American Pacific Mining doubles property size, reports "bonanza grades"
(Kitco News) - American Pacific Mining (CSE: USGD / OTCQB: USGDF / FWB: 1QC) said yesterday it is acquiring assets from project generator Ubica Gold, which will double the size of American Pacific's Tuscarora land package.
American Pacific Mining is a precious metals explorer focused on the Western United States. Tuscarora is located in Nevada.
American Pacific said the package added 76 unpatented and 1 patented claims totaling 1,031 acres.
The company also announced high-grade rock chip and grab samples collected from the same expanded land package, Tuscarora gold project. A total of 135 samples were collected from several targets, ten of which returned Bonanza grades of over 34 grams per tonne (g/t) gold (Au), including a sample of 21,032 g/t Au (676.19 ounces per US ton) and 38,820 g/t silver (Ag) (1248 ounces per US ton) or 5.9% precious metals content, from surface at the Grand Prize Target.
"This very important acquisition adds significant value to our Tuscarora Project," stated American Pacific President, Eric Saderholm. "These samples show the bonanza grades that these veins can host, and importantly, these high-grade values are broadcast throughout the property and not along one single vein. This suggests the potential to greatly expand upon mineralization we have discovered in the past and map the full vein extent across this large property package in advance of drill campaign later this year, or early in 2022. Using this data we will update our 3D model and begin the permitting process to commence a Q4, 2021 drill program."