Arcpacific Reports That Goldspot Identifies 24 Targets and Confirms Presence of Porphyry System at Lmsl Copper -GOLD-Molybdenum -Silver Project
810 – 789 West Pender Street, Vancouver, BC V6C 1H2
Tel: 604-687-2038 Fax: 604-687-3141
NEWS RELEASE
TSX Ventures Exchange Symbol: ACP
May 16 , 2022
ARCPACIFIC REPORTS THAT GOLDSPOT IDENTIFIES 24
TARGETS AND CONFIRMS PRESENCE OF PORPHYRY SYSTEM
AT LMSL COPPER -GOLD-MOLYBDENUM -SILVER PROJECT
Vancouver, BC - ArcPacific Resource s Corp. (“ACP” or the “ Company”) (TSX-V: ACP) is pleased to
announce that GoldSpot Discoveries Corp. (“GoldSpot”) has completed its initial targeting program (the
“Program”) and identified twenty-four target areas that show specific indicators to host copper-gold-
molybdenum and /or skarn mineralization at the Company’s LMSL Copper -Gold-Molybdenum-Silver
Project (the “LMSL Project”).
The Program included a detailed technical study by GoldSpot’s team of experienced industry professionals
through remodelling geophysical surveys, surficial geochemistry, all previous drilling on site , and
utilization of a supervised machine learning program to complete targeting. Each target was validated to
ensure it fit within the proposed geological model parameters. The targets were then prioritized, and
specific field work recommendations were developed for each target area. GoldSpot also highlighted the
open-ended potential at the Lucky Mike area, calling it a “large hybrid porphyry -skarn system, where
skarns and polymetallic showings ring what appears to be an intrusive body with evidence of porphyry
copper mineralization”.
Adrian Smith, CEO of ACP comments, “We are extremely pleased with the progress on the LMSL P roject
over the past several months, we now have two porphyry systems identified at the Rey Lake and Lucky
Mike areas which need further drilling. In addition, we now have over twenty target areas to focus on,
giving the 120 square kilometre Project potential to host a cluster of deposits. We plan to follow the work
recommendations from GoldSpot to better define and evaluate these new targets in the field, as well as
advance the known areas of mineralization with planned work programs this field season”.
Highlights:
• Confirmed copper porphyry occurrences with open-ended upside potential on the LMSL Project.
• Regionally located along mineralized corridor with ideal geology to host copper deposits.
• 24 areas with multi-factor indicators showing existing or potential to host mineralization.
• Clear work plan and recommendations laid out for exploring target areas.
• Large 120 square kilometre project area give LMSL Project district scale potential.
2
Figure 1: LMSL Project Target Map location and geology. Target numbers are not based on priority.
Additional information regarding new and existing targets will be made available on the Company’s
website.
GoldSpot produced priority sequence for their targets based on a matrix probability method and
recommended specific work programs for each target. The Company is now taking these
recommendations under review and plans to proceed with field work in the coming weeks.
The review identifies major regional structures connecting the LMSL Project with the adjacent Highland
Valley copper deposits (owned by Teck Resources Limited), and highlights geological similarities between
the LMSL Project and the New Afton and Iron Mask Area Porphyry deposits (owned by New Gold Inc.).
The Lucky Mike area (Target 24): highlighted in the model showing a clear pattern of skarn mineralization
ringing around a modeled intrusion at depth with associated potassic alteration. High magnetics are
modeled as a dyke swarm emanating from the intrusive body at depth occurring along major NE trending
faults. The Lucky Mike area is also associated with known skarn mineralization which has been the focus
of previous mining activity on the LMSL Project. Recommendation: constrain the position of the intrusion
by completing more deeper drillholes at west of the LM-2016-01.
3
The Ray Lake porphyry area (Target 1): highlighted in the model as an area of interest that has only been
partially tested with historic shallow drilling resulting historic estimate (see news dated Feb 23, 2022 ).
Recommendation: More drilling on the east side of the target area (good access). General mapping and
prospecting.
Additional targets range from low to high priority and include recommendations ranging from completing
recognisance prospecting and mapping including soil geochemical surveys and geophysics to drill testing.
4
Figure 2: Lucky Mike target Area - yellow circle shows fault bounded area flanking strongest magnetic
high, hosting highly anomalous copper and molybdenum soil geochemical values and proximal to
increasing potassic alteration modeled from existing drilling. Area is one of 24 targets developed by
GoldSpot. High magnetic susceptibility in target area is modeled as a dyke swarm above a mineralizing
intrusion.
The LMSL Project is located in south -central British Columbia, 24 km north of Merritt in the northwest -
trending Triassic Nicola Group rocks, the same belt that hosts New Gold’s New Afton mine to the north,
the Copper Mountain mine to the south, and Teck’s Highland Valley mine immediately to the northwest.
The LMSL Project is underlain by volcanic, volcaniclastic and minor sedimentary rocks belonging to the
Upper Triassic Nicola Group. This belt is intruded by the Lower Jurassic Nicola and Guichon Creek
granodiorite batholiths to the east and west, respectively.
Disclosure
The Qualified Person (“QP”) for the Company has not verified the historic al sample analytical data
disclosed within this release. While the Company has obtained all historic records including analytical data
from the previous owners of the LMSL Project and from various government databases, the Company has
not independently verified the results of the historic sampling. Copper equivalents are calculated based
on a metals price of 4.20$USD per pound for copper and 21$USD per pound for molybdenum and assumes
100% recovery.
Adrian Smith, P.Geo., is a QP as defined by National Instrument 43-101 for the above-mentioned project.
The QP is a member in good standing of the Engineers and Geoscientists of British Columbia (EGBC) and
is a registered Professional Geoscientist (P.Geo.). Mr. Smith has reviewed and approved the technical
information disclosed above.
About ArcPacific Resources Corp.
ArcPacific Resources Corp. (TSX-V: ACP) is a Canadian based exploration company. ArcPacific owns 100%
interest in the LMSL Copper-Gold-Molybdenum-Silver Project in British Columbia, Canada, in the prolific
Quesnel Terrane which is world renowned for its copper and gold endowment. The Company also holds
other highly prospective exploration projects in Canada including its Blackdome gold project where it
discovered continuous gold mineralization in the first ever trenching at the project. The Company is
focused on creating shareholder value through new discoveries and strategic development of its mineral
properties and is exploring additional business opportunities. For further information, please visit
http://www.arcpacific.ca.
5
ON BEHALF OF THE BOARD OF DIRECTORS
/S “Adrian Smith”
CEO and Director
Forward-Looking Information
This news release may contain certain forward -looking information and statements, including without
limitation, the Warrant Amendments, the Incentive Program, statements regarding exploration plans, the
use of proceeds, and ot her future plans and objectives, and statements pertaining to receipt of TSXV
approval. All statements included herein, other than statements of historical fact, are forward -looking
information and such information involves various risks and uncertainties. There can be no assurance that
such information will prove to be accurate, and actual results and future events could differ materially
from those anticipated in such information. A description of assumptions used to develop such forward -
looking information and a description of risk factors that may cause actual results to differ materially from
forward-looking information can be found in the Company's disclosure documents on the SEDAR website
at www.sedar.com. Forward-looking statements are based on the estimates and opinions of management
on the date the statements are made, and we do not undertake any obligation to update forward-looking
statements should conditions or our estimates change, other than as required by law. Readers are further
advised not to place undue reliance on forward-looking statements.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information, please contact us at [email protected] or 1.778.331.3816.