Next Investors logo grey

Pacifico identifies copper target in the NT

Published 20-NOV-2017 13:35 P.M.


2 minute read

Hey! Looks like you have stumbled on the section of our website where we have archived articles from our old business model.

In 2019 the original founding team returned to run Next Investors, we changed our business model to only write about stocks we carefully research and are invested in for the long term.

The below articles were written under our previous business model. We have kept these articles online here for your reference.

Our new mission is to build a high performing ASX micro cap investment portfolio and share our research, analysis and investment strategy with our readers.

Click Here to View Latest Articles

Pacifico Minerals (ASX:PMY), an ASX-listed junior metals explorer, has announced an initial exploration target for oxide copper mineralisation at its Lorella Project in the Northern Territory.

The Lorella Project is located within the McArthur Basin and is thought to contain a high potential for significant additional tonnages of oxide copper mineralisation. A small section of Pacifico’s project area has already been drilled by industry giant Sandfire Resources (ASX:SFR) and PMY hopes it can utilise any relevant information collated historically.

The Lorella Project consists of 12 exploration licences and 1 mining licence, covering a total area of 1,817 square kilometres. At the current time, PMY is progressing Lorella as part of a joint-venture agreement with Sandfire Resources on a 51 per cent (PMY), 49 per cent (SFR) split.

lorella gold pacifico

According to PMY, its latest intersections show copper mineralisation to be present at shallow depths, which PMY will now focus on as a priority:

pacifico intersections drilling

Given its findings at Lorella, PMY has formalised an Exploration Target of 5-10Mt of 0.8% Cu to 1.1% Cu of oxide copper mineralisation. The grades of the target are derived from the grades of mineralised blocks defined by 18 RC and diamond holes in the drilled area of oxide copper mineralisation.

It should be noted here that this is an early stage play and investors should seek professional financial advice if considering this stock for their portfolio.

The full drill hole details are shown below:

pacifico first drill hole results

The oxide copper mineralisation consists of disseminations, veins and fracture fill of malachite and azurite within highly leached siltstone and fine-grained sandstone. Using a 0.4% Cu cut-off, the drill intersections average 1% Cu and have an average vertical thickness of 8m.

Preliminary acid leach testwork recently carried out at SGS Metallurgy in Perth, returned highly positive results and indicated that leaching the oxide copper material could be economically viable. If further oxide copper mineralisation can be defined there is potential for a low capital and operating cost operation at Lorella that includes an open-cut mine able to produce cathode copper from a solvent extraction process.

To substantiate it’s the exploration target, PMY is also commencing a 2,000-metre aircore drill program, planned to commence later this month to test oxide copper mineralisation strike extensions.

The upcoming 40-hole program will also test for significant indications of primary copper mineralisation to a depth of approximately 50 metres.

lorella drill hole

Lorella Prospect plan showing planned aircore drill holes and projected extent of sub-surface copper mineralisation



General Information Only

S3 Consortium Pty Ltd (S3, ‘we’, ‘us’, ‘our’) (CAR No. 433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information and is for informational purposes only. Any advice is general advice only. Any advice contained in this article does not constitute personal advice and S3 has not taken into consideration your personal objectives, financial situation or needs. Please seek your own independent professional advice before making any financial investment decision. Those persons acting upon information contained in this article do so entirely at their own risk.

Conflicts of Interest Notice

S3 and its associated entities may hold investments in companies featured in its articles, including through being paid in the securities of the companies we provide commentary on. We disclose the securities held in relation to a particular company that we provide commentary on. Refer to our Disclosure Policy for information on our self-imposed trading blackouts, hold conditions and de-risking (sell conditions) which seek to mitigate against any potential conflicts of interest.

Publication Notice and Disclaimer

The information contained in this article is current as at the publication date. At the time of publishing, the information contained in this article is based on sources which are available in the public domain that we consider to be reliable, and our own analysis of those sources. The views of the author may not reflect the views of the AFSL holder. Any decision by you to purchase securities in the companies featured in this article should be done so after you have sought your own independent professional advice regarding this information and made your own inquiries as to the validity of any information in this article.

Any forward-looking statements contained in this article are not guarantees or predictions of future performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, and which may cause actual results or performance of companies featured to differ materially from those expressed in the statements contained in this article. S3 cannot and does not give any assurance that the results or performance expressed or implied by any forward-looking statements contained in this article will actually occur and readers are cautioned not to put undue reliance on forward-looking statements.

This article may include references to our past investing performance. Past performance is not a reliable indicator of our future investing performance.