SAN FRANCISCO, Jan. 23, 2019 (GLOBE NEWSWIRE) -- Newmont Gold announced on January 14 that it was acquiring Goldcorp Inc. for $10 billion. The merger would create the world's largest gold producer.
The consolidation dovetails with an urgent need to reverse a declining trend in reserves. Exploration and development companies are on the acquisition list for the major and mid-tier miners.
"Tuscarora is similar to Klondex's Fire Creek property, a high grade, high-level epithermal vein system," American Pacific's CEO Warwick Smith told Streetwise Reports.
American Pacific Mining Corp.'s (USGD:CSE; USGDF:OTC) emerged from Novo Resources Corp. in 2017. Novo had one of the top gold discoveries of 2017 at its Karratha gold project in Western Australia. With Novo's focus steadily on its Australian discovery, it optioned its Nevada property to American Pacific.
The Tuscarora project has proven high grades from past and current drilling. Historical results showed intervals of up to 180 grams of gold per tonne over 1.5 meters. Other drill holes have shown grades of 143 grams and 74 grams of gold per tonne over widths of 1.5 meters and 3.1 meters, respectively.
In the last year or so, numerous industry observers set their sights on American Pacific Mining.
Continue reading this article: Newmont-Goldcorp Proposed Merger Highlights Consolidation in Industry
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