Drill Results
American Pacific Reports Underground Assays from Breccia Pipe and Decline Sampling at Madison Project
American Pacific Confirms High-Grade Underground Mineralization at Madison Project Ahead of 15,000-Metre Drill Program
Executive Summary
- American Pacific Mining Corp. reported high-grade assay results from underground sampling at its Madison Copper-Gold Project in Montana on May 7, 2026.
- Sampling targeted a newly identified breccia pipe and historical mine decline ramp, revealing copper up to 25%, gold up to 3.19 g/t, and silver up to 27.2 g/t.
- Results confirm a vertically and laterally continuous mineralized system linking shallow skarn mineralization to a deeper porphyry source.
- Sampling was enabled by seasonal groundwater level reductions exposing previously flooded underground sections.
- Management indicated the copper grades sampled were better than anticipated, suggesting the mineralizing system extends further south and west than previously thought.
- Next steps include integrating results into 3D models and refining drill angles for upcoming reverse circulation (RC) and diamond drilling programs targeting near-surface and deeper porphyry mineralization.
Material Impact
- The news validates the geological model supporting the 15,000-metre drill program announced on May 4, 2026, reducing exploration risk for the upcoming campaign.
- While high-grade sampling is positive, it represents historical underground data rather than new drilling results from the current program, limiting immediate valuation impact compared to a resource estimate update.
- The confirmation of porphyry pathfinder elements and system continuity supports long-term project potential but does not constitute a material change in financial outlook or production status at this stage.
- Given the prior announcement of a fully-funded drill program, this sampling data is viewed as incremental validation rather than a surprise discovery that fundamentally alters the investment thesis.
USGD · Price
Company Overview
- American Pacific Mining Corp. is an exploration company focused on advancing its Madison Copper-Gold Project in Montana as the primary asset following portfolio restructuring.
- The Madison Project historically produced 2.7 million lbs of copper at grades between 20% to 35% before ceasing operations in 2012, with nearby mines producing significant gold ounces.
- Recent exploration efforts have focused on identifying a deeper porphyry source linked to the known skarn mineralization using geophysics (MT surveys) and underground sampling.
- The company has divested non-core assets including the Palmer VMS Project (sold to Vizsla Copper) and the Tuscarora District (sold to ICG Silver & Gold) to concentrate capital on Madison.
More from American Pacific Mining Corp. - OLD
Jun 03, 2026 · 03:06