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Pacifico Minerals Ltd. Berrio Gold Project Exploration Update

17.11.2015  |  ABN Newswire
Perth, Australia (ABN Newswire) - Pacifico Minerals (ASX:PMY) is pleased to provide an update on exploration activities from the Berrio Gold Project, Colombia, including further channel sampling from within artisanal mines close to the faulted contact as well as the conclusion of the soil sampling program.


Highlights

- Underground channel sampling sampling identifies further high-grade gold mineralization close to the faulted contact, returning multiple ounce gold and silver assays including:

* 0.35 m @ 182.79 g/t Au and 579 g/t Ag (Sample MO6256)
* 0.10 m @ 70.86 g.t Au and 360 g/t Ag (Sample 43876)
* 1.30 m @ 16.54 g/t Au and 1296 g/t Ag (Sample 43861)
* 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

* 20.99 g/t Au and 203 g/t Ag (Sample 43868)
* 10.99 g/t Au and 15.6 g/t Ag (Sample 43866)
* 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

Background

A faulted contact, separating the Berrio Sediments from the Segovia Batholith, extends for 14 km within the Berrio Project, less than 25% (approximately 3 km) of which has been explored in any detail. Pacifico interprets this contact to be a critical control for high grade gold mineralization exploited by artisanal miners in the area. Artisanal miners typically exploit high-grade but mostly discontinuous lodes in the Berrio Sediments or narrow quartz veins in the Segovia Batholith, both of which are most abundant close to the contact.

Examples of artisanal miners operating at the contact are limited, Pacifico believe, this is in part due to suppressed topography at the contact which often hides the contact below the water table and beyond the reach of most artisanal miners.

During 2015 Pacifico started exploring the contact with soil geochemistry, starting at the north and working south, and defined several gold in soil anomalies one of which extends unbroken from over 1 km (see figure 1, in link below) (see ASX announcement 25 June 2015). Channel sampling of a mine, which exploits mineralization at the contact, identified significant precious and base metal mineralization extending 20m below surface and 22m along strike (see figure 1), remaining open in both senses (see ASX announcement 9th July 2015).

Recent Exploration

Recent channel sampling in artisanal mines, at various points on and close to the contact, identified several instances of gold mineralization in excess of 1 Oz/t as well as associated silver, copper and zinc mineralization.

- 0.35 m @ 182.79 g/t Au and 579 g/t Ag (Sample MO6256)
- 0.10 m @ 70.86 g.t Au and 360 g/t Ag (Sample 43876)

A selective grab sample taken from an ore pile of a mine located within the Berrio Sediments generated encouraging results;

- 85.39 g/t Au and 2178 g/t Ag (Sample MO6259)

Channel Sampling

Expanding on the channel sampling program started earlier in the year (see ASX announcement 9 July 2015) a further eleven artisanal mines were evaluated by Pacifico, of which, five were sampled - all of which are located in the northern most 3 km of the contact within Pacifico's tenements. 26 channel samples were generated (see table 1, in link below) at or close to the faulted and mineralized contact (see Figure 1 and refer to ASX announcement 18 February 2015).

Selective Grab Sampling

Four selective grab samples were taken from an ore pile of a mine exploiting quartz veins in the Segovia Batholith; (view table in link below).

Soil Sampling

The soil survey, extending across the contact, concluded with the completion of the East Grid (see figure 5, in link below), earlier surveys were reported previously (see ASX announcement 25 June 2015).

The East Grid extended 1 km north-south over of the Berrio sediments east of the faulted contact. The western portion of the soil survey recognized anomalism coincident with artisanal mines. The soil survey suggests that mineralization hosted in the Berrio Sediments diminishes with increasing distance from the faulted contact.

Further Exploration

Efforts are ongoing to identify and gain access to abandoned artisanal mines which have not yet been channel sampled.

Pacifico will return to active mines, as they advance, to collect further channel samples.

Drill Testing

To further explore and develop our understanding of the contact trenching has been considered but is not thought suitable for large parts of the contact because;

- The contact is closely associated with topographic lows through which water often flows

- Slopes leading into valley bottoms are densely forested requiring the removal of a large number of trees and associated environmental permitting

Planning of a drill program, targeting mineralisation at the faulted contact is well underway. Placement of drill holes will be based on a combination of data including:

- Field mapping
- Channel sampling in artisanal mines
- Grab sampling
- Soil geochemistry
- IP survey

These drill holes will be designed to test the contact in areas considered to have the highest probability of hosting mineralisation. Drill holes will be proximal to artisanal mines adding weight to the belief that anomalies could be a reflection of underlying mineralisation.

To view the full release including tables and figures, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-PMY-742729.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).



Contact:

Simon Noon Managing Director
Pacifico Minerals Ltd.
T: +61 8 6266 8642
E: info@pacificominerals.com.au
www.pacificominerals.com.au
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