An Update On The Madison Copper-Gold Project – Opportunities Arising Through Rio Tinto Partnership

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American Pacific Mining Corp. USGD USGDF 1QC reports building on its strategic partnership with Kennecott Exploration (KEX) to create a comprehensive 3D geological model of the Madison Copper-Gold Project’s skarn environment according to a recent press release updating the Montana project’s 2022 exploration program. 

American Pacific highlights the following two initiatives in its Preliminary 2022 Work Program: 

• An in-depth review of Madison Project’s skarn environment, including a site visit and core review by a world-renowned skarn expert
• Fieldwork concentrating on zones with the potential for gold mineralization and a subsequent drilling program based on detailed skarn review and modeling updates 

“We are very pleased with the Kennecott partnership on Madison and look forward to further collaboration in 2022. The 2021 high-grade sampling and trenching results, which extended the known mineralization well beyond the historical mine areas, as well as a new gold zone identified with last year’s drilling, speak to the untapped potential across the Madison Project. We are fortunate to have an accomplished skarn expert to support interpretation and targeting efforts at Madison,” says American Pacific CEO Warwick Smith. 

American Pacific: 2021 Highlights 

In 2021, KEX, a division of the world’s second-largest metals and mining corporation Rio Tinto Group RIO completed a $2.7 million program including 10 diamond drill holes totaling 3,598 meters and targeted extensions to the Madison Project skarns and Jasperoids. The drilling identified new zones of skarn-hosted massive sulfides highlighting the potential for Bonanza-style gold mineralization.

Highlights from the drill program include MADN0033, returning 14.44 grams per tonne (g/t) gold (Au) and 0.11% copper (Cu) over 6.53 meters (m), including 39.57 g/t Au and 0.28% Cu over 2.35 m and 146 g/t Au and 0.98% Cu over 0.48 m (See Jan. 12 news release).

In addition, KEX completed an extensive field program including:

• Trenching (three trenches totaling 590 m) targeting vein-hosted gold mineralization outside of the Madison mine environment with highlights of 20 m of 0.63 g/t Au, 1.16 g/t silver (“Ag”) and 0.27% Cu (MADT0002)
• A high-resolution, drone-based magnetic survey covering the entire Madison Project identifying several new high-priority targets
• Soil sampling program covering the southern portion of the Madison Project
• Mapping and rock sampling over the past three years including 772 rock chip samples with 93 samples returning grades ranging from 1 g/t Au to 124.5 g/t Au (See Dec. 9 news release).

Strategic Partnership Implications for American Pacific

Many partnerships exist within the resource sector. One of the  key benefits for a junior exploration company in partnering with a major mining company on a project is the vast amount of due diligence undertaken by the major when getting involved.  Once it does, the partnership  serves as a strong endorsement of the project’s merits.  

Barsele Minerals Corp. BME and Agnico Eagle Mines Ltd. AEM hold a joint venture in the Barsele Gold-VMS exploration project in Northern Sweden. Additionally, Orex Minerals Inc. REX possesses a joint venture with Pan American Silver Corp. PAAS and Fresnillo Plc FRES on exploration projects in Mexico.  

For more on American Pacific’s projects, click here.  

This post contains sponsored advertising content. This content is for informational purposes only and is not intended to be investing advice.