Australian explorer, Pacifico Minerals Limited (ASX: PMY) seems to be advancing well on its Sorby Hills Project, with key catalysts paving the way for Optimised PFS and Ore Reserve expected to be completed in July 2020. The project seems to be strongly positioned with necessary approvals in place, strategic partnership, location and infrastructure along with the substantial Mineral Resource upgrade.
Sorby Hills hosts Global Resource of 44.1 Mt @ 4.5% Pb equivalent1 (3.3% Pb, 38g/t Ag) and 0.5% Zn from 20 metres below surface and open along strike and down dip.
Pacifico’s drilling has resulted in the Omega and Norton deposits with a combined strike length of 4 km, backed by increased confidence in ore body geometry, grade, and continuity.
Pacifico expects to produce high-quality concentrate through open-pit mining, high recoveries and simple processing.
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Find out the drivers for the rise in cannabis stock rates Even though the cannabis sector is in its growing phase, Australian cannabis stocks have already started to rise actively due to a hastily increasing patient base, and a legislative landscape that is gradually beginning to liberalise.
Outreach and future of cannabis stocks As countries liberalise regulation for medical and recreational use of cannabis, it is predicted that the industry would grow sharply in upcoming years The global cannabis market stands currently at around $8 billion and it is expected that the hemp derived CBD market to hit approximately $22 billion by 2022.
Key Players in the sector Althea Group Holdings Limited (ASX: AGH) and Cann Group Limited (ASX: CAN) are amongst the top players. Other Australia cannabis market players are- MGC Pharmaceuticals Ltd (ASX: MXC), Elixinol Global Limited (ASX: EXL), THC Global Group Limited (ASX: THC), AusCann Group Holdings Limited (ASX: AC8)
