Releases Updated Research Note
Pacifico Minerals (PMY) intersected copper mineralisation at its Borroloola West Project in the Northern Territory (earning 80% from Sandfire Resources (ASX:SFR)). The program tested a sparsely drilled target, confirming the geological model. Although early stage, this target could have scale given a strike length of ~1.0km.
Importantly, a "bullseye" EM anomaly, located ~2.5km SE of this prospect remains untested and will likely be followed up as a priority target in the next program. PMY has also completed a significant amount of soil and underground channel sampling at its Berrio project in Colombia, targeting a prospective contact. Following a deal with AngloGold in early CY15, PMY's tenement package now covers a ~14km strike length (6.2km mapped, 7.8km projected) of the contact. A potential reconnaissance drilling program could commence in H2 CY15.
To view the Argonaut Securities research note, please visit:
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).
Sandfire Resources NL
Pacifico Minerals Ltd
Anglogold Ashanti Limited