American Pacific Mining Issues Update on the Gooseberry Gold-Silver Project, Storey Nevada
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NEWS RELEASE
American Pacific Mining Issues Update on the Gooseberry Gold-Silver Project, Storey Nevada
VANCOUVER—Jan 7, 2020—American Pacific Mining Corp (CSE: USGD / FWB: 1QC / OTCPK: USGDF) (“APM” or the
“Company”) is pleased to issue an update on the Gooseberry Au-Ag Project in the Ramsey Mining District of Storey Nevada
(the “Property”). The Property, 42 unpatented claims over approximately 708 acres, was staked by APM in April of 2019 and
was followed up by a sampling program in June . The project has been developed vertically to 1450 feet (442 meters) from
surface, with significant underground development across seven of ten levels. Sporadic mining took place at the Gooseberry
Mine between the period 1906-1991.
Eric Saderholm, President and Director, commented: “We are pleased
with the progress of the Gooseberry 3D model, indicating that historic
grades were quite robust during the mines productive years.
Gooseberry hasn’t been in production for almost 30 years and this data
shows the high exploration potential for APM to expand upon the
known mineralized zones.”
APM has compiled historic underground stope maps from the mid
1980’s by the previous mine operator, Asamera Minerals Inc. Stope
maps with extensive chip sampling display the grade of mineralization
for gold and silver during the period when the mine was in production,
with the Gooseberry vein traced in red. APM believes that Asamera
personnel sampled the underground stopes as part of the production
process to track stope grades and to sequence future mining and that
samples were sent to an internal company lab for processing.
Assays from the stope maps include:
849 Stope Map
1.0m @ 16.31 g/t Au, 281.56 g/t Ag
1.2m @ 13.59 g/t Au, 286.25 g/t Ag
850 Stope Map
0.76m @ 24.38 g/t Au, 557.81 g/t Ag
0.91m @ 33.31 g/t Au, 447.19 g/t Ag
0.94m @ 13.94 g/t Au, 514.06 g/t Ag
0.67m @ 16.38 g/t Au, 622.5 g/t Ag
Figure 1 A-A'
Figure 2 B-B'
2
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850 Stope Map
1.1m @ 32.56 g/t Au, 1143.75 g/t Ag
0.82m @ 12.00 g/t Au, 530.31 g/t Ag
0.94m @ 19.88 g/t Au, 860.78 Ag
1.2m @ 23.25 g/t Au, 928.75 g/t Ag
1000-5 Stope Map
0.91m @ 65.31 g/t Au, 4578.75 g/t Ag
0.91m @ 25.91 g/t Au, 1099.06 g/t Ag
1000-7 Stope Map
0.9m @ 113.8 g/t Au, 3722.2 g/t Ag
0.6m @ 26.30 g/t Au, 681.9 g/t Ag
1.0m @ 15.70 g/t Au, 382.5 g/t Ag
1.1m @ 16.40 g/t Au, 398.1 g/t Ag
The selection of maps are from the 849, 850 and 1000-5, 1000-7 stopes
of the Gooseberry Mine which APM believes were later mined by
Asamera. The stope maps highlight the location of certain significant
assays as recorded by Asamera’s in-house team. For a full description
of the sampling data compiled by APM which relates to these stopes
please see https://americanpacific.ca/projects/gooseberry/. Please
refer to the long section at the end of the release for approximate
stope location and elevation.
The Ramsey Mining District is clustered amongst some of the most
famous and prolific mining districts in Nevada, including the Comstock
Mining District, just 42km west of Gooseberry. The Gooseberry Project
consists of nearly vertical quartz-dolomite veins that range from a few
inches up to 3 meters in width based upon historical re cords (see this
link for more information:
https://westernmininghistory.com/mine_detail/10310373/).
The veins follow an east-west structural zone and can be traced for
several hundred feet at the surface. Mineralization is hosted in
numerous veins present in the vicinity of the mine with occasional
areas of considerable jarosite, gypsum, and disseminated pyrite. The
Property contains gold-silver bearing vein structures characterized as
low-sulfidation epithermal style mineralization, typified by banded to cockade quartz textures and the presence of adularia
and kaolinite. On the basis of the data compiled by APM, new targets for exploration on the Property have been identified.
These targets have been identified in pink in the Long Section below. All information contained in this news release is
historic in nature and has not been verified by a Qualified Person for the purposes of NI 43-101.
Assays have not been verified by a Qualified Person as defined by NI 43 101. Highlight Intervals of chip sampling are a selective compilation from
sources that APM believes to be reliable for research purposes. Records of historical exploration work and production for the property area are at
times poorly preserved. In particular, the extent of historical work related to underground chip sample results, surface soil and rock sample results,
airborne and ground geophysics, and drilling programs referenced in the historical records are unknown. There is no QA/QC information available for
these results. Past sampling results are not necessarily indicative of future results or performance from the Property.
Figure 3 C-C'
Figure 4 D-D'
Figure 5 E-E'
Drill hole pierce points displayed on the map were found on the Asamera 1988 version of the long section. Likely these holes were drilled by Asamera Minerals
and West Coast Oil and Gas, although records are poorly preserved. No details on QA/QC exists for this information. It is unknown at this time if areas of the
mine were mined out after drilling took place. There is no assurance that the grades and intervals displayed on this map will be indicative of future results. No
information on the assay lab has been found and these results have not been verified by a Qualified Person as defined by NI 43 101.
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For more information visit: https://americanpacific.ca/projects/gooseberry/.
Qualified Person
Technical aspects of this press release have been reviewed and approved by Eric Saderholm, P.Geo., APM’s
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]
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 addr ess 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.
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 m anagement on the
date the statements are made and they involve a number of risks and uncertainties. Consequently, 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
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Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of
this release.