All reported intercepts in both tables are down hole core lengths. True thickness estimated to be ~85-90% of down hole core lengths. Copper and Zinc Equivalent Notes: - ZnEQ = (Cu/100*2204.6*$lbCu*CuREC) + (Zn/100*2204.6*$lbZn*ZnREC) + (Au/31.1035*$ozAu*AuREC) + (Ag/31.1035*$ozAg*AgREC) / (2204.6/100*$lbZn*ZnREC)
- CuEQ = (Cu/100*2204.6*$lbCu*CuREC) + (Zn/100*2204.6*$lbZn*ZnREC) + (Au/31.1035*$ozAu*AuREC) + (Ag/31.1035*$ozAg*AgREC) / (2204.6/100*$lbCu*CuREC)
- Lead and Barite are not included in the CuEq and ZnEq values
- Assumed metal prices are US$1.15/lb for zinc (Zn), US$3.00/lb for copper (Cu), US$1250/oz for gold (Au), US$16/oz for silver (Ag) (JDS 2022).
- Estimated metal recoveries (REC) are 93.1% for zinc, 89.6% for copper, 90.9% for silver and 69.6% for gold as determined from metallurgical locked cycle flotation tests completed in 2018 (JDS 2022)
Geotechnical Drilling Ten geotechnical diamond drillholes (2,365 m) were completed at three sites (Marmot, Stryker, UM drill pads) in the Palmer deposit area to provide hydrological information, including estimates for water volume and water quality. The drill core was evaluated for specific geotechnical parameters and to identify structural features. Five water monitoring wells were installed (2 shallow and 3 deep) to complement the twelve existing water monitoring wells from previous year's programs. Geotechnical drillhole GT23-024 (UM pad), located approximately 100 m from the RW Zone mineralization, intersected semi-massive sulphide and massive barite in the RW Oxide Zone with significant copper, zinc, silver, gold and barite assay results (see Table 2 above). Oxidized parts of the RW Zone typically contain negligible copper and zinc, whereas lead, gold, and silver grades remain similar or higher than those of non-oxidized areas. Locally, remnant blocks or lenses of weakly oxidized to unoxidized RW Zone sulfide mineralization are present in the RW Oxide Zone. The RW Oxide zone is not included in the current resource model and represents a compelling exploration target. Quality Assurance (QA) and Quality Control (QC) There are strict Quality Assurance and Quality Control protocols at Palmer covering the planning and placing of drillholes in the field; drilling and retrieving drill core; drillhole surveying; core transport to the Palmer Camp; core logging, sampling and bagging of core for analysis; transport of core from site to ALS Laboratory in North Vancouver BC for sample preparation and analysis; recording and final statistical vetting of results. Sampling Procedures The Company's QA/QC drill core sample protocol consists of collection of samples over a minimum 0.3 m interval to a maximum 1.5 m interval (depending on the lithology and style of mineralization) over the mineralized portions of the drillhole. The drill core sample is cut in half with a diamond saw, with half of the core placed in individual sealed polyurethane bags and the remaining half securely retained in the original core box for permanent storage. Drill core samples are shipped by transport truck in sealed woven plastic bags to ALS Geochemistry Analytical Lab facility in North Vancouver, BC for sample preparation and analysis. ALS Geochemistry meets all requirements of International Standards ISO/IEC 17025:2017 and ISO 9001:2015. ALS Global operates according to the guidelines set out in ISO/IEC Guide 25. Gold was determined by fire-assay fusion of a 30 g sub-sample with atomic absorption spectroscopy (AAS). Various metals including silver, gold, copper, lead and zinc were analyzed by inductively-coupled plasma (ICP) atomic emission spectroscopy, following multi-acid digestion. The elements copper, lead and zinc are determined by ore grade assay for samples that return values >10,000 ppm by ICP analysis. Silver is determined by ore-grade assay for samples that return >100 ppm by ICP analysis. Barium (BaO) analysis utilized lithium borate fusion into fused discs for XRF analyses, with BaO converted to BaSO4 (barite) using a conversion factor of BaO x 1.52217. Density measurements were determined at the project site by Constantine personnel on cut core for each assay sample. The Company maintains a robust QA/QC program that includes the collection and analysis of duplicate samples and the insertion of blanks and standards (certified reference material). In addition, prepared samples, sample replicates, duplicates and internal reference materials are routinely used as part of ALS Geochemistry’s internal quality assurance program. Qualified Person Statement The technical information in this news release regarding the Palmer Project has been reviewed and approved by Michael Vande Guchte, P.Geo., VP Exploration for the Palmer Project and a Qualified Person (QP) as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects. About American Pacific Mining Corp. American Pacific Mining Corp. is a precious and base metals explorer and developer focused on opportunities in the Western United States. The Company has two flagship assets: the Palmer Project, a Volcanic Massive Sulfide (VMS) project in Alaska, under joint-venture partnership with Dowa Metals & Mining, owner of Japan’s largest zinc smelter; and the Madison Project, a past-producing copper-gold project in Montana partnered with Kennecott Exploration, a division of the Rio Tinto Group. 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 three high-grade, precious metals projects located in key mining districts of Nevada, USA: the Ziggurat Gold project, partnered with Centerra Gold; the Gooseberry Silver-Gold project; and the Tuscarora Gold-Silver project. 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 / Kristina@americanpacific.ca Media Relations Contact: Adam Bello, Primoris Group Inc., 416.489.0092 / media@primorisgroup.com |