Mining Stock News: American Copper (CSE: ACDX) Completes Maiden Drill Program and Expands Land Position at the Lordsburg Project, New Mexico
Vancouver, British Columbia - August 21, 2023 (Newsfile Corp.) (Investorideas.com Newswire) American Copper Development Corporation (CSE: ACDX) (OTCQB: ACDXF) ("ACDX" or the "Company") announces that it has completed its maiden drilling campaign at its 100% owned Lordsburg Project, New Mexico. A total of 6 drill holes were completed for a total of 4,662m (Figure 1). Final analytical results are pending and expected to be completed within the next 3-4 weeks.
The Company has also completed a claim staking program and has expanded its land-position to the east of the existing Lordsburg claims. During the months of June and July, 235 Bureau of Land Management (BLM) unpatented lode mining claims were staked along the eastern boundary of the Lordsburg Property totaling approximately 1,902 hectares. In addition, the Company entered a mining lease with an option to purchase with Comstock Allied, LLC for three patent mining claims located in the center of the Lordsburg Property (Figure 1). This brings the new total land package to 1,205 contiguous Federal patented and unpatented lode mining claims, covering 9,462 hectares in area controlled by the Company.
Rick Van Nieuwenhuyse, Chairman comments: "We are pleased with the completion of our first drilling campaign at Lordsburg, which came in on time and under budget. The success of our drilling, has given us a good reason to stake the land immediately to the east of us to expand the footprint of this largely unexplored high grade Copper Porphyry District. We look forward to releasing all the drill results once the assays and QAQC are completed. We expect to report on assay results within a month - stay tuned!"
The Lordsburg Project
American Copper's Lordsburg project is strategically located in a porphyry-rich copper region of southwest New Mexico at the intersection of the NE trending Santa Rita Lineament and the NW trending Texas Lineament. Significant historical production from the district includes 3-4M tonnes from polymetallic veins with average hypogene grades of 2-3% Cu, 2-3 opt Ag, and ~0.11 opt Au. Increasing copper grades are found at depth on the Lordsburg property with historically drilled intercepts from underground of +4% copper. Detailed geophysical and geochemical surveys suggest the potential for multiple porphyry centers on the property.
Mark Osterberg, P.Geo., a Qualified Person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects, has read and approved all technical and scientific information contained in this news release.
About the Company
The Company is engaged in the business of mineral exploration and the acquisition of mineral property assets. Its objective is to locate and develop economic precious and base metal properties of merit and to conduct its exploration programs on the Lordsburg Property and the Chuchi South and West Properties.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
American Copper Development Corporation
For further information, please contact:
Chief Executive Officer and Director
Phone: (778) 372-9888
Cautionary Statement Regarding Forward-Looking Information
This news release includes certain "forward-looking information" under applicable Canadian securities legislation. Forward-looking information involves risks, uncertainties, and other factors that could cause actual results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information is necessarily based on a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties and other factors which may cause actual results and future events to differ materially from those expressed or implied by such forward-looking information. Accordingly, the forward-looking information discussed in this release, may not occur and could differ materially as a result of these known and unknown risk factors and uncertainties affecting ACDX. Although ACDX believes that the assumptions and factors used in preparing the forward-looking information are reasonable, undue reliance should not be placed on this information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Except where required by law, ACDX disclaims any intention or obligation to update or revise any forward- looking information, whether as a result of new information, future events, or otherwise.
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