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

To: DeplorableIrredeemableRedneck who wrote (10956)	12/18/1998 2:38:00 PM
From: Alex Harrington	Respond to of 14627

Here's a Friday release about La Colorada potential: FOR FURTHER INFORMATION PLEASE CONTACT: Pacific Rim Mining Corp. Thomas C. Shrake CEO 1-888-775-7097 or (604) 689-1976 (604) 689-1978 (FAX) Website: www.pacrim-mining.com Email: pacrim@direct.ca The TSE has neither reviewed nor accepts responsibility for the adequacy or accuracy of this release. NEWS RELEASE TRANSMITTED BY CANADIAN CORPORATE NEWS FOR: PACIFIC RIM MINING CORP. SEC FILE: 029704 VSE SYMBOL: PFG DECEMBER 18, 1998 Pacific Rim Mining: La Colorada Drill Program Indicates Significant Potential VANCOUVER, BRITISH COLUMBIA--Pacific Rim Mining Corp. is pleased to announce that it has received and interpreted assay results of samples collected from its recent drill program on the La Colorada project in northwestern Argentina. The La Colorada project hosts a polymetallic volcanogenic massive sulphide (VMS) occurrence that was tested by the Company with a five-hole diamond drill program totalling 1,086 meters. Geological mapping conducted by Pacific Rim earlier in the year indicated the presence of two to three massive sulphide horizons on surface, which geophysical surveys suggested persist at depth. The horizons are interpreted to be folded into a syncline-anticline pair exposed at surface over a total strike length of 1,200 meters. Pacific Rim's drill program tested the western-most limb of this fold system. Massive sulphide mineralization was encountered in all five drill holes. The drilling has defined a large, tabular-shaped horizon comprising stacked massive and semi-massive sulphide horizons with interconnecting sulphide stockwork averaging 40 meters in true thickness. This body was defined over a strike length of 425 meters and a width of 385 meters, and was tested to a vertical depth of 225 meters. Where tested, this sulphide body dips from 30 to 65 degrees to the southeast and ranges in true thickness from 12 to 52 meters. Significantly, the sulphide body appears to become thicker downdip. Sulphide mineralization at La Colorada consists primarily of pyrrhotite with varying amounts of chalcopyrite, sphalerite, galena, arsenopyrite and covellite. Both base and precious metals occur throughout the sulphide body, although the system appears to be zoned. Silver, lead and zinc show a strong correlation, and copper is ubiquitous throughout the system. Gold appears to halo zinc-rich intervals, although it occurs in anomalous concentrations throughout the system. Significant intersections include: /T/ HOLE FROM TO INTERVAL GOLD SILVER COPPER LEAD ZINC NO. (m) (g/t) (percent) C1 132.25 138.9 6.65 0.04 12.9 0.30 0.73 3.72 C2 173.6 184.4 10.8 0.07 10.1 0.14 1.95 4.13 221.1 228.7 7.65 0.12 11.9 0.51 1.45 1.72 C3 50 56 6 0.16 6.3 0.31 0.52 1.30 132.6 136.6 4 0.23 5.4 0.54 0.21 1.07 C4 No significant intercepts C5 31.4 33.9 2.5 0.12 4.7 2.11 0.02 0.60 /T/ Pacific Rim is very pleased with the results of this program, which demonstrate the presence of a large, regular massive sulphide system. The sulphide horizon remains open in both directions along strike and to depth, and Pacific Rim believes there is excellent potential to build significant tonnage at the La Colorada occurrence. In addition, holes C1 and C2 intercepted substantially better base metal values than were previously known to occur on the property. The Company believes that its drill program tested the La Colorada VMS system close to its central vent, and that along-strike and downdip sections of the system hold significant potential for increased grades. The Company has been seeking potential joint venture relationships for further development of the La Colorada project. Positive interest has been received from several arms length mining companies and Pacific Rim intends to continue to pursue a potential joint venture possibility. Assaying of split drill core samples from the La Colorada project was completed by Bondar Clegg in Vancouver using fire assay for gold and 30-element ICP analysis for all other elements. On behalf of the board of directors, Thomas C. Shrake, CEO This news release contains forward-looking statements regarding property ownership and potential joint ventures. Actual results may differ materially from those currently anticipated in such statements.