Pacrim Energy - Growth through discovery

Redcliffe Gold Project

Redcliffe’s 100% owned Redcliffe Project is located near the mining town of Leonora , 230km north of Kalgoorlie in Western Australia.

The Project covers approximately 45 kilometres of strike length of the Mertondale Shear Zone (MSZ) along with parallel and associated structures. An estimated 400,000 ounces of gold has been produced along the MSZ from historic mines and pits that operated in the 1980s and 1990s. These include the shallow Nambi and Redcliffe pits that produced in excess of 90,000 ounces within Pacrim’s tenements.

Exploration by the Company since 2006 has led to the delineation of an estimated 175,000 ounces of gold (consisting of an Indicated Resource of 1,007,000 tonnes @ 2.72g/t and an Inferred Resource of 1,565,500 tonnes @ 1.73g/t), with an upgrade expected in early 2011.

Redcliffe Regional Geology

  • Located near Leonora, 230km north of Kalgoorlie; the heart of Western Australia’s goldfields
  • The region has numerous active mining operations with existing infrastructure
  • Leonora district – prolific multi-million ounce gold deposits.
  • Situated in an important regional structural setting; the Mertondale Shear Zone.

Redcliffe Project Deposits and Prospects

  • Redcliffe’s tenements include 65 to 70km strike length of the Mertondale Shear Zone and associated structures.
  • Drilling at Nambi Pit shows strong continuity of gold lodes
  • Redcliffe Pit / West Lode RC Drilling outlines further gold mineralisation
  • The Company has discovered high grade gold at Golden Terrace South (GTS)

Nambi Nickel

Redcliffe Gold Project

Within the eastern portion of the Redcliffe Project, a 20 km strike sequence of cumulate ultramafic rocks occurs, generally beneath a thin veneer of soil cover. Elevated Ni assay data in a RAB drill traverse led the Company to drill three RC holes over an area within the central portion of the Redcliffe Project in 2008.

Anomalous nickel was recorded over broad intervals within olivine cumulate rocks in all holes. Subsequent petrological work identified primary disseminated nickel-sulphide in the ultramafics from samples at depth. This, combined with the presence of sulphidic shales, sediments and felsic volcanics within the geological sequence, show broad comparisons to other areas in the Eastern Goldfields where komatiite nickel sulphide mineralisation occurs.

727 Project

Redcliffe Gold Project

  • Gold mineralised corridor east of MSZ.
  • High grade zones near surface, plunging shoots open at depth.

(From 2010 Pacrim Energy Annual Report) Follow-up Aircore drilling of the 727AC prospect was carried out by way of infill, aiming to confirm the geometry of previously intersected gold mineralisation that included 5m @ 3.9 g/t. 4m @ 7.8 g/t and 6m @ 2.1 g/t gold. A total of 9 inclined Aircore holes for 878m were drilled. Similar alteration zones were observed in the infill drilling, characterised by manganese-stained quartz veining with associated pyrite, however, only anomalous gold was seen in assay results from 5m composite sampling. Single metre samples were subsequently collected with a best assay of 1m @ 1.4 g/t from 63m being returned from GTAC 236.

Kelly Prospect

Redcliffe Gold Project

The Kelly Prospect lies along the Mertondale Shear Zone some 3-4km north of Golden Terrace South, and is considered by the Company to be highly prospective for further shallow oxide discoveries. It is interpreted that Kelly is associated with the eastern bounding shear zone (Mertondale Fault) which differs to Golden Terrace South which is associated with the Great Western Fault, the western bounding shear zone.

Mineralisation at Kelly is open in all directions and results to date are considered by the Company’s geologists to be highly encouraging. As a demonstration of the diversity in styles of gold mineralisation in Pacrim’s project area, gold mineralisation differs from Golden Terrace South as it is hosted in a highly sheared felsic volcanic dominated sequence of rocks associated with the Mertondale Fault yet with minimal black shales.

Golden Terrace South

Redcliffe Gold Project

The resource at the Golden Terrace South deposit is estimated to contain 68,000 ounces of gold (Indicated Resource of 735,000 tonnes @ 2.50g/t and an Inferred Resource of 189,500 tonnes @ 1.68g/t for a total of 925,000 tonnes @ 2.3g/t gold).