NEWS RELEASE TRANSMITTED BY CCN - A NEWSWIRE SERVICE OF ITG
FOR: PACIFIC RIM MINING CORP.
SEC FILE: 029704
TSE SYMBOL: PFG
MAY 24, 2000
Pacific Rim Mining: High Grade Cliff Sampling Results
Confirm Continuity of Mineralization
VANCOUVER, BRITISH COLUMBIA--Pacific Rim Mining Corp. is pleased
to announce the receipt of an additional 542 surface, cliff and
underground rock chip channel samples from the Luicho project,
bringing the total number of samples collected to date to 7,077.
The Company is also very pleased to announce the finalization of
an option to purchase the surface rights for the Luicho project.
Sampling Results
The latest round of sampling concentrated on cliff sampling within
the Central Zone. The results clearly confirm the continuity of
gold mineralization both laterally and vertically. Highlights of
the latest vertical sampling results include: 8.33 g/t gold over
28 meters vertically; 5.71 g/t gold over 20 meters; 7.76 g/t gold
over 19 meters; and, 4.25 g/t gold over 19 meters. Additionally,
two underground workings were accessed and sampled. The results
include: 16.66 g/t gold over 34 meters; and, 14.79 g/t gold over
13 meters.
The average grade of all 7,077 samples collected to date from the
Luicho project is 1.59 g/t gold. These samples represent a total
of 229 channels (composed of two or more individual 2 meter long
continuous rock chip channel samples) collected in and around the
Structural Corridor and numerous individual samples. The
Structural Corridor is a 1.85 kilometer long by 250 meter wide
zone of intense fracturing that Pacific Rim believes is the core
of the Luicho target. The cumulative results of the Company's
sampling to date in each of the 3 zones that comprise the
Structural Corridor are summarized in the table below.
/T/
Zone # of samples average grade % of samples average grade
in total of total samples exceeding of samples
0.31 g/t exceeding 0.31
gold cutoff g/t gold cutoff
Northeast 1234 1.33 g/t gold 70% 1.84 g/t gold
Central 2537 3.07 g/t gold 68% 4.43 g/t gold
South 641 1.29 g/t gold 52% 2.34 g/t gold
Total for
structural
corridor 4412 2.32 g/t gold 66% 3.43 g/t gold
/T/
Surface Rights
A purchase option agreement has been signed and registered with
the Pomacocha community, providing Pacific Rim complete and total
land access for the upcoming drilling program and the option to
purchase the lands on or before April 3, 2001 for US $1,237,005.
The agreement covers all lands necessary for infrastructure sites
for a large heap leach operation.
Road and drilling update
The final difficult section of access road will be completed in a
few days and two additional bulldozers are being mobilized to the
site to construct drill platforms and a road network to access the
platforms. A 20,000 meter reverse circulation drill contract has
been signed with AK Drilling. The first of two drills to be used
on this program is scheduled to arrive at the Luicho site on June
21, 2000.
Tom Shrake, CEO, states 'We continue to strive to eliminate all of
the risks that we can, as quickly as possible. The surface
agreement is the culmination of months of negotiations and is a
win-win outcome for the Company and the local community of
Pomacocha. The cliff sampling provides additional confidence on
the continuity of the mineralization both vertically and
laterally. Recent sampling demonstrates that high grade ponding
of gold mineralization occurs well into the sandstone section
beneath numerous shale interbeds that persist throughout the
middle and lower sandstone units. We are currently cutting hand
trenches to provide additional geochemical information in some of
the areas covered by overburden and not otherwise accessible for
sampling. Areas with higher fracture densities inherently weather
and erode more easily than those less fractured areas, and do not
readily outcrop. These same fractures control the gold
mineralization, providing the potential for higher grades beneath
the overburden cover."
Sampling is supervised by Pacific Rim's geologists David Ernst and
Peter Dilles and the Luicho program is ultimately supervised by
Thomas Shrake, CEO of the Company. Samples are assayed by Bondar
Clegg, an ISO9002-registered analytical laboratory in Vancouver,
BC, after first being prepared at their facility in Lima. A check
assay program is on-going with Chemex Labs.
Please visit Pacific Rim's website (www.pacrim-mining.com) for a
map of the latest sampling results, which, alternatively, is
available from the Company by fax.
On behalf of the board of directors,
Thomas C. Shrake, CEO
This news release contains forward-looking statements regarding
upcoming programs and expected results. Actual results may differ
materially from those currently anticipated in such statements.
-30-
FOR FURTHER INFORMATION PLEASE CONTACT:
Pacific Rim Mining Corp.
Thomas C. Shrake
CEO
(604) 689-1976
Toll Free: 1-888-775-7097
Website: www.pacrim-mining.com
The TSE has neither reviewed nor accepts responsibility for the
adequacy or accuracy of this release.
INDUSTRY: PCS
SUBJECT: MEX |
