VANCOUVER, British Columbia, April 17, 2018 (GLOBE NEWSWIRE) — American Pacific Mining Corp (CSE:USGD) (FWB:1QC) (OTCPK:USGDF) (“APM” or the “Company”) is pleased to announce the Company has received the Notice of Intent from the Bureau of Land Management (“BLM”) for permission to drill the Tuscarora Gold Project. An approximate 19-hole staged drill program is set to commence shortly and an announcement will be made when drill contractors have been mobilized to site.
“We are very excited to receive this drill permit so expeditiously from the BLM. This important milestone allows us to proceed relatively quickly with our program at Tuscarora,” said Eric Saderholm, President of APM. “The plan is to drill test two known zones, the South Navajo Vein Zone where most of the historic drilling took place, and the East Pediment Zone, where Newcrest drilled in the late 90’s and hit, for example, 3 meters at 28 grams per ton gold.”
Core drilling and analytical methodologies will be utilized to accommodate coarse gold and hopefully improve the understanding of the geometry and grade potential of the veins. American Pacific has paid to the BLM’s Nevada State Office a reclamation bond for the amount of US$20,000.
Tuscarora Gold Project, Elko County, Nevada USA
American Pacific has an option to acquire 100 per-cent of the Tuscarora Gold Project from NOVO Resources (refer to the March 5, 2018 press release for more information). The Tuscarora project is an early stage, high-grade, epithermal vein system located approximately 90 km northwest of Elko Nevada.
Since the early 1980’s, the Tuscarora district has seen sustained exploration efforts from companies such as Shell Oil, Hecla Mining, Northern Dynasty, Horizon Gold and Chevron. Horizon produced 39,976 ounces of gold and 254,660 ounces of silver from the Dexter Open Pit between 1988 and 1991. Into the 90’s and early 2000’s, Newcrest followed by Newmont/Franco-Nevada conducted exploration programs that indicated many vein occurrences within the Tuscarora District.
Tuscarora is within a large and well-documented low-sulfidation, epithermal, gold-silver District. In its early years, the District was considered one of the more significant gold producing areas in northern Nevada. Since the 1980’s, the gold-dominant, high-grade vein portion of the District has emerged, with the highest grade results occurring in the South Navajo Vein area, and strong indications of potentially significant veins in the East Pediment.
Newcrest drilled both the South Navajo Vein Zone and the East Pediment Zone with a highlight table below:
|Zone||Hold ID||Interval (ft)||Interval (m)||Gold Grade (g/t)||Year|
|Navajo/South Navajo Vein||TCN2||5||1.5||30||1995|
|Navajo/South Navajo Vein||TCN3||5||1.5||5.3||1995|
|Navajo/South Navajo Vein||TN38||5||1.5||182||1998|
|Navajo/South Navajo Vein||TN40||5||1.5||19||1998|
|Navajo/South Navajo Vein||TN54||5||1.5||51||1998|
Table: Reported drill intercepts of select target zones in the Tuscarora Property (McCusker, 1999)
The assay values demonstrate narrow and somewhat discontinuous shoots of high-grade gold. NOVO Resources also drilled the property in 2016, for more information on those results, please refer to the press release dated March 8, 2018.
Technical aspects of this press release have been reviewed and approved by Mr. Eric Saderholm, P.Geo., the designated Qualified Person (QP) under National Instrument 43-101.
American Pacific Mining Corp. is a new 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: email@example.com 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://resource.globenewswire.com/Resource/Download/bf616364-33d3-4106-9aeb-6c998ee95e1a