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American Pacific Mining Corp C.USGD

Alternate Symbol(s):  USGDF

American Pacific Mining Corp. is a precious and base metals explorer and developer focused on opportunities in the Western United States. It has two flagship assets: the Palmer Project and the Madison Project. The Palmer Project is a Volcanic Massive Sulfide (VMS) project in Alaska. The Palmer Project is located only 60 kilometers (km) from the deep seaport at Haines, Alaska. The Madison Project is located in the heart of Montana’s prolific copper-gold belt only 38 km southeast of the world-renowned Butte Mining District. The Project consists of approximately 136 unpatented and six patented claims (2,514 acres), accessed via improved dirt roads. Its other projects include Gooseberry, Tuscarora and Red Hill. The Gooseberry Project is located in Storey County, Nevada, United States. The Gooseberry Project includes 42 unpatented claims, totaling over 708 acres. The Red Hill is a sediment-hosted gold project located 24 kilometers southeast of the 12-million-ounce Cortez Hills gold deposit.


CSE:USGD - Post by User

Post by 1StockInformeron Dec 02, 2024 6:42pm
47 Views
Post# 36341752

USGD Secures Full Ownership of Palmer Copper VMS Project

USGD Secures Full Ownership of Palmer Copper VMS Project

Today, American Pacific Mining Corp. (Ticker: USGD.c or USGDF for US investors) shared that it has finalized its acquisition of Dowa Metals & Mining Alaska Ltd.'s interest in the Palmer VMS Project, located in Southeast Alaska.

r/smallstreetbets - American Pacific Mining (USGD) Secures Full Ownership of Palmer Copper VMS Project in Alaska and Gains USD$10M in Funding

This transaction grants American Pacific 100% ownership of the advanced copper-zinc-gold-silver exploration project while receiving USD$10M in funding from Dowa.

Notably, Dowa retains an option to purchase up to 50% of the zinc concentrate produced during the first year of Palmer's production and beyond. 

Palmer VMS Project Highlights

  • Location: Situated 60 km from the deep-sea port at Haines, Alaska, with established road access.

  • Exploration History: Over USD$116M invested to date, with NI 43-101-compliant resources defined at the Palmer and AG deposits.

  • Drilling Results: Recent exploration (2023-2024) has identified rich copper zones and high-grade prospects along 15 km of favorable mineral trends, characteristic of a significant Volcanogenic Massive Sulphide (VMS) system.

CEO Warwick Smith stated, “This transaction is transformative for American Pacific, giving us full control of a high-potential project and the funding needed to expand exploration across our portfolio.”

With the Palmer acquisition, American Pacific is poised to advance resource development while pursuing regional discovery potential in Alaska and beyond.

Full news here: https://americanpacificmining.com/news-releases-2024/american-pacific-closes-transaction-to-gain-usd10m-and-100-interest-in-the-palmer-vms-project/

Posted on behalf of American Pacific Mining Corp.

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