ArcPacific Mobilizes Geophysics Crew to Rickard Gold Project
Vancouver, British Columbia--(Newsfile Corp. - July 28, 2021) - ArcPacific Resources Corp. (TSXV: ACP) ("ACP" or the "Company") is pleased to report that it has mobilized a geophysics crew to the Rickard Project (the "Property"), to complete a detailed drone-based magnetic geophysical survey over the recently identified structural corridor on the Property located in Ontario, Canada (see Figure 1 below).
- Drone based magnetic survey covering 500-line kilometers
- Utilizing new technology to generate highly detailed structural mapping
- Targeting structural corridor possibly acting as fluid conduits carrying gold bearing fluids
- Targeting untested 2nd to 3rd order structural splays off regional scale fault
- Recently confirmed hydrothermal system carrying gold and pathfinder elements
- Phase 2 exploration planned to test new targets along path of fluids looking for gold traps
The detailed magnetic survey now underway, will consist of 500-line kilometers at a 25-metre spacing. The survey is designed to provide detailed coverage over the interpreted structural corridor that connects the Rickard Main zone in the northwest portion of the project with the regional scale North Pipestone Fault (NPF) which passes through the southern portion of the Property (see Figure 1 below). The NPF structure is a major regional splay off the prolific Destor-Porcupine Fault and cuts similar rocks as the nearby Kirkland Lake and Timmins areas, located 70 kilometres to the south and 65 kilometres to the southwest respectively.
Adrian Smith, CEO of ACP comments, "We are excited to be using the newest techniques in exploration technology which will allow us to generate extremely detailed magnetic maps over broad areas. We plan to integrate the new information gathered in this survey with our current database and compare this with existing data from the extensive scientific research that has been completed on the numerous deposits in the area. We are also looking to utilize the latest in artificial intelligence (AI) technology to process the new data and add another layer of probability to the targeting for the Company's planned Phase 2 drilling program."
Initial exploration at the Property successfully identified a large hydrothermal vein system with quartz-carbonate veining and related albite-sericite-silica alteration present over 10's of meters true-width. The Company's geologists were able to determine that the veins are extensional in nature and formed as a result of north-south oriented shear structures. These north-south structures may represent fluid conduits, providing pathways for the gold bearing fluids originating from the regional scale fault system to the south. The current detailed survey is designed to map these structures in order to identify possible structural traps that create ideal locations where gold could be deposited. This new survey will aid in targeting for Phase 2 drilling.
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The Property covers a prospective 5,656 hectares of the Abitibi Greenstone Belt located approximately 65 kilometres from the town of Timmins in the Timmins Gold Camp which has produced over 80 million ounces of gold over the last 100 years. The Property is road accessible and sits within 25 to 60 kilometers of six currently producing gold mines and eight previous producers. Large areas of the Property remain untested and under cover.
Adrian Smith, P.Geo., CEO and Director of ACP is a QP as defined by National Instrument 43-101 for the above-mentioned project. The QP is a member in good standing of the Engineers and Geoscientists of British Columbia (EGBC) and is a registered Professional Geoscientist (P.Geo.). Mr. Smith has reviewed and approved the technical information disclosed above.
About ArcPacific Resources Corp.
ArcPacific Resources Corp. (TSXV: 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.
ON BEHALF OF THE BOARD OF DIRECTORS
/S "Adrian Smith"
CEO and 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.
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