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Gold/Mining/Energy : Pacific Rim Mining V.PFG -- Ignore unavailable to you. Want to Upgrade?

To: Quickdraw who wrote (12644)	2/16/2000 11:02:00 AM
From: Quickdraw	Read Replies (2) \| Respond to of 14627

This just in. www2.cdn-news.com FEBRUARY 16, 2000 Pacific Rim Mining Announces Additional Luicho Sampling Boosts Target Confidence VANCOUVER, BRITISH COLUMBIA--Pacific Rim Mining Corp. is pleased to report the results of a further 985 rock chip channel samples collected from its Luicho project in southern Peru. The Company has now collected a total of 4,756 two-meter continuous chip channel samples from the Luicho project, which have defined a large, strong gold anomaly. The average grade of all 4,756 samples collected to date is 1.56 g/t gold. Most of these samples were collected from the 'structural corridor'; a 1.85 kilometer by 250 meter wide zone in which a series of north-south and northeast-trending strike slip faults have intensely brecciated the host rock. The structural corridor has been separated into the Northeast, Central and South Zones, based on the intensity of brecciation and the degree of mineralization. The cumulative results of Pacific Rim's sampling to date in each zone are summarized in the table below. /T/ Zone # of samples average grade % of samples average grade of in total of total samples exceeding samples exceeding 0.31 g/t 0.31 g/t gold cutoff gold cutoff Northeast 859 1.27 g/t gold 71% 1.73 g/t gold Central 1614 3.15 g/t gold 71% 4.39 g/t gold South 580 1.08 g/t gold 52% 1.94 g/t gold Total for structural corridor 3053 2.23 g/t gold 67% 3.24 g/t gold /T/ Sampling in the Central Zone continues to delineate robust grades. The results from five new sample strings include: 11 meters averaging 2.83 g/t Au; 17 meters averaging 12.01 g/t Au; 7 meters averaging 7.44 g/t Au; 40 meters averaging 6.67 g/t Au; and, 30 meters averaging 18.30 g/t Au. A wedge-shaped area of high grade mineralization, measuring 400 meters long (north-south) by 150 meters wide at the southern end and 50 meters wide at the northern end, is being delineated within the Central Zone. A total of 487 rock chip channel samples averaging 6.02 g/t Au have been collected from within this high grade area. Recent sampling in the Northeast Zone concentrated along the eastern edge of the zone, which remains open for expansion. These new samples were collected 75 to 100 meters into the stratigraphic section below the shale unit and provide additional evidence of the continuity and vertical potential for mineralization within the Luicho system. The samples cover a strike length of 178 m and average 1.07 g/t Au. Additional samples taken along the Luicho Fault to the north and outside the structural corridor have extended mineralization in this area to nearly 400 meters of total strike length and at least 50 meters of width. This mineralization is located on the east side of the Luicho Fault Zone and averages 1.11 g/t Au over the approximately 400 meter strike length. An independent petrographic report concludes that gold at Luicho occurs: in late stage fracture fillings with quartz and iron oxides; as fine grains; between mineral grains (not encapsulated); and, generally in open spaces. "Our confidence in the viability of Luicho continues to grow. Chief Geologist David Ernst has made great progress in understanding the complex structural geology which will be the key to understanding the system in the third dimension. Our detailed sampling effort continues to define the surface footprint of the mineralization including the new sampling in the high grade area of the Central Zone. The economic importance of outcropping high grade material can not be over-emphasized. The nature of the gold in late fractures suggests that cyanide solutions should be able to access the gold. Finally, we continue to mount evidence that the mineralization has a significant vertical component as we have delineated gold mineralization 150 meters into the stratigraphic section on the west side of the structural corridor and 100 meters on the east side. The potential for mineralization to continue deeper in the 400 plus meter thick sandstone stratigraphy is excellent." states Thomas Shrake, CEO. Pacific Rim has begun construction of a 6.5 kilometer access road into the Luicho property. Upon completion, this road will be used to mobilize drills for an upcoming 12,000 meter Phase I drill program. A Peruvian technical climbing team has been contracted and will begin this month to sample the steep slopes of the Luicho target. Underground sampling from old tunnels is currently underway for the purpose of locating bulk sample sites for additional metallurgical work, including bottle roll tests and small diameter column leach tests. Individual samples collected by Pacific Rim are continuous rock chip samples 2 to 3 meters in length. These samples are most often strung together to produce continuous rock chip channels 10 to 100 plus meters in length. 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. A map outlining the new continuous rock chip samples is available at the Company's website (www.pacrim-mining.com) or by fax from the Company. On behalf of the board of directors, Thomas C. Shrake, CEO This news release contains forward-looking statements regarding upcoming programs and expected geological results. Actual results may differ materially from those currently anticipated in such statements. Qd

To: Quickdraw who wrote (12644)	2/16/2000 9:49:00 PM
From: charred	Read Replies (2) \| Respond to of 14627

It will take a couple of years to complete at least a scoping study, full feasibility will take longer and will cost more than 10 million. The scoping study will require metallurgy, mine planing, infill drilling etc. Also it will include the infrastucture costs etc. The 12,000 meter program is an excellent start to the program but more is required. With all this, no senior will take over PFG until this work is completed.

To: Quickdraw who wrote (12644)	2/17/2000 11:33:00 PM
From: Natedog	Read Replies (1) \| Respond to of 14627

just in case you missed this one. Released about 8 hours after the first release. Pacific Rim Mining Corp - Casey says Pacific Rim a buy on Luicho's promise Pacific Rim Mining Corp PFG Shares issued 21,615,370 2000-02-16 close $4.9 Wednesday Feb 16 2000 Doug Casey, writing in the Jan. 25 issue of his International Speculator, says Catherine McLeod-Seltzer's Pacific Rim Mining is a buy at $3.55. This is Mr. Casey's first report on the Peru explorer; he calls the stock high priced, but he advises subscribers to not let that put them off. The key is potential value, not price. The market's attention is on Pacific Rim's Luicho property, which Mr. Casey says is arguably an extension of the Yanacocha-Pierina trend. "All indications are that Luicho offers multi-million ounce gold potential," Mr. Casey says. Ms. McLeod-Seltzer and her management team discovered the Pierina deposit in Peru. Pacific Rim has 24 million shares outstanding, for a market cap of about $88-million. He says it does not make much sense to do a net present value (NPV) calculation at this stage, but "it's fair to say that unless the drilling that will commence this April is disastrous (and a lot of geologists I know are badly mistaken in reading the rocks) there is some serious upside here, even at present depressed gold prices." (c) Copyright 2000 Canjex Publishing Ltd. canada-stockwatch.com