Limestone Creek EL 31354 Annual Mineral Exploration Report 14 May 2018 to 13 May 2019

Abstract

This first annual report for the period 14 May 2018 to 13 May 2019 covers the mineral exploration completed by Pacifico Minerals Ltd ('Pacifico') on EL 31354. EL 31354 (121.7 km2) was granted on 14 May 2018. The Limestone Creek prospect (Figure 1-1) lies in an area of McArthur Group sediments overlying older Tawallah Group rocks and overlain by the younger Roper Group sequence. In the prospect area the McArthur Group is mapped as consisting of Mallapunyah Formation overlain by the Amelia Dolomite. Pacifico has carried out prospect scale geological mapping, and portable X-Ray fluorescence instrument ('pXRF') geochemical reconnaissance and rock chip sampling. Reconnaissance geology with pXRF readings has identified 600m of gossan, several meters wide, of breccia with a gossanous matrix consistently high in Pb (up to 0.61% Pb), Zn (up to 0.44% Zn), and Cu (up to 0.13% Cu). It appears to be hosted by stratabound in cherts and/or black shales. These values are confirmed by laboratory analyses (presented on Figure 5-2). Drilling targets have been developed to test this gossanous zone. The objective of the diamond drilling program proposed for the Limestone Creek prospect area is to test for SHMS zinc-lead mineralization within poorly outcropping McArthur Group sediments. Diamond drilling will also provide stratigraphic and structural information to assist future drill hole targeting. Three diamond drill holes, of 250m depth each are proposed (total 750m). Despite its high prospectivity there has been no previous intensive exploration carried out and there has been no previous drilling within the licence area.