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ArcPacific Acquires the Silver Lode Claims and Provides Update
August 10, 2020 5:00 AM EDT | Source: First Atlantic Nickel Corp.
Vancouver, British Columbia--(Newsfile Corp. - August 10, 2020) - ArcPacific Resources Corp. (TSXV: ACP) ("ACP" or the "Company") is pleased to report that it has acquired the 2,065 Hectare "Silver Lode" claims (the "Claims") by means of staking and has significantly expanded the Company's land position in the historic Nicola mining division, near Merritt in southern British Columbia. The new Claims adjoin the Company's Lucky Mike Project (collectively the "Property") and brings the total land position in this prolific mining district to 8,151 Hectares.
The new Claims ensures that Arc Pacific is well positioned to explore a 5 kilometre trend of past producing silver mines and prospects now fully encompassed within its 15 kilometre long land package in this prolific mining district (See Figure 1). Reported historic mining on the Property area indicate shipments of 118 tons of ore with an average grade of 1 g/t Au and 2,014.8 g/t Ag (ARIS Report 15312).
In addition to the past producing mines on the Property there are several key silver prospects yet to be explored by modern techniques. Between July 10 and August 15th, 1986, Altar Resources Ltd completed detailed geological mapping, sampling, and geophysical surveys which resulted in outlining an oxidized zone 600 meters long, 25 to 70 meters wide with very encouraging silver assay results. A few samples taken from this zone assayed between 50.6 g/t Ag to 2,228.4 g/t Ag (ARIS Report 15312).
Figure 1: Silver Lode and Lucky Mike Claims Property Geology Map
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/6963/61368_6ea8c3e0143a5b00_003full.jpg
ArcPacific recognizes the significant high-grade silver potential within the 5 kilometre trend of historic past producing mines and prospects now fully enclosed within the Property area. The Company is currently planning an exploration program to increase its understanding of this significant area.
The Silver Lode Claims and Lucky Mike Project area is host to multiple styles of mineralization including silver-lead-zinc veins and replacements, polymetallic quartz veins, skarn type mineralization, and copper porphyry mineralization. Recent efforts have focused on the porphyry potential on the Property which remains open for additional exploration. The Property is situated in the Quesnel Terrane and is underlain by volcanic and sedimentary rocks of the later Triassic to early Jurassic Nicola Formation. These rocks have been intruded by Tertiary volcanics of variable composition.
Figure 2: Silver Lode and Lucky Mike Regional Geology Location Map
To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/6963/61368_6ea8c3e0143a5b00_004full.jpg
Disclosure
The Qualified Person for the Company has not verified the historic soil and rock analytical data disclosed within this release. The Company has not independently verified the results of the historic sampling.
Adrian Smith, P.Geo., is Qualified Person 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 (APEGBC) as a registered Professional Geoscientist (P.Geo.). Mr. Smith has reviewed and approved the technical information disclosed above.
About ArcPacific
ArcPacific Resources Corp. (TSXV: ACP) is a Canadian based company focused on creating shareholder value through discoveries and strategic development of mineral properties. The Company is now seeking new business opportunities or mineral properties. For further information, please visit http://www.arcpacific.ca.
ON BEHALF OF THE BOARD OF DIRECTORS
/S/'Adrian Smith"
Director
The forward-looking statements contained in this press release are made as of the date hereof and ArcPacific Resources Corp. undertakes no obligations to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws
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.
For further information, please contact us at info@arcpacific.ca or 1.778.318.3816.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/61368