Pacifico Minerals’ Quarterly Report Highlights Noteworthy Sorby Hills Project Development, Stock Soars by ~9%

  • Jul 13, 2020 AEST
  • Team Kalkine

Australian explorer, Pacifico Minerals Limited (ASX: PMY) provides activity and cashflow reports for the June 2020 quarter, highlighting significant exploration progress at its 75% owned Sorby Hills Project, including:

  • Updated Mineral Resource Estimate (MRE) for the Project following the integration of drilling and a comprehensive review of geological and analytical database
  • Update on the Optimised Pre-Feasibility Study (PFS), indicating the Project’s exceptional economic and operational parameters. 
  • Acquiring Eight Mile Creek land package, adding 30 kilometres of strike length of prospective exploration ground adjacent to Sorby Hills. 
  • Appointment of BurnVoir for securing development funding for Sorby Hills after keen interest from several parties for prospective offtake and debt financing.

With the consolidated cash balance of $3 million at quarter-end, PMY is progressing with Optimised PFS, anticipating market update in late July 2020. 

Following the key update, PMY zoomed up by ~9% (12:38 PM AEST).


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