World News: 09:00 GMT Wednesday 14th August 2019. [American Pacific Mining Corp. via Globe Newswire via SPi World News]
VANCOUVER, British Columbia, Aug. 14, 2019 (GLOBE NEWSWIRE) -- American Pacific Mining Corp (CSE: USGD / FWB: 1QC / OTCPK: USGDF) (“APM” or the “Company”) is pleased to announce that the Gravity and CSAMT, key geophysical ground surveys conducted at the Company’s Tuscarora Gold Project, are now complete. OceanaGold have now updated the geophysics and the 3D model, and in doing so have identified a number of target areas within the Tuscarora project area.
Tuscarora is a high-level, epithermal gold/silver district containing numerous precious metal veins within the project area. Mineralization is coeval with that found in the nearby world-class Carlin and Cortez Trends but differs in that it is hosted in a 40-million-year-old volcanic rock sequence on the flanks of an ancient caldera. Historic drilling along the South Navajo Zone has intersected high-grade mineralization from the South Navajo Vein, just one of many veins that project into the property and are covered by pediment gravels.
Previous drill campaign highlights are provided in the tables below.
The veins that trend towards the Tuscarora claim-block in addition to the South Navajo Vein include the East Pediment, Grand Prize, Dufreeze, Independence, Schoolhouse, Navajo Hill, King’s, Modoc Hill and Battle Hill vein sets. All but the Battle Hill vein sets are untested or minimally tested throughout the district.
In the early 1980’s shallow definition drilling in the Dexter Pit area proved that mineralization exists within other veins that are located on the Tuscarora property. The Schoolhouse vein yielded intercepts of 9.34 grams/ton over 4.6 meters, 8.81 grams/ton over 6.1 meters and 6.8 grams/ton over 24.4 meters.
Historic exploration efforts have focused on the interpretation that all veins are parallel to the South Navajo Vein. The Navajo Vein system has a NNW trend and dips to the west, with past drilling directed towards the east to intersect the vein. The newly interpreted geophysical data, in addition to geologic mapping, indicates that there are several structural trends ranging from NE to NS to NW-trending, and that dips are both east and west. This is typical of radial and ring faults found worldwide in other volcanic/caldera complexes similar to Tuscarora. No past drilling has addressed the east-dipping structures and no holes in the district have ever been drilled to the west to intersect this structural trend. The newly defined target areas have very little drill data and open up entirely new project-wide exploration potential.
“The exploration targets at Tuscarora include the East Pediment Zone and the numerous other veins, faults and structures that project into the pediment gravels within the Tuscarora property” commented Eric Saderholm, APM’s President. “The newly interpreted structural trends are an exciting development and the proof-of-concept drilling beginning in August 2019 will further define the mineralization controls and help vector future exploration.”
For more info on Tuscarora visit this link: .
The Company would also like to announce that APM has entered into an arm's-length agreement with Clarkham Capital´s Investor media and social media services for a period of three months.
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 amidst gold’s next bull market.
OceanaGold Corporation is a mid-tier, high-margin, multinational gold producer with assets located in the Philippines, New Zealand and the United States. The Company’s assets encompass the Didipio Gold-Copper Mine located on the island of Luzon in the Philippines. On the North Island of New Zealand, the Company operates the high-grade Waihi Gold Mine while on the South Island of New Zealand, the Company operates the largest gold mine in the country at the Macraes Goldfield which is made up of a series of open pit mines and the Frasers underground mine. In the United States, the Company operates the Haile Gold Mine, a top-tier, long-life, high-margin asset located in South Carolina. OceanaGold also has a significant pipeline of organic growth and exploration opportunities in the Americas and Asia-Pacific regions.
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.
Photos accompanying this announcement are available at:
Globe Newswire: 09:00 GMT Wednesday 14th August 2019
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