Pacifica Resources Ltd (C-PAX) - News Release
Pacifica drills 24.72 m of 8.64% Zn, 2.26% Pb at XY
2006-10-30 10:31 ET - News Release
Shares issued 89,489,881
PAX Close 2006-10-27 C$ 0.74
Dr. Harlan Meade reports
PACIFICA RESOURCES DRILLING EXTENDS LIMITS OF HIGH-GRADE MINERALIZATION AT XY
Pacifica Resources Ltd. has provided drill hole results in the XY zone including both the open-pit area and drilling both along strike and down plunge of the previously defined underground inferred resource (see news in Stockwatch on Aug. 31 and the Sept. 26, 2006, news release). Results of drilling of other zones will be released shortly.
The Selwyn project hosts the world-class Howard's Pass sedex zinc-lead deposits. Drilling continues with six drill rigs on known mineralized zones on the 96 square kilometres of Howard's Pass joint venture (HPJV) claims under purchase agreement and new target evaluation on the more than 209 square kilometres of wholly owned mineral claims (Pacifica claims). Location of the new zones and detailed drill plan maps are available at the company's website.
Highlights
Definition drilling continues to expand along strike the underground inferred mineral resource with XY-141 intersecting 24.72 metres true thickness grading 8.64 per cent zinc and 2.26 per cent lead that includes 2.85 metres grading 26.56 per cent zinc and 4.91 per cent lead.
Infill drilling continues to show potential for higher zinc and lead grades within the open-pit target with XY-142 intersecting 14.25 metres true thickness grading 10.03 per cent zinc and 2.75 per cent lead that includes 1.49 metres grading 44.90 per cent zinc and 10.42 per cent lead or 55.32 per cent combined zinc-lead.
One hundred seventy-seven drill holes have been completed for a total of 39,092.1 metres.
Extension of XY underground resource
Drill hole XY-141 intersected a true thickness of 24.72 metres of well-mineralized active member demonstrating the continuation of the high-grade zinc-lead mineralization intersected in drill holes XY-111, XY-112, XY-124 and XY-133, and the potential expansion of the high-grade underground inferred resource. Drilling continues down dip and along strike of the new high-grade drill hole intercepts (see Sept. 26 news release and news in Stockwatch on Oct. 10, 2006). All the high-grade intercepts are above the elevation of the floor of Don Valley and are therefore easily accessible with horizontal drifting for development.
Pb True
Thick- + thick-
Drill From To ness Pb Zn Zn ness
hole m m m % % % m
XYC-141 394.30 428.10 33.80 2.26 8.64 10.90 24.72
394.50 402.30 7.80 3.01 13.15 16.16 5.70
414.50 423.80 9.30 2.94 15.17 18.11 6.80
419.90 423.80 3.90 4.91 26.56 31.47 2.85
Drill hole XY-141 is located 310 metres northwest of XY-124 and 230 metres northwest of XY-133 and 550 metres northwest of XY-116 that previously intersected high-grade mineralization down-dip of the inferred resource beneath the proposed open pit (see news in Stockwatch on Aug. 31 and Oct. 10, 2006, and the Sept. 26 news release). An inferred resource of 8.1 million tonnes (8.9 million short tons) grading 10.6 per cent zinc and 5.5 per cent lead was reviewed and reported in a June, 2005, National Instrument 43-101-compliant report prepared by Al Burgoyne and filed on SEDAR (note that this resource estimate predates NI 43-101 and should not be relied upon). Drilling is continuing with four drills testing the down dip and lateral extension of the area of high-grade mineralization in XY Central zone.
XY Central zone -- open pit
Recent drill results from the XY Central zone include intervals of high-grade zinc-lead mineralization similar to that encountered in the underground inferred mineral resource in the northwest part of the XY zone. Of interest is drill hole XY-142 that intersected 14.25 metres true thickness of mineralized zinc-lead active member. This drill hole is located at a shallow depth and outside of the historical resource area used in the March, 2006, resource report. Additional definition drilling is continuing in this area to expand resources, as the deposit remains open along strike to the northwest and down-dip.
Pb True
Thick- + thick-
Drill From To ness Pb Zn Zn ness
hole m m m % % % m
XYC-140 86.70 106.50 19.80 1.27 4.28 5.55 19.72
Incl. 97.00 106.50 9.50 1.68 5.56 7.24 9.46
Incl. 97.00 101.60 4.60 1.84 7.67 9.51 4.58
XYC-142 68.00 82.30 14.30 2.75 10.03 12.78 14.25
Incl. 70.80 76.20 5.40 4.91 20.21 25.12 5.38
Incl. 70.80 73.55 2.75 8.39 33.76 42.25 2.74
Incl. 70.80 72.30 1.50 10.42 44.90 55.32 1.49
Drilling is continuing in the Anniv and XY areas. Follow-up of the DON-4 drill hole discovery in 2005 is under way with two drills. With the onset of winter conditions, the Anniv camp is being shut down and two of the drills are shut down and being stored for the winter. Anniv camp facilities are also being transferred to the new camp and air strip under construction in Don Valley.
The Selwyn project exploration program is being reviewed by vice-president of exploration, Jason Dunning, MSc, PGeo. The on-site activities for the Selwyn project are directed by exploration manager, John J. O'Donnell, PGeo. Both Mr. Dunning and Mr. O'Donnell are qualified persons within the meaning of National Instrument 43-101. All assay data have been through internal validation of quality assurance and quality control. Pacifica has established a sampling and assay control program with blind insertion of assay blanks, standards and duplicates for the Selwyn project; however, it should be noted that there is also a quality control and quality assurance program in place at both ACME Analytical Laboratories Ltd. and ALS Chemex that includes blanks, duplicates and standards. At ACME, silver and base metal analyses are conducted by a 17-element, four-acid digestion, ore-grade ICP-AES technique. At ALS Chemex, silver and base metal analyses are conducted by a 25-element, four-acid digestion, ICP-AES technique with overlimit protocols for zinc, lead, copper, antimony, arsenic and barium conducted by an ore-grade aqua-regia digestion with an instrument finish (ALS-Chemex).
Note that all discussion of NI 43-101 compliant indicated and inferred mineral resources are referenced in the March, 2006, NI 43-101 report for Howard's Pass. In reviewing historical resources, all discussion of indicated mineral resources that predate introduction of NI 43-101 should be considered as inferred mineral resources. All historical inferred mineral resources that predate NI 43-101 should be considered as areas of mineral potential requiring further definition through drilling. Historical mineral resources are referenced in the June, 2005, NI 43-101 report for Howard's Pass. Copies of the reports can be viewed at SEDAR.
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