NEWS

Mineral Resource Estimate Upgrade at Sorby Hills

Pacifico Minerals Limited (ASX:PMY) provided an update on the Sorby Hills Mineral Resource Estimate following the initial Phase 1 drill campaign at its 75% owned Sorby Hills Lead-Silver Zinc Project, located 50 kilometres northeast of Kununurra in WA.

An updated Mineral Resource Estimate has been completed resulting in an 82% increase in the Global Resource of 29.97Mt of 4.7% lead (Pb) equivalent.

Within the Global Resource there was a 123% increase in tonnage of Indicated Resources to 10.85Mt, with a grade of 5.0% Pb equivalent.

The previous Mineral Resource Estimate was completed previously by resource specialists, CSA Global and is based on the analyses received from the Initial 34 holes of the Phase 1 drilling program carried out in 2018.

The update Resource Estimate and deeper geological understanding confirms high potential to expand the Sorby Hills Resource base.

It is based on the analyses received from the initial 34 holes of the Phase 1 drilling program carried out in late 2018, initial results from a new mining study completed by an independent international mining Engineering specialist which supports a change in cut-off grade from the previous MRE, and an improved appreciation of the geological stratigraphy and structure.

Results from a further 18 drill holes are yet to be received and, combined with the Phase 2 drilling program planned to commence in April 2019 (weather permitting), should further upgrade the MRE.

PMY’s Managing Director Mr. Simon Noon said: “We are very pleased to be able to announce an 82% increase in the tonnage of the Mineral Resource Estimate for our 75% owned Sorby Hills Lead-Silver-Zinc Project.

“Importantly, this includes a 123% increase in tonnage of Indicated Resources following infill drilling in late 2018. This greatly increases confidence levels and will underpin the 2012 Pre-Feasibility Study review and update which is due for completion in March 2019. As data continues to come in from final drill holes completed in late 2018 and with phase 2 drilling planned to commence in April, these resource figures are expected to rise further in 2019.

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SOURCE: PACIFICO MINERALS
DATE: MARCH 7TH, 2019

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