Pacifico Minerals Ltd ("Pacifico") is a Western Australian based exploration company, listed on the Australian Stock Exchange (Code: PMY), focussed on advancing the Berrio Gold Project ("Berrio") located in Colombia. Berrio is situated in the southern part of the prolific Segovia Gold Belt and is characterised by a number of operational, artisanal-scale adits, tunnels, and declines. The project is 35km from the Magdalena River which is navigable to the Caribbean Sea and has excellent infrastructure in place including hydro power, sealed roads and telecommunications coverage. Pacifico also has an interest in two other projects in Colombia (Natagaima and Urrao) and one project in the Northern Territory (Borroloola West Project).
Following an initial channel sampling program as part of the pre-acquisition due diligence on the project, Pacifico completed a second phase of channel sampling in February 2014. 665 composite samples were collected as part of the two sampling programs. The best samples identified mineralisation over 106m with 53 contiguous samples averaging 18.9 g/t Au (see ASX announcement dated 25 February 2014). In May 2014, Pacifico commenced its maiden drilling campaign at Berrio testing the geology and mineralisation beneath the high grade gold tunnel samples. An induced polarisation survey was also commissioned to help with the understanding of the orientation and plunge of the mineralised zones on the property.
The recently completed maiden drilling program successfully intersected high grade mineralisation in multiple zones including 16m at 11.2g/t Au and confirmed the correlation between induced polarisation anomalies and mineralisation. In October 2014, Pacifico commenced a higher intensity follow up drill program which is aimed at defining the quantum and controls on high grade mineralisation and extend the dimensions of thicker zones of lower grade mineralisation.