Thread, The news is out from PFG on the Leticia.
Tuesday December 16, 5:09 pm Eastern Time
Company Press Release
Pacific Rim Mining Announces Drill Results from Leticia
VANCOUVER, British Columbia--(BUSINESS WIRE)--Dec. 16, 1997-- Pacific Rim Mining Corp. (VSE:PFG - news; TSE:PFG - news) has received results from the remaining nine of twenty one reverse circulation drill holes (3217 meters) on the Leticia Project, Guerrero, Mexico.
Pacific Rim Mining Corp. can earn a 51 percent interest in Leticia by producing a positive bankable feasibility study for the joint venture with Miranda Industries (MAD:VSE).
Drill holes LT 97-16 and 18 were drilled in the vicinity of LT97-1, 2 and 9, where most of the old workings are located. These old operations focused on high grade stringers which occur in a series of faults trending northwest, northeast and east-west. The 1.5 meters averaging 31.54 g/t gold in drill hole LT97-16 and 3.1 meters averaging 29.79 g/t gold in LT97-1 indicate that Leticia has the potential to produce high grade ounces in an underground mine. The drilling has not precluded the possibility of a larger tonnage, near- surface deposit as these high grade intercepts are hosted within broader mineralized zones of 19.8 meters of 3.32 g/t gold and 30.5 meters of 1.45 g/t gold, respectively.
Mineralization encountered in drill hole LT97-14 occurs at the contact between the limestone and the intrusive in a thin skarn body. The remainder of the drill holes intercepted no significant mineralization. The drill results will be compiled and further analyzed before planning the next work program. This process is underway, and should be completed early in 1998.
Pacific Rim Mining Corp. is a TSE listed exploration company focused on precious metals in Latin America. The most advanced asset in the Company's portfolio is Diablillos, a 91 million ounce silver deposit located in northwestern Argentina. Pacific Rim has a cash balance of $Cdn 9.7 million and is aggressively pursuing high quality exploration and acquisition opportunities in Latin America.
Leticia 1997 RVC Drill Summary
Pacific Rim Mining Corp.
Dec. 16, 1997
Hole No. Interval (m) Intercept (m) Au g/t
LT97-12 NSI
LT97-13 NSI
LT97-14 36.6-41.1 4.5 2.83
LT97-15 NSI
LT97-16 114.3-134.1 19.8 3.32
includes 114.3-115.8 1.5 31.54
LT97-17 NSI
LT97-18 73.1-103.6 30.5 1.45
111.2-131.1 19.9 0.61
LT97-19 NSI
LT97-20 NSI
LT97-21 NSI
LT97-22 NSI
LT97-23 NSI
NSI = No significant intercepts
On behalf of the board of directors, Thomas C. Shrake, CEO
NOTE: Location maps available from the Company at the phone number listed below. Maps available at pacrim-mining.com
Threadsters, I don't read this as good. I am open to opinions. Bob |
