Diamond Drill Program Planned On Gooseberry Silver-Gold Project
VANCOUVER - American Pacific Mining Corp reported on exploration progress at the Gooseberry Gold-Silver Project, located in Nevada and under joint venture earn-in agreement with privately-owned, GRAC Global Resource Acquisition Corp. A 12-hole diamond drill program is planned for early Q2, 2021 at the Gooseberry Gold-Silver Project, a low sulphidation, epithermal vein system encompassing the historical Gooseberry silver-gold mine in Storey County, Nevada. The past-producing underground silver and gold mine operated for nearly a century between 1900’s and 1990’s, after which mining ceased due to low precious metals prices. No meaningful modern exploration work has been done on the project since 1994.
In November, American Pacific entered into an earn-in joint venture agreement with GRAC, whereby GRAC may earn up to 80% of the asset by making cash and share payments to American Pacific, spending $4.5M in exploration expenditures and completing a Positive Feasibility study.