- American Pacific Mining (CSE:USGD) has unearthed significant gold and copper mineralization beyond historical mine workings at its Madison project in Montana
- Highlight results include 38.25 metres of 1.28 per cent copper and 1.22 grams per ton of gold
- American Pacific Mining is a precious and base metals explorer and developer active in the western United States
- American Pacific Mining stock has given back 45.83 per cent year-over-year and 60.61 per cent since 2019
American Pacific Mining (CSE:USGD) has unearthed significant gold and copper mineralization beyond historical mine workings at its Madison project in Montana.
The results stem from the first three drill holes of a seven-hole phase-one program, which the junior miner has completed. Highlights include:
- APMMAD24-02: 38.25 metres of 1.28 per cent copper and 1.22 grams per ton (g/t) of gold (2.34 per cent copper equivalent), including 2.08 per cent copper and 2.43 g/t gold over 7.86 m.
- APMMAD24-05: 32.71 m of 3.15 g/t gold, including 7.32 m of 9.90 g/t gold; and 45.45 m of 0.96 per cent copper, including 16 m of 2.02 per cent copper.
- APMMAD24-01: 1.04 g/t gold over 17.04 m within a broader mineralized envelope of 32 m at 0.76 g/t gold, as well as multiple zones of copper mineralization with 0.43 per cent copper over 17.37 m, including 1.39 per cent copper over 3.05 m.
American Pacific notes that past mining practices in the area were limited by metallurgical and processing capabilities at the time, leading the previous operator to leave substantial high-grade copper and gold mineralization untouched, despite being in close proximity to mine workings.
While the Madison mine produced 2.7 million pounds of copper (20 per cent to more than 35 per cent copper) and 7,570 ounces of gold (16.1 g/t gold) between 2008 and 2012, the junior miner believes the results above demonstrate “near-mine exploration potential and expansion opportunities,” according to Wednesday’s news release.
American Pacific expects to release more Phase 1 drill results in the coming weeks. Targeting for Phase 2 drilling will focus on potential expansion to the west and at depth where targets remain open and untested.
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“These initial results have demonstrated that significant amounts of gold and copper mineralization extend well beyond the historical mined areas. In addition, the broader than expected intervals highlight the potential for mineralization left behind from historical mining that operated at a much higher cut-off grade,” Warwick Smith, American Pacific Mining’s chief executive officer, said in a statement. “We eagerly await further assay results, which we expect will continue to demonstrate the opportunity to define significant concentrations of both copper and gold.”
About American Pacific Mining
American Pacific is a precious and base metals explorer and developer active in the western United States. The junior miner complements Madison with five other projects with high-conviction upside:
- The Palmer project, a volcanic massive sulphide-sulphate project in Alaska under joint-venture partnership with Dowa Metals & Mining, owner of Japan’s largest zinc smelter.
- The Ziggurat project, located at the northern end of Nevada’s Round Mountain trend, which houses numerous multi-million-ounce gold projects.
- The Tuscarora project, where several high-grade gold vein targets feature bonanza-grade samples up to 21,032 g/t gold and 38,820 g/t silver.
- The Red Hill project, where previous drilling by Barrick Gold returned high-grade results, including 24.4 m of 4.99 g/t gold, demonstrating a sediment-hosted gold system that has yet to be adequately tested at depth.
- The Gooseberry project, whose high-grade gold and silver vein system boasts similar geology and resides just 15 miles from the Comstock Lode deposit (8.6 million ounces of gold and 270 million ounces of silver).
American Pacific Mining stock (CSE:USGD) last traded at C$0.13 per share. The stock has given back 45.83 per cent year-over-year and 60.61 per cent since 2019.
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(Top photo of drilling at the Madison project: American Pacific Mining)