
Pacifico intends to develop Sorby Hills, a large, near-surface, flat-lying, lead-silver-zinc deposit located 50 km northeast of Kununurra in Western Australia.
After completing the acquisition of a 75% interest in the Sorby Hills Project in late 2018, Pacifico carried out a drill program that significantly increased the size and confidence of the global MRE (29.97 Mt of 4.8% Pb equivalent (3.7% Pb, 43 g/t Ag) and 0.6% Zn) and underpinned an updated PFS.
The PFS estimated a CAPEX of A$95.4M to develop the mine, with a 16-month payback and a pre-tax NPV8 of A$243M. Importantly, the PFS only considered resources in the Indicated category (10.85 Mt with a grade of 5.1% Pb equivalent (3.9% Pb, 46 g/t Ag) and 0.4% Zn).
An updated MRE was completed in October 2019, the Global Resource now includes 36Mt of 4.7% Pb equivalent (3.7% Pb, 39 g/t Ag) and 0.5% Zn with 16.6Mt of Indicated Resources at 4.8% Pb equivalent (3.8% Pb, 39 g/t Ag) and 0.4% Zn. These results will underpin the Optimised PFS expected to be completed in Q1 2020.
Key Milestones - Sorby Hills Project
05 Oct 2018
Sorby Hills Project Acquisition
05 Oct 2018
24 Oct 2018
Phase I 5,500m Drilling Campaign Commences
3 Dec 2018
Phase I Drilling Completed
3 Dec 2018
23 Mar 2019
Mineral Resource Estimate Upgrade
26 Mar 2019
Updated Pre-Feasibility Study
26 Mar 2019
27 May 2019
Phase II Drilling Campaign Commences
24 Jul 2019
Phase II Drilling Completed
24 Jul 2019
28 October 2019
Phase III Drilling Commences
31 October 2019
Updated Mineral Resource Estimate
31 October 2019
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Investor Presentation
