Quarterly Activities and Cashflow Reports
Perth, Jan 20, 2016 AEST (ABN Newswire) - Pacifico Minerals Limited (
ASX:PMY) ("Pacifico" or "Company") is pleased to provide its activities report for the December 2015 quarter.
Highlights
COLOMBIA
Berrio Project - Gold
- Underground channel sampling sampling identifies further high-grade gold mineralization close to the faulted contact, returning multiple ounce gold and silver assays including:
o 0.35 m @ 182.79 g/t Au and 579 g/t Ag (Sample MO6256)
o 0.10 m @ 70.86 g.t Au and 360 g/t Ag (Sample 43876)
o 1.30 m @ 16.54 g/t Au and 1296 g/t Ag (Sample 43861)
o 1.70 m @ 4.28 g/t Au and 21.58 g/t Ag (Composite) (Samples 43876,43877 and 43878)
- Selective grab sampling returns further high-grade
o 20.99 g/t Au and 203 g/t Ag (Sample 43868)
o 10.99 g/t Au and 15.6 g/t Ag (Sample 43866)
o 15.73 g/t Au and 8.5 g/t Ag (Sample 43867)
- Soil survey completed with the conclusion of the East Grid confirms the faulted contact as the area of highest exploration priority
AUSTRALIA
Borroloola West Project, NT - Copper/Zinc/Lead/Silver/Manganese
- Diamond drilling to test an apparent AEM conductivity bullseye completed (CCD04 to 464m).
- DHEM survey conducted on CCD04 confirms validity of geological interpretation, but apparent bullseye caused by near surface effects.
- field geological mapping and reconnaissance sampling defined an outstanding zinc-lead prospect at Four Mile with potential for relatively shallow McArthur River style mineralisation.
CORPORATE & FUNDING
- $500,000 raised through a placement to institutional and sophisticated investors.
- Consolidated cash balance at 31 December 2015 was approximately $2.2 million. The Company has no debt.
To view the full report, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-PMY-749515.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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