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American Pacific Mining Corp. (USGD.CN)

Canadian Sec - Canadian Sec Delayed Price. Currency in CAD
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0.4250+0.0050 (+1.19%)
At close: 3:51PM EDT
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Previous Close0.4200
Open0.4200
Bid0.4250 x 0
Ask0.4300 x 0
Day's Range0.4000 - 0.4650
52 Week Range0.0200 - 0.6200
Volume248,606
Avg. Volume208,498
Market Cap8.927M
Beta (5Y Monthly)5.04
PE Ratio (TTM)N/A
EPS (TTM)-0.1310
Earnings DateN/A
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target EstN/A
  • American Pacific Mining Announces Earn-In Agreement  With respect to Tuscarora Gold Project
    GlobeNewswire

    American Pacific Mining Announces Earn-In Agreement With respect to Tuscarora Gold Project

    Tuscarora TuscaroraVANCOUVER, British Columbia, Aug. 04, 2020 (GLOBE NEWSWIRE) -- American Pacific Mining Corp (CSE: USGD / FWB: 1QC / OTCPK: USGDF) (“American Pacific” or the “Company”) is pleased to announce that, through its wholly owned subsidiary, American Pacific Mining (US) Inc., it has entered into an earn-in and option to form joint venture agreement (the “Earn-In Agreement”) in respect of the Company’ Tuscarora Gold Project with Elko Sun Mining Corp. (the “Optionee”), a private British Columbia Company. Warwick Smith, CEO of the Company, commented: “Tuscarora is a high-grade epithermal system that has produced some great results previously so we are pleased to see it receive more exploration in the coming months. This is another strong transaction for American Pacific shareholders that will create value via exploration without us having to use our own treasury.”Eric Saderholm, President of the Company, commented: “Nevada is the top investor-friendly jurisdiction for mining, and we consider Tuscarora a premier property worthy of extensive evaluation. I look forward to working alongside our Joint Venture team as we move this gold discovery forward at Tuscarora.”Key Points of the Agreement * The Optionee can earn a 51% interest in the Tuscarora Gold Project by making certain cash payment to or on behalf of the Company in the aggregate amount of $200,000, making certain share payments to the Company, and funding exploration expenditures of $1.35 million towards the Tuscarora Gold Project over the next two years (Phase 1). * Subject to the Optionee’s completion of Phase 1, the Optionee will have four years from the date of the Earn-In Agreement (the “Option Period”) to exercise an option to earn an additional 14% interest by making certain additional share payments to the Company and funding further exploration expenditures of $3 million towards the Tuscarora Gold Project (Phase 2). * Subject to its completion of Phase 2, the Optionee may exercise an option to earn a final 15% interest (for total interest of 80%) by completing a pre-feasibility study on the Tuscarora Gold Project before the end of the Option Period (Phase 3). * The Optionee will make an initial $50,000 non-refundable cash payment (as part of the aggregate $200,000 cash payments under Phase 1) to the Company within the first four months of the Option Period. * The Optionee will also make all payments to holders of underlying property interests and pay claim fees. * The Optionee will be the operator of the Tuscarora Gold Project and, upon earning-in an interest, a joint venture management committee will be formed.About American Pacific Mining Corp.American Pacific Mining Corp. is a gold explorer focused on precious metal opportunities in the Western United States. The Madison Mine in Montana under joint venture with Rio Tinto is our flagship asset. The Gooseberry Gold/Silver Project and the Tuscarora Gold Project are two high-grade, precious metal projects located in key mining districts of Nevada USA. The Company’s mission is to grow by the drill bit and by acquisition.On Behalf of the Board of American Pacific Mining Corp."Warwick Smith" CEO & DirectorCorporate Office: Suite 910 – 510 Burrard Street Vancouver, BC, V6C 3A8 Canada Contact Kristina Pillon, President, High Tide Consulting Corp., 604.908.1695 / Kristina@americanpacific.caThe 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.Forward-looking InformationSome 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.A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/8bba2d83-dd8c-49d5-a455-ba7787ced80e

  • GlobeNewswire

    American Pacific Mining Announces that its 2020 Drill Program has Commenced at its Madison Mine Project

    VANCOUVER, British Columbia, July 30, 2020 (GLOBE NEWSWIRE) -- American Pacific Mining Corp (CSE: USGD / FWB: 1QC / OTCPK: USGDF) (“American Pacific” or the “Company”) is pleased to announce the commencement of the 2020 drilling program at the Madison Project located in Silver Star, Montana, USA. The Company’s field operations and preliminary work on the project began in June of this year and the program is now moving forward. The Madison Project is currently under an earn-in, joint venture agreement, whereby Kennecott Exploration Company, part of the Rio Tinto Group may spend $30 million USD to earn up to 70% of the Madison Project (see new release dated June 6, 2020). The 2020 drill program will target over one kilometer of strike length of the Madison mineralization and will drill test areas south of the Madison Mine in the vicinity of the historic Broadway and Hudson Mines.“American Pacific is pleased to see the 2020 exploration and drilling program initiated and we are working with the Kennecott Exploration team to ensure safe working conditions during these unique times. The 2020 drill program mainly targets extensions of the high-grade copper and gold mineralization that has been historically drilled and locally mined on the Madison Mines property,” states Warwick Smith, the Company’s CEO.Qualified PersonTechnical 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. The Madison Mine in Montana under joint venture with Rio Tinto is our flagship asset. The Gooseberry Gold/Silver Project and the Tuscarora Gold Project are two high-grade, precious metal projects located in key mining districts of Nevada USA. The Company’s mission is to grow by the drill bit and by acquisition.On Behalf of the Board of American Pacific Mining Corp."Warwick Smith" CEO & DirectorCorporate Office: Suite 910 – 510 Burrard Street Vancouver, BC, V6C 3A8 Canada Contact Kristina Pillon, President, High Tide Consulting Corp., 604.908.1695 / Kristina@americanpacific.caThe 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.

  • REPEAT - American Pacific Mining Reports Unreleased 2019 Drill Results from the Madison Project Highlighted by 74m at 1.16 g/t Au, Including 3.46m at 17.71 g/t Au
    GlobeNewswire

    REPEAT - American Pacific Mining Reports Unreleased 2019 Drill Results from the Madison Project Highlighted by 74m at 1.16 g/t Au, Including 3.46m at 17.71 g/t Au

    Madison Project 600 Level Underground DrillingVANCOUVER, British Columbia, July 29, 2020 (GLOBE NEWSWIRE) -- American Pacific Mining Corp (CSE: USGD / FWB: 1QC / OTCPK: USGDF) (“American Pacific” or the “Company”) is pleased to announce results from the 2019 drilling program conducted by Kennecott Exploration Company on the recently acquired 100%-owned Madison copper-gold project, USA (“Madison Project”). The Madison Project encompasses a historical mining district and past producer in western Montana. The Madison Project is currently under an earn-in, joint venture agreement, whereby Kennecott Exploration Company, part of the Rio Tinto Group may spend $30 million USD to earn up to 70% (see news release dated June 6, 2020). “High-grade, skarn-related massive sulfide mineralization at Madison has been extended 112 meters down-plunge in Hole MADN0012, 108 meters laterally in Hole MADN0010 and 43 meters down-dip in Hole MADN0011 as a direct result of the 2019 drilling results” states Eric Saderholm, Company President. “Historical drilling has produced some very high-grade skarn intercepts in the past, including 30.18 meters at 24.50 g/t Au in Hole UG17-05 and 61.63 meters at 6.97% Cu in Hole C05-06 and strong mineralization potential is open both down-dip and lateral to the existing drilling and modeled mineralization. All new drill sites are now completed for the 2020 Madison drilling campaign. Our new joint venture partners, Rio Tinto, have developed an exploration program to test extensions and offsets to the skarn-related mineralization. American Pacific is pleased to be a part of these endeavors.”The 2019 drill program consisted of fourteen diamond drill holes totaling 4,013.93 m. Drill holes MADN0001 to MADN0006 targeted Porphyry style mineralization and drill holes MADN0007 to MADN0014 targeted the down dip and easterly strike extension to the known Madison Skarn mineralization.2019 Highlighted drill results include (see Table 1 below for full results): * MADN0010: cut 1.16 g/t Au over 74m (including 0.18% Cu and 17.71 g/t Au over 3.46m) * MADN0011: cut 1.42 g/t Au, 2.41% Cu and 44.50 g/t Ag over 2.54m * MADN0013: cut 2.60 g/t Au and 0.20% Cu over 9.22mMADN0010 and MADN0011 both intersected high-grade mineralization associated with alteration associated with skarn related sulfides dominated by pyrrhotite and pyrite in the limestone and dolomite host rocks within the upper Devonian Jefferson Formation, a noted ore host time-horizon throughout the western USA.Click the following link to view the latest drill results and highlighted historical results in 3D:https://americanpacific.ca/projects/madison/madison-mine-3d-model/Table 1: 2019 Significant Drill Results from the Madison ProjectHOLE IDFROM (m)TO (m)Interval (m)Ag (g/t) Au (g/t)Cu (%) MADN0001256.86258.8627.880.040.50 MADN000484.1785.281.110.171.040.02 MADN000434935230.081.250.00 MADN000783.585.822.322.191.060.76 MADN0009123.061295.942.010.40.01 MADN0010151.6122674.392.121.160.06 Includes151.61179.9828.374.012.270.10 Or151.61155.073.464.4317.710.18 And208.00226.0018.001.851.060.07 MADN0011182.00184.542.5444.51.422.41 MADN0011203.00204.231.230.581.590.01 MADN0012139.00142.003.001.361.720.02 MADN0013201.00210.229.226.82.600.20 MADN0014183.00186.003.001.160.910.12 * g/t = grams per metric tonne * m = meters * Interval lengths are reported as downhole lengths. True width of mineralization has not been determined.Drill holes MADN0002, MADN0003, MADN0005, MADN0006, MADN0008 did not return significant assay values and have been omitted from Table 1.Table 2: Historical Drill Highlights from the Madison ProjectHole_IDThickness (m)Au_g/tCu% UG17-0530.1824.4970.39 UG17-0610.9741.650.38 UG17-06 including4.6082.87Not significant 86-67.3125.75Not significant C05-0614.6912.10Not significant C05-0661.63Not significant6.97 C05-06 including8.47Not significant40.03 C06-0884.70Not significant1.89 C06-082.7041.7319.58 For context and additional historic drilling results, please consult the technical report for the Madison Project dated effective February 22, 2019, which was prepared in accordance with National Instrument 43-101 - Standards for Disclosure for Mineral Projects which is available on the Company’s website.https://americanpacific.ca/site/assets/files/3775/2019-03-04_brd_ni_43-101_report.pdfPrevious Drilling by Broadway Gold Mining Ltd. Notable drill intercepts from MADN0010 are considered a significant step-out from high grade underground drilling reported in Press Release dated June 15, 2017 by Broadway Gold Mining Ltd. (“Broadway Gold”). The results from this program include: * 1.098% Cu and 1.651 grams per tonne Au (g/t) over 24.30 meters in hole UG17-04 * 2.717% Cu and 2.466 grams per tonne Au (g/t) over 7.32 meters in hole UG17-04 * 0.391% Cu and 24.497 grams per tonne Au (g/t) over 30.18 meters in hole UG17-05 * 0.276% Cu and 68.608 grams per tonne Au (g/t) over 4.57 meters in hole UG17-05 * 0.384% Cu and 41.648 grams per tonne Au (g/t) over 10.97 meters in hole UG17-06Interval length reported by Broadway Gold are reported as drilling length. True width of mineralization has not been determined.Underground drilling defined a 30.00 m by 16.50 m ovoid sulfide body immediately beneath the 600 level. Drill hole results suggest that gold and copper mineralization continues to depth below the 600 level as shown in the accompanying drill plan (see also http://broadwaymining.com/projects/current-exploration/).  Since the existing underground infrastructure does not allow for deeper drilling from within the mine workings, surface hole C17-20 was drilled to test the down dip extension of the mineralized ovoid body a further 40 meters below the 600 level. This hole intersected massive sulfides parallel to the short axis of the sulfide body, which indicates that the body remains open to depth. Drill hole C17-20 intercepted 23.8 meters of 1.247 g/t Au and 1.843% Cu from a depth of 130.8 to 154.6 meters, including 3.7 meters of 2.156 g/t Au and 3.214% Cu from a depth 146.3 to 150.0 meters.The results from these three underground holes and two previously released holes suggest a zoning within the sulfide body. The southern section appears to contain a more gold-rich zone while the northern section appears to contain a more copper-rich zone. The last sample in Hole U17-04 ran 8.27 g/t Au suggesting mineralization extends past the end of the hole. Gold and copper mineralization extended above and below the massive sulfide into the epidote-garnet-diopside skarn and intrusive.Mineralization within the massive sulfide is described as 1% to 80% pyrite, 0% to 20% pyrrhotite, 0% to 5% chalcocite, 0% to 5% chalcopyrite and 0% to 5% bornite. Mineralization within the epidote-diopside-garnet skarn and Radar Creek intrusive is described as local chalcocite, native copper and copper oxides.Sampling, Laboratory and Quality Assurance/Quality Control ProgramAll drill core was logged and photographed prior to sample selection. Selected sample intervals honor lithological and visible sulfide boundaries and split in half along the core axis with a diamond saw. Half-core samples were submitted to ALS Laboratories in Elko, Nevada, USA (17025 accredited), for preparation and analysis. Drill core samples were analyzed for 48 elements by four-acid digestion of a 0.25-gram sample followed by an ICP-MS (inductively coupled plasma mass spectroscopy) finish. Gold (Au) was also analyzed by fire assay of a 30-gram sample followed by an ICP-AES (inductively coupled plasma atomic emission spectroscopy) finish.As part of the Rio Tinto Exploration quality assurance/quality control (QA/QC) program, independently certified control samples (standard and blank pulp samples), coarse blank samples and core duplicate samples were inserted into the sample stream in each analytical batch. The control sample results are monitored to ensure proper QA/QC.Table 3: 2019 Drill Hole Locations, Madison ProjectHole IDEast (m)North (m)Elevation (m)Depth (m)Azimuth (°)Dip (°) MADN0001398,160.125,059,978.251501.95470.9137.21-75.10 MADN0002396,014.835,059,796.871814.23532.18120.00-80.00 MADN0003396,292.585,061,179.661732.00500.00304.81-80.60 MADN0004396,292.585,061,178.451732.00403.40304.81-80.60 MADN0005396,915.755,061,036.241685.96467.8659.01-80.60 MADN0006398,427.165,060,298.311531.78527.30327.81-64.60 MADN0007397,623.745,061,117.791615.14117.5026.31-55.60 MADN0008397,623.325,061,117.791615.14162.1526.11-79.10 MADN0009397,623.325,061,117.791615.14151.09229.31-81.30 MADN0010397,527.775,061,126.321612.93254.5132.81-53.50 MADN0011397,527.775,061,126.321612.93218.6932.91-43.90 MADN0012397,527.775,061,126.321612.93181.6631.01-64.50 MADN0013397,527.775,061,126.321612.93272.1812.11-59.40 MADN0014397,527.775,061,126.321612.93207.2649.51-55.30 * Projection: UTM Nad83 Zone 12Qualified PersonTechnical 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. The Madison Mine in Montana under option to joint venture with Kennecott Exploration Company is our flagship asset. The Gooseberry Gold/Silver Project and the Tuscarora Gold Project are two high-grade, precious metal projects located in key mining districts of Nevada USA. The Company’s mission is to grow by the drill bit and by acquisition.On Behalf of the Board of American Pacific Mining Corp."Warwick Smith" CEO & DirectorCorporate Office: Suite 910 – 510 Burrard Street Vancouver, BC, V6C 3A8 Canada Contact: Kristina Pillon, President, High Tide Consulting Corp., 604.908.1695 / Kristina@americanpacific.caThe 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 https://www.globenewswire.com/NewsRoom/AttachmentNg/5fb3361f-592d-49f7-b07f-b5fd1bce8788