Pacifica Resources Expands Selwyn Project, Yukon
09:02 EDT Tuesday, June 20, 2006
globeinvestor.com
Pacifica Resources Expands Selwyn Project, Yukon
Vancouver, British Columbia CANADA, June 20, 2006 /FSC/ - Pacifica Resources Ltd. (PAX - TSX Venture), is pleased to announce that it has expanded its land holdings for the Selwyn Project in the Yukon. The Selwyn Project includes the giant Howard's Pass zinc-lead deposits. Recently completed staking by field crews has acquired 258 new mineral claims in the Yukon. These new claims cover favorable strata with potential for hosting sedimentary exhalative (SEDEX) mineralization similar to the Howard's Pass zinc-lead.
The new claims cover the northwest extension of property over a distance of 16 kilometers and a small area to the east of the Anniv deposit. The new mineral claims, when combined with Pacifica's previous 678 Yukon mineral claims, 24 NWT mineral claims, 420 Yukon mineral claims and 2 leases acquired from the Howard's Pass Joint Venture (see Press Release May 2, 2005), gives Pacifica 100% ownership over 304 square kilometers in the Selwyn Basin. The claims cover the 66 kilometers of the known strike length of the favorable strata. An updated property map can be found on the Pacifica website at pacifica-resources.com.
The new staking was initiated from a thorough review of all historical reports that noted the Abbey showing where previous operators had defined approximately 15 to 16 kilometres of prospective stratigraphy for lead-zinc mineralization similar to Howard's Pass. Previous soil geochemical surveys on the property identified numerous lead-zinc anomalies. Four drill holes were completed on the property in 1980 to test for the Active Member that hosts all of the known zinc-lead mineralization in the Howard's Pass District. Three drill holes appear to have been collared the stratigraphic footwall ('beneath') of the Active Member, and one was drilled exclusively in hanging-wall ('above') strata. It therefore appears that the favourable Active Member encompassed by the new staking has never been properly tested for zinc-lead mineralization and therefore the source of the zinc-lead soil geochemical anomalies have not been adequately explained. Pacifica is currently planning confirmatory soil geochemical surveys, geological mapping and prospecting around the Abbey showing to identify favorable areas for possible drilling later in the summer as part of continuing regional assessment of the zinc-lead potential of the Selwyn property.
The Selwyn Project is comprised of several large lead-zinc deposits with defined resources in the XY, Anniv, and Brodel zones, as well as known mineralization within the partially defined OP and Don zones. To date, drilling has defined Indicated mineral resources for of 33.5 million tonnes grading 5.52% zinc and 2.10% lead that contain 4.08 billion pounds of zinc and 1.55 billion pounds of lead. The Inferred mineral resources are 112.9 million tonnes grading 5.40% zinc and 2.14% lead that contains 13.44 billion pounds of zinc and 5.31 billion pounds of lead and are immediately adjacent the Indicated resources (see February 9, 2006 news release).
Mr. Jason Dunning (PGeo), the Qualified Person pursuant to National Instrument 43-101, has reviewed and approved the contents of this press release.
Pacifica is a junior resource company focused on exploration for base metals in the Americas. Pacifica is currently undertaking a $10 million exploration, environmental and engineering program on the Selwyn Project, advancing the major zinc and lead deposits in the Howard's Pass District straddling the Yukon and Northwest Territories border.
This press release may contain forward-looking statements based on assumptions and judgements of management regarding future events or results that may prove to be inaccurate as a result of exploration and other risk factors beyond its control and actual results may differ materially from the expected results.
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OF THIS NEWS RELEASE.
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For more information contact:
Dr. Harlan Meade, President and CEO
Jasmin TamDoo, Manager of Investor Communications
Telephone: (604) 682-5474
Toll-free: 1-877-682-5474
International Toll-free: 800-8682-5474
Facsimile: (604) 682-5404
info@pacifica-resources.com
www.pacifica-resources.com
#701 - 475 Howe Street
Vancouver, British Columbia
Canada V6C 2B3 |
