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
溫哥華,不列顛哥倫比亞省,2023年4月24日(環球通訊社)美國太平洋礦業公司(CSE:USGD/OTCQX:USGDF/FWB:1QC)(“American Pacific”或“公司”)很高興宣佈2023年帕爾默專案的預算和工作計劃(“帕爾默“或”專案),一種高級火山成因塊狀硫化物(VMS“)位於阿拉斯加州海恩斯區豪豬礦區內的專案。
Palmer專案的2023年工作計劃是多用途的,耗資2550萬美元,包括地面勘探鑽探計劃、岩土鑽探、營地建設、正在進行的基線環境和現場工程工作。
2023年帕爾默工作計劃重點:
- 位於南牆區的9,000米(“m”)資源加密鑽探計劃,旨在開始將Palmer的礦產資源從推斷升級到測量和指示的過程。Palmer礦床(南牆和RW區)目前包括指示的礦產資源#。468萬噸鋅品位5.23%,銅品位1.49%,銀品位30.0克/噸,金品位0.30克/噸,推斷礦產資源534萬噸鋅品位5.20%,銅品位0.96%,銀品位29.2g/t,金品位0.28g/t。1
- 一個2550米的九孔岩土鑽探計劃,以提高對Palmer的水文地質,包括水量和質量的瞭解。
- 正在進行營地建設,以支持季節性探險活動。
- 環境和許可,包括正在進行的環境基線研究和合規工作。
- 工程研究,包括關於南牆和RW區礦化的冶金專案,提供替代生產門戶的生產現場評估,磨礦和尾礦管理分析,以及正在進行的可行性研究準備工作。
美國太平洋公司首席執行官兼董事首席執行官華威·史密斯表示:“美國太平洋公司的市值約為6,500萬加元,2023年其合作夥伴在勘探和開發方面的支出將超過3,000萬加元。”這是迄今為止規模最大的帕爾默專案計劃和預算,為我們在與合資夥伴合作、從戰略上推動帕爾默專案進行可行性研究時繼續降低資產風險奠定了基礎。“
該公司的合資夥伴道瓦金屬礦業有限公司已承諾為整個2023年計劃提供資金。美國太平洋公司可以選擇在2023年10月31日之前按比例支付2023年計劃費用的全部或部分,以最大限度地減少或消除專案稀釋。攤薄是根據每個締約方對專案支出的相對貢獻按比例分配的,並將在2023年計劃完成時確定。美國太平洋公司是該專案的運營方,將獲得管理2023年工作計劃的7%(7%)的計劃支出。
合資格人士報表
本新聞稿中的技術資訊已由國家儀器43-101定義的國家儀器43-101定義的合格人員、Palmer專案勘探副總裁P.Geo Michael Vande Guchte審核和批准。《礦產專案資訊披露標準》。
關於帕爾默專案
帕爾默專案是一個很有前途的高級火山成因塊狀硫化物(“VMS“)該專案位於阿拉斯加州海恩斯區的波丘派恩礦區內。該專案由美國太平洋公司通過其全資子公司康斯坦丁北方公司作為管理者(運營商)和道瓦金屬礦業有限公司(道瓦)(擁有59%股權)的合資夥伴關係運營。
截至2022年12月31日,已投資6870萬美元用於勘探工作和環境專案,以負責任地推進該專案。Palmer擁有符合National Instrument 43-101標準的礦產資源468萬噸,指示類別為10.2%鋅當量(3.9%銅當量),推斷類別為959萬噸8.9%鋅當量(3.4%銅當量)。初步經濟評估(“豌豆“)於2019年6月完成(2019年7月18日提交,2022年3月7日修訂;提交),呈現出低資本支出、低運營成本和2.66億美元的稅後淨現值。
經修訂的PEA是初步性質的,包括被認為在地質上過於投機的推斷礦產資源,因此無法將其歸類為礦產儲量。修正後的PEA結果是否會實現並不確定。不屬於礦產儲備的礦產資源沒有顯示出經濟可行性。
關於美國太平洋礦業公司
美國太平洋礦業公司是一家貴金屬和賤金屬勘探和開發商,專注於美國西部的機會。該公司擁有兩項旗艦資產:一個位於阿拉斯加的1400萬噸高品位Palmer火山塊狀硫化物(VMS)專案,該專案與日本最大鋅冶煉廠的所有者Dowa Metals&Mining建立了合資夥伴關係;此外,該公司還與力拓集團旗下的肯尼科特勘探公司合作,在蒙大拿州開發了過去生產的Madison銅金礦專案。對於麥迪遜的交易,美國太平洋公司在2021年和2022年都入圍了標準普爾全球普氏全球金屬獎(S&P Global Platts Global Metals Awards)的年度最佳交易獎,這是一個年度計劃,表彰16個表現類別的傑出成就。美國太平洋公司的資產組合還包括Gooseberry Silver-Gold專案和Tuscarora Gold-Silver專案:這兩個高品位貴金屬專案位於美國內華達州的主要礦區。公司的使命是通過鑽頭和收購實現增長。
我代表美國太平洋礦業公司董事會:
沃裡克·史密斯、首席執行官兼董事
公司辦公室:加拿大卑詩省溫哥華Burrard Street 910-510套房,郵編:V6C 3A8
投資者關係聯繫人:
High Tide諮詢公司的克裡斯蒂娜·皮隆,
604.908.1695/kristina@americanpacilli.ca
媒體關係聯繫人:
亞當·貝洛,Primoris Group Inc.
416.489.0092/media@primorisgroup.com
CSE既沒有批准也沒有不批准本新聞稿的內容。CSE及其監管服務提供商(該術語在CSE的政策中定義)均不對本新聞稿的充分性或準確性承擔責任。
1修訂的NI 43-101技術報告美國阿拉斯加帕爾默專案,JDS能源和礦業公司2019年