The mining newspaper for Alaska and Canada's North
The mining newspaper for Alaska and Canada's North
North of 60 Mining News – January 12, 2024
Core from a 15.4-meter interval in hole CMR23-171 averaging 9.12% copper, 5.21% zinc, 0.87 g/t gold, and 41.9 g/t silver.
Click on image for larger Palmer deposit long-section.
American Pacific Mining Corp. Jan. 10 reported multiple holes with spectacular copper grades over wide widths at Palmer, a volcanogenic massive sulfide project near the port town of Haines in Southeast Alaska enriched with zinc, copper, gold, and silver.
According to a 2018 calculation, the Palmer project hosts 4.68 million metric tons of indicated resource averaging 5.23% (539 million lb) zinc, 1.49% (154 million lb) copper, 30.8 grams per metric ton (4.6 million oz) silver, and 0.3 g/t (451,000 oz) gold; plus 9.59 million metric tons of inferred resource averaging 4.95% (1.05 billion lb) zinc, 0.59% (124 million lb) copper, 69.3 g/t (21.4 million oz) silver, and 0.39 g/t (120,600 oz) gold.
All the indicated resources and just over half of the inferred resources are located in the main Palmer deposit, which is comprised of the RW and South Wall zones, with the balance of the inferred resource hosted in the nearby AG Zone.
Further defining resources within the main deposit was a primary focus of the 2023 field program at Palmer.
Previously released highlights from the 2023 drilling at the South Wall 1 (upper) and South Wall 2-3 (lower) zones in the main Palmer deposit include:
• 14.8 meters averaging 1.26% copper, 7.68% zinc, 0.44 g/t gold, and 39.8 g/t silver in hole CMR23-152 (South Wall 1).
• 23.4 meters averaging 1.78% copper, 13.73% zinc, 0.25 g/t gold, and 32.4 g/t silver in hole CMR23-153 (South Wall 1).
• 27.2 meters averaging 1.87% copper, 3.48% zinc, 0.36 g/t gold, and 21.9 g/t silver in hole CMR23-157-01 (South Wall 2-3).
• 30.7 meters averaging 2.59% copper, 11.21% zinc, 0.3 g/t gold, and 28.5 g/t silver in hole CMR23-162B.
• 39.1 meters averaging 1.44% copper, 5.87% zinc, 0.34 g/t gold, and 18.2 g/t silver in hole CMR23-165.
The final batch of assays includes four of the most significant copper intercepts so far at Palmer. These strong copper intercepts in South Wall Zone 1 include:
• 37.1 meters averaging 4.57% copper, 8.44% zinc, 0.5 g/t gold, and 29.3 g/t silver in hole CMR23-167.
• 33.2 meters averaging 5.48% copper, 7.22% zinc, 0.64 g/t gold, and 36.8 g/t silver in hole CMR23-169.
• 23.9 meters averaging 9.03% copper, 3.49% zinc, 0.83 g/t gold, and 41.8 g/t silver in hole CMR23-171.
• 43.8 meters averaging 6.54% copper, 3.15% zinc, 0.42 g/t gold, and 28 g/t silver in hole CMR23-172
"The final assay results from Palmer's 2023 resource definition drilling have exceeded expectations with tremendous copper grades and aggregate metals values over significant widths," said Peter Mercer, senior vice president of advanced projects at Palmer. "Last year's drilling has extended the mineralized envelope beyond the current MRE (mineral resource estimate) and our team is updating our 3D geological model."
American Pacific says the results from the 2023 drilling highlight the potential for expanding the known resource and discovering new mineralized lenses at the main Palmer deposit.
"Preliminary interpretations have highlighted several priority target areas for follow-up drilling in 2024," Mercer added. "In addition, the knowledge gained from this year's drilling will provide valuable insights as we re-evaluate and rank the numerous VMS showings throughout the mineralized district."
In addition to resource definition drilling, the roughly US$20 million program funded by American Pacific's joint venture partner Dowa Metals & Mining Co. carried out at Palmer during 2023 included geotechnical drilling and environmental baseline work to support feasibility-level studies for Palmer, as well as a small exploration drill program at the end of the field season.
Over his more than 16 years of covering mining and mineral exploration, Shane has become renowned for his ability to report on the sector in a way that is technically sound enough to inform industry insiders while being easy to understand by a wider audience.
Reader Comments(0)