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Vancouver, British Columbia – April 19, 2021) – ArcPacific Resources Corp. (TSXV: ACP) (“ACP” or the “Company”) is pleased to announce that four holes have now been completed at its Rickard Gold Project (the “Property”). The holes all intersected multiple (1 to 3 metre) wide multi-staged shear-zone hosted quartz-carbonate veins. The veins are observed to contain locally abundant massive to semi-massive pyrite, blebby chalcopyrite, and unidentified fine-grained smoky sulphide minerals which may be the source of gold historically identified in the area. Strong to pervasive albite-sericite-silica-pyrite alteration forms halos around the main vein sets, see figures 1 and 2 below or on the Company’s website under the Rickard Gold Project page.
Highlights:
Adrian Smith, CEO of ACP comments: “We are happily surprised to see such large vein sets that appear to be part of a robust long-lived deep-seeded shear zone acting as a conduit for mineralized fluids. This system has all the right ingredients and is hosted within one of the most prospective and productive geological greenstone belts in Canada.
We are just beginning to understand the important structures present and their control on gold emplacement, lessons that we will be able to apply to phase 2 drilling and to the many additional target areas spread across the Property. With the impressive vertical extents of other greenstone hosted gold deposits in the region, this could truly be a case where we are just seeing the tip of the iceberg.”
The initial observations from holes one through four (ACP-R-21001 to ACP-R-21004) successfully identified the presence of a shear-zone hosted quartz-carbonate vein system of appreciable width. Phase one drilling (planned 15 drill holes) remains underway at the Property. The drill core is currently being processed at the Company’s core facility near the project site where it is being logged in detail and sampled. Samples are being sent for detailed assay analysis at the ALS analytical laboratory located in Timmins, Ontario.
Completion of the remaining holes in the phase one program will enable a determination of the distribution of mineralization within the vein system and determine the orientation of the veins and shear zone which will allow for planning a phase 2 program. More information regarding the ongoing drilling program will be released as it becomes available, including more detailed maps, cross-sections, and assays.
The 5,656 hectare 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 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.
Disclosure
Apparent widths of veins intersected are estimated to be 90% of true widths in holes ACP-R-21001 and ACP-R-21004, 80% in hole ACP-R-21002, and 70% in hole ACP-R-21003.
Qualified Person
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
/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.
For further information, please contact us at info@arcpacific.ca or 1.778.331.3816.
