Cashed-up American Pacific Mining (CSE: USGD; US-OTC: USGDF) is preparing for an active drilling season this year at its Palmer base metals project in Alaska and the Madison copper-gold project in Montana, says CEO Warwick Smith.
The company elevated Palmer to flagship status after a Rio Tinto (ASX: RIO) subsidiary in February stepped away from its option to earn into Madison. Situated near Juneau, Palmer is managed through a joint venture partnership with Dowa Metals & Mining, which owns Japan’s largest zinc smelter and 55% of the project. It funded a successful US$20-million resource definition and geotechnical program at Palmer in 2023.
“We drilled the four best copper holes that have ever been drilled on the project,” Smith told The Northern Miner’s western editor, Henry Lazenby, during last month’s Prospectors and Developers Association of Canada’s convention in Toronto.
The company recently closed an upsized $4.5 million financing to fund exploration at both projects, supplementing the US$12.8 million Palmer exploration budget approved late last month.
Watch the full interview below.
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