Vancouver, British Columbia--(Newsfile Corp. - October 15, 2020) - ArcPacific Resources Corp. (TSXV: ACP) ("ACP" or the "Company") is pleased to announce that it has mobilized a crew to the Rickard Gold Project near Timmins Ontario (the "Property") to complete a drone based Lidar and imagery survey. The survey has been designed to cover the area over and surrounding the historic past producing high grade gold mine, and the adjacent prospects.
This survey will allow the Company to pinpoint the exact locations of the historic workings including the mine shafts, surface workings, test pits, roads, drill sites, and historic infrastructure. This detailed survey will be incorporated into the geological model currently being developed allowing it to accurately plot the underground developments and mineralized structures from historic maps and plans. Based on this new data, ACP will be able to target the most productive zones within the mineralized system and expand on these areas in the planned and fully permitted drilling program.
The Rickard Gold Project
The Property is host to the historic high grade Rickard Gold mine in the Abitibi Greenstone Belt in Ontario, Canada. The project is located approximately 70 kilometres from Timmins in the Timmins Gold Camp which has produced over 80 million ounces of gold over the last 100 years. The project sits within 25 to 60 kilometers of six currently producing gold mines and eight previous producers.
Gold was discovered on the Property in 1917 and was quickly developed into a mine with the primary zone consisting of two, one to two meter wide, veins striking for at least 200 metres. Four shafts have been sunk on the Property to a maximum depth of 85 meters, where no mining has taken place below this level. Other highlights from the historic mine workings include up to 146.2 g/t over 1.5 meters (Rickard Gold Mines underground mine plans).
Only limited exploration drilling has been completed on the well-developed vein systems present, and given the significant vertical extent of many greenstone hosted quartz carbonate Archean lode gold systems in the region, potential exists to define a greater extent of the high grade shoots historically mined. Early indications suggest that there is a strong structural control on the high grade gold mineralization and that the historic high grades mined could not only extend to depth, but also be repeated an en-echelon structures elsewhere on the Property. Early reports on the project describe "spectacular" visible gold mineralization.
The Property has permits in place for drilling which will allow work to begin as soon as the historic data and targets locations have been verified by the Company. Year round access and proximity to major road networks makes year round drilling possible. The Property consist of 54 single cell mining claims and one multi cell mining claim for a total of 1,014 hectares which are easily accessible, proximal to power and a local work force. Access onto the project area is 20 kilometers from the nearest main highway.
The Qualified Person ("QP") for the Company has not verified the historic sample analytical data disclosed within this release. While the Company has obtained all historic records including analytical data from the previous owner of the Property, the Company has not independently verified the results of the historic sampling.
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 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 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 it 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.