Annual Report 2015 to Shareholders
Perth, Sep 23, 2015 AEST (ABN Newswire) - Pacifico Minerals Ltd (
ASX:PMY) are pleased to provide the Annual Report 2015 to shareholders.
Chairman's Address:
Dear Fellow Shareholder,
I am delighted to present Pacifico's Annual Report for the year ending 30 June 2015. Over the past 12 months Pacifico delivered on our strategy of focusing on priority targets across our gold and base metals projects and rationalising our portfolio.
As you know, the 2015 financial year has been a very difficult one for the resources industry, particularly for companies at the exploration end of the industry spectrum like Pacifico.
Development of Pacifico's portfolio of assets has delivered an improved understanding of each project enabling an informed basis to plan the next stage of exploration with sensible management of available funds. Pacifico continues to explore with a clear objective of finding a world class mineral deposit but not without acknowledging the difficult equity market conditions and making sensible decisions when constrained by limited financial and personnel resources.
So let's touch on some of the year's highlights for the Company. In Colombia Pacifico struck a deal to acquire a 100% interest in a large exploration package at Berrio on favourable terms after which we exited the original Berrio JV. Surface and underground sampling demonstrated that high grade mineralisation continues into this new exploration package and strongly supports Pacifico's exploration strategy. At Natagaima Project mapping and sampling has outlined interesting gold/copper/silver targets. At the Borroloola Project in the Northern Territory of Australia we successfully managed the exit of Cliffs from the JV and continue to increase our interest at this project. Recently, drilling at Coppermine Creek confirmed extensive stratabound copper mineralisation in a favourable geological setting.
Market conditions remain difficult however I believe investment and reward are available to those juniors with the right portfolio, the right strategy and a clear path of how to return value to Shareholders. Pacifico sits in this space with its focus on priority assets and ability to progress them through prudent use of our shareholders funds.
To you our shareholders, the board is grateful for your continued support for Pacifico. To our committed and exceptional team, your board commend you for the dedicated services. To my fellow board members your support has been invaluable during this difficult year.
The year ahead does pose some challenges however I assure you that the team at Pacifico remain engaged and committed to fully exploiting the Group's exploration assets and delivering improved value to Shareholders.
Yours sincerely
Richard Monti
Chairman
To view the Annual Report, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-PMY-734511.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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