American Pacific Mining Corp Provides Updates on Palmer VMS Project
district. Two diamond drill rigs dedicated to the infill drill program have collared 14 holes, with good productivity and 46% of the program now complete. The third diamond drill rig, focused on hydro-geotechnical drilling in the immediate deposit area, has collared five holes, to date. The 2023 drilling builds upon the Company's confidence in the current geologic modeling of the VMS lenses within the Southwall Zone, while gaining valuable geotechnical insight into the surrounding wall rock. Logging of drill core from Southwall Zone 1 indicates massive and semi-massive sulphide mineralization up to 43 m in drilled thickness and defined by a sphalerite-rich eastern limb, a chalcopyrite-rich core and increasing pyrrhotite-
pyrite mineralization through the centre of the lens. Drilling will continue to test the western portion of Zone 1 and the extent of the mineralization. Directional drilling of Southwall Zone 2-3 has provided insight into the structural complexity of the deposit at depth, allowing for precision targeting of desired intersections. Two distinct sphalerite-chalcopyrite-pyrrhotite-barite massive sulphide horizons have been visually identified through core logging at approximately 39 m in drilled thickness. In addition, ongoing analysis of historical geochemical data continues to highlight areas with high-grade potential near the Southwall Zone. Team and Safety The Company is building the team and facilities to fully evaluate the Palmer Project over the next several years. This year's field program is being executed with 41 direct employees, 11 are year-round and 30 are full-time until late October. The Company has built a high-performing team, adding a Human Resources Manager, Financial Controller, Health and Safety Superintendent, Site Manager, Exploration Manager and several technical experts. The Project's ongoing hazard awareness and risk reduction focus will continually aim for safety performance. The Company's safety record has remained excellent, with zero reportable lost time injuries to date. Environmental Programs An important part of Palmer's 2023 programs is broadening the understanding of environmental conditions in and around the Project area. The environmental team has been planning baseline studies to properly evaluate new areas for potential infrastructure. These studies include wetland mapping, noise monitoring, measuring ambient light, and fish and wildlife surveys. A continued priority for the environmental team is ensuring Palmer's environmental studies and monitoring provide community confidence in the Project above and beyond regulatory compliance. Geotechnical Studies The 2023 geotechnical program will be focused on data acquisition to evaluate potential locations for Project infrastructure. The company has been working with contractors to be field ready marking the beginning of a multi-year effort to evaluate infrastructure locations and design. Overall, the focus of these programs will be to identify the best location possible for site infrastructure from multiple perspectives, allowing the Company to design the best project for the region.