Pacifico’s Phase 111 drilling returns robust results
Pacifico Minerals Limited (ASX:PMY) has this morning released positive results from its Phase III drilling program at its 75% owned Sorby Hills Lead-Silver-Zinc Project.
The news comes just days after it highlighted the significant progress it has made in the last three months, including a 20% increase in the global resource at Sorby Hills: a 53% increase in the total indicated resource to 16.6 million tonnes at 4.8% lead equivalent and 0.4% zinc through conversion of the Inferred Resource.
The total resource now stands at 36 million tonnes at 4.7% lead equivalent and 0.5% zinc.
Today’s news strengthens Pacifico‘s case with results from Phase III drill hole returning robust intersections and providing extensions to current mineralisation.
These results confirm the possibility of a new zone of shallow mineralisation.
Significant shallow drill intercepts from both B Deposit and Omega deposit include:
- 18.0m at 5.08% Pb,36g/t Ag and 0.2% Zn from 10m – Omega Deposit;
- 10.0m at 7.16% Pb, 383g/t Ag and 0.43% Zn from 110m –Omega Deposit;
- 6.0m at 9.53% Pb, 55g/t Ag and 0.32% Zn from 47m –Omega Deposit; and
- 10.0m at 4.73% Pb, 34g/t Ag and 0.46% Zn from 25m – B Deposit.
The Phase 111 program was focused on shallow mineralisation above 100m depth, that may be mineable by open pit, at B and Omega deposits.
Phase III consisted of 49 reverse circulation holes for a total of 3,265m.
Most holes were inclined at 60° and drilled at 270° towards the west.
Looking at Omega specifically. Intersections support the estimated grades and targeted mineralisation geometry at the Omega deposit and have further confirmed the geological continuity of the mineralisation.
The Omega deposit remains open to the west and southeast towards the B deposit.
The B Deposit is considered contiguous and is particularly shallow with only 9m of cover to the top of the mineralised horizon. Most of it lies above 40m depth.
It is possible the B Deposit links up with the Omega Deposit to the north. Pacifico geologists are confident that the mineralisation can be extend incrementally during future drilling campaigns.
Pacifico will continue its detailed review of the technical information to move the project forward.
It will also continue subsequent infill drilling and at the same time is focusing on delivering the PFS in the coming months.
The company is preparing for the next series of drilling campaigns to increase the mineral inventory.
Short-term positions in small, early stage ASX companies,
with high potential and near term price catalysts.
Focusing on resource exploration, early-stage tech, and biotech.
Exceptional opportunities across a broad range of
early-stage growth sectors with strong management.
Seeking 1,000% plus returns across medium to long-term holds.
Longer-term positions in a variety of sectors.
Seeking strong management where traction is established and have entered into a growth phase.
S3 Consortium Pty Ltd (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 only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.
Conflict of Interest Notice
S3 Consortium Pty Ltd does and seeks to do business with companies featured in its articles. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this article. Investors should consider this article as only a single factor in making any investment decision. The publishers of this article also wish to disclose that they may hold this stock in their portfolios and that any decision to purchase this stock should be done so after the purchaser has made their own inquires as to the validity of any information in this article.
The information contained in this article is current at the finalised date. The information contained in this article is based on sources reasonably considered to be reliable by S3 Consortium Pty Ltd, and available in the public domain. No “insider information” is ever sourced, disclosed or used by S3 Consortium.