Join Our Investor Community
Subscribe to our mailing list to receive news releases and other materials related to First Atlantic Nickel Corp. Your email will never be shared or sold and you can opt out at any time.
Subscribe to our mailing list to receive news releases and other materials related to First Atlantic Nickel Corp. Your email will never be shared or sold and you can opt out at any time.
Vancouver, BC ‐ ArcPacific Resources Corp. (“ACP” or the “Company”) (TSX-V: ACP) is pleased to announce it has completed an extensive data compilation program resulting in the identification of highly elevated gold, copper and silver occurrences spread across the 8,136 hectare Lucky Mike Silver Lode Project (the “LMSL” or the “Project”). The work program compiled all available data including 75 separate reports dating back as far as the 1950’s into a single merged database. This data includes 11,306 rock, soil, silt and core samples containing 280,716 values for multiple elements, and multiple historic geophysical surveys. ArcPacific is utilizing this information to perform extensive and in-depth detailed analysis which is presently underway.
ArcPacific also reports that it has engaged two separate independent contractors to interpret and model the new extensive database. This includes a copper gold porphyry expert focused on litho-geochemical and geochemical modeling with the goal to determine the probability and potential locations of possible economic mineralization on the Project.
ACP has also contracted an AI company to utilize the extensive database to sus-out “hidden” targets within the Project area. AI machine learning programs are able to identify subtle indicators hidden within 200 thousand plus geochemical sample data points and incorporate multiple types of data including the various geophysical surveys completed to draw comparisons with known areas of elevated mineralization. This can lead to AI predictions potentially identifying new mineralised areas, either within the areas covered by existing surveys, or amazingly, predict mineralized areas outside of the coverage areas even potentially predicting mineralization under cover.
Early analysis indicates the presence of multiple hydrothermal systems present on the Project, historically evident from the decades of mining activity and exploration work that has taken place. Further analysis will help to better define the relative timing and extent of the well mineralized systems present, which can then be traced to one or multiple sources. The complete data analysis, including Project maps with interpretations and priority targets, will be released once complete.
Adrian Smith, CEO of ArcPacific Resources comments, “The LMSL has seen extensive exploration and mining activity within the last century due to the presence of wide spread mineral occurrences. ArcPacific is now in a position to take advantage of previous work by incorporating all available information, to determine what is responsible for the various zones of known mineralization. Previous work has mainly focused on small areas with impressive mineralization, however the presence of wide alteration zones could be telling a more significant story. Our goal is to utilize all the available data to identify patterns associated with hydrothermal cells as a whole, in order to validate their existence and provide a road map to potentially significant economic mineralization on the LMSL.”
The compiled and merged database is summarized below (complete data analysis pending):
| Rock Samples |
Rock Sample Type |
Soil Samples |
Silt Samples |
Drill Holes |
Drilled Meters |
Drill Hole samples |
Drill Hole Sample Width (m) |
|
|---|---|---|---|---|---|---|---|---|
| Number Recorded of | 291 | 4,821 | 73 | 115 | 18,767 | 6,121 | ||
| Assays Values Recorded | 8,896 | 94,386 | 2,482 | 174,952 | ||||
| High Gold Value | 50.82 g/t Au | Grab | 1.2 g/t Au | 9.44 g/t Au | 5.25 g/t Au | 2 meters | ||
| Total Samples > 1 g/t Au | 13 | 1 | 6 | 3 | ||||
| Total Samples > 0.2 g/t Au | 28 | 8 | 10 | 20 | ||||
| Total Samples > 0.05 g/t Au | 52 | 22 | 11 | 98 | ||||
| Total Number of Gold Assays* | 146 | 1,234 | 61 | 1,600 | ||||
| Total Number of Gold Assays BD** | 129 | 1,191 | 12 | 1,673 | ||||
| Average gold value of Assays*** | 0.7 g/t Au | 0.008 g/t Au | 0.41 g/t Au | 0.023 g/t Au | ||||
| High Silver Value | 2,444.9 g/t Ag | Grab | 111.1 g/t Ag | 25.3 g/t Ag | 274.6 g/t Ag | 1.06 meters | ||
| Total Samples > 100 g/t Ag | 20 | 1 | 0 | 7 | ||||
| Total Samples > 10 g/t Ag | 91 | 2 | 2 | 83 | ||||
| Total Samples > 1 g/t Ag | 163 | 214 | 3 | 1,157 | ||||
| Total Number of Silver Assays* | 233 | 3,099 | 49 | 2,524 | ||||
| Total Number of Silver Assays BD** | 46 | 591 | 24 | 2,752 | ||||
| Average Silver value of Assays*** | 37.6 g/t Ag | 0.47 g/t Ag | 1.1 g/t Ag | 2.47 g/t Ag | ||||
| High Copper Value | 3.54 % Cu | 1m Chip | 0.27 % Cu | 0.52 % Cu | 2.35 % Cu | 1.25 meters | ||
| Total Samples > 1 % Cu | 22 | 0 | 0 | 11 | ||||
| Total Samples > 0.2 % Cu | 64 | 2 | 1 | 184 | ||||
| Total Samples > 0.01 % Cu | 162 | 275 | 4 | 3,275 | ||||
| Total Number of Copper Assays* | 279 | 4,675 | 73 | 5,750 | ||||
| Total Number of Copper Assays BD** | 0 | 18 | 0 | 78 | ||||
| Average Copper value of Assays*** | 0.23 % Cu | 0.005 % Cu | 0.011 % Cu | 0.04 % Cu | ||||
| Total Samples Compiled | 11,306 | |||||||
| Total Assay Values Registered | 280,716 |
*Total number of assays registering above detection. Note detection limits vary significantly between sample sets.
**Total number of samples recorded below detection limit. Note detection limits vary significantly between sample sets.
*** Average values based on total number of samples and values above detection limits.
Note: Gold detection limits vary between 0.1 PPB to 2 g/t.
Note: Silver detection limits vary between 1 PPB to 2 g/t.
Note: Copper detection limits vary between 2 PPM to 0.01 %.
Rickard Gold Project
ACP is quickly advancing towards its initial planned and fully permitted drilling program at the Rickard gold project (the “Rickard Project”). The drilling will target the high grade gold shoots within the well-developed vein system present at the historic Rickard gold mine on the Rickard Project. Currently ACP is nearing completion of the 3D modeling of the historic underground workings on the property, and intends to utilize all historic information available to guide the upcoming drill program.
The Rickard Project is located in the Abitibi greenstone belt in Ontario, Canada, approximately 70 kilometres from Timmins in the Timmins Gold Camp. This camp alone has produced over 80 million ounces of gold over the last 100 years, making it one of the most prolific gold camps in Canada. The Rickard Project sits within 25 to 60 kilometres of six currently producing gold mines and eight previous producers.
Additional Rickard Project updates will be provided leading up to the commencement of the 2021 drilling program.
Disclaimer
The Qualified Person for the Company has not verified the historic analytical data disclosed within this release. While the Company has obtained all historic records including analytical data from the ARIS (Assessment Report Indexing System) from the Government of British Columbia, the Company has not independently verified the results of the historic sampling.
Qualified Person
Adrian Smith, P.Geo., is Qualified Person (“QP”) as defined by National Instrument 43-101 for the above-mentioned project. The QP is a member in good standing of the Association of Professional Engineers and Geoscientists of British Columbia (EGBC) as a registered Professional Geoscientist (P.Geo.). Mr. Smith has reviewed and approved the technical information disclosed above.
About ArcPacific Resources Corp.
ArcPacific Resources Corp. (TSX-V: 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. or contact us at: info@arcpacific.ca or 1.778.331.3816.
ON BEHALF OF THE BOARD OF DIRECTORS
/S “Adrian Smith”
CEO and Director
Certain information in this press release may constitute forward-looking information, including statements that address future production, reserve potential, exploration and development activities and events or developments that the Company expects. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. The Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to the Company. There are a number of risk factors that could cause future results to differ materially from those described herein. Information identifying risks and uncertainties is contained in the Company's filings with the Canadian securities regulators, which filings are available at www.sedar.com.
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.
Back To Archive