American Pacific Mining Corp C.USGD

Video: USGD MGMT Comments on Madison’s 2024 Exploration

[1StockInformer]

In a recent video update, Warwick Smith, CEO of American Pacific Mining Corp. (Ticker: USGD.c or USGDF for US investors), and Eric Saderholm, Managing Director of Exploration, discussed the highlights of their Madison Copper-Gold Project in Montana. 

The update covered assay results from their 2024 field program, outlined plans for a Phase II drilling program and detailed promising sampling results.

Key Highlights from the 2024 Field Program:

• Significant Sample Results:

  • Up to 80.6 g/t gold, 5.2% copper, and 136 g/t silver from surface sampling.

  • A standout 38 g/t gold sample was discovered 2km from the Madison Mine.

  • An unique 5.24% copper sample was identified 3km southeast of the mine

    • Smith emphasized, "We need to get back here and figure out what that is because that's a substantial grade well away from any sampling that's ever been done in the past."

• Innovative Radiometric Survey:

  • The team conducted a radiometric survey, typically used in uranium exploration, to identify potassium and thorium anomalies. These elements are porphyry indicators and are aiding in refining targets for drilling.

Upcoming Exploration Plans:

• Phase II(a) Drilling:

  • Scheduled to begin in Q1 2025, potentially as early as January.

  • Aims to complete a 3,000m drill program targeting high-grade gold and copper zones identified through sampling and previous drilling.

• Broadway and Hudson Zones:

  • Exploration will target historic areas such as the Broadway and Hudson Zones.

  • The Broadway Mine, active until the 1950s, focused on copper oxides, producing 2.7M lbs of copper with grades between 20–35%.

    • As an oxide-only operation, sulfide material was left unmined by historical operators.

    • Drilling will focus on testing the sulfide component in and around these areas.

• Long-term Goals:

  • Following Phase II(a), the team plans a Phase II(b) program before advancing to Phase III. The ultimate objective is to define a resource estimate within 18 months, leveraging historical drilling data and old production records.

• Funding: 

  • The company is fully financed for the upcoming programs with $16 million in cash.

The management emphasized the growing scale of the Madison Project, with high-grade discoveries extending well beyond the immediate mine area. The team is optimistic about uncovering a much larger system as exploration progresses.

Full video here: 

Posted on behalf of American Pacific Mining Corp.