American Pacific announces approval of 2024 budget for Alaska copper project

Constantine North Inc., a subsidiary of American Pacific, is the operator for the Project, which is under a joint venture partnership with DOWA METALS & MINING ALASKA LTD.

The 2023 programme delivered the best four copper intercepts drilled to date at Palmer, highlighting the opportunity to define copper-rich zones within the known mineral resource envelope. New interpretations developed following the 2023 campaign have the opportunity to further impact the grade and tonnage profile by targeting areas with similar signatures and structural settings.

The US$12.8 million 2024 programme has been designed to continue expanding the known extent of the high-grade copper mineralisation within South Wall Zones 1 and 2. The 2024 programme will also include a series of step-out drill holes to test the nearby North Wall Target. The North Wall Target represents a potential fault offset extension of the South Wall mineralisation that has not yet been adequately tested.

2024 Palmer work programme highlights:

• Mineral resource expansion drilling focused on the South Wall, designed to follow up on successes from the 2023 drill programme by testing structural controls and extensions to the high-grade copper and zinc mineralised trends.
• North Wall exploration drilling targeting the interpreted fault offset extension of the high-grade South Wall Zone. Previous geological mapping and sampling has identified copper, zinc, and barite mineralisation with 500 m of untested strike length.
• Advancing regional exploration targets with a property-wide data analysis of historical work, focused on modelling mineralisation controls on new and previously identified prospects.
• Environmental and permitting activities, including ongoing environmental baseline studies and compliance work.
• Engineering studies, including a mineral resource estimate update, critical trade-off studies, and ongoing data collection in preparation for future feasibility studies.

Warwick Smith, CEO of American Pacific, stated:

“During the 2023 resource definition programme, our team discovered thick copper mineralisation within the known mineral resource envelope. In 2024, we will look to leverage and build upon last year’s high-grade results while aiming at expansion through step-out and extensional drilling along the high-grade trends, in addition to discovery-focused drilling at the adjacent North Wall Target. The North Wall alteration zone represents an outstanding and untested, near-surface target with very limited historical drilling. We look forward to another productive year with our joint venture partner with plans to update the mineral resource estimate by year-end.”

Read the article online at: https://www.globalminingreview.com/mining/26032024/american-pacific-announces-approval-of-2024-budget-for-alaska-copper-project/