ArcPacific Reports that GoldSpot Identifies 24 Targets and Confirms Presence of Porphyry System at LMSL Copper-Gold-Molybdenum- Silver Project
ArcPacific Reports that GoldSpot Identifies 24
Targets and Confirms Presence of Porphyry
System at LMSL Copper-Gold-Molybdenum-
Silver Project
Vancouver, British Columbia--(Newsfile Corp. - May 16, 2022) -
ArcPacific Resources Corp.
(
TSXV:
ACP
) ("
ACP
" or the "
Company
")
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
Project 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.
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.
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/6963/124099_c2eb9bdc44e77bfb_001full.jpg
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.
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.
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.
To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/6963/124099_c2eb9bdc44e77bfb_002full.jpg
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 historical 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. (TSXV: 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
.
ON BEHALF OF THE BOARD OF DIRECTORS
/S "Adrian Smith"
CEO and Director
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www.sedar.com
. Forward-looking statements are based on the estimates and opinions of
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