American Pacific increases South Lida to 1,500 acres

2022-04-05 10:33 ET - News Release

Mr. Eric Saderholm reports

AMERICAN PACIFIC MINING ANNOUNCES THE EXPANSION OF LODE CLAIMS AND PLANS AN EXPLORATION PROGRAM AT ITS SOUTH LIDA PROJECT IN NEVADA

American Pacific Mining Corp. has expanded its South Lida project land package in Nevada to 1,500 acres by staking 64 additional claims.

An initial sampling program is planned to evaluate the new claims and to identify new targets on the property and data collected will be included in an updated National Instrument 43-101 technical report expected later this year.

The project is being explored as a sediment-hosted, Carlin-type, structurally controlled epithermal gold system. The project is in western Nevada where the southern part of the Walker Lane structure merges with the Owens Valley and Furnace Creek faults. The Walker Lane is a major northwest-southeast-trending structural zone that hosts a variety of precious metal and base metal mineral deposits.

"Historical sampling at South Lida has yielded gold values of up to 11.45 grams per ton gold, 1,280 grams per ton silver and 20.8 per cent copper so it is clearly a property of merit. The presence of multiple intermediate to basic dikes, quartz veins and abundant jasperoids show both epithermal and Carlin-style mineralization signatures. The 2022 program will include outcrop and float sampling, geologic mapping, and a gravity survey, which will define drill targets and support further exploration efforts," stated American Pacific president Eric Saderholm.

American Pacific intends to find a joint venture partner to advance South Lida. Interested parties are encouraged to reach out to the company.

Qualified person

Technical aspects of this press release have been reviewed and approved by the designated qualified person under NI 43-101, Mr. Saderholm, PGeo.

About American Pacific Mining Corp.

American Pacific Mining is a precious metals explorer focused on opportunities in the Western United States. The company's flagship asset is the high-grade, past-producing Madison copper-gold project in Montana, under option to joint venture with Kennecott Exploration Company, a division of the Rio Tinto Group, which the company acquired in 2020. For this transaction, American Pacific was selected as a finalist in the S&P Global Platts Global Metals Awards, an annual program that recognizes exemplary accomplishments in 16 performance categories, including Deal of the Year, the category in which American Pacific Mining competed. The awards program is hosted by S&P Global Platts, the leading independent provider of information and benchmark prices for the commodities and energy markets. Also in the American Pacific's asset portfolio are the Gooseberry silver-gold project and the Tuscarora gold-silver project: two high-grade, precious metals projects located in key mining districts of Nevada, United States. The company's mission is to grow by the drill bit and by acquisition.