Vancouver, July 5, 2021 - ArcPacific Resources Corp. (TSXV: ACP) ("ACP" or the "Company") is pleased to provide an update on its ongoing exploration on its gold, copper and silver projects in Ontario and British Columbia, Canada.
Rickard Gold Project
The Company has engaged a geophysical contractor to complete a detailed magnetic survey over the newly recognized north-south structures potentially connecting the Rickard Main Zone to the regional scale North Pipestone Fault (a regional splay off the prolific Destor-Porcupine Fault). Of increasing interest is the Ric Zone located to the northeast of the Rickard Main Zone which could be a distal extension of a second order north-south structure off the regional fault, whereas the Rickard Main Zone may represent as high as a 5th order structure. The new magnetic survey will allow detailed imaging of the complex fault and shear zone structures which act as fluid pathways to identify higher order targets within the extensive structural network. This survey will help to refine the target areas along these structures for a planned phase 2 drilling program at the Rickard Gold Project (the "Property").
Phase 1 drilling at the Rickard project confirmed the existence of a significant long lived hydrothermal system associated with the fault and shear zone structures present on the Property. Phase 2 work, beginning with the detailed magnetic survey, will continue to follow the hydrothermal system present to new target areas and utilize the valuable information gained from the phase 1 program. Additional prospective target sites exist across the Property evidenced by the historical work compiled and by the selective samples results shown in the table below. The data has not been independently confirmed by the Company and the exact locations of the historic collars are approximate, more work is needed to identify their exact locations, however they represent the prospective nature of the mineralizing fluids on the Project. Below are selective historical drill assays that have been identified as part of the extensive data compilation recently completed by the Company on the Property as part of the regional targeting initiative.
Selected Historic Drill intervals (Outside of Rickard Main Zone):
|Area (Zone) ||Hole ID ||From (m) ||To (m) ||Int (m) ||Gold (g/t) |
|Ric Zone ||R-07 ||53.34 ||54.86 ||1.52 ||172.1 |
|Ric Zone ||R-13 ||10.67 ||12.19 ||1.52 ||109.7 |
|South Zone ||RK-04 ||28.96 ||30.48 ||4.57 ||58.4 |
Adrian Smith, CEO of ACP commented, "Phase 1 drilling at the Rickard Project has greatly increased our understanding of the fault and shear structures present on the property. We have now seen evidence of ample fluids flowing thought these structures and have shown that they are carrying numerous metals associated to large gold deposits in the region. Our ambitious plan will utilize the extensive scientific research in the region and allow us to trace the path of the fluids back towards the highest probability location for greater gold deposition within the system. Following the detailed magnetic survey of the project-scale structures, we plan to initiate a widely spaced phase 2 drilling program to test key areas along these newly recognized structures where our models show potential for gold mineralization."
Additional samples received for the Rickard Main Zone area include 1.4 percent copper, and 0.22 grams per tonne gold over 1 metre (hole 12 ACP-R-21012 from 61 metres to 62 metres). This sample and other samples carry elevated levels of copper, molybdenum, tellurium and gold, and indicate that the hydrothermal system present is carrying the "right ingredients" to form a significant gold deposit. Additional work will focus on following these fluid conduits and testing the structures back towards their possible source.
The Property covers a prospective 5,656 hectares of the Abitibi Greenstone Belt located approximately 70 kilometres from the town of Timmins in the Timmins Gold Camp which has produced over 80 million ounces of gold over the last 100 years. The Property is road accessible and sits within 25 to 60 kilometers of six currently producing gold mines and eight previous producers. Large areas of the Property remain untested and under cover.
LMSL (Lucky Mike Silver Lode) Project
The LMSL project is an advanced exploration project with copper-gold and silver-lead-zinc targets and historic resources. The LMSL project is in south central British Columbia directly adjacent to Teck's Highland Valley copper mine, and on trend with New Gold's New Afton copper-gold mine, and Kodiak Coppers new MPD discovery.
The Company is currently planning a drilling program for 2021 with proposed drill sites selected and permits pending. The initial proposed drill sites were selected based on the detailed analysis of extensive data compilation work including 11,306 rock, soil, silt and core samples containing 280,716 values for multiple elements, and multiple historic geophysical surveys. Independent analysis confirmed the presence of porphyry style alteration and porphyry geochemical signatures on the LMSL project.
Historic samples from the LMSL project include up to 50.82 grams per tonne gold (grab sample), 5.25 grams per tonne gold over 2 meters (hole LM-2015-11 from 80 metres to 82 metres), 2,444.9 grams per tonne silver (grab sample), and 3.54 percent copper over 1 metre (chip sample).
Currently ACP geologists are mobilizing to the Blackdome Property for a helicopter supported chip-sampling and mapping program. The Blackdome Property is an epithermal gold-silver exploration target in Southern BC. The Blackdome Property is located north of the prolific Bralorne gold camp in southern BC which has produced over 4 million ounces and remains as an active gold mining camp.
All NQ split core assays were obtained by either complete sample metallic screen/fire assay or standard 30-gram fire-assaying with ICP finish at ALS Minerals in Vancouver, British Columbia, or by entire sample screened metallic screen fire assay at Eastern Analytical in Timmins, Ontario. The complete sample metallic screen assay method is selected by the geologist. Drill program design, Quality Assurance/Quality Control and interpretation of results is performed by qualified persons employing a Quality Assurance/Quality Control program consistent with National Instrument 43-101 and industry best practices. Standards and blanks are included with every 10 to 20 samples for Quality Assurance/Quality Control purposes by the Company as well as the lab.
The Qualified Person ("QP") for the Company has not verified the historic sample analytical data disclosed within this release. While the Company has obtained all historic records including analytical data from the previous owners of the Properties and from various government databases, the Company has not independently verified the results of the historic sampling.
Adrian Smith, P.Geo., is a QP as defined by National Instrument 43-101 for the above-mentioned project. The QP is a member in good standing of the Professional Geoscientists Ontario (PGO) and of the Engineers and Geoscientists of British Columbia (EGBC) and is a registered Professional Geoscientist (P.Geo.). Mr. Smith has reviewed and approved the technical information disclosed above.
About ArcPacific Resources Corp.
ArcPacific Resources Corp. (TSXV: ACP) is a Canadian based exploration company expanding the exploration initiative at multiple historic past producing gold and silver mines in the Timmins Gold Camp, Ontario, and in the Nicola Mining Division in Southern British Columbia. The Company is focused on creating shareholder value through new discoveries and strategic development of its mineral properties. For further information, please visit http://www.arcpacific.ca.
ON BEHALF OF THE BOARD OF DIRECTORS
/S "Adrian Smith"
CEO and Director
The forward-looking statements contained in this press release are made as of the date hereof and ArcPacific Resources Corp. undertakes no obligations to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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