American Pacific Announces Exploration Plans at Madison Copper Gold Project

American Pacific Mining Corp. has announced the details of the scheduled 2021 exploration program at the Madison Copper Gold Project (the Madison Project), based in Montana, United States.

At present, the wholly-owned Madison Project of American Pacific Mining is under an earn-in option to a joint venture contract. Under this agreement, Kennecott Exploration Company—which is part of the Rio Tinto Group—may spend $30 million USD to earn approximately 70%.

Starting in the H2 of 2021, Kennecott’s exploration program at the Madison Project is anticipated to involve reverse circular (RC) drilling, diamond drilling, a MAG survey, widespread rock-chip and soil sampling, and road construction.

The exploration plan is expected to be successful and may include up to 50 RC holes and up to 31 diamond drilling holes. The exploration program will work on expanding the three massive sulfide zones and five jasperoid zones, and will also test for porphyry, skarn mineralization and gold potential.

Anticipated Exploration Plans

Madison Jasperoid Targets

• Three diamond drill locations have been scheduled to test the extensions (100-m step-outs) of the Philipsburg and Kettlehouse jasperoids, and to also test the potential for more jasperoids in dilation zones.
• A fourth-core hole has been scheduled to test a further 80-m step out of the Kettlehouse Jasperoid toward the southwest.
• A fifth-core hole has been planned by using the existing location at MADN0022.
• It must be noted that all drill locations will be permitted to enable up to five drill holes at every location.

Madison Skarn—Massive Sulfides

• Three diamond drill locations have been planned to test the extensions of large sulfide bodies proximal to the granodiorite contact in structurally conducive sites.
• It should be noted that all drill locations will be permitted to enable up to five drill holes at each site.

Earlier drill holes, described in the above image, are available in the technical report titled “NI 43-101 Technical Report for the Madison Project, Madison County, Montana USA” dated February 22^nd, 2019, and effective as of March 4^th, 2019. The report was prepared according to National Instrument 43-101 standards.

Skarn Repetition/Porphyry Potential

• At least one drill location has been planned to test the magnetic high east of the Madison-Broadway skarn-hosted mineralization.
• It must be noted that all drill locations will be permitted to enable up to five drill holes at each site.

Gold Exploration

Phase 1

• About 1000 m of road construction will check the cross-cutting zones of high grade gold mineralization in veins.
• Surface channel sampling of the American Mine region has also been planned.
• Road cuts will also be cleaned up, plotted and sampled, wherever required.

Phase 2

• Road construction will be followed up with RC drilling.
• At present, Kennecott is permitting up to 10 RC locations. Further drill locations and potential trenches will be allowed under a Plan of Operation depending on the success of the program.
• It should be noted that all drill locations will be permitted to enable up to five drill holes at each site.

Permitting

• A notice has been filed for drill locations on private land.
• A Notice of Intent has also been filed with the Bureau of Land Management (BLM) for up to five acres of disturbance to comprise drill-pad construction, road building, and road construction.
• A Plan of Operation that would enable surface disturbance of over five acres is ongoing and will soon be filed with the BLM.

American Pacific is looking forward to the extensive and multi-faceted 2021 exploration program at Madison. We anticipate further definition and extension of the skarn, jasperoid, and massive sulphide mineralization from the drilling program. Road construction and detailed mapping should expose hidden mineralization and additional geophysical work will further refine target generation.

Eric Saderholm, President. American Pacific Mining Corp.