VANCOUVER, British Columbia, Sept. 16, 2019 (GLOBE NEWSWIRE) -- American Pacific Mining Corp (CSE: USGD / FWB: 1QC / OTCPK: USGDF) (“APM” or the “Company”) is pleased to announce that drilling has commenced at the Tuscarora Gold Project in Elko Nevada. OceanaGold Corporation, operators at the project, have contracted National EWP out of Elko Nevada to reverse circulation (“rc”) drill an approximate 4000 meters at the property, or around 10 holes.
“The upcoming drill campaign will primarily focus on following up the priority targets defined from the recent CSAMT, gravity and geological mapping programs conducted by OceanaGold,” commented Eric Saderholm, President & Director of APM. “Drilling will test targets east and west of the South Navajo Vein, which has numerous historic drill holes. The Navajo vein dips to the west and the newly interpreted geophysical data indicate potential parallel east-dipping structures which have never been realized or explored in the past.”
The below long section depicts a selection of intercepts from the South Navajo Vein’s previous drill campaign highlights.
Long Section of the South Navajo Vein, Tuscarora Gold Project, Elko Nevada
Previous drill results found at this link https://americanpacific.ca/projects/tuscarora/ have displayed high-grade intervals of gold mineralization in a low sulphidation, epithermal system.
The Tuscarora District lies at the foot of Mount Blitzen on the eastern slope of the Northern Tuscarora Range. The Property has a relatively low silver to gold ratio and almost no base metals. Tuscarora lies in the gold-rich, southern portion of the District, and clearly displays quartz-adularia veins and stockwork associated with the dacitic intrusives and structures formed along the southeast margin of Mount Blitzen. This zone underwent local boiling and shows widespread silicification and adularization along with quartz-adularia veins, stockwork veining, and vug-fills in tuffs and fine-grained epiclastic rocks. The silver-rich portion of the District occurs immediately north of the project.
The State of Nevada is the USA’s top gold producing state, producing 5.47 million troy ounces of gold in 2016, 81% of the US total (Source: Major Mines of Nevada, by Rich Perry and Mike Visher).
Qualified Person
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.
About American Pacific Mining Corp.
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.
About OceanaGold Corp.
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.
On Behalf of the Board of American Pacific Mining Corp.
"Warwick Smith"
CEO & Director
Corporate Office: Suite 910 – 510 Burrard Street Vancouver, BC, V6C 3A8 Canada
Contact MarketSmart: 1.877.261.4466 info@marketsmart.ca
Forward-looking Information
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.
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