VANCOUVER, British Columbia, June 13, 2018 (GLOBE NEWSWIRE) -- American Pacific Mining Corp (CSE:USGD) (FWB:1QC) (OTCPK:USGDF) (“APM” or the “Company”) is pleased to announce that the initial phase of drilling at the Tuscarora Gold Project in Elko Nevada has expanded from a planned 10-12 holes to a total of 16 drill holes. Approximately 7,800 feet of drilling is underway in the first stage of the program with samples being submitted to ALS Global in Elko, Nevada for analysis.
Eric Saderholm, President of American Pacific, commented: “Drilling has been going well so we decided to expand the first phase of the program. We look forward to receiving the first set of assays from the lab and developing a 3D model of the property to show our stakeholders in a visual manner the high-grade gold potential at Tuscarora. Further exploration of the district will continue throughout 2018 and 2019.”
To view a drone video of the Phase 1 drilling at the Tuscarora Gold Project, click here: Tuscarora Drone Video.
The Tuscarora district produced over 244,000 ounces of gold and 7,632,000 ounces of silver between 1867 and 1990. Horizon Gold Corp and Chevron produced approximately 40,000 ounces of gold and 254,660 ounces of silver from the Dexter Open Pit between 1989 and 1991. The district contains gold and silver mineralization associated with high-level epithermal quartz-adularia veins. Gold and silver mineralization is directly attributed to igneous activity and numerous structures that formed along the southeast margin of the Mount Blitzen volcanic complex 39 million years ago, the age of the Carlin Trend mineralization.
The northern portion of the Tuscarora Property contains the silver-rich portion of the historic precious metals district. Veins in the northern area typically contain high Ag:Au ratios (>100:1) in quartz-carbonate veins. South of the silver-rich veins lies the gold-rich portion of the district including the historic Dexter Mine and the Tuscarora Property, currently being explored by American Pacific Mining. The entire area displays widespread hydrothermal alteration and oxide mineralization associated with stockwork veining and brecciation in tuffs and volcaniclastic rocks.
For more information on the Tuscarora Gold Project, in Elko Nevada click here.
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 Us
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.
"Warwick Smith"
CEO & Director
Corporate Office: Suite 910 – 510 Burrard Street Vancouver, BC, V6C 3A8 Canada
Investor Relations: investor@americanpacific.ca Phone: 1-866-646-5389
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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A video accompanying this release is available at
http://www.globenewswire.com/NewsRoom/AttachmentNg/c6783e71-07be-426b-9347-def01db8b145