Pacifico Minerals to acquire Berrio gold deposit in Colombia

THE DRILL SERGEANT: Pacifico Minerals (ASX: PMY) has signed a binding Heads of Agreement to acquire an interest in the Berrio gold deposit in Antioquia, Colombia.

The Berrio project is situated in the southern part of the Segovia Gold Belt, which the company described to be characterised by a number of operational, artisanal-scale adits, tunnels, and inclines.

“We are extremely pleased with the acquisition and of course we are extremely excited by the results of the underground channel sampling program,” Pacifico Minerals managing director Simon Noon said in the company’s announcement to the Australian Securities Exchange.

“This sampling program has confirmed the very high-grade nature of the main vein mineralisation as suggested by anecdotal evidence from the existing artisanal operations as well as confirmation of good grades in parallel mineralised zones.

 

Highlights of tunnel sampling program. Source: Company announcement

 

“One channel sample identified a significant high grade of 64 grams per tonne gold over a 10 metre channel sample in the El Bus mine which is centrally located on the tenements.

“Our sampling program has also confirmed a lower grade gold envelope in a mineralised stockwork which surrounds the high grade core.

“Additionally, we are very excited to note that the Segovia Batholith granodiorite country rock also produced important gold results.”

Pacifico explained it has already completed a first-pass technical program including the collection of underground channel samples from existing artisanal mine workings, which it claims has confirmed mineralisation consists of structurally controlled, steeply-dipping, auriferous veins comprised of quartz-pyrite.

The program has also indicated the presence of several areas of gold mineralisation over considerable widths.

The company said gold mineralisation has been confirmed in several geological environments on the property.

This has occurred in multiple vein sets containing high-grade gold mineralisation with numerous wide (10m) channel sample intersections returning over 10g/t gold with the maximum of 64g/t gold over a 10m sample width.

“Clearly, with the identification of multiple, mineralized veins on the property, there is a considerable amount of additional exploration required to fully understand the economic significance of gold mineralisation at Berrio,” Noon said.

 

 

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