Pacifica expands high-grade zone at Selwyn project

Vancouver – High-grade assay results from several recent drill holes have confirmed potential to expand the down-plunge extension of underground resources at the Selwyn project held by Pacifica Resources (PAX-V) in eastern Yukon Territory, near the border with the Northwest Territories.

The Selwyn project hosts a series of sedimentary exhalative (SEDEX) deposits within a 40-km-long belt of favorable geology, with the two most advanced being the XY and Anniv deposits. Predecessor companies of Placer Dome and U.S. Steel spent more than $20 million exploring and developing the project from the 1970s to 1982, with work focused on both open-pit and underground targets.

Pacifica is carrying out a $10-million exploration program and has eight drill rigs turning to upgrade and expand resources, including the down-plunge extension of an underground inferred resource of 8.1 million tonnes grading 10.6% zinc and 5.5% lead, based on 61 holes, and pre-dating National Instrument 43-101 disclosure standards. This potential was confirmed by a recent hole that returned 3.4 metres grading 21.74% zinc and 15.75% lead within 14.45 metres of 9.16% zinc and 5.86% lead. A follow-up drill-hole intersected 9.49 metres grading 17.54% zinc and 11.68% lead within 32.35 metres of 12.74% combined lead and zinc.

The high-grade mineralization is beneath the proposed XY open pit and appears to be open down-dip to the northeast. Pacifica notes that the new intersections in this area are typical of historic results from the underground inferred resource at XY. The XY Central zone being evaluated for initial open-pit development hosts a NI 43-101-compliant indicated mineral resource of 20.5 million tonnes grading 5.9% zinc and 2.37% lead, plus an inferred resource of 54.13 million tonnes grading 6.15% zinc and 2.77% lead. Since this estimate, 25 additional holes have tested the zone.

Pacifica also drilled its recently discovered HC zone, with five holes returning encouraging results, and discovered its northwest extension through a 2-km step-out hole. Assay results are pending for drilling in the Anniv Central, Anniv East, OP West and Pelly North zones. More drilling is planned to explore a 5-km gap between the HC and Don Zones for the continuation of the favorable mineralized horizon known as the Active Member, and fault offsets of known zones.

Pacifica has drilled 116 holes totaling 21,611 metres so far this year. The Selwyn project hosts a “potential mineral inventory” estimated at 1.5 billion tonnes, however the only NI 43-101-compliant estimates are for the XY and Anniv deposits, which together host an inferred resource of 115.4 million tonnes grading 5.41% zinc and 2.1% lead, with about 16 grams silver per tonne. The deposits also contain a further “potential resource” of about 367 million tonnes at 5.12% zinc and 1.9% lead.