Quarterly Activities Report
Sydney, July 20, 2015 AEST (ABN Newswire) - Pacifico Minerals Limited (
ASX:PMY) is pleased to provide its activities report for the June 2015 quarter.
Highlights
COLOMBIA
Berrio Project - Gold
- Soil sampling program over mineralised faulted contact identifies +1km long gold in soil anomaly which remains open to the south
- Underground channel sampling program completed and demonstrates that mineralisation at the faulted contact extends to depth with results including:
* 50cm @ 42.49 g/t Au, 77.5 g/t Ag and 0.24% Cu (43567)
* 50cm @ 33.24 g/t Au, 146 g/t Ag, 0.34% Cu and 0.84% Zn (43571)
* 80cm @ 31.41 g/t Au, 106 g/t Ag and 0.23% Cu (43566 and 43570)
* 50cm @ 8.19 g/t Au, 59.5 g/t Ag, 0.5% Cu and 23.48% Zn (43569)
- Additional soil sampling is ongoing to the east of the central grid to target shear hosted mineralisation in the Berrio Sediments, a style similar to that drilled by Pacifico in its 2014 campaigns.
- Pacifico's geologists are currently designing drill programs to test the continuity of high-grade mineralisation at the contact along strike and down dip of artisanal mines.
Natagaima Prospect - Copper/Silver
- Completion of phase two reconnaissance exploration provides further encouraging assays from grab samples including:
* 8.42g/t Au (MO5703)
* 6.2% Cu (MO5724)
* 2.30g/t Au (MO6207)
* 1.89g/t Au and 1.71% Cu (MO5716)
* 1.25g/t Au, 113g/t Ag and 6.05% Cu (MO6222)
AUSTRALIA
Borroloola West Project, NT - Copper/Manganese
- Completed field reconnaissance program and assessment of VTEM data leading to the development of drill targets for zinc - lead - silver and copper (Berjaya, Bing Bong and Coppermine Creek).
- Reverse circulation and diamond drilling commenced at Coppermine Creek prospect testing for both fault related and Mount Isa style stratabound copper mineralisation.
- Subsequent to the quarter end, drilling completed at Coppermine Creek with assay results expected by end of July 2015. Drilling also commenced at Bing Bong.
- Very encouraging visual results 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.
- Qualitative values of more than 25% Cu from a pXRF obtained from the semi-massive sulphide bands, over widths of up to 30cm.
CORPORATE & FUNDING
- Implemented several cost saving initiatives as part of annual cost review.
- Consolidated cash balance at 30 June 2015 was approximately $2.8 million. The Company has no debt.
To view the activities report, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-PMY-726820.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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