Broad Zones of Copper Mineralisation at Coppermine Creek
Perth, July 13, 2015 AEST (ABN Newswire) - Pacifico Minerals Limited (
ASX:PMY) ("Pacifico") is pleased to announce very encouraging visual results from its 3 hole drilling program at the Coppermine Creek Prospect, Borroloola West Project. Pacifico is earning up to 80% interest in the Borroloola West project from Sandfire Resources NL (ASX:SFR) under a farm-in agreement through staged exploration.
Highlights
- Drilling intersects significant intervals of disseminated chalcopyrite and bands of semi-massive chalcopyrite at Coppermine Creek.
- Drill core laboratory analyses expected to be received within two weeks.
- Further drilling warranted with all the indications in place for a significant copper discovery.
- Drilling currently underway at Bing Bong Prospect.
Drill core shows the Gordons Fault zone to contain broad zones of brecciation and dolomite-silica alteration of siltstones with both disseminated chalcopyrite and bands of semi-massive chalcopyrite. Stratabound disseminated chalcopyrite away from the fault is associated with a dolomitised ex-evaporite unit.
CCD03 (diamond core) contained veins and disseminated chalcopyrite between 38m and 67m. From 67m to 73m there is an interval corresponding to Gordons Fault which contains bands of semi-massive chalcopyrite, as well as chalcopyrite fracture fill and disseminations. The chalcopyrite is associated with only minor pyrite, and qualitative values of more than 25% Cu from a portable X-Ray Fluorescence instrument ("pXRF") were obtained from the semi-massive sulphide bands, over widths of up to 30cm. Drill core analyses are expected to be received within the next two weeks.
CCD02 was drilled reverse circulation ("RC") to 100m and then diamond core drilled to 315m. Significant amounts of disseminated and stringer chalcopyrite were observed in and adjacent to an ex-evaporite unit from 135m to 146m, and within a zone of intense brecciation and dolomitisation between 242m and 288m.
CCR01 was drilled RC to 71m and was abandoned due to lost circulation. The drillers were unable to put down casing in an attempt to continue diamond drilling the hole, however based on visual inspection of the chips from CCR01 encouraging copper mineralisation was evident from 44m to 59m. The hole failed to reach the copper mineralised Gordons Fault zone. Surface indications of mineralisation and previous shallow RC drilling indicate that this should be the thicker part of the mineralised fault.
Airborne electromagnetic ("AEM") conductivity profiles correspond to the drill intersected mineralisation and indicate a large 3km x 1km alteration and mineralisation system extending away from Gordons Fault to the south-west. Field reconnaissance in the vicinity of a 1000m x 350m conductivity high bullseye within the broad AEM anomaly led to the discovery of highly weathered silcretised gossan containing over 0.3% copper (qualitative value from pXRF).
Within the high conductivity bullseye, depth estimation using Pacifico's CCD02 and historical drilling relative to the AEM conductivity profiles, indicates a depth of 150m to 300m to the top of a conductive horizon.
The mineralisation style and host rocks at the Coppermine Creek Prospect are similar to the Mount Isa and Nifty copper deposits and some Zambian copper deposits. The style, extensive alteration system, copper mineralisation intersected to date and the high conductivity AEM bullseye warrant the planned further drilling.
Diamond drilling has commenced at the Bing Bong prospect with two diamond holes with RC pre-collars planned to test AEM anomalies for intrusive related copper-gold mineralisation. Co-funding for these two drill holes has been obtained from the Northern Territory Government.
To view figures and tables in release, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-PMY-726101.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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