American Pacific Mining Announces Update on the Tuscarora Gold Project
LEGAL_30989074.2
NEWS RELEASE
American Pacific Mining Announces Update on the Tuscarora Gold Project
VANCOUVER—Jan 13, 2020—American Pacific Mining Corp (CSE: USGD / FWB: 1QC / OTCPK: USGDF) (“APM” or
the “Company”) is issuing an update on the Tuscarora Gold Project in Elko Nevada. OceanaGold Corporation
(“OGC”) has now completed 2298m of drilling in a 7-hole drill campaign (6 X RC holes, 1 X Core hole) that focused
on areas east and west of the high-grade South Navajo Vein.
Highlights of the 2019 drilling include:
HOLE ID
From
(m)
To
(m)
Interval
(m)
Au (FNL)
g/t
Ag (ICP)
g/t
TUS-003 384.05 385.57 1.52 3.47 5.3
TUS-003 365.76 367.28 1.52 2.17 0.8
TUS-003 379.48 381.00 1.52 2.08 7.5
TUS-003 199.64 201.17 1.52 1.24 0.3
TUS-003 367.28 368.81 1.52 1.21 0.8
TUS-009 85.34 86.87 1.52 1.18 1.0
TUS-001C 359.26 360.27 0.91 1.12 18.1
In the summer of 2019, OGC commissioned a
thorough geophysical program led by Wright
Geophysics that included gravity and CSAMT surveys
of the Tuscarora Project. The combination of gravity
and CSAMT produced a consistent structural picture
along the west s ide of Independence Valley.
Numerous northwest to west -northwest directed
structures were defined, which parallel and coincide
with mapped veins. Prominent northeast to
southwest structures form primary basin bounding
faults. The two sets fit into a larger picture as radial
and concentric structures respectively around the
Mount Blitzen volcanic cent re. Three of the radial
structures were noted by Wright as specific areas of
interest. Numerous vein type CSAMT targets were also identified. All structures interpreted from the gravity found
support in the CSAMT results.
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OceanaGold compiled the geophysical results and outlined eight new target areas on the property , drilling only
two of the eight during the 2019 drilling program. Structural hits did occur with the drilling and gold values greater
than 3 g/t were discovered in an area previously undrilled, nevertheless , OGC has given notice that it will not be
proceeding at this time with the earn-in joint venture with APM.
Eric Saderholm, President of APM commented: “The interpretation of the geophysical data led the OceanaGold
team to make the decision to test possible vein controlling structures with a few deeper holes. Our interpretation
is slightly different and we are pleased that th ey encountered a 3.47 g/t gold intercept in an area of the district
that has never been drilled before. This is exciting for two reasons . One, this represents a potential new vein set ;
and two, the depth of the intercept is at 1260-1265 feet (384- 385 metres) which is well below the depth of any
other intercept within the land package. We will now take the time to evaluate all of the recently received data
and plan the next stages of exploration at Tuscarora, with the added benefit of already having six untested target
areas to follow up on.”
OGC spent US$965,766.70 (CAD$1,258,164.02) on exploration at Tuscarora between April – Dec 2019 and APM
has received the data compiled over the previous nine months.
NOVO Resources has extended the property payment due January 20, 2020 for CAD$125k. A revised payment of
CAD$150k is now due on January 20, 2021. APM plans to continue exploring Tuscarora in 2020.
“I would like to thank the team at OceanaGold for all th e time and work they put into advancing Tuscarora this
year. OGC’s geophysical data added significant value to the property, and further exploration is required to realize
the potential of the mineralized structures that are evident across the 1,818 ac property,” commented Warwick
Smith, CEO of APM. “ APM is happy to have 100% of this high -grade epithermal project, and the board remains
positive that Tuscarora has substantial merit. In particular the East Pediment zone and targets in the west of the
property remain a priority for further exploration. In addition, I would like to thank the team at Novo Resources
for their continued support in the advancement of Tuscarora.”
QA/QC
Samples were processed at ALS Reno located at 4977 Energy Way, Reno, NV, USA for the method Au-AA24; Samples
were processed at ALS Elko located at 1345 Water St. Elko Nevada, USA for CRU-31, CRU-QC, LOG-22, LOG-24, PUL-
31, PUL-QC, SND-ALS, SPL-22Y, WEI-21. Samples were processed at ALS Vancouver at 2103 Dollarton Hwy, North
Vancouver, BC , Canada for Hg-Ms42 and ME -ICP41. Core samples were processed at ALS Reno with the LOG -
COREBX, SAW-01a methods. Fire Assay samples were fine crushed until 70% <2mm and 250g pulverized until better
than 85% passes through a 75-micron screen. Gold was tested via the Au -AA24 (Au 50g FA AA finish). Silver was
analyzed with Ag -AA45 (Trace Ag – aqua regia/AAS). In addition to the quality assurance and quality control
program performed by ALS, OceanaGold inserted lab certified standards, field blanks and duplicates into the
sample stream.
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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. Tuscarora is a high-grade, early stage gold project located in a prime precious metal district in Nevada, only
35km northeast of the Carlin trend, 20km southwest of the Jerritt Canyon deposit, and 50km east-northeast of the
Midas deposit. American Pacific is Eyeing a Gold Discovery amidst gold’s next bull market.
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 MarketSmart: 1.877.261.4466 [email protected]
HoleID E_UTM_
NAD83
N_UTM_
NAD83 Elev_m Azimu
th Dip Proposed
TD_ft
ActualT
D_ft
Actual_
Core
Actual_
RC
TUS-001 566061 4573325 1816 40 -50 1000 530 530
TUS-001C 566054 4573332 1816 45 -55 1500 1313 1313
TUS-003 566012 4573255 1813 40 -50 1500 1290 1290
TUS-005 565853 4573436 1846 40 -50 1300 970 970
TUS-007 564569 4572721 1834 255 -55 1200 935 935
TUS-008 564662 4572742 1832 255 -50 1300 1300 1300
TUS-009 564759 4572772 1842 255 -55 1500 1200 1200
TOTAL 9300 7538 1313 6225
feet
Campaign Information can be downloaded by clicking this link below:
https://americanpacific.ca/site/assets/files/3666/tuscarora_drill_results_oceanagold_2019_7_hole_campaign.xlsx
Forward-looking Information
Some statements in this news release contain forward-looking information (within the meaning of Canadian securities legislation) including,
without limitation, statements as to planned exploration activities and the expected timing of the receipt of results. These statements
address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors, which may cause the
actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or
implied by the statements. Such factors include, without limitation, customary risks of the mineral resource industry as well as the
performance of services by third parties.
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Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words
"expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "aims," "potential," "goal," "objective, " "prospective," and
similar expressions, or that events or conditions "will," "would," "may," "can," "could" or "should" occur, or are those statements, which, by
their nature, refer to future events. The Company cautions that Forward-looking statements are based on the beliefs, estimates and opinions
of the Company's management on the date the statements are made and they involve a number of risks and uncertainties. Consequ ently,
there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from
those anticipated in such statements.
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.