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Explorer with High-Potential Nevada Project Begins Trading

Source: Streetwise Reports

 

March 8, 2018 (Investorideas.com Newswire) A new exploration company with a project that has seen some high-grade drill results begins trading on the Canadian Securities Exchange.


American Pacific Mining Corp. (USGD:CSE) begins trading on the Canadian Securities Exchange (CSE) on March 8; the ticker symbol is USGD. The new company has optioned NOVO Resources' Tuscarora property in Nevada.

Tuscarora consists of 24 unpatented BLM lode mining claims and is located 50 miles north of Elko, Nevada. The project is positioned between two major gold trends, Carlin and Jerritt Canyon.

Drilling that NOVO Resources conducted in 2016 at Tuscarora found high grades, including 3.1m @ 74.18 g/t gold and 1.5m @ 143.50 g/t gold.

With many industry observers noting that NOVO Resources' project in Australia has the potential to be a massive, Witwatersrand-type deposit, that company's focus has remained Down Under, and it optioned Tuscarora to American Pacific Mining.

The terms of the option agreement to acquire 100% of the property are:

After that, American Pacific Mining will pay a royalty to NOVO Resources of 0.5% of net smelter returns; this can be reduced to zero by paying US$500,000. American Pacific Mining will also pay a royalty to Nevada Select Royalty Inc. of between 2% and 4%, depending on the price of gold.

Dr. Quinton Hennigh, president and chairman of NOVO Resources, stated: "We believe that Tuscarora is a quality asset with promising mineralization. We look forward to seeing American Pacific Mining further develop the project and we are excited to participate in its true potential as shareholders of American Pacific Mining."

American Pacific Mining is helmed by an experienced team. Warwick Smith, CEO and director, is a venture capitalist who co-founded and led Western Pacific Resources Corp. Eric Saderholm, president and director, is the former Western U.S. Exploration Manager for Newmont and is an Elko-based geologist. Director Ken Cunningham has over 40 years of experience in mineral exploration, including 12 years as the president and CEO of Miranda Gold Corp.

Eric Saderholm, American Pacific Mining's president and director, noted that "American Pacific will build upon previous exploration work and use the most modern geophysical and drilling techniques to test this exciting, promising district. It was the potential of this project and the tight structure and commitment of American Pacific Mining that lured me into leaving a quality position with Newmont Mining. There is an upcoming emergence of profitable, mid-tier mining companies and we will be leaders in the exploration space as this trend continues."

American Pacific Mining has approximately 33 million shares outstanding. The IPO round was done at $0.25 with a half warrant at $0.35 (one year). The company has approximately $3 million in cash.

Disclosure:

1) Patrice Fusillo compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee. She or members of her household own shares of the following companies mentioned in this article: None. She or members of her household are paid by the following companies mentioned in this article: None.

2) The following companies mentioned in this article are sponsors of Streetwise Reports: None. Click here for important disclosures about sponsor fees.

3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.

4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.

5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article, until one week after the publication of the interview or article. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own shares of American Pacific Mining Corp., a company mentioned in this article.


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