American Pacific Mining Targets a $50 Million Equity Book

0:15America of Cystic Mining is back with results from four more holes at Madison. All three reverse circulation holes hit gold. The best was 9.2 meters of 3.74 grams per ton gold from 166 meters, including 4.6 meters at 7.02 grams per ton. Another hole returned three meters of 4.53 grams per ton gold from 15 meters down hole. The targets sit up to 800 meters from the historic Madison and Broadway mines. Madison is American Pacific's 100 % owned past producing copper gold project in Montana. Orwick Smith is CEO and director. Warwick, welcome back to Mining Stock Daily. Thanks, Michael. Appreciate you having me.

0:59Warwick, situate these holes for us. Where were they relative to the historic Madison and Broadway mines and why were they selected as targets? Yeah, absolutely. So one of the interesting things with this program is there was a significant amount of targets that had never been drilled before. And these holes fall into that range of new targets that were defined by geophysics, geochem, MT, mag, etc. A lot of pre-work that was done over the last 18 months. Previously, we put out the new hole in the CRD system. That was the 30 meters of 7 grams, 20 meters of 11. This is away from that, one of which is up to the north.

1:42The others are off to the east. Excited about these holes. They're entirely different type of system. um we're excited to obviously follow up on hole two which was the the real cracker hole uh we're in the process of drilling a follow-up on that as we speak but these give us new areas to go at that were never drilled before they've given us good grades uh so we're excited to get back and and redrill these targets and start to build out additional scar and body mineralization as well can you talk about any type of continuity that's been established with these holes and is this one zone uh three separate gold intercepts what is it yeah it's three separate gold intercepts at this point um i wouldn't say there's continuity to it because it's the first time they've ever been drilled the first holes in these three different sections so whether they connect or there are three separate systems i think for the moment you say there's three separate systems until you drill in between them we're going to basically go here until we've done roughly half of this 15 000 meters we'll take a break we'll get all assays in we'll figure out exactly where we want to follow up and then go and do that in short order as well so this is a nice part of just getting all of these assays back we're on hole 11 core hole 11 now so there's a lot more data to come and once we have it all in we can kind of get a global picture of to exactly where we're at and exactly how we want to follow up on these holes um how much of the program has been drilled and what holes are still remaining in the lab right now yeah so core holes uh five through let's call it 11 which is being drilled at the moment uh there'll be a 12 as well it looks like both coming off of that same pad that returned the 20 meters of 11 grams those there's two holes coming off of that pad we'll do those two and then we'll take a break let's get all those assays back and then we'll get out and drill the additional 7500 meters after that now i understand that assays are pending right now But, you know, you did announce a program.

3:45We're into November right now. What is your kind of your key takeaways in terms of your understanding where you stand right now in terms of Madison? Yeah, happy. That first batch of holes, including that hole number two, got us very excited. Simply because it opened up a new corridor to the southwest that has never been drilled before. It's a different type of ore being a CRD, not a SCARN. that's gotten us given us an awful lot of excitement we've got three quarters of a mile to work with there until things are going to change where you're going to hit a big fault system that's going to allow us to do a lot of drilling in that general direction once we start once we take a break here start up drilling again we'll permit a bunch of pads along that way to go and drill and really chase that out with a i think a large chunk of the programs gonna likely end up going that way that being said we're still got a bunch of holes pending uh some down south that have never seen any drilling that look intriguing but we don't have assays yet so we'll wait till we get everything back before we can really assess but so far so good we really wanted to step outside of the known madison broadway area that's always given us great it's always given us excitement but we wanted to see regionally what else was out there and we're getting good success in doing that now once you've got all of that data back in it allows you to target those next 7500 meters properly and the likelihood is we'll drill those 7500 while permitting additional meters on top of that so we can just keep drilling that's the ultimate game plan is to build this out turn it into a big resource keep chasing for the porphyry as well so we're learning an awful lot with this program although i'd say the learning is probably half done because we're you know got about half the assays in so there's still there's still uh knowledge to a to come through uh now warwick could you help us out because uh you what you've emphasized again and again on the news releases is that you want to be well thought out you want to be well considered in terms of doing these holes and i i have noticed with your news releases that you have been releasing the drill hole results but you've also been releasing a lot of like geotechnical data For instance, you had that outstanding hole in September, and then afterwards you followed up with a news release talking about the COLOG for the acoustic and optical televiewer surveys.

6:10Can you just step back and talk about a minute? I don't know, how well considered are these holes saying if you'd done this, say, about 10 years ago? What types of savings are you seeing? And then just kind of also kind of what more assurances you terms and feels of kind of advancing this out and just kind of understanding Madison. Yeah, absolutely. So one of the interesting things from the American Pacific standpoint was we spent that few years really focused on Palmer. And that took a lot of our bandwidth and certainly took a lot of the capital. Those were big programs. Now they were being run by Doha, but we were contributing as well.

6:50what it allowed us to do at madison was to spend the time to really do all of the pre-work so that this drill program was well thought out and well targeted and so we've learned things here that have never been done before and as we start to release some of these other holes i'll be able to talk more about some of the things that we've seen that that haven't been seen before but i'll wait until we get those released we've done a 3d geochemical model that had never been done we had geophysics we did mag we did mt we did this down camera hole we've done everything that we can to learn what is a structurally complex system and to target these drill holes in the best possible way drilling is expensive you want to take your absolute best shots at a company our size.

7:43And I think we've done a good job of doing that. Now, how that translates, time will tell. So far, so good. Very happy with what we've seen so far. We'll see as these other holes come back. And that's going to allow us to then, again, take a beat, plan out that next 7 ,500 meters in an intelligent way, and go and attack this so we can start putting together a good-sized resource here at Madison. You mentioned Palmer, which is the large copper project that you sold to Visa Copper or made the arrangement with the deal with Visa Copper about in December. You do have both Visa Copper and ICG Silver and Gold on your deck in terms of the value propositions that you're doing at American Pacific with the equity stake that you them both.

8:32Developments that you're watching at each company? Yeah, pleased with both management teams, pleased with both companies. If you're going to sell assets for equities, you want the guys running the companies to be serially successful and people that you believe in and trust. Craig and team over at Vizsla Copper certainly fit that bill. Stephen and his team over at ICG do as well. So we'll start with Vizsla Copper. That's the largest of the holdings. We own 13.88 million shares there so we are now the second largest shareholder of isla copper next to a um agnico who just sold them the delta project up in alaska delta's got a historic resource of around 3 million ounces of gold and so that just completed the they're busy drilling up at palmer i think they just completed drilling at palmer uh they've had great drill hits down at wood jam in bc uh and then and then with the icg guys they've had a great drill head down in nevada and so what's interesting with american pacific is through owning american pacific you got access to what would be the second best drill hole in montana this year just by um uh goal by meters by meter grams um so it's not a perfect science but you'd have the second best drill hole in montana you'd have the third best drill hole in nevada via the projects that icg is holding tuscarora you'd have the number two copper drill hole in alaska and the number one copper drill hole in bc from the two projects down in a uh through through visla copper so you get access to all of that by owning american pacific so people talk about owning a basket of these equities you get a bit of that just by owning american pacific because of the other equities that we own we look to add to that as well we've still got three assets in nevada that we'd like to transact on add to that equity book the stated goal there is to add equities in see some success there we'd love to see that equity book worth around 50 million dollars that's what we want to get to that's more than the market cap of the company today so time will tell let's say um we're very pleased with with both what icg and does the copper are doing today orwood smith thank you speak with Mining Stock Daily.

10:49Appreciate you having me all, Michael. Much appreciated. The information presented should not be considered investment advice. Mining Stock Daily and its affiliates are not responsible for any loss arising from any investment decision in connection with the material presented herein. Please do your own research or speak with a licensed financial representative before making any investment decisions.