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Pacrim Energy has expanded its gold portfolio to include the Redcliffe Gold Project located in WA and the Fosterville Regional Joint Venture in Victoria. The projects contain major geological structures with the potential to host large gold resources with further exploration. Pacrim Energy is also earning an 80% interest in an Exploration Licence on Manus Island in Papua New Guinea, which has potential for hosting a substantial gold resource.
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Redcliffe Gold Project
LOCATION: LEONORA, WESTERN AUSTRALIA
(PACRIM 100%)
The project comprises a large tenement holding east and northeast of Leonora in Western Australia. The tenements cover approximately 65km strike length of the Mertondale Shear Zone (MSZ) and associated structures situated 40-85km northeast of Leonora and the Sunday-Picnic prospects 20km east of Leonora.
The project holdings were expanded considerably during 2006 by applications, acquisition, and granting of several
tenements. Pacrim now has a 100% interest in a total tenement area of 885 km2.
Past production from the structure is 400,000 ounces of gold from historic operations and several pits mined during the
1980’s and early 1990’s. The Mertondale Shear Zone and associated structures constitute an extensive mineralised target
from which only a few high grade pods have been exploited. These include the shallow Nambi and Redcliffe pits that
produced in excess of 90,000 ounces from within the Pacrim Energy project area.
Pacrim has initiated definion of gold resources amenable to open pit mining and also recognizes the potential for extensive
high grades systems to continue at depth. Sampled sulphide lode material from the Nambi area assayed 12g/t gold.
In addition to seeking near surface gold deposits;-
Pacrim Energy’s exploration philosophy for the region is based on the presence of sulphide associated gold mineralisation
at depth. In support of this, sampling of sulphide lode from the Nambi open pit in August 2006 has assayed 11g/t and RC
drilling at Golden Terrace North has intersected sulphidic black shale that assayed 32.5g/t gold.
Drilling at the Sunday Picnic prospect adds further weight to this, returning high grade gold mineralisation (up to 49.5g/t gold)
from sulphide associated mineralisation hosted by a quartz filled structure. Scout drilling of a low level soil geochemical
anomaly at Golden Terrace Central also intersected sulphide mineralisation that is to be targeted along strike.
These results provide further encouragement for the mineralisation of the region following on from recent releases by
Navigator Resources who hold tenements adjoining Pacrim Energy Ltd’s ground on the Mertondale Shear Zone.
Major Exploration Programme
A major exploration programme began in 2007, consisting of over 30,000 metres of RC drilling, AirCore and RAB drilling.
The Company is confident of rapidly building a significant resource inventory from this work.
Golden Terrace North
Several relatively shallow structurally controlled mineralised zones have been intersected by RC drilling, mostly in oxidised
rock. Results have included; 12m @ 4.29g/t, 3m @ 18.82g/t, and 7m @ 7.70g/t gold.
A list of significant assays is shown on the following table;
Golden Terrace North: Significant Assays
| Hole ID |
East(GDA) |
North(GDA) |
Azimuth/Dip |
From |
To |
Interval |
and |
g/t Au |
| GTRC001 |
357470 |
6840760 |
90/-60 |
39 |
51 |
|
12m |
@ 4.29 |
| |
|
|
|
39 |
40 |
incl. |
1m |
@ 23.25 |
| GTRC002 |
357465 |
6840780 |
90/-60 |
34 |
37 |
|
3m |
@ 18.82 |
| |
|
|
|
35 |
36 |
incl. |
1m |
@ 52.80 |
| GTRC004 |
357520 |
6840760 |
270/-60 |
23 |
32 |
|
9m |
@ 2.55 |
| |
|
|
|
30 |
31 |
incl. |
1m |
@ 12.65 |
| |
|
|
|
41 |
50 |
|
9m |
@ 2.44 |
| |
|
|
|
46 |
47 |
incl. |
1m |
@ 9.39 |
| GTRC006 |
357505 |
6840780 |
270/-60 |
31 |
32 |
|
1m |
@ 9.58 |
| |
|
|
|
51 |
53 |
|
2m |
@ 1.69 |
| GTRC007 |
357495 |
6840780 |
270/-60 |
33 |
34 |
|
1m |
@ 2.73 |
| |
|
|
|
51 |
53 |
|
2m |
@ 1.69 |
| GTRC008 |
357485 |
6840780 |
270/-60 |
24 |
27 |
|
3m |
@ 4.21 |
| GTRC010 |
357482 |
6840840 |
90/-60 |
2 |
4 |
|
2m |
@ 2.88 |
| |
|
|
|
7 |
10 |
|
3m |
@ 13.16 |
| |
|
|
|
31 |
33 |
|
2m |
@ 3.50 |
| GTRC011 |
357470 |
6840840 |
90/-60 |
8 |
12 |
|
4m |
@ 6.71 |
| |
|
|
|
9 |
10 |
incl. |
1m |
@ 11.30 |
| GTRC012 |
357460 |
6840840 |
90/-60 |
16 |
17 |
|
1m |
@ 6.23 |
| GTRC013 |
357450 |
6840840 |
90/-60 |
26 |
30 |
|
4m |
@ 9.64 |
| |
|
|
|
27 |
28 |
incl. |
1m |
@ 28.00 |
| |
|
|
|
38 |
44 |
|
6m |
@ 2.35 |
| |
|
|
|
41 |
42 |
incl. |
1m |
@ 11.30 |
| |
|
|
|
46 |
49 |
|
3m |
@ 1.53 |
| GTRC014 |
357510 |
6840800 |
270/-60 |
13 |
24 |
|
11m |
@ 2.07 |
| GTRC015 |
357480 |
6840820 |
270/-60 |
25 |
27 |
|
2m |
@ 2.45 |
| GTRC017 |
357490 |
6840800 |
270/-60 |
21 |
24 |
|
3m |
@ 2.14 |
| |
|
|
|
29 |
31 |
|
2m |
@ 9.19 |
| |
|
|
|
38 |
45 |
|
7m |
@ 7.70 |
| |
|
|
|
38 |
39 |
incl. |
1m |
@ 40.20 |
| |
|
|
|
50 |
53 |
|
3m |
@ 1.27 |
| GTRC018 |
357500 |
6840800 |
270/-60 |
19 |
28 |
|
9m |
@ 4.69 |
| |
|
|
|
21 |
22 |
incl. |
1m |
@ 16.70 |
| |
|
|
|
79 |
80 |
|
1m |
@ 32.50 |
Selected Significant Results for 1m samples (> 0.5ppm, with maximum internal dilution of 1m) All samples Fire Assayed
Of particular note is an assay result of 32.5g/t gold in graphitic black shale and pyrite from below the base of oxidation, at a
depth of 79 to 80 metres down hole in GTRC 18. This is the deepest, high grade assay from Pacrim Energy’s drilling on this
prospect to date and gives an indication that potential for high grade gold mineralisation exists at depth.
Resource definition is being undertaken in conjunction with assessment of all Redcliffe Gold Project exploration results.
E37/727
Soil sampling has been ongoing on this tenement that covers an area containing what are interpreted to be additional shear
zones along the eastern side of the Mertondale Shear Zone, just 1km east of Navigator’s Tonto prospect. A total of 1050
samples were collected in 2006, with 191 samples returning anomalous gold results (10ppb gold or higher) including results
of 144ppb and 84ppb gold. Several gold anomalies have been defined, including an area (10ppb gold or higher) extending
over 1800 by 500 metres.
Nambi Prospects
Rock chip sampling in the vicinity of the Nambi open pits has returned many promising results including 11g/t from silicified
lode material from the main Nambi pit and results of up to 30.5g/t and 15.4g/t gold from the walls of the Nambi South pit.
Previous drill data from open pits in the Nambi area has been plotted with sections showing good continuity of the
mineralised structure over the 370 metre strike length mined in the main Nambi pit.
Plotting of previous data from mined areas has included 9m @ 6.27g/t, 12m @ 5.09g/t, and 9m @ 7.77g/t gold from
RC drilling. Preliminary plots of the open pit extent show the mineralised zone extending below the pit floor through an
intersection of 8m @ 7.13g/t gold.
These results, along with detailed rock chip sampling including results of 30.5g/t and 15.4g/t gold from material in the walls of the
Nambi South pit, demonstrate continuations of mineralisation extend beyond the current pits. Surveying to verify the limits of the
open pits has been completed.
An RC drilling programme has been undertaken to test the silicified/sulphidic lodes and Nambi structures to a vertical depth of
around 120 metres. The drilling has consistantly intersected the strong structure and has returned results up to 10m@8.47g/t gold.
Gully and Gully South Prospects
Additional targets include following up limited previous RC drilling that intercepted 4m @ 6.73g/t gold at Gully and 11m @ 2.57g/t
gold from RAB intercepts at Gully South.
Sunday - Picnic Gold Prospects
Newly recognised structure at the Sunday Picnic prospect returns 10m @ 5.73g/t from composite samples and then 2m @ 35.35g/t
from RC drilling.
Pacrim Energy’s RAB drilling programs defined the Picnic shear zone over more than one kilometre of strike length. The zone is
commonly associated with anomalous arsenic geochemistry ranging up to 4019ppm and has returned values of up to 7.03g/t gold.
Reverse circulation drilling intersected a strongly deformed and altered shear zone with up to 30 metre widths of anomalous arsenic
with values up to 1217ppm As and up to 2.0g/t gold.
Drilling intersected a sub-parallel quartz filled structure that returned 10m @ 5.73g/t from 5 metre composite samples between 85
metres and 95 metres down hole. Single metre splits from 89 metres to 91 metres within the zone returned 2m @ 35.35g/t from
consecutive one metre assays of 49.5g/t and 21.2g/t gold.
RC Dril Hole Details - Sunday Picnic (GDA94 Zone51)
| Hole ID |
Area |
East |
North |
Azim |
Dip |
From |
To |
Interval |
| PNRC002 |
Picnic |
354278 |
6806189 |
235 |
-60 |
85m |
95m |
10m @ 5.73g/t gold |
| |
|
|
|
|
inc |
89m |
91m |
2m @ 35.5g/t gold |
| PNRC005 |
Picnic |
354358 |
6805995 |
235 |
-60 |
52m |
55m |
3m @ 1.09g/t gold |
| PNRC007 |
Picnic |
354509 |
6805778 |
235 |
-60 |
21m |
22m |
1m @ 2.00g/t gold |
A further 518 soil samples were collected from the Sunday-Picnic tenements during 2006. Results of up to 1600ppb gold (1.6g/t)
were returned from a linear zone, parallel and to the west of the Picnic shear. The anomaly consists of greater than 10ppb gold and
occurs over a strike length of approximately 400 metres.
The ongoing exploration will consist of targeting the Picnic Shear in areas where structural disruption has occurred, enhancing
potential for gold deposition. Additional geochemical and geophysical targets will be progressed, and the newly discovered high
grade gold zone will be explored by additional RC drilling to test its continuity.
Numerous additional targets from previous work and from Pacrim Energy interpretations also exist and are being prioritised for
further exploration.
Download Redcliffe-Release-03.07
Download Nambi-Pit
Angelo Gold Project
LOCATION: EAST KIMBERLEY, WESTERN AUSTRALIA
(PACRIM 100% - farming out to 30%)
This project comprises an Exploration Licence application located 30km south of Halls Creek in the East Kimberley region of
Western Australia. Several substantial gold in soil anomalies have been outlined. First-pass RAB drilling intersects of 4m @ 3.42g/t
and 4m @ 2.54g/t gold were returned at one of the anomalies from lines 400 metres apart.
Exploration Licence 80/2707 was granted in early 2006. It covers an area of approximately 75 square kilometres located 30
kilometres south west of Halls Creek and approximately 10 kilometres southeast of the Nicolson’s Find gold mine and treatment
plant.
The tenement area is underlain by turbiditic sediments of the Lower Proterozoic Olympio Formation. Structure within the area
is dominated by northeasterly trending lineaments, generally sub-parallel to foliation and stratigraphic trends. No previous gold
workings have been recorded in the area.
Extensive gold in soil anomalism has been confirmed by Pacrim Energy’s 2006 field work consisting of soil sampling (up to
132ppb gold) and ground magnetometer surveying.
Zones of gold (and arsenic) in soil anomalism have been outlined by previous explorers where their work has included stream
sediment sampling, soil sampling, rock chip sampling, magnetic interpretation, and limited RAB drilling.
A large regional soil anomaly of over six kilometres long and up to one kilometre wide has been defined with gold values greater
than or equal to 10ppb and returning assays of up to 1920ppb (1.92g/t gold).
Only first pass RAB drilling was carried out on two traverses, 400 metres apart, over the northern portion of the anomaly (Leonardo)
in the early 1990s. The drilling yielded many intersections indicating the presence of gold mineralisation, including best results of
4m @ 3.42g/t and 4m @ 2.54g/t gold, with individual assays of up to 6.68g/t gold.
The mineralisation is open in all directions and provides an excellent target for additional drilling and has the potential to delineate
substantial zones of gold mineralization.
A further zone of co-incident gold and arsenic anomalism (Figaro) was outlined to the south, in excess of one kilometre long and
up to 500 metres wide. Arsenic levels are generally over 50ppm and gold values are generally greater than 10 ppb gold, peaking
at 265ppb.
The area warrants a major exploration program consisting of establishing improved access and a combination of RAB and RC
drilling.
A Joint Venture agreement has been entered into with Metminco Ltd where they can earn up to 70% in Angelo by expending
$2million over a five year period.
Download Angelo-Release-09-06
Grants Creek Gold Project
Pacrim Energy is farming out to 30% interest in 8 contiguous prospecting licences, covering an area of 1476 hectares located approximately
60km north northeast of Halls Creek.
The Grants Creek Goldfield was discovered around 1887 and is therefore one of the earliest goldfields in WA.
Only limited gold production is recorded from the field, mainly due to the historic amalgamation process being ineffective in
recovering the sulphide associated gold. (Limited subsequent metallurgical testing has indicated cyanidation to be far more
effective with recoveries in the range of 80 to 90%).
Previous exploration has included soil sampling over a portion of Pacrim Energy’s current holding, and limited drilling, mostly
aimed at the known gold occurrences referred to in historic text. This work has delineated resources of around 60,000 tonnes @
5g/t gold.
Pacrim Energy’s field work has consisted of ground magnetometer surveying, rock chip sampling, geological mapping and soil
sampling. The main target horizon has been outlined by mapping, anomalous arsenic and anomalous gold (>10ppbAu) over 3
kilometres strike and approximately 250 metres width.
The zone includes the Perseverance mineralization near the western end and several outcrops of gossanous blue quartz outcrops
such as Moody’s prospect from which rock chips have yielded 84g/t, 44.6g/t, and 25.7g/t gold. Drill testing of these attractive
targets is planned and permitted.
A Joint Venture agreement has been entered into with Metminco Ltd where they can earn up to 70% in Angelo by expending
$800,000 on exploration.
Download GrantsCk-geochem-ground-mag
Fosterville Regional Joint Venture
LOCATION: FOSTERVILLE, VICTORIA
(PACRIM 100% - GOLD FIELDS EARNINGS 75%)
The project comprises four Exploration Licences covering over 1500 square kilometres, in the region of the Fosterville mining
centre in Central Victoria.
Gold Fields Australasia Pty Ltd (a subsidiary of Gold Fields Ltd of South Africa) is carrying out exploration over the project area
and can earn a 75% interest by spending A$2.5million over 4 years to October 2007.
Interpretation of geophysical data indicates several major structures within the project area could be similar to structures hosting
the nearby gold resource of over 2 million ounces held by ASX listed Perseverance Corporation Limited, where gold occurs in
association with sulphides. Perseverance is conducting an open pit/underground mining operation producing a nominal 110,000
ounces of gold per annum.
Gold Fields Australasia Pty Ltd has continued geochemical AirCore drilling on the Fosterville Regional Project, focusing mainly on
the area immediately to the east, and adjacent, to their Lockington discovery where grades of up to 19g/t gold have been returned
from diamond drilling, suggesting the presence of a very strong mineralising system.
AirCore drilling on the Pacrim Energy owned tenements has identified substantial zones of gold anomalism and elevated arsenic/
antimony values. The zones, including, Main Trend, McPhees Trend, and Lees Trend extend for a combined strike length in
excess of 8 kilometres.
Drilling operations continue to provide valuable data for the planning of diamond drill holes to test for possible bedrock
mineralisation at depth. Pacrim Energy considers the results are highly encouraging as they may represent important mineralised
zones of a similar style to the Fosterville Gold Mine.
As part of a major global gold mining company, the operators of the Fosterville Regional JV consider the objective style of
mineralization has the potential to offer a “Gold Field’s style target.”
Diamond drilling is planned for August 2007 and Gold Fields have confirmed that authority for exploration (AFE) has been
approved to enable them to complete their 75% earn by spending the full $2.5million.
Download Fosterville-Release-27.10
Blue Dam Project
LOCATION: KALGOORLIE, WESTERN AUSTRALIA
(PACRIM 100%)
The prospect comprises four prospecting licence applications located 20km southwest of Kalgoorlie, WA between the
Kunnunulling and Mungari Shear Zones, similar to the nearby Frogs Legs and White Foil gold deposits to the north.
Soil sampling, air core drilling and limited RC drilling have been undertaken in the past. Low order gold anomalism has been
located. Ground magnetometer surveying is planned to generate further drill targets to be advanced upon granting of the
tenements.
Manus Island Project
LOCATION: MANUS ISLAND, PAPUA NEW GUINEA
(TRIPLE PLATE JUNCTION- EARNING 65% GOLDEN SUCCESS LTD 15% - PACRIM 20%)
The Manus Island copper/gold project consists of a granted exploration licence, EL 1326, that covers approximately 270 square
kilometres on Manus Island.
Manus Island shares common geological history with the New Guinea Islands region, Bougainville, New Ireland and New Britain
Islands. These islands host widespread copper and gold mineralisation, notably two world-class open pit mines: Panguna
(copper-gold, now closed) on Bougainville Island; and Lihir (with gold reserves of 15 million ounces) on Lihir Island.
London AIM-listed Triple Plate Junction plc, through its wholly-owned PNG subsidiary, Triple Plate Junction (PNG), has formally
elected to enter into a joint venture to earn a 65% interest in EL 1326 with a total expenditure of A$1.45 million to be completed
over three years.
Interpretation is that there is a mineralised corridor consisting of a copper porphyry-epithermal gold system that may host
porphyry copper at depth and bonanza gold in fractures and veins at intermediate depth. The view that Manus Island has the
potential to host Lihir style gold mineralization has led to application being made by the Joint Venture for a new tenement over an
expanded area surrounding the existing granted tenement, EL1326.
Re-mapping and further sampling of the Kisi prospect has resulted in a re-interpretation of the mineralisation orientation. Trenching
and channel sampling has yielded results of 16m @ 40g/t gold (including 2m @ 303g/t gold).
A drilling programme to test the Kisi zone is planned to begin in late 2007.
Download Manus-12.06
