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American Pacific Commences Drill Program at its Palmer VMS Project in Southeast Alaska

American Pacific Mining Corp. (“American Pacific” or the “Company”) is pleased to announce that it has initiated a 2024 diamond drill program at its high-grade Palmer Copper-Zinc VMS Project (“Palmer” or the “Project”) in Alaska, with joint-venture partner DOWA METALS & MINING ALASKA LTD. (“Dowa”).

“We are excited to begin this year’s drill program at Palmer,” said CEO Warwick Smith. “In a world that is recognizing the importance of critical metals, the impact and value that a polymetallic project with demonstrated high-grade copper, like Palmer, could have should not be understated. With drilling now underway on two of our key projects, we look forward to providing regular drill results in the coming weeks and months.”

The highest-grade copper intersections ever drilled in Palmer’s history — including 43.8 meters of 6.54 % copper and 23.9 meters of 9.03 % copper (see January 10, 2024 news release) — were reported during the 2023 exploration program. The 2024 drill plan will follow up on the structural trends interpreted to be associated with these significant results while also testing the deposit extensions to expand the known mineralized envelope. 

“The 2023 exploration program was an operational success with the high-grade copper and zinc results exceeding our expectations,” commented Peter Mercer, Senior Vice President - Advanced Projects. “I am incredibly proud of the technical team’s efforts over the past year and have full confidence in their capabilities to continue advancing Palmer through 2024 and beyond. In addition to the diamond drill program, our team will follow up on the numerous regional prospects to further demonstrate the exploration upside and district potential of the Palmer Project.”

American Pacific, along with its joint venture partner at Palmer, Dowa, plans to spend approximately CAD $17.5 million (USD $12.8 M) on exploration and development work, including a 5,100-metre drill program in 2024.

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