VANCOUVER, British Columbia, Aug. 30, 2021 (GLOBE NEWSWIRE) -- American Pacific Mining Corp (CSE: USGD / OTCQB: USGDF / FWB: 1QC) (“American Pacific” or “the Company”) is pleased to announce it has received final permits to commence a drill program at the past-producing high-grade Gooseberry Silver Project in Nevada.
With final drill permits now in hand, a 15-hole combination reverse circulation (RC) and diamond drill program is now expected to commence later this year.
Gooseberry is a low sulphidation, epithermal vein system encompassing the historical Gooseberry silver-gold mine in Storey County, Nevada. The past-producing underground silver and gold mine operated for nearly a century between 1900 and 1990, after which mining ceased due to low precious metals prices. No meaningful modern exploration work has been done on the project since 1994. The Company owns an undivided 100% interest with no underlying royalties and previously sampled up to 18.45 g/t Au and 595 g/t Ag from the dumps and old mineralized stockpiles at Gooseberry (see press release dated June 5, 2019).
"We are very pleased to receive our drilling permit in advance of a 15-hole combination RC and diamond core drill program totaling approximately 4,000 metres," stated President, Eric Saderholm. "These holes will target lateral and down-dip extensions to some of the higher-grade mineralization that was encountered during mining. American Pacific has always been very eager to drill Gooseberry, which produced very high-grade silver and gold from active mining faces. The initial phase of drilling will target extensions to these known mineralized zones."
The Company also announces the resignation of Norm Wareham, who has served as a member of its board of directors since January 25, 2018. American Pacific’s board and management thank Mr. Wareham for his years of service and wish him success in his future endeavours.
Technical aspects of this press release have been reviewed and approved by Phil Mulholland, P.Geo and Eric Saderholm, P.Geo., the designated Qualified Persons (QP) under NI 43-101.
About American Pacific Mining Corp.
American Pacific Mining Corp. is a precious metals explorer focused on opportunities in the Western United States. The Company's flagship asset is the high-grade, past-producing Madison Copper-Gold project in Montana, under option to joint venture with Kennecott Exploration Company, a division of the Rio Tinto Group, which the Company acquired in 2020. For this transaction, American Pacific has been selected as a finalist in the S&P Global Platts Global Metals Awards, an annual program that recognizes exemplary accomplishments in 16 performance categories, including 'Deal of the Year,' the category in which American Pacific Mining is competing. The awards program is hosted by S&P Global Platts, the leading independent provider of information and benchmark prices for the commodities and energy markets. Also in the American Pacific's asset portfolio are the Gooseberry Gold-Silver project and the Tuscarora Gold project: two high-grade, precious metals projects located in key mining districts of Nevada, USA. The Company’s mission is to grow by the drill bit and by acquisition.
On Behalf of the Board of American Pacific Mining Corp.
CEO & Director
Corporate Office: Suite 910 – 510 Burrard Street Vancouver, BC, V6C 3A8 Canada
Contact Kristina Pillon, President, High Tide Consulting Corp., 604.908.1695 / Kristina@americanpacific.ca
The CSE has neither approved nor disapproved the contents of this news release. Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.