2017 Geophysics and Drilling Collaborations Completion Report, EL 26938 - Mariner

Abstract

The objective of the diamond drilling program proposed in the Mariner prospect area was to test for SHMS zinc-lead mineralization within the McArthur Group, where it is covered unconformably by Roper Group sediments. Very strong lead (+ zinc, tellurium, antimony) geochemistry had been obtained during Pacifico's 2016 RC drilling at the base of the Roper Group and top of the McArthur Group sediments in the area proposed for drilling. It was considered that diamond drilling further downdip, would allow us to test for SHMS mineralization in the underlying McArthur Group sediments, and provide stratigraphic and structural information to assist future drill hole targeting. Despite its high prospectivity there has been no previous intensive exploration carried out in the area. The two diamond holes were drilled, 1.5km apart, MND05 and MND06. The program was successful in that a previously unknown thick package containing pyritic black carbonaceous shales was intersected at Mariner. The close association with observed lead and zinc mineralisation confirms potential for sediment hosted zinc-lead mineralisation. It is reasonable stratigraphically that the pyritic black shales intersected by MND06 are part of the Barney Creek package, and that the thick underlying dolomite is Mara Dolomite. The shales are anomalous in copper (100's of ppm Cu) indicating that the newly discovered sub-basin may contain significant base metal mineralisation.