Vancouver, British Columbia--(Newsfile Corp. - March 3, 2025) - American Pacific Mining Corp (CSE: USGD) (OTCQX: USGDF) (FSE: 1QC) ("American Pacific" or "the Company") is pleased to report that the Company has filed the updated NI 43-101 Technical Report for the Palmer Copper-Zinc Project, in Southeast Alaska, on SEDAR. SRK Consulting (U.S.) Inc. ("SRK") was used as the third-party consultant responsible for the updated Mineral Resource Estimate ("MRE") for the Project.
2025 MRE Highlights:
- Indicated: 4.77 million tonnes at 1.69% copper, 5.17% zinc, 0.14% lead, 28.4 g/t silver, 0.29 g/t gold, 20.6% barite (3.5% copper equivalent or 13.2% zinc equivalent)
- 16% increase in contained copper (24 million pounds) and 14% increase in copper grade
- 178.0 million pounds of copper, 543.0 million pounds of zinc, 14.2 million pounds of lead, 4.4 million ounces of silver, 43.9 thousand ounces of gold, and 980.4 thousand tonnes of barite (BaSO4)
- Inferred: 12.00 million tonnes at 0.57% copper, 3.92% zinc, 0.47% lead, 66.3 g/t silver, 0.33 g/t gold, 25.5% barite (3.1% copper equivalent or 8.9% zinc equivalent)
- 22% increase in contained copper (28 million pounds)
- 151.5 million pounds of copper, 1,036.4 million pounds of zinc, 125.2 million pounds of lead, 25.6 million ounces of silver, 128.1 thousand ounces of gold, and 3,054.2 thousand tonnes of barite (BaSO4)
The Technical Report has been prepared for the updated MRE in accordance with National Instrument 43-101 ("NI 43-101") and is available on the Company's website and filed on SEDAR.
Table 1: Palmer Project Mineral Resource Estimate Average Values (effective date January 13, 2025)
| Classification | Zone | Domain | Mass Mt | Average Grade | Metal Equivalent | ||||||
| Cu | Zn | Pb | Ag | Au | BaSO4 (6) | ZnEq(7) | CuEq(8) | ||||
| % | % | % | g/t | g/t | % | % | % | ||||
| Indicated | SW(3) | Zone_1 | 2.75 | 2.15 | 5.20 | 0.11 | 25.7 | 0.33 | 20.5 | 14.9 | 3.9 |
| Zone_2 | 2.02 | 1.08 | 5.12 | 0.17 | 32.1 | 0.23 | 20.7 | 10.8 | 2.8 | ||
| Total | 4.77 | 1.69 | 5.17 | 0.14 | 28.4 | 0.29 | 20.6 | 13.2 | 3.5 | ||
| Inferred | RW(3) | RW | 1.68 | 0.71 | 3.50 | 0.47 | 46.5 | 0.31 | 30.2 | 8.5 | 2.2 |
| SW(3) | Zone_1 | 1.30 | 1.79 | 4.93 | 0.18 | 34.4 | 0.39 | 24.9 | 13.7 | 3.6 | |
| Zone_2 | 0.89 | 0.87 | 4.32 | 0.15 | 26.2 | 0.20 | 14.4 | 9.0 | 2.4 | ||
| Zone_3 | 2.78 | 0.65 | 3.64 | 0.09 | 21.2 | 0.21 | 17.6 | 7.2 | 1.9 | ||
| AG(4) | AG (JAG) | 5.13 | 0.15 | 4.04 | 0.83 | 96.7 | 0.40 | 29.3 | 8.5 | 3.8 | |
| AG (Nunatak) | 0.22 | 0.16 | 0.25 | 0.20 | 434.7 | 0.57 | 47.3 | 15.3 | 7.0 | ||
| Total | 12.00 | 0.57 | 3.92 | 0.47 | 66.3 | 0.33 | 25.5 | 8.9 | 3.1 | ||
* See Mineral Resource "Notes"
Table 2: Palmer Project Mineral Resource Estimate Contained Metal (effective date January 13, 2025)
| Classification | Zone | Domain | Mass Mt | Contained Metal | |||||
| Cu | Zn | Pb | Ag | Au | BaSO4 (6) | ||||
| M lbs | M lbs | M lbs | K oz | K oz | K t | ||||
| Indicated | SW(3) | Zone_1 | 2.75 | 130.2 | 315.4 | 6.6 | 2,275 | 28.8 | 562.8 |
| Zone_2 | 2.02 | 47.9 | 227.6 | 7.7 | 2,078 | 15.1 | 417.6 | ||
| Total | 4.77 | 178.0 | 543.0 | 14.2 | 4,353 | 43.9 | 980.4 | ||
| Inferred | RW(3) | RW | 1.68 | 26.2 | 129.9 | 17.6 | 2,516 | 16.9 | 509.2 |
| SW(3) | Zone_1 | 1.30 | 51.0 | 140.8 | 5.1 | 1,432 | 16.4 | 323.2 | |
| Zone_2 | 0.89 | 17.2 | 85.0 | 2.9 | 754 | 5.9 | 128.6 | ||
| Zone_3 | 2.78 | 39.5 | 222.7 | 5.4 | 1,895 | 18.9 | 489.1 | ||
| AG(4) | AG (JAG) | 5.13 | 16.8 | 456.7 | 93.3 | 15,942 | 66.0 | 1,500.9 | |
| AG (Nunatak) | 0.22 | 0.8 | 1.2 | 1.0 | 3,049 | 4.0 | 103.1 | ||
| Total | 12.00 | 151.5 | 1,036.4 | 125.2 | 25,587 | 128.1 | 3,054.2 | ||
Mineral Resource Notes:
(1) Mineral Resources, which are not Mineral Reserves, do not have demonstrated economic viability. The deposits have been classified as Indicated and Inferred based on confidence in the geological model, drill spacing. The estimate of Mineral Resources may be materially affected by environmental, permitting, legal, title, market or other relevant issues. The quantity and grade of reported Inferred Resources are uncertain in nature and there has not been sufficient work to define these Inferred Mineral Resources as Indicated or Measured Resources. There is no certainty that any part of a Mineral Resource will ever be converted into reserves.
(2) Mineral resources are reported using an assumed NSR which includes prices, recoveries, and payabilities cut-off grade based on metal price assumptions*, variable metallurgical recovery assumptions**, mining costs, processing costs, general and administrative (G&A) costs and variable NSR factors. Mining (US$41.3), processing (US$23.92) and G&A costs (US$11.77) and Sustaining Capital (US$15.92) totaling US$92.9/t for Underground Mining.
(*) Metal price assumptions considered for the calculation of Metal Equivalent grades are: Gold (US$/oz 2,100.00), Silver (US$/oz 28.0), Copper (US$/lb 4.50), Lead (US$/lb 0.95) and Zinc (US$/lb 1.50)
(**) Cut-off grade calculations assume variable metallurgical recoveries as a function of grade and relative metal distribution. Average metallurgical recoveries are: SW/RW Zones: Gold (76.1%), Silver (90.2%), Copper (90.3%), Lead (82.9%) and Zinc (89.2%), AG Zone: Gold (66.0%), Silver (91.0%), Copper (54.8%), Lead (83.4%) and Zinc (94.8%).
(3) NSR Calculation for SW/RW Domains: NSR= $77.25 x %Cu + $20.32 x %Zn + $9.64 x %Pb + $0.64 x g/t Ag + $43.07 x g/t Au
(4) NSR Calculation for AG Domain: NSR = $49.04 x %Cu + $22.25 x %Zn + $10.14 x %Pb + $0.70 x g/t Ag + $37.77 x g/t Au
(5) The resources are considered to have potential for extraction using underground methodology and constrained by mineable shapes. Resources are presented undiluted and in situ and are considered to have reasonable prospects for economic extraction.
(6) Barite as reported is shown for economic potential but has not been used in the NSR value at this stage.
(7) ZnEq defined by equation SW & RW = NSR value per block / $20.32; AG = NSR value per block / $22.25 (Note Barite has been excluded from the ZnEq and NSR calculations)
(8) CuEq defined by equation SW & RW = NSR value per block / $77.25; AG = NSR value per block / $49.04 (Note Barite has been excluded from the ZnEq and NSR calculations)
(9) Mineral Resources are based on validated data, which have been subjected to QA/QC analysis, using capped, composited samples at 2m. Estimation has been completed using a combination of Ordinary Kriging and Inverse Distance estimation methodologies and classified based on confidence in the underlying data and drill spacing. Mineral resource tonnages have been rounded to reflect the precision of the estimate.
(10) The mineral resources were estimated by Benjamin Parsons, BSc , MSc Geology, MAusIMM (CP) #222568 of SRK, a Qualified Person.
Figure 1: Palmer Project VMS Deposits - Isometric view looking south
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Qualified Person Statement
Ben Parsons, Principal Consultant (Resource Geology) with SRK prepared the updated MRE and independent NI 43-101 report for Constantine Metal Resources Ltd., a 100% owned subsidiary of the Company, according to CIM Definition Standards. Mr. Parsons is a Qualified Person as defined by NI 43-101. The NI 43-101 independent report includes detailed information on the key assumptions, parameters and methods used to estimate mineral resources.
The technical information in this news release regarding the Palmer Project has been reviewed and approved by Michael Vande Guchte, P.Geo., Vice President of Exploration for the Palmer Project and a Qualified Person (QP) as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects.
Figure 2: Palmer Deposit projected Cross Section (looking West, left) and Long Section (looking North, right)
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Figure 3: AG Deposit projected Cross Section (looking Southeast, left) and Long Section (looking Northeast, right)
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About American Pacific Mining Corp.
American Pacific Mining Corp. is a precious and base metals explorer, and developer focused on opportunities in the Western United States. The Company has two flagship assets: the Palmer Project, a Volcanogenic Massive Sulphide-Sulphate (VMS) project in Alaska and the Madison Project, a past-producing copper-gold project in Montana. For the Madison transaction, American Pacific was selected as a finalist in both 2021 and 2022 for 'Deal of the Year' at the S&P Global Platts Metals Awards, an annual program that recognizes exemplary accomplishments in 16 performance categories.
Also, in American Pacific's asset portfolio are high-grade, precious metals projects located in key mining districts in Nevada, USA, including the Ziggurat Gold Project and the Tuscarora Gold-Silver District. The Company's mission is to grow by the drill bit, strategic partnerships, and M&A.
On behalf of the American Pacific Mining Corp Board of Directors:
Warwick Smith, CEO & Director
Corporate Office: Suite 910 - 510 Burrard Street
Vancouver, BC, V6C 3A8 Canada
Investor relations contact:
Kristina Pillon, High Tide Consulting Corp.
604.908.1695 / Kristina@americanpacific.ca
Media relations contact:
Adam Bello, Primoris Group Inc.
416.489.0092 / media@primorisgroup.com
The Canadian Securities Exchange has neither approved nor disapproved the contents of this news release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/242968
SOURCE: American Pacific Mining Corp.
