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Pacifico delivers latest drilling update for WA lead-silver-zinc play

Published 03-DEC-2018 11:37 A.M.


2 minute read

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Emerging base and precious metals group, Pacifico Minerals (ASX:PMY), has released an update on drilling activities as part of a major ongoing drill campaign at its Sorby Hills Lead-Silver-Zinc Project, located 50km northeast of Kununurra in Western Australia.

After completing the acquisition of a 75% interest in the project, PMY moved quickly to mobilise an RC drilling rig and a diamond drilling rig, with the program aiming to provide a higher confidence JORC Resource estimate (by increasing Indicated Resources) to include in a pre-feasibility study (PFS), which will be completed in 1H 2019.

PMY has this week mobilised an additional diamond drill rig and now has two operating at Sorby Hills.

72 RC drill holes were completed for a total of 3,932 metres drilled; 13 diamond tails have been completed for a total of 1019 metres drilled; and 34 of the RC drill holes were drilled as pre-collars to allow diamond drill tails of these holes to intersect mineralisation. All drill holes have been inclined at 70 and drilled at 270 (towards the west).

Sorby Hills mineralised corridor showing lead-silver deposits with a Global Mineral Resource Estimate totalling 16.5Mt @ 4.7% lead, 0.7% zinc and 54 g/t silver.

PMY expects assay results to be received during December and January. Furthermore, all diamond core will be oriented and enable structural measurements to refine the understanding of the style and type of the Sorby Hills base metal mineralisation.

As well as expected galena (lead sulphide) intersections, significant amounts of sphalerite (zinc sulphide) have been observed in the drill core.

Massive sulphides – typical galena (grey-blue) with pyrite (bronze colour), diamond core from AF005, 82.1m. Strong lead mineralisation is intersected over 9.4m length in this particular hole.

PMY has also kicked off the technical work required to undertake mining and metallurgical studies for its new feasibility study.

Last month, the ASX small cap announced that the investment group of Tony Poli, co-founder of former ASX-listed group, Aquila Resources, came onboard as a substantial shareholder in the company.

Projected upcoming drilling results are expected to boost confidence in PMY’s existing Mineral Resource Estimate of 16.5 million tonnes at 4.7% lead, 0.7% zinc and 54 grams per tonne silver, as well as enhancing the economics of the upcoming PFS.

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S3 Consortium Pty Ltd (S3, ‘we’, ‘us’, ‘our’) (CAR No. 433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information and is for informational purposes only. Any advice is general advice only. Any advice contained in this article does not constitute personal advice and S3 has not taken into consideration your personal objectives, financial situation or needs. Please seek your own independent professional advice before making any financial investment decision. Those persons acting upon information contained in this article do so entirely at their own risk.

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