VANCOUVER, British Columbia, June 28, 2018 (GLOBE NEWSWIRE) -- American Pacific Mining Corp (CSE:USGD) (FWB:1QC) (OTCPK:USGDF) (“APM” or the “Company”) is pleased to announce the initial results from the summer drill program at the Tuscarora Gold Project in Elko, Nevada. Highlights from the first five holes are reported below, including high-grade intercepts from the oxide mineralization known as the South Navajo Vein Zone.
- APTU18-009 (RC) intersected 3 meters at 9.39 g/t gold
(including 1.5 meters at 16.0 g/t gold)
- APTU18-001 (Core) intersected 1.1 meters at 9.22 g/t gold
- APTU18-005 (Core) intersected 0.5 meters at 4.01 g/t gold
Three holes contained intervals of high merit, 001, 005 and 009, with a table of highlight results below.
|Type||From m||To m||Interval m||From ft||To ft||Interval ft||Au g/t|
|APTU18-002||no significant intervals|
|APTU18-004||no significant intervals|
Eric Saderholm, President of American Pacific Mining, commented: “We are really pleased with these initial results at Tuscarora. We hit the bedrock zone approximately where we anticipated hitting it, and the significant intervals of high-grade are consistent with those seen in previous drill campaigns. It is particularly encouraging to see that hole APTU18-009, where we encountered 3 meters of 9.39 g/t including 1.5 meters of 16.0 g/t gold, was not a twinned hole, but rather was located 60 meters north of previously drilled areas.”
“Assays are pending from eleven remaining holes, and after receiving these we will begin to develop a 3D model and a timeline for Phase 2 drilling,” commented Warwick Smith, CEO of American Pacific Mining. “There is a lot of unexplored acreage at Tuscarora, we look forward to continuing exploration on the Navajo Vein, the East Pediment Zone and between these zones where there is a further chance for gold discovery.”
American Pacific is now in the process of separating out high-grade samples to be re-assayed via Screen Metallic Analysis to compare to the Fire Assay results. In the past, previous operators saw some assays had a wide variance of grade when comparing Fire Assays to Screen Metallic. This is quite common in higher grade vein systems containing coarse gold. Screen Metallic analysis determines the content in both the coarse and fine material after the screening process, whereby the coarse material analysis is done separately, with the fine material usually analyzed in duplicate to achieve an average value. For systems with coarse gold Screen Metallic Analysis can be a more accurate and representative method of analysis. All samples that return 1 gram or better in the fire assay will be re-analyzed using this Screen Metallic method. Screen Metallic and duplicate assay work will be performed by the accredited ALS Global Laboratory.
All assay numbers are reported as un-cut and all intercepts are reported as drill width and are not to be interpreted as true widths.
For more information on the Tuscarora Gold Project, in Elko Nevada click here.
The Company is also granting 300,000 stock options at $0.25 (5 year expiry term), to consultants of the company subject to exchange approval.
For QA/QC purposes all holes were surveyed using a down-hole survey tool by International Directional Services (IDS) locate in Elko NV. Duplicate and check assays will be run on both lower and higher grade samples using an independent lab, American Assay Laboratories, located in Elko NV. These samples are being chosen from each hole to verify and compare the accuracy of the original assays as results are received from ALS Global. Screen Metallic assays will be done on samples with grades higher than 1 g/t Au.
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.
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/5082435e-d514-4bea-b82e-61acc16de7bc