Business
American Pacific Mining Provides Update on Drill Programs at its Madison and Palmer Projects
Vancouver, British Columbia--(Newsfile Corp. - July 30, 2024) - American Pacific Mining Corp (CSE: USGD) (OTCQX: USGDF) (FSE: 1QC1) ("American Pacific" or "the
About this update from American Pacific Mining Corp.
[{"type":"text","content":" Vancouver, British Columbia--(Newsfile Corp. - July 30, 2024) - American Pacific Mining Corp (CSE: USGD) (OTCQX: USGDF) (FSE: 1QC1) (\"American Pacific\" or \"the Company\") is pleased to provide a progress update for two drill programs occurring at its Madison Copper-Gold Project (\"Madison\") in Montana and its Palmer Copper-Zinc VMS Project (\"Palmer\") in Alaska. Madison Update The Madison drill program was expanded from five (5) to seven (7) holes based on positive visual observations and real-time modeling updates that supported additional drill holes. A total of 3,452 feet (1,050 metres) were drilled and the Phase I program at Madison is now complete. Phase I drilling focused on near-mine extensions and areas where historical drilling successes*, including 14.69 metres (\"m\") of 12.10 grams per tonne (\"g/t\") gold (\"Au\") and further downhole 61.63 m of 6.97% copper (\"Cu\"), highlighted the potential to define future mineral resources with significant Au and Cu mineralization. Native copper was observed in several drill holes (see Image 1) and the Company has completed detailed logging of lithology to enhance modeling to guide Phase II drilling with a view towards stepping out, drilling deeper and expanding the mineralized footprint well beyond the historical mine site area. Results from Phase I will be released beginning in Q3, 2024 once received and interpreted. \"We are thrilled to have drill programs occurring at two very high-grade western US copper and gold projects this summer, which will lead us into a catalyst-rich Q3 and Q4 this year as results are released,\" commented CEO Warwick Smith. \"This has been one of our most active summer seasons of drilling ever for American Pacific and we are well positioned for growth with a healthy treasury, positive trends in the gold and copper markets and drill results we believe will further demonstrate the grade profiles and exploration upside at our flagship projects.\" The next phase of drilling at Madison will follow up on successes from Phase I drilling, as well as on deeper regional targets within the western portion of the property where surface samples of up to 48.5 g/t Au are suggestive of a buried intrusive heat source. Image 1. Native copper encountered during Phase I drilling at Madison Palmer Update Drilling is well underway at Palmer with nine (9) holes of ...