Vancouver, British Columbia / August 4, 2021 - American Pacific Mining Corp (CSE: USGD / OTCQB: USGDF / FWB: 1QC) (“American Pacific” or the “Company”) is pleased to report that Kennecott Exploration Company (“Kennecott”), a division of the Rio Tinto Group (“Rio Tinto”), has commenced an Unmanned Aerial Vehicle (“UAV”) Magnetic Survey over American Pacific’s past-producing Madison Copper-Gold Project (the “Madison Project”) that is focused on defining a detailed magnetic signature of the Madison Limestone-Rader Creek intrusive contact. The detailed magnetic signature of the contact area will provide precise skarn hosted drill targets. American Pacific has a joint venture earn-in agreement with Rio Tinto, whereby Rio Tinto may spend US$30 million to earn up to 70% of the Madison Project, located in Montana, USA.
A geophysical service, which provides UAV-based magnetic surveying for mineral exploration worldwide, is currently flying the orthophoto component of the drone magnetics survey at Madison. The orthophoto and DTM (Digital Terrain Model) will be completed at ~150 metres elevation prior to conducting the magnetic survey which will be flown at 25 metres. Survey lines will be spaced 25 metres apart over the sedimentary formations and 50 metres spacing over the remaining property in its entirety.
“In addition to providing more detailed signature data near the past producing mine area, this property wide magnetic survey will also support new target generation across our entire property package. The recent trench results two kilometres from the Madison Mine support our belief that the regional potential at Madison is excellent, and this new mag data will help define additional areas of interest,” states Eric Saderholm, President of American Pacific.
Figure 1. Photograph of UAV
Technical aspects of this press release have been reviewed and approved by Phil Mulholland, P.Geo and Eric Saderholm, P.Geo., the designated Qualified Persons (QP) under NI 43-101.
About American Pacific Mining Corp.
American Pacific Mining Corp. is a precious metals explorer focused on opportunities in the Western United States. The Company's flagship asset is the high-grade, past-producing Madison Copper-Gold project in Montana, under option to joint venture with Kennecott Exploration Company, a division of the Rio Tinto Group, which the Company acquired in 2020. For this transaction, American Pacific has been selected as a finalist in the S&P Global Platts Global Metals Awards, an annual program that recognizes exemplary accomplishments in 16 performance categories, including 'Deal of the Year,' the category in which American Pacific Mining is competing. The awards program is hosted by S&P Global Platts, the leading independent provider of information and benchmark prices for the commodities and energy markets. Also in the American Pacific's asset portfolio are the Gooseberry Gold-Silver project and the Tuscarora Gold 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 Board of American Pacific Mining Corp.
CEO & Director
Corporate Office: Suite 910 – 510 Burrard Street Vancouver, BC, V6C 3A8 Canada
Contact Kristina Pillon, President, High Tide Consulting Corp., 604.908.1695 / Kristina@americanpacific.ca
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