Source: Streetwise Reports
October 10, 2018 (Investorideas.com Newswire) With Nevada gold projects taking center stage in the M&A sphere, one new gold explorer that has grabbed the attention of industry observers is moving quickly to prove up its project.
Nevada is no slacker when it comes to massive gold mines. Barrick Gold's Cortez Gold Mine and Goldstrike Mine each produce over 1 million ounces of gold a year, and Newmont Mining's Carlin Operations aren't far behind.
Nevada gold acquisitions are rampant this year as well.
In the past year alone, Hecla Mining acquired Klondex Mines for a staggering $426 million, Alio Gold acquired Nevada-based Rye Patch in a deal valued at $128 million and Coeur Mining has just taken over Northern Empire at the cost of $90 million. Good companies with good projects are in demand.
One company with similar geology in the same geography is just getting started.
American Pacific Mining Corp.'s (USGD:CSE; USGDF:OTC) flagship property is the Tuscarora Gold Project in Elko, Nevada. "Tuscarora is similar to Klondex's Fire Creek property, a high grade, high-level epithermal vein system," American Pacific's CEO Warwick Smith told Streetwise Reports.
American Pacific Mining (USGD:CSE; USGDF:OTC) emerged from a "hot" gold company last year.
Novo Resources Corp. (NVO:TSX.V) was one of the top gold discoveries of 2017. In mid-2017, Novo announced the discovery of gold nuggets at its Karratha gold project in Western Australia. This was the first indication that Novo's world-famous geologist, Dr. Quinton Hennigh, and his theory of a massive field of gold nuggets in Western Australia may be proven correct.
This discovery propelled Novo Resources' stock price upwards. Over the next three months following the announcement of this discovery, its stock went from CA$0.83 to a peak of CA$8.55, an increase of about 930%. The stock sits at CA$2.67 at the time of writing.
Early investors made handsome profits from Novo Resources.
"American Pacific Mining was founded to advance one of Nevada's most promising projects," said CEO Warwick Smith.
He explained that this was American Pacific Mining's "once in a lifetime opportunity." One of American Pacific's directors, Ken Cunningham, knew Dr. Quinton Hennigh, president and chairman of Novo Resources. The two sides managed to quickly cut a deal, and the Tuscarora Gold project was optioned by American Pacific Mining Corp. for a bargain price.
"Location and jurisdiction are make-or-break in mining," Smith explained.
Tuscarora lies between major mining trends and gold projects in Nevada, with a signature quite similar to Klondex's Fire Creek—a narrow vein of a high grade gold mineralization in the heart of the state.
The company was able to tap Eric Saderholm to be its president. Saderholm at that point was the exploration manager for the Western U.S. at Newmont Mining Corp. (NEM:NASDAQ), the second largest gold mining company in the world with a market cap of over $16 billion.
"Saderholm is known as one of Nevada's top geological talents and an expert in his field. He joined the team as the company went public, bringing decades of discovery to production experience in both major and minor resource companies with him," Smith told Streetwise Reports.
When it comes to gold, grade is king. The Tuscarora project has high grades from past drilling. Historical results showed intervals of up to 180 grams of gold per tonne over 1.5 meters. Other drill holes have shown grades of 143 grams and 74 grams of gold per tonne over widths of 1.5 meters and 3.1 meters, respectively.
The property has already produced gold, with historical production of 204,000 ounces of gold and 7.5 million ounces of silver.
American Pacific Mining (USGD:CSE; USGDF:OTC) moved quickly and expanded the Tuscarora project. It increased the number of claims from 24 to 91 and the project area from 447 acres to 1,818 acres. "We know we have something special on our hands," said Smith.
These five industry experts think that American Pacific is a good opportunity for those interested in investing in the gold sector.
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Bob Moriarty: I, or members of my immediate household or family, own shares of the following companies mentioned in this article: American Pacific. American Pacific is an advertiser on 321 Gold.
Chen Lin: I, or members of my immediate household or family, own shares of the following companies mentioned in this article: None. I personally am, or members of my immediate household or family are, paid by the following companies mentioned in this article: None. My company has a financial relationship with the following companies mentioned in this article: None.
Nick Hodge owns shares of American Pacific Mining. The company is a sponsor of Resource Stock Digest.
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