- Exploration company Pacifico Minerals (PMY) has wrapped up its phase four drilling program at its Sorby Hills Lead-Silver Project
- 58 diamond and rotary-diamond drill holes were completed at the WA-based project, spanning for 4803 metres
- Best results from the program so far include 17 metres at 9.5 per cent lead and 67g/t silver from 15 metres, as well as 16 metres at 6.8 per cent lead and 102 g/t silver from 58 metres
- Significantly, the company also reported intersecting new mineralisation adjacent to the current open pit design
- Further assay results from the program are expected in December and January, at which point an updated mineral resource for Sorby will be calculated
- Additionally, the program was also designed to further a definitive feasibility study (DFS) for the project
- Shares in Pacifico Minerals are currently trading down 5.26 per cent at 1.8 cents
Pacifico Minerals (PMY) has wrapped up its phase four drilling program at its Sorby Hills Lead-Silver Project, located in WA’s Kimberley Region.
The explorer carried out 58 diamond and rotary-diamond drill holes at the project, spanning 4803 metres.
The objective of the phase four program was to advance a definitive feasibility study (DFS) for Sorby, after a positive pre-feasibility study (PFS).
Of the assays received already, best results include 17 metres at 9.5 per cent lead and 67g/t silver from 15 metres, as well as 16 metres at 6.8 per cent lead and 102 g/t silver from 58 metres.
Pacifico also reports that several drill holes encountered new intersections of mineralisation immediately adjacent to the current open pit designs.
It’s significant news for the explorer, as it said it’s “anticipated these intersections will have a favourable impact on the Sorby Hills resource.”
Once all of the assay results from the phase four program are received, an updated mineral resource for Sorby will be calculated.
The project has a current mineral resource of 44.1 million tonnes at 3.3 per cent lead, 38g/t silver and 0.5 per cent zinc, with proved and probable reserves of 13.6 million tonnes at 3.6 per cent lead and 40g/t silver.
“The results and preliminary observations coming out of our recently completed phase four drill program are extremely encouraging,” Managing Director Simon Noon stated.
“Not only have we achieved our primary objective of obtaining metallurgical and
geotechnical samples to advance Sorby Hills towards DFS status but simultaneously identified significant intervals of mineralisation proximal to, though not presently included in either the current Sorby Hills resource or open pit design,” he added.
Results from the remaining assays are expected back by the company in December and January.
Shares in Pacifico Minerals are currently trading down 5.26 per cent at 1.8 cents each at 11:53 am AEDT.