American Pacific Mining Creates New 3D Model for High-Grade Mineralization at Gooseberry and Provides Corporate Update
VANCOUVER, British Columbia, Feb. 13, 2020 (GLOBE NEWSWIRE) -- American Pacific Mining Corp (CSE: USGD / FWB: 1QC / OTCPK: USGDF) (“APM” or the “Company”) is pleased to announce that the Company
has created a new 3D model for the high-grade Gooseberry Gold-Silver Project (the “Project”) located in the Ramsey Mining District of Storey Nevada. Historical underground sampling data from the
Project has been put into 3-dimensional space for the first time. The leapfrog model shows a clearly defined, nearly vertical vein structure with very prospective grades of gold and silver
displayed in gold equivalent. The vein can be traced for several hundred feet at surface and even further underground at the 900-1000 foot level, to approximately 1450 feet in length.
Link to Gooseberry Model Video: https://youtu.be/Td9DdmkWHIQ
“Grab samples of the stockpiles in 2019 complement what we are seeing in the Gooseberry model today. Sampling returned values including 18.45 g/t Au and 595 g/t Ag, 17.75 g/t Au and 310 g/t Ag, and 10.25 g/t Au and 218 g/t Ag. APM believes these results are indicative of material destined for milling at the time of mine closure,” commented Eric Saderholm, President of APM. “We are highly encouraged by the consistency and grade of gold and silver at Gooseberry.”
The Project consists of gold and silver-bearing quartz/dolomite veins up to 12 feet (3.6m) in width. The veins roughly follow the east-west striking Gooseberry Fault with mineralization found in numerous veins associated with jarosite, gypsum and pyrite. The vein system is hosted in Miocene andesite lava flows within the Kate Peak Formation, similar in age to the Comstock Lode deposits located 15 miles to the southwest.
Notes on the Geological Model
The Gooseberry model data was compiled from historical underground sampling maps undertaken by former mine operator, Asamera Inc. in the mid-1980’s. Extensive underground sampling of the stopes was undertaken during the time Asamera owned and operated Gooseberry. Samples would have been tested at an internal assay lab for the company. QA/QC is not available for the assays and they have not been verified by a Qualified Person as defined by National Instrument 43-101. Some or all of the mineralization that was sampled could have been mined out. There are no guarantees that future assays from underground sampling or drilling will produce similar results.