- American Pacific Mining (CSE:USGD) has begun its drill program at the Palmer Project in Alaska
- The Palmer Project is an advanced-stage, high-grade volcanogenic massive sulphide-sulphate deposit in the Porcupine Mining District of the Haines Borough
- The 9,000-metre resource infill drill program at the Southwall Zone is designed to begin the process of upgrading mineral resources from inferred to measured and indicated
- American Pacific Mining Stocks (CSE:USGD) opened trading at $0.31 per share
American Pacific Mining (CSE:USGD) has begun its drill program at the Palmer Project in Alaska.
The Palmer Project is an advanced-stage, high-grade volcanogenic massive sulphide-sulphate deposit in the Porcupine Mining District of the Haines Borough.
The 9,000-metre resource infill drill program at the Southwall Zone is designed to begin the process of upgrading mineral resources from “inferred” to “measured and indicated.” The Palmer deposit is host to an indicated mineral resource of 4.68 million tonnes grading 5.23 per cent zinc, 1.49 per cent copper, 30.8 grams per tonne (g/t) silver, 0.30 g/t gold; and inferred mineral resource of 5.34 million tonnes grading 5.20 per cent zinc, 0.96 per cent copper, 29.2 g/t silver, 0.28 g/t gold.
“Our drill program this year has been designed with two primary goals: to delineate the high-grade portion of the deposit to further define the mineral resource estimation methodology as we look to convert mineral resources into mineral reserves in future feasibility studies; and to expand our mineral resource base with step-out and directional drilling in the Southwall Zone,” Peter Mercer, American Pacific’s Senior Vice President, Advanced Projects, said in a news release. “This year’s programs will lay the foundation for the engineering and evaluation work ahead. In addition, the knowledge gained from these programs will provide new insights into the potential for new high-grade discoveries throughout the mineralized district.”
The company’s joint venture partner, Dowa Metals & Mining Co. Ltd. has committed to fund the US$25.5 million 2023 program.
American Pacific Mining is a gold exploration company focused on precious metal opportunities in the western United States. The company recently acquired all of the issued and outstanding common shares of Constantine Metal Resources Ltd. The combined exploration and development company will boast two projects in the western United States being aggressively advanced under strategic partnerships with major metal producers and an expanded portfolio of prospective precious and base metals assets. Click here for more on this news.
American Pacific Mining Corp. (USGD) opened trading at $0.31 per share.
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