Pacrim Energy Limited (ASX:PRE)
Melbourne, June 11, 2009 AEST (ABN Newswire) - Pacrim Energy Limited (ASX:PRE)(PINK:PCREF) is pleased to announce preliminary results from RC drilling at the 727 Prospect within the Redcliffe Gold Project near Leonora, Western Australia.
A close spaced (5m x 10m pattern) RC drilling programme was designed to further define the geometry, orientation and average grade of the body of mineralisation where previous RC yielded an intercept of 10 metres @ 5.07g/t gold.
It should be noted that the following results are from 5 metre composite samples and interpretation is as yet incomplete. The results from single metre split samples and geological input will be integral in this process.
- Hole GTRC 168 returned
(i) 31 metres @ 12.68g/t from 20m to 51m (EOH) inc.,
(ii) 5 metres @ 43.89g/t from 30m to 35m and inc.,
(iii) 11 metres @ 15.12g/t from 40m to 51m (EOH).
- Hole GTRC 160 returned
(ii) 23 metres @ 5.53g/t from surface to 23m (EOH), inc.,
(ii) 10 metres @ 12.47g/t from surface to 10m.
- Hole GTRC 161 returned
(i) 23 metres @ 1.72g/t from surface to 23m (EOH) inc.,
(ii) 15 metres @ 2.52g/t gold from surface to 10m.
- Hole GTRC 167 returned
(i) 30 metres @ 2.26g/t from 5m to 35m, inc.,
(ii) 5 metres @ 12.29g/t gold from 25m to 35m.
727 Prospect
Initial RC drilling at the 727 prospect in March 2009 confirmed the presence of gold mineralisation, returning a best intercept of 10 metres @ 5.07g/t gold from only 2 metres deep.
The proximity to surface of this oxide gold mineralisation provides an attractive opportunity to define a resource potentially amenable to open pit exploitation. Pacrim's current programme of RC drilling included three lines of close spaced vertical holes designed to further define the geometry, orientation and average grade of the body of mineralisation and to gain information on structural controls.
Gold mineralisation is occurring in highly weathered rock with quartz veining and associated pyrite mineralisation, evidenced by cubic limonite pseudomorphs of the precursor sulphide.
The preliminary results from several of the vertical holes have considerably exceeded the grade and width of previously reported intercepts. Again, it should be noted that the following results are from 5 metre composite samples and interpretation is as yet incomplete. The results from single metre split samples and geological input will be integral in this process and findings will be reported when available.
Information gained from this work should greatly assist planning and implementation of further exploration on this hither to sparsely explored trend.
Additional targets to be tested in the current RC drilling programme include geochemical soil anomalism, a line of historic shallow prospecting pits along a mineralised (pyritic) quartz structure, and further anomalous results from Pacrim's RAB drilling.
The objective of this work is to build on the established gold resource base suitable for open pit mining as Pacrim is looking to fast track development of these opportunities whilst continuing to advance the overall potential of the Redcliffe Project area.
For the complete Pacrim Energy Announcement, please click the link below;
http://www.abnnewswire.net/media/en/docs/60880-ASX-PRE-211097.pdf
Contact
Rodney Foster
Managing Director
Pacrim Energy Limited
Tel: +61-3-5333-3200
Fax: +61-3-5333-3650
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