ArcPacific Resources Expands LMSL Project Size and Identifies New High-Priority Target
Vancouver, November 8, 2021 - ArcPacific Resources Corp. (TSXV: ACP) ("ACP" or the "Company") is pleased to announce it has generated a new high-priority copper-gold-molybdenum porphyry target through the completion of its technical review of the geological and geochemical data compiled on the LSML Project (the "Property") and it has acquired through staking, an additional 2,063 hectares, bringing the total project size to 10,199 hectares or over 100 square kilometres.
The technical review has resulted in the identification of a high-priority porphyry copper-gold-molybdenum target. The newly identified target area is to the south and west of historical drilling and underground mine workings which are interpreted to be within a proximal silicious and skarn dominant environment. The proximal historical drilling adjacent to the newly identified priority target area confirms the presence of a mineralized hydrothermal system. This historical drilling is interpreted to be proximal to potential higher grades of copper within a porphyry core. Previous and historical results from the proximal drilling include 0.16% CuEq over 798 metres in hole LM-2016-01, 0.38% CuEq over 24.5 metres in hole 2016-05, and 5.4% Cu over 0.25 metres in hole RL93-07 (gold was not assayed for). Vectors generated from this historical drilling show a directional increase in temperature and increasing copper plus molybdenum values towards the newly identified and untested area suggesting the presence of a potential porphyry center.
Adrian Smith, CEO, comments, "The Company is excited to bring a new perspective to the Property and is currently targeting a near term drilling campaign to test the newly recognized high-priority targets. Given the extensive data at the Property and the extensive amount of work we have put into the compilation and technical review of the data, it is extremely encouraging to see such positive targets emerge from the data that could represent a significant porphyry discovery in the heart of a well known and prolific mining camp."
Additional information from the technical review on the Property can be seen here.
Figure 1: Planned work covering a new priority target area at the Property. Red circles indicate proposed drill pad locations, red lines represent planned IP lines, dashed black lines show interpreted fault locations and white circles with internal black diamonds indicate previous and historic drill pad locations. The pink outline shows the location of potassic radiometric anomaly from an airborne survey. The background image is TMI magnetics.
To view an enhanced version of Figure 1, please visit:
Exploration efforts also continue at the Company's Rickard Gold Project which covers 5,656 hectares in the Abitibi Greenstone Belt, Ontario (the "Rickard Project") and at the Blackdome gold-silver project which covers 3,479 hectares in the Clinton mining division, British Columbia (the "Blackdome Project"). Additional ongoing groundwork is being undertaken at the Rickard Project to identify potential new areas of gold mineralization. Permitting is also underway for the proposed trenching and drilling to expand on the new discovery of gold-silver mineralization in trenching made at the Company's Blackdome Project (see release September 7, 2021).
The Qualified Person for the Company has not verified the historic analytical data disclosed within this release. While the Company has obtained all historic records including analytical data from the ARIS (Assessment Report Indexing System) from the Government of British Columbia, the Company has not independently verified the results of the historic sampling.
Prices used to calculate Copper Equivalents (CuEq) are, Cu: 4.20/lb Ag: $24.00/oz, Mo: $20/lb. All values are reported in USD and do not consider metal recoveries.
Adrian Smith, P.Geo., is Qualified Person as defined by National Instrument 43-101 for the above-mentioned project. The QP is a member in good standing of the Association of Professional Engineers and Geoscientists of British Columbia (EGBC) as a registered Professional Geoscientist (P.Geo.). Mr. Smith has reviewed and approved the technical information disclosed above.
About ArcPacific Resources Corp.
ArcPacific Resources Corp. (TSXV: ACP) is a Canadian based exploration company expanding the exploration initiative at multiple historic past producing gold and silver mines in the Timmins Gold Camp, Ontario, and in the Nicola Mining Division in Southern British Columbia. The Company is focused on creating shareholder value through new discoveries and strategic development of its mineral properties.
For further information, please visit http://www.arcpacific.ca. or contact us at: email@example.com or 1.778.331.3816.
ON BEHALF OF THE BOARD OF DIRECTORS
/S "Adrian Smith"
CEO and Director
Certain information in this press release may constitute forward-looking information, including statements that address future production, reserve potential, exploration and development activities and events or developments that the Company expects. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. The Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to the Company. There are a number of risk factors that could cause future results to differ materially from those described herein. Information identifying risks and uncertainties is contained in the Company's filings with the Canadian securities regulators, which filings are available at www.sedar.com.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/102379