Borroloola West Project Group Annual Mineral Exploration Report 11 April 2013 to 10 April 2014 GR121-13

Abstract

During 2013, Pacifico primarily focused on reconnaissance mapping of Proterozoic rocks and mineralisation styles of the McArthur Basin in the southern areas of the tenement package, re-interpretation of existing geophysical data from the project area and a stratigraphic AC drilling program planned to extend known Cu mineralisation at the Lorella Prospect (EL 26939) and age determinations of Cretaceous and Tertiary sediments of the Towns Prospects (EL 26837 and EL 26587). A total of seven shallow AC drill holes were completed at the Lorella Prospect targeting anomalous copper in underlying basement rocks. Down-hole assays from five holes at EL 26939 extend copper mineralisation 800m north of known mineralisation indicated by intervals of anomalous copper. The highest copper value at 2870ppm (51-52m) was recorded from 13LAC05 in the northern part of the tenement, with the highest manganese value recorded at 1.28 percent from 13LAC05 at 45m. Micropalaeontological age determinations of samples from the Towns Prospect confirmed the sediments present were of Albian age (100-113Ma) and were deposited in a shallow, near-shore marine environment with restricted circulation and low sedimentation rates. The interpreted age and depositional environment are similar to those found at Groote Eylandt and therefore greatly enhance the prospectivity of the tenements to host economic accumulations of manganese. The highest value of 4.26 percent Mn at 49m occurred in AC drill hole 13TAC04 located on EL 26587 adjacent to Aboriginal freehold land covered by Application EL 26599. AC drill holes proposed for Bing Bong Prospect on EL 24401 were held over to allow for a land access agreement with Native Title custodians.