VANCOUVER, British Columbia, April 24, 2023 (GLOBE NEWSWIRE) -- American Pacific Mining Corp (CSE: USGD / OTCQX: USGDF / FWB: 1QC) ("American Pacific" or the "Company") is pleased to announce the 2023 budget and work program for the Palmer Project ("Palmer" or the "Project"), an advanced-stage, high-grade volcanogenic massive sulphide-sulphate ("VMS") project located within the Porcupine Mining District of the Haines Borough, Alaska.
The 2023, multi-purpose, US $25.5 million work program at the Palmer Project, includes a surface exploration drilling program, geotechnical drilling, camp construction, ongoing baseline environmental and site engineering work.
2023 Palmer work program highlights:
- A 9,000 metre ("m") resource infill drill program at the Southwall Zone designed to begin the process of upgrading mineral resources from Inferred to Measured and Indicated at Palmer. The Palmer Deposit (Southwall and RW Zones) currently include an Indicated mineral resource of 4.68 million tonnes grading 5.23% zinc,1.49% copper, 30.0 grams per tonne ("g/t") silver, 0.30 g/t gold and inferred mineral resource of 5.34 million tonnes grading 5.20% zinc, 0.96% copper, 29.2 g/t silver, 0.28 g/t gold.1
- A 2,550 m, nine-hole geotechnical drill program to improve the understanding of the hydrogeology, including water volume and quality at Palmer.
- On-going camp construction to support seasonal exploration activities.
- Environmental and permitting, including on-going environmental baseline studies and compliance work.
- Engineering studies, including metallurgical programs on the Southwall and RW Zone mineralization, a production site evaluation that provides an alternate production portal, mill and tailing management analysis, and ongoing preparations for a feasibility study.
"American Pacific has a roughly $65 million CAD market capitalization and will see more than $30 million CAD spent by its partner on exploration and development in 2023," stated Warwick Smith CEO and Director of American Pacific. "This is the single largest Palmer Project program and budget to date and sets the stage for us to continue de-risking the asset as we work with our joint venture partner to strategically move the Palmer Project forward towards a feasibility study."
The Company's joint venture partner, Dowa Metals & Mining Co., Ltd., has committed to fund the entire 2023 program. American Pacific has the option to pay its pro-rata share of 2023 program expenses, in whole or in part, prior to October 31, 2023, to minimize or eliminate Project dilution. Dilution is pro-rated according to each party's relative contributions to Project expenditures and will be determined upon completion of the 2023 program. American Pacific is the operator of the Project and will receive seven percent (7%) of program expenditures for managing the 2023 work program.
Qualified Person Statement
The technical information in this news release has been reviewed and approved by Michael Vande Guchte, P.Geo., VP Exploration for the Palmer Project and a qualified person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects.
About the Palmer Project
The Palmer Project is a promising advanced-stage high-grade volcanogenic massive sulphide-sulphate ("VMS") project located within the Porcupine Mining District of the Haines Borough, Alaska. The Project is operated in a joint venture partnership between American Pacific, through its wholly owned subsidiary, Constantine North Inc. as the manager (operator), with 41% ownership and Dowa Metals & Mining Co., Ltd (Dowa), with 59% ownership.
As of December 31, 2022, US$68.7 million has been invested in exploration work and environmental programs to responsibly advance the Project. Palmer, which hosts a National Instrument 43-101 compliant mineral resource of 4.68 million tonnes of 10.2% zinc equivalent (3.9% copper equivalent) in the indicated category and 9.59 million tonnes of 8.9% zinc equivalent (3.4%) copper equivalent) in the inferred category. A Preliminary Economic Assessment ("PEA") was completed in June 2019 (filed July 18, 2019, amended March 7, 2022; filed on ), which presents a low capex, low operating cost and a post-tax NPV of US$266 million.
The Amended PEA is preliminary in nature and includes inferred mineral resources that are considered too speculative geologically to have economic considerations applied to them that would enable them to be categorized as mineral reserves. There is no certainty that amended PEA results will be realized. Mineral resources that are not mineral reserves do not have demonstrated economic viability.
About American Pacific Mining Corp.
American Pacific Mining Corp. is a precious and base metals explorer and developer focused on opportunities in the Western United States. The Company has two flagship assets; a 14 million tonne, high-grade, Palmer Volcanic Massive Sulfide (VMS) project in Alaska, under joint-venture partnership with Dowa Metals & Mining, owner of Japan's largest zinc smelter and the Company is also partnered with Kennecott Exploration, a division of the Rio Tinto Group, on the past-producing Madison Copper-Gold project in Montana. For the Madison transaction, American Pacific was selected as a finalist in both 2021 and 2022 for 'Deal of the Year' at the S&P Global Platts Global Metals Awards, an annual program that recognizes exemplary accomplishments in 16 performance categories. Also in American Pacific's asset portfolio are the Gooseberry Silver-Gold project and the Tuscarora Gold-Silver 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 American Pacific Mining Corp Board of Directors:
Warwick Smith, CEO & Director
Corporate Office: Suite 910 – 510 Burrard Street Vancouver, BC, V6C 3A8 Canada
Investor relations contact:
Kristina Pillon, High Tide Consulting Corp.,
604.908.1695 / Kristina@americanpacific.ca
Media relations contact:
Adam Bello, Primoris Group Inc.,
416.489.0092 / media@primorisgroup.com
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.
1 Amended NI 43-101 Technical Report Palmer Project Alaska, USA, JDS Energy and Mining Inc. 2019
温哥华,不列颠哥伦比亚省,2023年4月24日(环球通讯社)美国太平洋矿业公司(CSE:USGD/OTCQX:USGDF/FWB:1QC)(“American Pacific”或“公司”)很高兴宣布2023年帕尔默项目的预算和工作计划(“帕尔默“或”项目),一种高级火山成因块状硫化物(VMS“)位于阿拉斯加州海恩斯区豪猪矿区内的项目。
Palmer项目的2023年工作计划是多用途的,耗资2550万美元,包括地面勘探钻探计划、岩土钻探、营地建设、正在进行的基线环境和现场工程工作。
2023年帕尔默工作计划重点:
- 位于南墙区的9,000米(“m”)资源加密钻探计划,旨在开始将Palmer的矿产资源从推断升级到测量和指示的过程。Palmer矿床(南墙和RW区)目前包括指示的矿产资源#。468万吨锌品位5.23%,铜品位1.49%,银品位30.0克/吨,金品位0.30克/吨,推断矿产资源534万吨锌品位5.20%,铜品位0.96%,银品位29.2g/t,金品位0.28g/t。1
- 一个2550米的九孔岩土钻探计划,以提高对Palmer的水文地质,包括水量和质量的了解。
- 正在进行营地建设,以支持季节性探险活动。
- 环境和许可,包括正在进行的环境基线研究和合规工作。
- 工程研究,包括关于南墙和RW区矿化的冶金项目,提供替代生产门户的生产现场评估,磨矿和尾矿管理分析,以及正在进行的可行性研究准备工作。
美国太平洋公司首席执行官兼董事首席执行官华威·史密斯表示:“美国太平洋公司的市值约为6,500万加元,2023年其合作伙伴在勘探和开发方面的支出将超过3,000万加元。”这是迄今为止规模最大的帕尔默项目计划和预算,为我们在与合资伙伴合作、从战略上推动帕尔默项目进行可行性研究时继续降低资产风险奠定了基础。“
该公司的合资伙伴道瓦金属矿业有限公司已承诺为整个2023年计划提供资金。美国太平洋公司可以选择在2023年10月31日之前按比例支付2023年计划费用的全部或部分,以最大限度地减少或消除项目稀释。摊薄是根据每个缔约方对项目支出的相对贡献按比例分配的,并将在2023年计划完成时确定。美国太平洋公司是该项目的运营方,将获得管理2023年工作计划的7%(7%)的计划支出。
合资格人士报表
本新闻稿中的技术信息已由国家仪器43-101定义的国家仪器43-101定义的合格人员、Palmer项目勘探副总裁P.Geo Michael Vande Guchte审核和批准。《矿产项目信息披露标准》。
关于帕尔默项目
帕尔默项目是一个很有前途的高级火山成因块状硫化物(“VMS“)该项目位于阿拉斯加州海恩斯区的波丘派恩矿区内。该项目由美国太平洋公司通过其全资子公司康斯坦丁北方公司作为管理者(运营商)和道瓦金属矿业有限公司(道瓦)(拥有59%股权)的合资伙伴关系运营。
截至2022年12月31日,已投资6870万美元用于勘探工作和环境项目,以负责任地推进该项目。Palmer拥有符合National Instrument 43-101标准的矿产资源468万吨,指示类别为10.2%锌当量(3.9%铜当量),推断类别为959万吨8.9%锌当量(3.4%铜当量)。初步经济评估(“豌豆“)于2019年6月完成(2019年7月18日提交,2022年3月7日修订;提交),呈现出低资本支出、低运营成本和2.66亿美元的税后净现值。
经修订的PEA是初步性质的,包括被认为在地质上过于投机的推断矿产资源,因此无法将其归类为矿产储量。修正后的PEA结果是否会实现并不确定。不属于矿产储备的矿产资源没有显示出经济可行性。
关于美国太平洋矿业公司
美国太平洋矿业公司是一家贵金属和贱金属勘探和开发商,专注于美国西部的机会。该公司拥有两项旗舰资产:一个位于阿拉斯加的1400万吨高品位Palmer火山块状硫化物(VMS)项目,该项目与日本最大锌冶炼厂的所有者Dowa Metals&Mining建立了合资伙伴关系;此外,该公司还与力拓集团旗下的肯尼科特勘探公司合作,在蒙大拿州开发了过去生产的Madison铜金矿项目。对于麦迪逊的交易,美国太平洋公司在2021年和2022年都入围了标准普尔全球普氏全球金属奖(S&P Global Platts Global Metals Awards)的年度最佳交易奖,这是一个年度计划,表彰16个表现类别的杰出成就。美国太平洋公司的资产组合还包括Gooseberry Silver-Gold项目和Tuscarora Gold-Silver项目:这两个高品位贵金属项目位于美国内华达州的主要矿区。公司的使命是通过钻头和收购实现增长。
我代表美国太平洋矿业公司董事会:
沃里克·史密斯、首席执行官兼董事
公司办公室:加拿大卑诗省温哥华Burrard Street 910-510套房,邮编:V6C 3A8
投资者关系联系人:
High Tide咨询公司的克里斯蒂娜·皮隆,
604.908.1695/kristina@americanpacilli.ca
媒体关系联系人:
亚当·贝洛,Primoris Group Inc.
416.489.0092/media@primorisgroup.com
CSE既没有批准也没有不批准本新闻稿的内容。CSE及其监管服务提供商(该术语在CSE的政策中定义)均不对本新闻稿的充分性或准确性承担责任。
1修订的NI 43-101技术报告美国阿拉斯加帕尔默项目,JDS能源和矿业公司2019年