American Pacific Mining Corp. (“American Pacific” or the “Company”) is delighted to declare that it has entered into a definitive agreement by which the Company will gain all of the outstanding and issued common shares of Clearview Gold Inc. (“Clearview”). Clearview is a private exploration company that is part of the NewQuest Capital company.
ClearView Gold Projects. Image Credit: American Pacific Mining Corp.
The transaction eventually cements American Pacific as a leading exploration and development company, in a good position to provide findings from three projects being aggressively progressed within strategic partnerships with well-reputed most metal producers, alongside providing compelling organic growth from an extremely potential pipeline of fully owned mineral exploration projects.
Clearview possesses three gold projects situated in first-class mining districts of Nevada, along with the Round Mountain, Carlin and Eureka trends. The Ziggurat Project is situated on the northern end of the Round Mountain trend and close to the Northumberland Mine. Now, it is under a joint venture agreement with Centerra Gold Inc (“Centerra”).
Centerra can spend a maximum of US $6 million to make 70% of the project in five years. Currently, Centerra is in the second year of the earn-in arrangement and plans to rigorously explore the project in 2023.
Next to American Pacific’s Tuscarora property, the Danny Boy Mine property is situated on the northern extension of the Carlin trend. Clearview has been discovering epithermal and Carlin-type gold.
The Alpha Project is close to the Carlin and Battle Mountain-Eureka trends and earlier exploration has focused near-surface Carlin-type oxide gold.
The strategic rationale of the transaction is compelling on many levels: it provides American Pacific shareholders with the opportunity to participate in an even more diversified portfolio, which includes three active exploration projects partnered with major mining companies—Rio Tinto, Dowa Metals and Mining and now Centerra—plus discovery exposure with a growing portfolio of highly prospective exploration assets in the western USA. This private acquisition strengthens our position to create value for all stakeholders.
Warwick Smith, CEO, American Pacific Mining Corp.