American Pacific Gains Full Ownership of Palmer VMS Project, Secures US$10 Million
American Pacific Mining Corp. (CSE: USGD / FWB: 1QC / OTCQB: USGDF) has successfully acquired full ownership of the Palmer VMS project in Southeast Alaska. This marks a significant milestone for the company as it solidifies its strategic position in the region and enhances its portfolio of high-potential mining projects.
The Palmer VMS project is located within a prolific mining district known for its rich mineral deposits and favorable mining environment. The acquisition of full ownership provides American Pacific Mining with complete control over the project’s development and potential, allowing the company to advance its exploration and resource evaluation efforts more efficiently.
With the completion of the transaction, American Pacific Mining has also secured a financing package of US$10 million to fund further exploration and development activities at the Palmer VMS project. This financial infusion will enable the company to accelerate its exploration drilling programs, undertake detailed geological surveys, and conduct advanced metallurgical testing to better understand the project’s economic potential.
The Palmer VMS project is known for its significant copper-zinc mineralization, with previous exploration activities indicating the presence of high-grade mineralization with excellent potential for resource expansion. American Pacific Mining plans to leverage its technical expertise and industry experience to unlock the full value of the project and create long-term value for its shareholders.
In addition to advancing the Palmer VMS project, American Pacific Mining continues to actively explore and develop its other mining projects in North America, including the high-grade Tuscarora Gold project in Nevada. The company’s diversified portfolio of assets positions it well to capitalize on the growing demand for base and precious metals in the global market.
By consolidating its ownership of the Palmer VMS project and securing a substantial financing package, American Pacific Mining has demonstrated its commitment to driving value creation and sustainable growth for its stakeholders. The company’s proactive approach to project development and strategic investments bodes well for its future prospects in the mining sector and underscores its potential to deliver significant returns in the long run.
