Part of Borroloola West Project EL 30157 Final Surrender and Annual Report 9 June 2009 to 15 June 2020

Abstract

This Final Surrender and Annual report for the period 9 June 2009 to 15 June 2020 covers the mineral exploration completed by Sandfire Resources Ltd ('Sandfire') and Pacifico Minerals Ltd ('Pacifico') on the reduced part of EL30157, which is now to be entirely relinquished, of the Borroloola West Project Group (GR121-13). The Borroloola West Project, is under a farm-in agreement between Sandfire and Pacifico (formerly West Rock Resources Ltd). Pacifico has now earned a 51% interest in the project with Sandfire (49%) 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. During the annual reporting period 9 June 2019 to 8 June 2020 Pacifico carried out no field evaluations, sampling or documented research. During the life of the exploration licence, 9 June 2009 to 15 June 2020, in the area covered by this report, geological mapping and 23 RC holes were drilled at the North Costello Project. The drill holes were targeting previously defined airborne EM anomalies that were found to be caused by relatively conductive black shales containing no significant geochemistry.