PDAC video: American Pacific aims to ride US home-grown copper wave

Two American Pacific Mining (CSE: USGD; OTCQX: USGDF) projects in the U.S. may help meet Washington’s need for metal supply security, CEO Warwick Smith says.

“Having this domestic supply is going to be very important for the U.S.,” Smith said last month in a video interview at the Prospectors and Developers Association of Canada’s annual event in Toronto.

The projects in question are Palmer VMS in southeast Alaska and the Madison copper-gold project in Montana.

American Pacific has consolidated control of its assets during the past year while more than quintupling cash reserves to $16 million, the CEO said.

The company has launched a 3,000-metre second-phase drill campaign at Madison. Smith aims to deliver a maiden resource at the past-producing mine within 18 months.

At Palmer, the company’s January resource update put indicated and inferred resources at 16 million tonnes grading roughly 1.7% copper plus zinc, gold and silver. The district‑scale volcanogenic massive sulphide discovery, which has drawn interest from majors, could result in a joint venture or a sale as U.S. buyers hunt for secure copper sources, Smith said.

Watch the full interview below with MINING.com host Devan Murugan.