madison Project
Hole ID |
East(m) |
North(m) |
Elevation(m) |
Depth(m) |
Azimuth(°) |
Dip(°) |
MADN0001 |
398,160.12 |
5,059,978.25 |
1501.95 |
470.91 |
37.21 |
-75.10 |
MADN0002 |
396,014.83 |
5,059,796.87 |
1814.23 |
532.18 |
120.00 |
-80.00 |
MADN0003 |
396,292.58 |
5,061,179.66 |
1732.00 |
500.00 |
304.81 |
-80.60 |
MADN0004 |
396,292.58 |
5,061,178.45 |
1732.00 |
403.40 |
304.81 |
-80.60 |
MADN0005 |
396,915.75 |
5,061,036.24 |
1685.96 |
467.86 |
59.01 |
-80.60 |
MADN0006 |
398,427.16 |
5,060,298.31 |
1531.78 |
527.30 |
327.81 |
-64.60 |
MADN0007 |
397,623.74 |
5,061,117.79 |
1615.14 |
117.50 |
26.31 |
-55.60 |
MADN0008 |
397,623.32 |
5,061,117.79 |
1615.14 |
162.15 |
26.11 |
-79.10 |
MADN0009 |
397,623.32 |
5,061,117.79 |
1615.14 |
151.09 |
229.31 |
-81.30 |
MADN0010 |
397,527.77 |
5,061,126.32 |
1612.93 |
254.51 |
32.81 |
-53.50 |
MADN0011 |
397,527.77 |
5,061,126.32 |
1612.93 |
218.69 |
32.91 |
-43.90 |
MADN0012 |
397,527.77 |
5,061,126.32 |
1612.93 |
181.66 |
31.01 |
-64.50 |
MADN0013 |
397,527.77 |
5,061,126.32 |
1612.93 |
272.18 |
12.11 |
-59.40 |
MADN0014 |
397,527.77 |
5,061,126.32 |
1612.93 |
207.26 |
49.51 |
-55.30 |
- Projection: UTM Nad83 Zone 12
Qualified Person
Technical aspects of this press release have
been reviewed and approved by Eric Saderholm, P.Geo., the
designated Qualified Person (QP) under National Instrument
43-101.
About American Pacific Mining
Corp.
American Pacific Mining Corp. is a gold explorer
focused on precious metal opportunities in the Western United
States. The Madison Mine in Montana under option to joint venture
with Kennecott Exploration Company is our flagship asset. The
Gooseberry Gold/Silver Project and the Tuscarora Gold Project are
two high-grade, precious metal projects located in key mining
districts of Nevada USA. The Company’s mission is to grow by the
drill bit and by acquisition.
On Behalf of the Board of American Pacific
Mining Corp.
"Warwick Smith" CEO & Director
Corporate Office: Suite 910 – 510 Burrard Street Vancouver, BC,
V6C 3A8 Canada Contact: Kristina Pillon, President, High Tide
Consulting Corp., 604.908.1695
/ Kristina@americanpacific.ca
The CSE has neither approved nor disapproved the
contents of this news release. Neither the CSE nor its Regulation
Services Provider (as that term is defined in the policies of the
CSE) accepts responsibility for the adequacy or accuracy of this
release.
A photo accompanying this announcement is available
at
https://www.globenewswire.com/NewsRoom/AttachmentNg/5fb3361f-592d-49f7-b07f-b5fd1bce8788
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