- Pacifico Minerals has raised $4.6 million from investors to fund ongoing developments at its lead-silver-zinc project, Sorby Hills
- Funding will cover the second and third phase drilling programs
- Pacifico holds a 75 per cent interest in Sorby Hills and China’s largest lead smelter and silver producer holds the remaining 25 per cent
- Pacifico’s share price remains flat today, currently sitting at $0.010 apiece
Pacifico Minerals has raised over $4 million from investors to fund ongoing developments at its lead-silver-zinc project, Sorby Hills.
The company advised the $4.6 million investment will be used to continue drilling operations, including phase two and phase three – which is set to be complete in the next two months.
Pacifico holds a 75 per cent interest in Sorby Hills, with the additional 25 per cent held by China’s largest lead smelting and silver producing company, Henan Yuguang Gold and Lead Co.
A mineral resource estimate for the project places the global resource at 29.98 million tonnes of 4.7 per cent lead equivalent.
The project, which has an eight year lifespan, is located roughly 50 kilometres from Kununurra, Western Australia.
Sorby Hills has received plenty of investment this year, with an additional $4 million raised for the project in April.
Pacifico’s share price remains flat today, currently sitting at $0.010 apiece, as of AEST 2:47 pm.