American Pacific Mining Prepares to Commence Drill Program at the Madison Copper-Gold Project
NEWS RELEASE
American Pacific Mining Prepares to Commence Drill Program
at the Madison Copper-Gold Project
Vancouver, British Columbia / September 13, 2023 - American Pacific Mining Corp (CSE:
USGD / OTCQX: USGDF / FWB: 1QC) (“American Pacific” or the “Company”) is pleased
to report that a five (5) hole diamond drill campaign is set to commence in early Q4/2023 at the
Madison Copper-Gold Project (“Madison” or the “Project”) located in Madison County,
Montana.
The drill program is designed to further define near -surface, high- grade copper and gold
mineralization and provide a foundation for deeper exploration in areas with limited historical
drilling. In part, this 2023 program will follow up on the last partner funded campaign, which
included an intersection of 14.44 grams per tonne (“ g/t”) gold (“Au”) over 6.53 metres (“m”)
(see January 12, 2022 news release). Drill holes have been strategically placed to accomplish
multiple objectives and test numerous targets with each hole. The program aims to accomplish
three key objectives: test shallow gap areas; tighten drill spacing at moderate depth within the
skarn to support future mineral resource estimation; and extend below known mineralization to
provide valuable information for deeper exploration in subsequent campaigns (see Figure 1
and 2).
“We are excited to begin drilling at Madison and view this drilling campaign as an opportunity
to make an already strongly mineralized system more robust , while collecting valuable
information in untested areas ,” commented Warwick Smith, CEO of American Pacific. “The
ultimate prize at Madison is the potential for a deep-rooted porphyry deposit, but we believe the
shallow high-grade skarn mineralization will be an important contributor during the early years
of any future mining scenario at Madison and believe it can expand significantly with further
exploration work.”
Kennecott Exploration Company (“KEX”), a division of the Rio Tinto Group, has spent
approximately US$6.8M at the Madison Copper -Gold Project and may earn up to 70% of the
Project by spending US$30M by 2030. The focused Q4/2023 five -hole program (3,700 feet /
1,130 metres) does not incorporate multiple planned deeper drill holes that will be considered
as part of 2024 drilling to test the porphyry potential at depth. American Pacific will be leading
the exploration for the 2023 drill campaign with the support of KEX. The drill program is in
process of being permitted and field work will commence once all permits are granted.
Figure 1: American Pacific 2023 Diamond Drill Program
Figure 2: Cross Section 1 showing proposed drill trace and corresponding gaps/targets
Figure 3: Cross Section 2 showing proposed drill trace that is targeting
shallow gold zone expansion, skarn infill and Cu-Au depth extension
Technical Summary
The Property has distinctive mineralization types throughout the P roperty. The stronger
mineralization can be found in oxidized jasperoid, classic high-iron skarn, massive sulfide and
gold/silver-rich quartz veining with typical high-level signatures and textures. Lower grade gold
mineralization locally occurs in endoskarns within the proximal granodiorite intrusive rock. All
of these mineralization suites are interpreted to be associated with the emplacement of
numerous igneous intrusion episodes emplaced during the late Cretaceous to early Tertiary
geologic periods . Min eralization styles and tenor are dependent on the rocks hosting the
mineralization. The jasperoid mineralization is high level and is generally found in the dolomitic
rock of the Devonian Jefferson Formation. The skarn mineralization, including the massive
sulfide, can be both gold and/or copper-rich and occurs within the highly reactive limestone and
shale units within the greater Madison Group of Mississippian age. The quartz vein
mineralization is generally found within older Precambrian metasediments. The nature and
genesis of the quartz vein mineralization is currently poorly understood and has not been
sufficiently tested.
Qualified Person
Technical aspects of this news release have been reviewed and approved by the designated
Qualified Person (QP) under National Instrument 43-101, Eric Saderholm, P.Geo.
About American Pacific Mining Corp.
American Pacific Mining Corp. is a base and precious metals explorer and developer focused
on opportunities in the Western United States. The Company's flagship asset is the 14 million
tonne, high-grade, Palmer Volcanic Massive Sulfide (V MS) project in Alaska, under joint -
venture partnership with Dowa Metals & Mining, owner of Japan’s largest zinc smelter. The
Company is also partnered with Kennecott Exploration, a division of the Rio Tinto Group, on
the past-producing Madison Copper -Gold project in Montana. 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 categories. 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
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.