American Pacific Mining Announces 2023 Drill Plans and Compilation of 2022 Soil Geochemistry and Integrated CSAMT Geophysics at its Gooseberry Project
NEWS RELEASE
American Pacific Mining Announces 2023 Drill Plans and Compilation of 2022 Soil
Geochemistry and Integrated CSAMT Geophysics at its Gooseberry Project
Vancouver, British Columbia / February 15, 2023 - American Pacific Mining Corp (CSE:
USGD / OTCQX: USGDF / FWB: 1QC) (“American Pacific” or the “Company”) is pleased
to report 2023 drill plans and the final compilation of the 2022 soil geochemistry and integrated
CSAMT geophysics for target generation at the Gooseberry Project , Storey County, Nevada
(the “Property”).
Highlights:
• The 2023 drilling program has been updated and re-permitted to test em erging targets
generated by soil geochemistry and integrated CSAMT geophysics completed in 2022.
• Approximately 15 holes of up to 3048 metres (10,000 feet) of Phase II reverse circulation
drilling is scheduled to commence in Q1, 2023.
• 2,889 soil samples were collected during the 2022 field season for silver (“Ag”) and gold
(“Au”) analysis.
• Assay results have been received and compiled into the Gooseberry exploration
database.
“The 2022 CSAMT survey results showed several structural features that are not exposed at
the surface due to thick soil development within the volcanic host rocks,” stated the Company’s
President, Eric Saderholm. “Interestingly, the silver anomalies in soils have v alidated these
CSAMT anomalies. “These data sets were derived and compiled independently from one
another; h owever, when analyzed together they reveal similar mineralization patterns
throughout the property , which are parallel to the known Gooseberry Vein. ” Saderholm
continued: “Trace silver values associated with these anomalies are higher than those found
along the trace of the actual Gooseberry Vein. In fact, a new exploration area, the Elderberry
Vein target, has emerged as a priority for 2023 drilling.”
American Pacific’s geologists have incorporated all available discovery techniques to further
refine the 2023 drilling targets. The Company has now received permits for a 2023 program
that is expected to include approximately 15 drill holes for ~3,000 metres (~10,000 feet) of
drilling along the extension of the Gooseberry Vein and the Elderberry and Strawberry Zones
(Figure 2).
Figure 1. Gooseberry Silver in Soils with Vein Interpretations
Figure 2. Gooseberry CSAMT with Vein Interpretations and Permitted Drilling
A rea omitte from
oi ata a e
e to mine
contamination
About The Gooseberry Project
Historical exploration in this region of the Ramsey Mining District was largely confined to the
east and west projections and possible extensions of the existing Gooseberry Vein. Minimal
efforts were given to the parallel or cross -cutting veins and structures. No hi storical, property-
wide geochemical or geophysical work has been documented. American Pacific is committed
to systematic exploration and evaluation of the entire Property and believes this approach has
the potential to demonstrate significant exploration u pside well beyond the area that hosted
past production.
This thorough approach utilizes the historically proven techniques, including mapping; rock
sampling; soil geochemistry and air -photo stereoscope structural work. Additionally, this
comprehensive eff ort incorporates more modern exploration tools, including clay species
spectral analysis; CSAMT geophysics and satellite imagery. These specialized exploration
techniques were poorly developed or unavailable during previous mining and development
activities (Figure 2).
Mineralization at the Property is comprised of high -level epithermal gold and silver -bearing
quartz/carbonate veins, which have been emplaced in intermediate volcanic lavas and tuffs
within the Miocene Alta and Kate Peak Formations. The large, historic Comstock Lode districts
located 17 kilometres southwest of the Property was formed within rocks of similar composition
and age. The Comstock Mines produced 8 million ounces of gold and 270 million ounces of
silver in the late 1800s. The Gooseber ry Vein was discovered in 1906. Larger scale mining
efforts began on the property in 1975 and were terminated in early 1992. American Pacific
resumed exploration activities in 2021.
Technical Summary
The CSAMT data were collected by Reno-based Zonge Engineering technicians in the summer
of 2022 and interpreted by a licensed geophysicist, based in Elko, Nevada. The soil samples
were collected by American Pacific technicians during H2/2022. Samples were delivered to
Paragon Laboratories in Sparks, Nevada and analyzed for silver, gold and trace elements using
the assay code “50AR-MS”. All sampling results were received by late 2022 and compiled by
American Pacific.
Qualified Person
Technical aspects of this news release have been reviewed and approved by the de signated
Qualified Person (QP) under National Instrument 43-101, Eric Saderholm, P.Geo.
About American Pacific Mining Corp.
American Pacific Mining Corp. is a precious and base metals explorer and developer focused
on opportunities in the Western United States. The Company has two flagship assets; a 14
million tonne, high-grade, Palmer Volcanic Massive Sulfide (VMS) project in Alaska, under joint-
venture partnership with Dowa Metals & Mining, owner of Japan’s largest zinc smelter and the
Company is also partnered with Kennecott Exploration, a division of the Rio Tinto Group, on
the past -producing Madison Copper -Gold project in M ontana. For the Madison transaction,
American Pacific was selected as a finalist in both 2021 and 2022 for 'Deal of the Year' at the
S&P Global Platts Global Metals Awards, an annual program that recognizes exemplary
accomplishments in 16 performance categ ories. Also in American Pacific's asset portfolio are
the Gooseberry Silver -Gold project and the Tuscarora Gold -Silver project: two high -grade,
precious metals 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
Investor Relations Contact:
Kristina Pillon, High Tide Consulting Corp.
604.908.1695 / [email protected]
Media Relations Contact:
Adam Bello, Primoris Group Inc.
416.489.0092 / [email protected]
The CSE has neither approved nor disapproved the contents of this news release. Neither the
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accepts responsibility for the adequacy or accuracy of this release.