The Conversation (0)
American Copper Development Corporation (CSE: ACDX) (OTCQB: ACDXF) (FSE: D52) ("ACDX" or the "Company") is pleased to announce that it has received all required exploration permits from the Bureau of Land Management (BLM) and the New Mexico Mining and Minerals Division (NM MMD) to initiate a maiden 5,000-meter diamond drill program to explore for porphyry copper mineralization at its 100% owned Lordsburg Property located in southwestern New Mexico. The Company has contracted Major Drilling to complete this Phase I drill campaign.
Lordsburg Project Phase I Drill Program
The 5,000-meter diamond drill program commenced on March 25, 2023. The Phase I drilling campaign is designed to follow up on and extend previously identified porphyry copper related mineralization first identified by Entrée Gold in 2008-2009 drilling, test previously undrilled areas in and around the known high-grade copper, silver, gold vein mineralization at the historic Bonney and Misers Chest mines, and test newly identified areas for porphyry copper mineralization from the recently completed 3D DCIP/MT Titan survey completed by Quantec (Figure 1).
FIGURE 1: Phase I Drilling areas outlined over 3D gridded 2D Chargeability Inversion Model RL slice, 1,000m anomalies.
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Rick Van Nieuwenhuyse, Chairman, states, "It is exciting to finally get to drill some of the numerous targets at Lordsburg. It has taken several years to assemble a controlling land position on this largely untested porphyry copper district. The DCIP/MT survey identified a number of compelling targets - especially when combined with our multiple layers of technical data including detailed geologic mapping, ASTER hyperspectral alteration mapping, magnetics, soil geochemistry and LIDAR. For those about to drill, we salute you!"
The Lordsburg Project
American Copper's Lordsburg project is strategically located in a porphyry-rich copper region of southwest New Mexico at the intersection of the NE trending Santa Rita Lineament and the NW trending Texas Lineament. Significant historical production from the district includes 3-4M tonnes from polymetallic veins with average hypogene grades of 2-3% Cu, 2-3 opt Ag, and ~0.11 opt Au. Increasing copper grades are found at depth on the Lordsburg property with historically drilled intercepts from underground of +4% copper. Detailed geophysical and geochemical surveys suggest the potential for multiple porphyry centers on the property.
Marketing Services Agreement
The Company has entered into an arm's length marketing agreement (the "Marketing Agreement") with Sideways Frequency LLC ("SFLLC"). As consideration for SFLLC's marketing and investor awareness services (the "Services"), the Company has agreed to pay SFLLC a fee of $75,000 (USD) for an initial term of two months (the "Initial Term"). The Company may elect to renew the agreement at any point during the Initial Term.
The Services will include, but are not limited to, email campaigns, native advertising, display ads, lead generation, creation of content, strategic planning, digital advertisement placement, and overseeing progress and results of digital campaigns.
The Marketing Agreement does not include any securities of the Company. Aside from this engagement, the Company does not have any relationship with SFLLC and Mr. Wesley De Souza, CEO of SFLLC.
Qualified Person
Mark Osterberg, P.Geo., a Qualified Person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects, has read and approved all technical and scientific information contained in this news release.
About the Company
The Company is engaged in the business of mineral exploration and the acquisition of mineral property assets. Its objective is to locate and develop economic base and precious metal properties of merit and to conduct its exploration program on the Lordsburg Property in the state of New Mexico U.S.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
American Copper Development Corporation
For further information, please contact:
Daniel Schieber
Chief Executive Officer and Director
Phone: (778) 372-9888
Email: invest@american-copper.com
Cautionary Statement Regarding Forward-Looking Information
This news release includes certain "forward-looking information" under applicable Canadian securities legislation. Forward-looking information involves risks, uncertainties, and other factors that could cause actual results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information is necessarily based on a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties and other factors which may cause actual results and future events to differ materially from those expressed or implied by such forward-looking information. Accordingly, the forward-looking information discussed in this release, may not occur and could differ materially as a result of these known and unknown risk factors and uncertainties affecting ACDX. Although ACDX believes that the assumptions and factors used in preparing the forward-looking information are reasonable, undue reliance should not be placed on this information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Except where required by law, ACDX disclaims any intention or obligation to update or revise any forward- looking information, whether as a result of new information, future events, or otherwise.
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