American Pacific Mining Corp (OTCMKTS:USGDF) (CSE:USGD) Stock Extends Fall: Company Provides Project Update

It has been a fairly tough time for investors in American Pacific Mining Corp (OTCMKTS:USGDF) (CSE:USGD) over the course of the past few days and the situation remained the same yesterday as the stock went down by as much as 4%. That took the cumulative decline suffered by the stock over the course of the past week to as much as 8%.

Market Reaction

On Monday, USGDF stock moved down 4.25% to $0.7181 with 477K shares, compared to its average volume of 380K shares. The stock moved within a range of $0.7181 – 0.7648 after opening trade at $0.7533.

American Pacific Mining Provides Madison Project Update

Although the stock performed poorly on Monday, it ought to be noted that the company actually provided an outline for its 2022 preliminary exploration programme at the Madison Copper-Gold Project that is located at Montana. The property is owned by American Pacific.

It may be a good idea for investors to take a look at some of the highlights of the preliminary work programme that was provided by American Pacific Mining Corp. First of all, American Pacific is going to conduct a total review of the skarn environment at the project. The review is also going to include a core review as well as visit to the actual sire by a globally well-known skarn expert. Field work is going to be focussed on gold mineralisation at the site. It may be a good idea for investors to consider keeping an eye on the developments.

Key Quote

American Pacific’s CEO, Warwick Smith, stated: “We are very pleased with the Kennecott partnership on Madison and look forward to further collaboration in 2022. The 2021 high-grade sampling and trenching results which extended the known mineralization well beyond the historical mine areas, as well as a new gold zone identified with last year’s drilling, speaks to the untapped potential across the Madison Project. We are fortunate to have an accomplished skarn expert to support interpretation and targeting efforts at Madison.”

Traders Review

USGDF stock is trading below the 20-Day and 50-Day Moving averages of $0.7462 and $0.8516 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.7351