American Pacific Mining To Purchase Interest In Madison Cu-Au Project 

VANCOUVER, BC - American Pacific Mining Corp has signed a Letter of Intent with Broadway Gold Mining whereby it was granted the exclusive right to negotiate a definitive agreement with Broadway and certain of its subsidiaries to acquire Broadway’s interest in the Madison Copper Gold Project in Montana.

The project is currently subject to an Earn-In with Option to Joint Venture Agreement with Kennecott Exploration Company, part of the Rio Tinto Group.

The CEO of American Pacific, Warwick Smith, said, “The opportunity to acquire the fully-permitted, past-producing Madison Copper Gold Project will strengthen the portfolio with a porphyry/skarn project that has already been evaluated and transacted upon by a major.”

The Madison Copper Gold Project is located in the heart of Montana’s prolific copper-gold belt only 38km southeast of the world-renowned Butte Mining District. The project, a high-grade Cadia-like skarn over porphyry system, encompasses 2,514 acres consisting of six patented lode claims and 108 unpatented mineral claims. Targets outlined in 2017 cover a two-mile-long by one-mile-wide zone of geophysical, geological and geochemical indicators. The project is permitted for mining, surface and underground exploration, and it encompasses two past-producing underground mines called the Broadway and Madison mines.

The Broadway mine produced 144,000 ounces of gold from 1880-1950. The Madison mine was developed between 2005-2011 and generated 7,570 ounces of gold and 3,020,000 pounds of copper from bulk samples of 19,803 tons (average 0.52 ounce/ton Au and 25% Cu). Broadway Gold Mining Ltd. refurbished parts of the Madison Mine in 2017. Approximately 3,000 total feet of underground workings go to a depth of 215 feet underground at Madison. Broadway rehabilitated the underground workings in order to access certain stopes and underground mineralization, allowing for a successful exploration drill program to take place as well. Currently, known skarn mineralization and massive sulphide gold mineralization is proposed to be linked to a deeper porphyry system.

According to Broadway, approximately $20 million has been invested in the exploration, development and bulk sampling of the Madison mine since 2005. 

A current drill program was recently completed at the Project including 14 drill holes targeting an area displaying multi-element soil and rock chip geochemical anomalies, historic prospects, strong induced polarization anomalies and porphyry drill intercepts. Previous drilling at Madison conducted by Broadway has delivered extremely high-grade gold and copper intersections. Underground drilling in 2017 at Madison intersected bonanza gold grades. The underground drill program was designed to test the down dip extension of t­he auriferous massive sulfide zone below the 600 level. A small program of 307 meters tested the zone with considerable success. 

The company’s address is Suite 910, 510 Burrard Street, Vancouver, BC V6C 3A8, (877) 261-4466, www.americanpacific.ca.