Part of Borroloola West Project EL 28658 Partial Surrender Report reporting period 27 October 2011 to 27 October 2019

Abstract

This partial relinquishment report for the period 27 October 2011 to 27 October 2019 covers the mineral exploration completed by Pacifico Minerals Ltd ('Pacifico') on EL 28658, formerly of the Borroloola West Project Group (GR121-13). The Borroloola West Project is under an agreement between Sandfire and Pacifico (formerly West Rock Resources Ltd). Pacifico has earned a 51% interest in the project with Sandfire (49% interest) and in April 2016 an unincorporated joint venture was formed, with Pacifico continuing as operator. The project area lies within the Batten Trough of the Middle Proterozoic sediments and minor volcanics of the Tawallah, McArthur and Roper Groups of the McArthur Basin, with Cretaceous and Tertiary cover sediments. EL 28658 was granted on 27 October 2011 and covered an area of approximately 304 km2. A partial surrender of the southern portion of the EL was made on 2 November 2018 of approximately 153 km2. A further 138 km2 was surrendered on 27 October 2019, which is the subject of this report. During the reporting period 27 October 2011 to 27 October 2019, and within the surrendered area, Pacifico carried out regional exploration and then concentrated on and drilled the Four Mile Prospect. Programs consisted of: 2013 - Reconnaissance mapping and rock chip sampling; 2014 - VTEM survey; 2016 - Geological mapping and rock chip sampling; 2017 - RC drilling (5 drill holes for 820m). No work was carried out on the licence subsequent to the group (GR121-13) annual report dated 10 April 2019.