Drills Hit High Grade Copper-Zinc At Palmer American Pacific drills hit high-grade copper-zinc at Palmer as it preps for resource update - Mining.com Feature
As detailed in a recent Mining.com feature, American Pacific Mining's (USGD.c USGDF) recent update on the Palmer copper-zinc project in Alaska revealed substantial copper and zinc intercepts, identifying a high-grade core within the deposit:
https://www.mining.com/american-pacific-drills-hit-high-grade-copper-zinc-at-palmer-as-it-preps-for-resource-update/ A key drill hole intersected 18 meters at 1.5% copper and 5.4% zinc, with a section of 6.6 meters at 3.6% copper and 7.7% zinc, plus, further drilling confirmed the presence of a higher-grade copper core and stronger zinc concentrations than previously reported in the 2018 resource.
Among other notable drill results, 4.8 meters at 1.4% copper and 9.9% zinc was intersected, and USGD plans to update its 2018 resource estimate in 2025, using data from this year’s 6,036-meter, 19-hole exploration program.
The 2018 resource estimate outlined an indicated resource of 4.7 million tonnes at 1.49% copper and 5.23% zinc, with an additional inferred resource of 5.3 million tonnes at 0.96% copper and 5.2% zinc. A 2019 preliminary economic assessment projected an 11-year mine life, with a post-tax net present value of $266 million and a 21% internal rate of return, based on 2019 metal prices.
Notably, Palmer is held in a joint venture managed by Dowa Metals & Mining, which owns 55% and funded a successful $20 million program in 2023, thus total investment in Palmer has surpassed $100 million.
News Breakdown:
https://x.com/StckMasterFlash/status/1854652898510025077 Posted on Behalf of American Pacific Mining Corp.