springhill
Make the drill work for YOU
- Joined
- 20 June 2007
- Posts
- 2,555
- Reactions
- 11
PMY - Pacifico Minerals Ltd
PMY looks one to keep an eye on in the very short term.
An acquisition looks to be a near formality and the buy v sell is 8m v 700k. The 6m shares traded today are the highest point of a recent spike in volumes traded.
Latest announcement detailed here;
Pacifico to Proceed with Acquisition of Berrio Gold Project
Pacifico Minerals Limited is pleased to confirm the successful completion of legal due diligence on the high grade Berrio gold project. The Company has now made an initial payment of USD$50,000 to the vendor, and signed a formal contract for the acquisition.
The Company will now proceed to effect the transfer of the titles to “Golden Pacifico SAS”, a newly incorporated Special Purpose Vehicle with Pacifico’s project interest to be held in trust on behalf of the Company.
Following on from the initial channel sampling program announced on 17 December 2013 that produced results including 10m @ 64.7 g/t Au and 10m @ 18.5 g/t Au, a second round of channel sampling has been completed. A total of 877 new samples have been taken, including 406 2m contiguous channel samples along crosscut walls, and 471 samples of tunnel roof material at 2m intervals along the general NS strike direction of the main mineralisation trend.
Pacifico expects to release results from phase two sampling in the coming weeks when all assay results are received and analysed.
The Managing Director of the Company, Mr Simon Noon, commented on the completion of due diligence:
“The completion of due diligence and the Board’s decision to proceed with the acquisition of the Berrio gold project is a milestone for Pacifico shareholders. The Company is demonstrating its capability to deliver on its strategy of expanding its portfolio of projects in Colombia.
The mineralisation encountered to date at Berrio is high grade and at shallow depths, and provides a high priority target for the Company to drill later this year. The Board is hopeful that the Berrio gold project will become a cornerstone project for the Company.”
All signs are pointing to a northward direction in regards to the short term share price.
PMY looks one to keep an eye on in the very short term.
An acquisition looks to be a near formality and the buy v sell is 8m v 700k. The 6m shares traded today are the highest point of a recent spike in volumes traded.
Latest announcement detailed here;
Pacifico to Proceed with Acquisition of Berrio Gold Project
Pacifico Minerals Limited is pleased to confirm the successful completion of legal due diligence on the high grade Berrio gold project. The Company has now made an initial payment of USD$50,000 to the vendor, and signed a formal contract for the acquisition.
The Company will now proceed to effect the transfer of the titles to “Golden Pacifico SAS”, a newly incorporated Special Purpose Vehicle with Pacifico’s project interest to be held in trust on behalf of the Company.
Following on from the initial channel sampling program announced on 17 December 2013 that produced results including 10m @ 64.7 g/t Au and 10m @ 18.5 g/t Au, a second round of channel sampling has been completed. A total of 877 new samples have been taken, including 406 2m contiguous channel samples along crosscut walls, and 471 samples of tunnel roof material at 2m intervals along the general NS strike direction of the main mineralisation trend.
Pacifico expects to release results from phase two sampling in the coming weeks when all assay results are received and analysed.
The Managing Director of the Company, Mr Simon Noon, commented on the completion of due diligence:
“The completion of due diligence and the Board’s decision to proceed with the acquisition of the Berrio gold project is a milestone for Pacifico shareholders. The Company is demonstrating its capability to deliver on its strategy of expanding its portfolio of projects in Colombia.
The mineralisation encountered to date at Berrio is high grade and at shallow depths, and provides a high priority target for the Company to drill later this year. The Board is hopeful that the Berrio gold project will become a cornerstone project for the Company.”
All signs are pointing to a northward direction in regards to the short term share price.
