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Pacifico Minerals Ltd.
Summary
| Project: | Sorby Hills | |
|---|---|---|
| Deposit: | Sorby Hills | |
| Location: | Australia | |
| Commodities: | Lead-Zinc-Silver | |
| Date: | 3/7/2019 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 7-3-2019: Pacifico Minerals Ltd. announces a Resource Estimation report for its Sorby Hills deposit at the Sorby Hills project. Updated mineral resource estimate at the project. Pacifico Minerals Limited (“Pacifico” or the “Company”) is pleased to provide | |
| Resources: | (Resource, I+I): 29.98Mt @ 3.7% Pb, 0.6% Zn, 43g/t Ag | |
| CP/QP: | [Resources]: David Williams (CSA Global Pty Ltd.) | |
| ABSTRACT: | Pacifico Minerals Limited (“Pacifico” or the “Company”) is pleased to provide an update on the Sorby Hills Mineral Resource Estimate (“MRE”) following the initial Phase 1 drill campaign at its 75% owned Sorby Hills Lead-SilverZinc Project (“Sorby Hills”) located 50km northeast of Kununurra in Western Australia (ASX announcement, 14 February 2019). An updated Mineral Resource Estimate has been completed resulting in an increased (by 82%) Global Resource of 29.97Mt of 4.7% Pb equivalent (3.7% Pb, 43g/t Ag and 0.6% Zn, using a 1.0% Pb cut off). Within the Global Resource there is now an increased (by 123%) 10.85Mt of Indicated Resources with a grade of 5.0% Pb equivalent (3.9% Pb, 46g/t Ag) and 0.4% Zn using a 1.0% Pb cut off). The previous Mineral Resource Estimate (“MRE”) was completed in 2018 (ASX announcement, 24 August 2018). The MRE update has been completed by well-regarded resources specialist CSA Global (“CSA”) and is based on the analyses received from the initial 34 holes of the Phase 1 drilling program carried out in late 2018, initial results from a new mining study completed by an independent international mining Engineering specialist which supports a change in cut-off grade from the previous MRE, and an improved appreciation of the geological stratigraphy and structure. CSA Global have a long history of involvement with the Sorby Hills Project with CSA managing a drill program and completing a Mineral Resource Estimate in 2007. Importantly, this was the first drilling program at Sorby Hills since 1980. PMY’s Managing Director Mr. Simon Noon said: “We are very pleased to be able to announce an 82% increase in the tonnage of the Mineral Resource Estimate for our 75% owned Sorby Hills Lead-Silver-Zinc Project. Importantly, this includes a 123% increase in tonnage of Indicated Resources following infill drilling in late 2018. This greatly increases confidence levels and will underpin the 2012 Pre-Feasibility Study review and update which is due for completion in March 2019. As data continues to come in from final drill holes completed in late 2018 and with phase 2 drilling planned to commence in April, these resource figures are expected to rise further in 2019. We are confident that the Sorby Hills Resource base will continue to grow and subject to successful development the Project could potentially become one of Australia’s most significant lead producers.” | |
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