Provides Strong Impetus For Optimised PFS
Pacifico Minerals Limited (ASX: PMY) has released an updated Mineral Resource Estimate (MRE) for the 75% owned Sorby Hills Project in Western Australia following integration of Phase III drilling and a comprehensive review of its geological and analytical data base.
Managing Director, Simon Noon, said that following its recent Phase III drilling programme and an in-depth review of both historic and recently acquired data, Pacifico engaged independent mining industry consultants CSA Global Pty Ltd to verify the data and its interpretation and undertake an updated MRE for the Sorby Hills Lead-Silver-Zinc Project.
Highlights of the MRE upgrade includes:
- 7.1 million tonnes at 6.1 % Pb equivalent (4.3% Pb, 57g/t Ag) and 0.4% Zn classified as Measured Resources.
- 20% increase incontained lead in the Measured & Indicated(M & I) resource category to 20.8 million tonnes at 4.9 % Pb equivalent(3.6% Pb, 40g/t Ag) over the previous MRE.
- Overall, 19% increase in contained Silver (54.8 million ounces) including a 28% increase in the M & I category (26.8 million ounces).
- Overall, 9% increase in contained lead to 44.0 million tonnes at 4.5% Pb equivalent(3.3% Pb, 38g/t Ag) and 0.5% Zn over previous MRE.
- A significantly higher degree of confidence in the geological and mineralisation model an invaluable tool when targeting orebody extensionsgoing forward.
- Optimised Pre-Feasibility Study to include new pit optimisationsusing the significantly upgraded resource classifications.
“We’re truly excited to be able to announce a very significant update of the Mineral Resource Estimate for the Sorby Hills Lead-Silver-Zinc Project,” Mr Noon said. “On the back of our last round of drilling and meticulous examination of historic information, Pacifico has made a major step forward and established significant confidence in the geological and resource model which is expected to have a flow on effect on the upcoming Optimised PFS.”