Vancouver – A recent drill-hole that returned a 5.2-metre intersection grading 30.6 grams gold and 325 grams silver per tonne has given Pacific Rim Mining (PMU-T, PMU-X) increased confidence about the high-grade nature of the South Minita gold zone at its flagship El Dorado project in El Salvador.
The company says this intersection, combined with a previous hole that returned 2 metres grading 20.4 grams gold, expands the size of the high-grade zone within the South Minita area. The zone is situated about 500 metres south of the Minita deposit, currently being drilled in preparation for an updated resource estimate for the El Dorado project.
Other holes returned high gold values, albeit over narrower widths, such of 1.5 metres of 9.66 grams gold and 117 grams silver, and 1.55 metres of 8.99 grams gold and 62 grams silver.
In light of the encouraging results from South Minita, the company plans more drilling to further delineate the gold zone. This drilling is not expected to delay the updated resource estimate for the overall project expected in the first quarter of this year.
An updated economic assessment of the wholly owned project will follow, based in part on the previously completed (2003) pre-feasibility study that contemplated a production rate of 80,000 oz. gold per year. The company hopes to double this production rate in the updated study, which will incorporate the new resource estimate.
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