SICHUAN, People’s Republic of China An independent estimate of PACIFIC MINERALS’ 217 project has established measured and indicated resources of about 35 million tonnes grading 0.848 g/t Au at a cut-off grade of 0.6 g/t Au. The property also contains an inferred resource of 85 million tonnes at 0.928 g/t Au and the same cut-off.
"The estimate allows us to move forward to determine the basic capital and operating parameters for the project," said Daniel Kunz, Pacific’s president. Given the deposit’s proximity to several large industrial centres in northern China, we expect that the cost to develop and operate a large open pit gold mine at the deposit could be among the lowest in the industry."
The 217 gold mineralization is hosted in Proterozoic carbonaceous slates that are highly deformed and intruded by a series of Caledonian and Hercynian granitic plutons. The zone has been traced along strike by drilling and surface trenching for a distance of 4.8 km and widths of from 40 m to 150 m. It remains open along strike and at depth. The oxidized cap of the zone (the upper 40-50 m) is amenable to cyanide leaching.
Pacific has begun in-house scoping studies. Definition drilling, in-fill drilling and metallurgical test work are planned. Earlier metallurgical reports indicated recovery rates of 87.7% from oxidized mineralization and 97.7% from primary sulphides. The 217 project was the site of earlier small-scale artisanal mining.
Visit www.pacific-minerals.com for complete details on the 217 project and Pacific’s other projects in China.