Last quarter was an eventful period for junior explorer Pacifico Minerals Limited (ASX: PMY). Over the quarter, the company made substantial progress in the development of its 75% owned Sorby Hills project - a large near-surface and flat lying lead-silver-zinc deposit in Western Australia.
Updated Mineral Resource Estimate – 20% increase in Global Resource
One of the important highlights of the December Quarter was the completion of Mineral Resource Estimate during the period. Completed by CSA Global Pty, the Mineral Resource Estimate increased the Global Resource by 20% to 36 Mt at 4.7% Pb equivalent and 0.5% Zn; and increased the total Indicated Resources by 53% to 16.6 Mt at 4.8% Pb equivalent and 0.4% Zn through the conversion of Inferred Resources.
Pacifico also noted 165% increase in the B deposit and 63% increase in Indicated Resources in the Omega deposit.
Classification of the MRE was carried out considering the geological understanding of the deposit, quality of the sampling, density data, and drill-hole spacing. The updated MRE has the potential to support an increased mining rate for use in the Optimised Pre-Feasibility Study due to the increase in Indicated Resources.
There is no investor left unperturbed with the ongoing trade conflicts between US-China and the devastating bushfire in Australia.
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