The end of Luicho:
Pacific Rim Mining Corp - News Release
Pacific Rim receives final Luicho drill results
Pacific Rim Mining Corp
PFG
Shares issued 21,615,370
2000-10-24 close $0.33
Wednesday Oct 25 2000
News Release
Mr. Tom Shrake reports
Pacific Rim Mining has received the assay results for drill holes 20 through 42 from its
Luicho project in southern Peru.
Holes 20 through 42 were drilled primarily within the Northeast and South zones. The
results indicate that mineralization in the South zone averages 13 metres thick and is
confined to the upper sandstone unit. In the Northeast zone, mineralization is hosted by
the upper sandstone, middle sandstone, dikes and breccias. Gold mineralization
continues to depths as great as 250 metres beneath the surface in the Northeast zone,
but gold grades are generally low.
"While we succeeded in locating the thicker feeder mineralization in the Northeast zone
that we had been anticipating elsewhere on the project, the grade is not sufficient for
Luicho to reach the critical number of ounces required for a potentially viable gold
deposit. As such, the vendors have been informed that the upcoming option payment
will not be made and the Luicho purchase option will be terminated. While we are
greatly disappointed with the outcome at Luicho, the company remains well financed
and management continues to seek new opportunities for building shareholder value,"
states Tom Shrake, chief executive officer.
The Luicho drill program was supervised by Pacific Rim's geologists, David Ernst,
Peter Dilles and Bill Gehlen, and the Luicho program was ultimately supervised by Mr.
Shrake. Samples were assayed by Bondar Clegg, an ISO9002-registered analytical
laboratory, in Vancouver, B.C., after first being prepared at its on-site preparation
facility. A check assay program was conducted with Chemex Labs.
A Luicho drill plan map is available by fax by contacting the company, or at the
company's Website, www.pacrim-mining.com.
WARNING: The company relies upon litigation protection for "forward-looking"
statements.
LUICHO DRILL RESULTS
HOLES 20 THROUGH 42
Inter-
Hole Direction/ From To val Gold
No. Dip (m) (m) (m) (g/t)
20 240/80 0 4 4 0.70
10 24 14 1.68
100 108 8 0.37
21 vertical 20 28 8 0.53
22 vertical 62 76 14 0.56
23 vertical 4 30 26 0.73
24 vertical 42 58 16 1.08
80 90 10 0.49
128 150 22 0.43
25 310/86 32 46 14 0.99
26 vertical no significant results
27 vertical 14 30 16 2.71
28 270/60 58 66 8 0.40
29 vertical 46 58 12 0.89
30 vertical no significant results
31 vertical 14 34 20 0.36
48 62 14 0.63
32 vertical 30 40 10 0.38
33 vertical 22 36 14 0.70
34 105/70 0 28 28 0.77
138 150 12 0.34
35 vertical 78 84 6 0.39
36 105-73 0 20 20 0.59
56 66 10 0.56
80 96 16 0.63
37 vertical 0 10 10 0.44
38 vertical 0 34 34 0.47
114 118 4 0.86
39 90/60 56 70 14 0.38
112 130 18 0.44
152 162 10 0.66
40 90/70 6 16 10 0.33
40 74 34 0.96
118 124 6 0.47
134 148 14 0.65
172 194 22 0.66
200 232 32 0.70
41 90/70 2 68 66 0.95
82 88 6 1.04
42 90/70 0 30 30 2.26
38 52 14 0.39
90 108 18 0.74
240 250 10 0.86
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