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ArcPacific Adds the Rey Lake Porphyry and Skarn To LMSL Copper-Gold-Silver Project
Vancouver, British Columbia--(Newsfile Corp. - February 23, 2022) - ArcPacific Resources Corp...
About this update from First Atlantic Nickel & Cobalt Corp.
[{"type":"text","content":"ArcPacific Adds the Rey Lake Porphyry and Skarn To LMSL Copper-Gold-Silver ProjectVancouver, British Columbia--(Newsfile Corp. - February 23, 2022) - ArcPacific Resources Corp. (TSXV: ACP) (\"ACP\" or the \"Company\") is pleased to announce that it has entered into an agreement dated February 17th, 2022 (the \"Option Agreement\") with two arm's length parties (the \"Optionors\") to acquire an undivided 100% interest in certain mineral claims located in British Columbia commonly referred to as the Rey Lake Property (the \"Property\"). Adrian Smith, CEO of ArcPacific comments, \"The Property is host to historical estimates totaling approximately 74 million tonnes with historically reported copper grades averaging 0.23% copper equivalent. This acquisition significantly increases the potential of the Company's LMSL project. We are very pleased with this new acquisition and are excited to commence renewed exploration and drilling this coming field season.\"The newly acquired claims adjoin the northeast side of the Company's LMSL project. The copper mineralization that exists on the Rey Lake Property could be related to a possible faulted offset of the same intrusive suite present within the Lucky Mike area of the LMSL project.The Company is also pleased to announce it has significantly expanded the LMSL copper gold silver project. The Company has acquired through staking, an additional 3,205 hectares or 32 square kilometres which brings the total land package size to 14,640 Hectares or over 145 square kilometres in size. The expanded land package covers new areas of anomalous copper in soil geochemistry with selective historical rock samples grading up to 0.4% Cu in volcanic breccias located along the northeast trending structural zones spanning several kilometres from the Lucky Mike area.The Rey Lake PropertyThe Property is located in south-central BC, 24 km north of Merritt in the northwest-trending Triassic Nicola Group rocks, the same belt that hosts New Gold's New Afton mine to the north, the Copper Mountain mine to the south, and Teck's Highland Valley mine immediately to the northwest. The Property is underlain by volcanic, volcaniclastic and minor sedimentary rocks belonging to the Upper Triassic Nicola Group. This belt is intruded by the Lower Jurassic Nicola and Guichon Creek granodiorite batholiths to the east and west, re...