VANCOUVER, British Columbia, Aug. 15, 2018 (GLOBE NEWSWIRE) -- American Pacific Mining Corp (CSE: USGD / FWB: 1QC / OTCPK: USGDF) (“APM” or the “Company”) is pleased to announce assays of the remaining 11 holes from the Phase 1 drill program at the Tuscarora Gold Project in Elko Nevada. The property is a 1,818 acre land package containing a series of high-grade vein systems and stockworks, optioned from NOVO Resources in late 2017. American Pacific Mining has drilled a total of 3,143 meters in 16 holes focusing on the South Navajo zone, with highlights from the final results as follows:
- APTU18-013: 1.5m at 10.30 g/t Au (drilled in an area approximately 450 meters north of main South Navajo zone)
- APTU18-015: 12.2m at 3.44 g/t Au (including 1.5m at 18.40 g/t Au)
- APTU18-015: 13.7m at 1.74 g/t Au
- APTU18-016: 6.1m at 2.06 g/t Au
- APTU18-016: 9.1m at 5.88 g/t Au (including 3m at 13.42 g/t Au)
“I’m extremely pleased with these initial drill results. Assays have confirmed the historic results while also displaying a new level of disseminated mineralization on the property and adding considerable strike length to the mineralization. The focus of this project will expand to the other veins and structures that we know exist at Tuscarora, but have yet to be drill-tested,” commented Warwick Smith, CEO of American Pacific Mining.
“High-grade intervals from this latest round of drilling confirm the heart of the South Navajo zone, with the most positive results coming from holes 13, 15 and 16,” commented Eric Saderholm, President of American Pacific Mining. “Hole 13 was very significant as it was in an area that had not seen a positive drill result before. This was a wildcat hole that intercepted 1.5 meters of 10.30 g/t Au, extending the known strike length of the Navajo Vein system by approximately 450 meters to the north, opening up a large area for future drill testing. Hole 15 encountered 1.5 meters of 18.40 g/t Au, further confirming the high grades in the South Navajo area. Finally, hole 16 was well-mineralized, hitting a 9.1 meter interval of 5.88 g/t Au at the bottom of the hole from 195 meters.” Mr. Saderholm continued: “Drilling has proven that the cross-faults and structural intersections are well-mineralized and worthy of further exploration for what is mostly oxidized mineralization.”
It should also be noted that the Company has yet to assay any mineralized intervals for silver. This work is in progress and expected to add to the value of the gold intercepts.
The known strike length of the South Navajo vein is estimated to be 1 mile long. A table of short intervals, sorted by grade, for samples returning over 1 g/t Au is also included at the end of this release. Below is a table of highlight intervals from the APM Tuscarora Drill Campaign, Phase 1.
Tuscarora 2018 Drill Highlights (Highlights from Holes 1,2,3,5 and 9 previously reported on June 28, 2018)
|Type||Hole ID||From (m)||To (m)||Interval (m)||Grade (g/t|
True widths of vein mineralization are difficult to determine from the Phase 1 drilling. Samples were analyzed via Gravimetric Finish (Au-GRA22), recommended for systems containing significant course gold concentrations.
In the near future a CSAMT program will further delineate priority drill targets on the Tuscarora property (refer to this press release American Pacific Mining Identifies Additional Vein Targets at Tuscarora dated July 18, 2018.)
Please visit https://americanpacific.ca/projects/tuscarora/ for maps and sections related to this plan map.
Tuscarora is a high-grade gold project located in a prime precious metals district in Nevada, only 35km northeast of the Carlin trend, 20km southwest of the Jerritt Canyon deposit, and 50km east-northeast of the Midas deposit. The project is a low-sulfidation, epithermal gold property, with previous operators intersecting high-grade intervals that included 3m at 182 g/t Au in quartz-adularia veins at relatively shallow depths. The Tuscarora Mining District is within a major gold producing region of Nevada. Placer gold was discovered in the district in 1867 and production of silver-gold lode deposits began in 1875 (LaPointe, et al., 1991). Total precious metal production between 1867 and 1990 consists of 244,000 ounces of gold and 7,632,000 ounces of silver from quartz veins and quartz stockwork mineralization.
Near the end of the 1900’s, mining began in the low silver, high-grade gold, southern part of the district. The Dexter mine, located immediately south of town, had the most production; approximately 40,000 ounces of gold and 100,000 ounces of silver, between 1897 and 1935 (Nolan, 1936 and LaPointe, et al., 1991). After 1905, almost all of the district-production came from the Dexter Pit.
Quality Assurance (QA) and Quality Control (QC)
Assays grading greater than 1 gram/ton have been resubmitted to ALS Global for Screen Metallic assay verification. In addition, a suite of sample pulps at the minimum of one sample every 100 feet of drilling have been submitted to an independent assay lab for re-assay. A suite of the higher grade pulps from intercepts ranging from 1 g/ton to 18.4 g/ton were also submitted to an independent lab for analysis. All hole collars were surveyed by a licensed Nevada surveyor and tight controls were established on the property for further programs. The surveyed collars are currently being incorporated into the existing database in preparation for a 3D model. All holes were surveyed down-hole by IDS for reverse circulation drill holes or using a down-hole survey tool for the core drilling. Independent lab assays are pending and will be reported when received.
Technical aspects of this press release have been reviewed and approved by Eric Saderholm, P.Geo., the designated Qualified Person (QP) under National Instrument 43-101.
American Pacific Mining Corp. is a gold explorer focused on precious metal opportunities in the Western United States. Tuscarora is a high-grade, early stage gold project located in a prime precious metal district in Nevada, only 35km northeast of the Carlin trend, 20km southwest of the Jerritt Canyon deposit, and 50km east-northeast of the Midas deposit. American Pacific is Eyeing a Gold Discovery amidst gold’s next bull market.
Short Intervals of all Samples Returning over 1 g/t Au, sorted by Grade
|APM Drill Sample ID||From (m)||To (m)||Interval (m)||Au g/t|
On Behalf of the Board of American Pacific Mining Corp.
CEO & Director
Corporate Office: Suite 910 – 510 Burrard Street Vancouver, BC, V6C 3A8 Canada
Investor Relations: firstname.lastname@example.org Phone: 1-866-646-5389
Some statements in this news release contain forward-looking information (within the meaning of Canadian securities legislation) including, without limitation, statements as to planned exploration activities and the expected timing of the receipt of results. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, without limitation, customary risks of the mineral resource industry as well as the performance of services by third parties.
Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "aims," "potential," "goal," "objective," "prospective," and similar expressions, or that events or conditions "will," "would," "may," "can," "could" or "should" occur, or are those statements, which, by their nature, refer to future events. The Company cautions that Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made and they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.
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.
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/34291ffc-7c50-425d-a96d-aa0fab5dbc6e