Pacifico Minerals Ltd (ASX: PMY)
With a high quality portfolio of projects spanning continents and commodities, one ASX junior capped at just $4.4 million has turned its immediate focus to 1,800km of underexplored ground package where it is about to begin diamond drilling for zinc and copper.
This company is operating in the same vicinity as the largest producing zinc-lead mine in the world — the £44 billion-capped London-listed Glencore’s McArthur River Mine. It is also exploring in the same region that hosts Teck Australia’s world class Teena zinc-lead deposit. Parent company Teck has a market cap of over $13 billion.
Most importantly though, this junior company has a joint venture agreement with the $980 million-capped Sandfire Resources (ASX: SFR) of which it has operational control and 51% ownership in the highly prospective McArthur Basin.
The company has now mobilised the drill rig for a program of 5 drill holes for 1500m at three of the company’s prospects where copper and zinc targets have been established. Drilling will commence this Friday.
With $1.6 million in cash reserves, the imminent diamond drilling programme is fully funded and will be followed by an aircore drilling program planned to commence this field season to test for primary and additional oxide copper mineralisation at the Lorella prospect.
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While the Northern Territory is consuming much of the company’s immediate attention, its Colombian assets add considerable depth and longevity. It has two highly promising early stage gold projects up its sleeve in Colombia, where the company has been operating since 2011.
As you can see there is plenty of newsflow on the horizon and that can only mean one thing: plenty of catalysts to draw investors’ attention.