Vancouver, British Columbia – April 6, 2021 – ArcPacific Resources Corp. (TSXV: ACP) (“ACP” or the “Company”) is pleased to announce that it has commenced drilling at its Rickard Gold Project (the “Property“) near Timmins, Ontario. The initial drilling program now underway is designed to identify and define mineralization within a series of quartz veins, varying in size from under 1 metre to several metres in width, that are historically reported to contain gold. The initial drilling program will consist of up to 4,000 metres of NQ sized core in 15 drill holes.
The primary target type at the Property is high-grade gold within a well-developed greenstone-hosted quartz-carbonate vein system. The Property sits within the prolific Abitibi Greenstone Belt which hosts several world class gold deposits and boasts some of the deepest mining operations in the world. Geological similarities to other gold deposits within the region further highlight the significant depth potential at the Property, suggesting that it could extend several kilometers in depth.
Adrian Smith, CEO of ACP, comments: “We are incredibly pleased to report the commencement of ACP’s first drillhole of this initial drilling program. ACP benefits from the Property’s close location to key infrastructure which allows for cost-effective drilling and year-round access. We look forward to providing additional updates on our progress at the Property as they become available.”
The Property is located approximately 70 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 sits within 25 to 60 kilometers of six currently producing gold mines and eight previous producers.
The Property consists of 5,656 hectares of mining claims, including three patented parcels which are road accessible, proximal to power and a local work force. Access onto the project area is 20 kilometers from the nearest main highway where well-developed road networks make year-round operations possible. The Property remains open in multiple areas for new discoveries.
Adrian Smith, P.Geo., 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 Professional Geoscientists Ontario (PGO) 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
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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