VANCOUVER, British Columbia, March 19, 2018 (GLOBE NEWSWIRE) -- American Pacific Mining Corp (CSE:USGD) (“APM” or the “Company”) is pleased to announce the expansion of the Tuscarora Gold Project through the additional staking of 67 claims in Elko County, Nevada. The 24 claim, 447 acre project has significantly increased in size to 91 claims and 1818 acres. Tuscarora consists of two previously-tested, high-grade gold drill targets, the South Navajo and the East Pediment Zones. A drill permit is expected shortly for a planned 19 hole drill program that includes both reverse circulation and core drilling of the two main target zones.
Eric Saderholm, President & Director of American Pacific commented: “The Tuscarora land package is now a comfortable size at a total of 1,818 acres. We are ready to begin this next phase of exploration to test the continuity and resource potential of this epithermal vein system.” To the north of the main claim block is patented land, and to the south of the project, private land primarily utilized by the local ranching community.
Mining of high-grade gold and silver ores began in the Tuscarora District in the late 1800's. The Dexter gold mine, located south of town and north of the project, produced approximately 40,000 ounces of gold and 100,000 ounces of silver in the mid 1980’s. Nevada is a world-renowned, gold producing State with a long mining history. Nevada mines were responsible for 78% of the gold production in the United States in 2015.
The company has granted to Hybrid Financial Ltd for marketing and investor relations services, the option to purchase 100,000 shares of the company’s common stock at an exercise price of $0.30 (five year term). Hybrid will also receive a monthly retainer fee in the amount of CAD$5,000. The contract has an initial 6 month term.
Technical aspects of this press release have been reviewed and approved by the designated Qualified Person (QP) under National Instrument 43-101, Eric Saderholm, P.Geo.
American Pacific Mining Corp. is a new gold explorer focused on precious metal opportunities in the Western United States. Tuscarora is a high-grade, early stage gold project located in a prime precious metal district in Nevada, only 35km northeast of the Carlin trend, 20km southwest of the Jerritt Canyon deposit, and 50km east-northeast of the Midas deposit. American Pacific is Eyeing a Gold Discovery amidst gold’s next bull market.
On Behalf of the Board of American Pacific Mining Corp.
CEO & Director
Corporate Office: Suite 910 – 510 Burrard Street Vancouver, BC V6C 3A8 Canada
Investor Relations: firstname.lastname@example.org Phone: 1-866-646-5389
Some 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.
All historic results quoted herein are based on prior data and reports obtained and prepared by previous operators. The Company has not completed the work necessary to verify results. The historical figures should not be relied upon and have not been verified by a Qualified Person.
The 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.
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