Exploration home runs don’t necessarily happen on a company’s first drilling program.
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That said, an initial round of drilling can provide important information that can set up future programs to make a big discovery.
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This very scenario is what appears to be playing out for ArcPacific Resources’ (ACP.V; ACPRF.OTC) Rickard project.
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This historic gold producer sits just 70 kilometers off the prolific Timmins gold mining camp and comfortably within the confines of the Abitibi Greenstone Belt, home to more than 170 million ounces of gold production over the last 100 years.
As you’re about to see, the initial drilling ArcPacific conducted earlier this year provided big clues on how to vector in on high-grade at depth. This added to an abundance of past data, because of Rickard’s history of production, to help it with targeting.
And now the company is bringing 21st century analysis tools to bear on all that data, thanks to a just-inked deal with Goldspot Discoveries, an AI-machine learning company that played a key role in the recent Newfoundland gold rush.
Combined with new data from a recent, drone-flown mag survey, ArcPacific is setting itself up for what could be one of this winter’s more exciting drill programs.
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Rickard’s original owners first discovered gold there in 1917, but rather than conduct a systematic drill program, they just sunk a 100-foot shaft into the vein system and mined along the veins..
That shaft was subsequently extended to 200 feet in the 1930s and total underground development totaled 600 meters before low gold prices shuttered the mine.
The initial drilling program ArcPacific conducted earlier this year attempted to home in on extensions of past workings and to tag into new resource zones.
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ArcPacific has engaged Goldspot Discoveries to identify the best targets for follow-up drilling at Rickard based on an AI analysis of recent drilling and historical data. |
And while that program didn’t hit the bonanza-grade gold for which the Abitibi is famous, it did generate strong evidence of the kind of hydrothermal system that typically hosts high-grade in this region.
In short, ArcPacific has identified the right plumbing system at Rickard…now it just needs to follow the “pipes” back to depositional areas that it hopes will host big, high-grade caches of the yellow metal.
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Harnessing The Power Of AI
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To help with that effort, the company has engaged Goldspot to conduct an AI-machine learning analysis on the combined data from this recent drilling, the just-completed mag survey and from past exploration.
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This Eric Sprott-backed firm has made a name for itself in recent years by helping New Found Gold make the big Keats discovery on its Queensway project in Newfoundland.
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Goldspot’s broader analysis of the belt that hosts Queensway has been critical in identifying the most promising land packages in the ensuing gold rush in the province.
Though obviously more established, the Abitibi is a similar belt, and both ArcPacific and Goldspot are enthused about applying the same cutting-edge technology to target identification at Rickard.
All the markers of a major Timmins-style gold deposit are present at Rickard, and this partnership with Goldspot gives ArcPacific an excellent chance to make a high-grade discovery with its next drilling program there.
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British Columbia Projects Provide
Valuation Backstop
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Providing both brownfields and early-stage exploration blue sky to ArcPacific’s story are its LMSL and Blackdome projects in British Columbia.
LMSL lies in south-central British Columbia and comes with data from more than 70 years of past assessments on the property. Historic silver samples on the project have graded more than two kilograms per tonne of silver.
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ArcPacific’s Blackdome project is one of two British Columbia projects that provide a valuation backstop to the company’s Rickard project in Ontario. |
Then there’s the earlier stage promise of Blackdome. ArcPacific’s surface work on this gold-silver project, located in southwest British Columbia, has outlined multiple veins outcropping at surface.
A recent, first-ever trenching program returned promising gold grades that jibed with high-grade samples generated by past sampling on the project.
Simply put, there’s more than enough potential on both these projects to provide a great complement to ArcPacific’s work at Rickard.
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There’s no doubt, though, that the winter drilling program ArcPacific is planning for Rickard could light a fire under the company’s share price.
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With a big assist from the information provided by its initial drilling at Rickard and the analytical firepower Goldspot brings to target identification, ArcPacific is in excellent position to make the Abitibi’s next big, high-grade gold discovery.
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It’s a set-up that makes now a fantastic time to consider ArcPacific Resources for your portfolio.
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To Learn More about ArcPacific Resources
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