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Adrian Smith, President & CEO, ArcPacific Resources Corp. (TSX-V: ACP) Discusses Exploring Their Copper, Gold & Silver Project in the Quesnel Terrane, British Colombia, World Renowned for its Copper and Gold Endowment

on 7/12/2022
We spoke with Adrian Smith, who is President, CEO and Director of ArcPacific Resources Corp. (TSX-V: ACP), a Canadian-focused, gold and copper exploration Company, advancing their 100% owned, Lucky Mike Silver Lode Project, located 20km north of Merritt, British Columbia, Canada, in the Nicola Mining Division. The project is adjacent to the largest copper mine, in Canada, in a known productive copper-gold porphyry belt. It is host to several past producing, silver, lead, zinc, skarn mines, surrounding poorly tested porphyry targets. Working closely with GoldSpot Discoveries, ArcPacific was able to compile and analyze decades of historic data and generate 24 new targets, on the LMSL property, prioritizing copper, gold, and molybdenum, porphyry systems. Plans for the summer include boots on the ground for the earlier stage work, as well as some drilling. The second project, ArcPacific is planning on working on this year, is the Blackdome Gold Project, located in the Clinton Mining Division, approximately 120 kilometres southwest of the city of Williams Lake, British Columbia, Canada. Blackdome holds very high discovery potential. ArcPacific is planning the first ever drilling on the project this summer.

ArcPacific Resources Corp.

Dr. Allen Alper: This is Dr. Allen Alper, Editor and Chief of Metals News, talking with Adrian Smith, CEO and Director of ArcPacific Resources Corp. Adrian, I wonder if you could tell our readers/investors about the discovery exploration work, you're doing on copper and gold projects, in great locations in Canada.

Adrian Smith: Absolutely. Thanks for speaking with me again. I'm happy to give you an update from our last interview. There have been quite a few developments on our copper and gold projects, in Canada. At the LMSL Project, which stands for Lucky Mike Silver Lode, we've been working closely, with a Company called GoldSpot Discoveries, utilizing their experienced Technical Team and also artificial intelligence and machine learning capabilities. Through this work on the LMSL project, compiling over 70 years of historic work, we can build off from all the groundwork that's been done, over the history, on the Project. This includes work on the historic producing mines on the project, soil grids, silt samples, rock samples, Geophysics studies, IP, mag, radiometrics, drilling, all this work that has been done on various parts of the property, we can now benefit from moving forward.

We wanted to take advantage of that, which is why we decided to use a Company like GoldSpot, who has a good depth of experience, in analyzing this information, and creating and generating new and untested targets from the data, or even identifying areas that have seen a lot of historic exploration and justifying additional work and development. We've recently received our final results, on this initial targeting phase, and we now have generated 24 new targets, on the LMSL property. GoldSpot has also provided insight through their Technical Team to prioritize the targets, based on how closely they fit with the geological models that we're chasing. Our main focus is to identify significant copper, gold, and molybdenum porphyry systems.

Dr. Allen Alper: That's excellent. I've worked with GoldSpot. I've interviewed them several times, and they've also recommended other Companies for me to interview. I am very impressed with the work they're doing. So, that's excellent!

Adrian Smith: Yeah, one of the great things is they've actually been able to lay out the work programs, specifically for each target, looking and identifying, not just as a broad sweep saying, "Go to work on these," they're justifying each individual target and qualifying it and saying, "Well, this is an early untested target. This target needs to see, either prospecting, as the earliest stage, or ground truthing, or soils, or some of the later ones, you're into Geophysics to confirm, or other ones, with your straight recommendation to drill." So, they've laid it out, in a very detailed manner that allows us to pick up what they've done and hit the ground running, which is really beneficial.

Dr. Allen Alper: Well, that's excellent! Could you tell us a little bit more? Could you tell us your plans going forward, for the summer and fall?

Adrian Smith: Absolutely! We have two projects. We just spoke about the LMSL Project, and that will be our main focus. We now have crews going out there and beginning some of the earlier stage work, boots on the ground, getting samples, confirming, doing some of this ground truthing work. We also plan to have a drilling program this year.

One of the main targets at the LMSL project is the Lucky Mike area, which is adjacent to a historic mine, on the property. It's an arcuate shape of skarn showings that form around, what we believe is, an intrusion at depth that is driving the skarn mineralization and could be quite a significant porphyry system. GoldSpot were able to really dig through all of the detailed data, and show that, that theory is warranted and deserves to be tested.

GoldSpot did a lot of good work, they've shown through modeling the potassic zonation, for example, which is a really good indicator of finding the heat source and zoning into these porphyry centres. The analysis shows a system is there and it is potentially only a few hundred meters, in distance, from the previous drilling, to where there could be something a lot more exciting. And we were already getting a lot of smoke in that area, including one of the longer holes, returning over 700 meters of 0.16 copper equivalent, peripheral to what we are targeting. So now, we want to see what is on the inside. And we're excited to go and do that this year.

Dr. Allen Alper: Well, that sounds excellent. Sounds like this year will be a very exciting time for your shareholders and stakeholders.

Adrian Smith: Absolutely. I'm excited, especially when it gets the geologists on the Team excited. That's usually a good sign.

Dr. Allen Alper: Well, that sounds excellent. Could you tell us a little bit about your other projects and any plans you have for those projects this year?

Adrian Smith: Yes, the other project that we're going to be focusing on, is also in BC. It is the Blackdome Project. In 2021 we had a discovery on it, by going out and doing initial groundwork. We completed the first trenching that was ever done on the project, and we confirmed that there's consistent gold mineralization at surface. In fact, I think, approximately 98% of our samples were highly anomalous in gold, which is just incredible. It shows just the sheer potential of the project. We were getting grab samples, from the surface, over eight grams gold and the average grades, across the entire length of the trenches, averaged around one gram gold, showing great potential for something big.

So, we're interpreting the Blackdome Project to be fairly high-level, in an epithermal system. Indicator minerals, such as stibnite, suggest, in a classic epithermal model, the system that we have is still fairly high. Meaning that the Bonanza-grade zones, as they're traditionally called, are below that. So, we know that we're high level in the system, it hasn't been eroded away and it's only been trenched for the first time by us.

We plan to continue doing additional surface work, including trench work, which will lead to drilling. And this project has never seen a drill. So, if we can lay out and map out how the geometry of the system is working, then we'll be able to target the feeder conduits and the potential higher-grade gold and silver mineralization.

Dr. Allen Alper: Well, that's excellent! That will truly be exciting when you start drilling in the Blackdome Projects!

Adrian Smith: Yeah. That will be a brand-new discovery, in that region. The region is a fairly well renowned region, as a mineralized belt. It's south of the Newton deposit, which is another low sulfidation gold, silver system. It is south of the prosperity mine, which is a very large copper, gold porphyry, and it is north of the Bralorne district. And so, you have all these world class size deposits that are sitting around you. This has never really been touched, it has been left alone. And we're finding out that there's definitely something going on and it's worth exploring.

Dr. Allen Alper: Well, that's excellent. What are your plans for the Rickard Gold Project and the Abitibi Greenstone Belt?

Adrian Smith: We're assessing our options at the Rickard, we hit four significant veins in 17 holes, a large shear zone system, and we didn't get the grades that we were hoping. And so, when we look at the potential projects and the use of our funds moving forward, we see a lot more potential to get a larger reward from the LMSL and Blackdome projects that are showing significant mineralization at surface and also in some of the historic drilling. We are open to joint venture or similar on it, because we know there is a significant hydrothermal system there. That said we're definitely going to be focusing our efforts on where we know that we can get good results and we see those good results at the LMSL Project and at the Blackdome Project, where we see significant mineralized systems.

Dr. Allen Alper: That sounds like an excellent approach and very wise. Could you tell our readers/investors a little bit about your background, Adrian, and your Team and Board of Directors?

Adrian Smith: I'm a professional geologist. I've been working in the industry for over 15 years. I worked for many years as an underground mine geologist and was able to see how these gold systems and other systems are developed in three dimensions and learned how to work underground. It is important to know what it takes to make a system economic. I've had experience in management roles in producing mines and from there, I decided to go into exploration. I've been successful developing new resources on projects that have never had any historic resource on them. I believe that we can do that, at both of these projects, that we have in BC. I think there's enough going on there, that with a little bit of drilling, we can put together a resource that's going to surprise a lot of people.

As far as our Technical Team, we have Mike Collins, who has a lot of technical experience, developing resources. He worked, for years, for Mining Plus, doing this type of work. We also have Kosta Tsoutsis, an ex-broker, who has a lot of experience, in financing resource companies, through deep connections in the industry. We also have Ken Chung and Collin Kim, who collectively bring over 50 years’ experience, in the mining sector, that goes a long way to move projects forward.

We have a good in-house Technical Team, but I believe that more heads are better, which is why I like to utilize groups like GoldSpot, who have that depth of technical expertise to fully employ, when we need it. So, they're an indispensable asset to us as well.

Dr. Allen Alper: Well, that sounds excellent. It sounds like you have a very experienced and strong Team and a diversified Team and Board. Well, that's excellent! Adrian, could you tell us a little bit about your capital structure?

Adrian Smith: Currently! We have just over 60 million shares outstanding, which given our current market price, makes us very attractive, when comparing to our piers to the north and south, along the same mineralized belt, in central BC. Currently we have about 300 in working capital, which we are using to complete the initial groundwork at the LMSL project, which is now underway. We have under 10 million warrants out, and under 3 million options, so the structure is respectable and has room to move.

Dr. Allen Alper: Could you tell our readers/investors, the primary reasons they should consider investing in ArcPacific?

Adrian Smith: Well, we are chasing a discovery type event, through drilling a significant drill hole. There is luck involved in this, but we are also making sure that we are doing all the right preparation, to give ACP the best chance to hit something significant. We think that our projects have been de-risked and have that higher potential for reward. We are looking for something to create that spark, to create that value. Currently it takes a significant discovery and that's really what we're striving for. So, we're committed to going and doing these programs that are going to create that opportunity, for our investors.

Dr. Allen Alper: Well, that sounds great. It sounds like you'll have a great location. You have great targets and an excellent Team. So, it sounds like it's very worth exploring and seeing what our investors should consider investing, in ArcPacific. Adrian, is there anything else you'd like to add?

Adrian Smith: Investors should watch the story! Get involved if they like, but yeah, definitely keep their eyes on it. I think it's going to be an exciting year, especially now that we have boots on the ground.

Dr. Allen Alper: That sounds excellent! Great talking with you again, Adrian. I'm very excited to see the results that they're going forward with.

Adrian Smith: Yeah. It's great to see that GoldSpot was able to produce some realistic results, for us, that we can actually put to use. The artificial intelligence actually identified an area, that they didn't have in their original data, which had a historic resource, with 70 million ounces at 0.23 copper equivalent. This was not input into the system, and we only acquired the area, after we initiated the review! This validated the work we are doing.

Dr. Allen Alper: Well, that's excellent. We’ll publish your press releases as they come out so our readers/investors can follow your progress.

Adrian Smith
CEO and Director

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