Reconnaissance Completed Over Recently Expanded Berrio
Perth, Feb 19, 2015 AEST (ABN Newswire) - Pacifico Minerals Limited (
ASX:PMY) ("Pacifico" or the "Company") is pleased to announce the successful completion of phase one reconnaissance over part of its recently expanded Berrio Gold Project (see ASX announcement dated 21 January 2015 for further details) in the Antioquia Department of Colombia (see Figure 1 in link below). Two exploration teams completed 10 days of geological mapping, visiting artisanal mines and generating 39 selective grab samples.
Highlights
Phase one reconnaissance successfully completed at Pacifico's recently expanded Berrio Gold Project.
Faulted contact mapped for over 6 kilometres within Pacifico's recently acquired tenements and remains open to the south.
Grab samples at the faulted contact generated significant assays including:
- MO6120 - 240.11 g/t Au, 1,178 g/t Ag and 2.02% Zn
- MO6121 - 46.88 g/t Au, 166 g/t Ag and 1.12% Zn
Sampling of shears within the Berrio Sediments contained further encouraging assays:
- MO6101 - 94.97 g/t Au, 215 g/t Ag and 4.95 % Pb
- MO6102 - 11.76 g/t Au, 343 g/t Ag, 13.58 % Pb and 24.19 % Zn
Sample MO6171 taken from a low angle quartz vein in the Segovia Batholith contained 88.92 g/t Au and 761 g/t Ag.
The Managing Director of the Company, Mr Simon Noon, made the following comments in relation to phase one reconnaissance:
"We are very excited about having acquired such a large project area which looks to contain the same geology and prospectivity as the ground we have been exploring on in 2014 as well as other structural settings containing gold mineralisation. Our field teams are seeing a number of similarities on a much larger scale. We will adopt a low cost, value-add exploration approach on the new ground which we expect to define drill ready targets."
Outline of reconnaissance undertaken
Phase one reconnaissance built on the company's knowledge of mineralisation controls at the Berrio Gold Project. Shears hosted within the Berrio Sediments are known to host high-grade gold mineralisation at the Berrio Gold Project (see ASX announcement dated 4 August 2014 for further details). Selective sampling of artisanal gold mines revealed two further structural settings for gold bearing mineralisation at the company's Berrio Gold Project:
- Mineralised quartz veins formed at the faulted contact between the Segovia Batholith and Berrio Sediments.
- Shallow dipping vuggy quartz veins up to 30cm wide hosted in the Segovia Batholith flanked by alteration zones up to 4m wide.
Surface mapping focused on: tracing the faulted contact between the Segovia Batholith and Berrio Sediments; defining the extent of the Berrio Sediment package; and mapping structures in the Segovia Batholith.
Sampling of artisanal mines
Four artisanal mines within the newly acquired areas at the Berrio Gold Project were sampled by company geologists during phase one reconnaissance. Two of the artisanal mines actively target mineralisation at the faulted contact between the Segovia Batholith and Berrio Sediments; one artisanal mine hosts gold bearing mineralisation in vuggy quartz veins within the Segovia Batholith; and one artisanal mine exploits mineralised shears in the Berrio Sediments. Selective grab samples* were taken from working faces of these artisanal mines (see Table 1), generating encouraging results and demonstrating that three structural settings host mineralisation of interest at the Berrio Gold Project.
Geological mapping
Geological mapping during phase one reconnaissance focused on: recording the extent of the Berrio Sediment package; tracing the faulted contact between the Segovia Batholith and Berrio Sediments; and identifying structures in the Segovia Batholith (see Figure 2 in link below). 39 selective grab samples were generated whilst mapping (see Figure 2 and Appendix 1 in link below).
Mapping confirms that the expanded Berrio Gold Project contains a several fold increase of the highly prospective Berrio Sediment package (see Figure 2). Company geologists traced the faulted contact between the Segovia Batholith and Berrio Sediments for 6.2km within the recently acquired tenements of the Berrio Gold Project (see ASX announcement dated 21 January 2015 for further details). Regional geological maps published by the Geological Survey of Colombia suggest the contact continues south into tenements 6825 and 6826 for a further 7.8 km (see Figure 2 in link below). Mapping has also confirmed the faulted contact, considered by Pacifico to be highly prospective, lies west of the original 62ha within the Berrio Gold Project (see Figure 3 in link below).
Structurally controlled zones of mineralisation and alteration are recognised within the Segovia Batholith. The combined total width of such zones recorded to date is up to 4m.
Follow-up exploration
Several areas have been identified for follow-up exploration (see Figure 3 in link below). The second phase of reconnaissance will include:
- Mapping the southward continuation of the faulted contact between the Segovia Batholith and Berrio Sediments,
- Further assessment of altered structures in the Segovia Batholith, and
- Exploring for shears in the Berrio Sediments.
Crews will return to the field shortly with the aim of extending reconnaissance mapping and prospecting into tenements 6825 and 6826. Once complete, areas will be highlighted for more advanced exploration which may include extensions of soil geochemistry and induced polarisation surveys completed in 2014 into the recently acquired tenements (see ASX announcement dated 3 July 2014 for further details).
To view maps, tables and figures, please visit:
http://media.abnnewswire.net/media/en/docs/79376-ASX-PMY-20150218.pdf
About Pacifico Minerals Ltd
Pacifico Minerals Ltd (ASX:PMY) is a Western Australian based exploration company focussed on advancing the Berrio Gold Project located in Colombia. Berrio is situated in the southern part of the prolific Segovia Gold Belt and is characterised by a number of operational, artisanal-scale adits, tunnels, and declines. The project is 35km from the Magdalena River which is navigable to the Caribbean Sea and has excellent infrastructure in place including hydro power, sealed roads, water supply and telecommunications coverage. Pacifico also has an interest in two other projects in Colombia (Natagaima and Urrao) and one project in the NT, Australia (Borroloola West Project).
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