Pacifico Minerals Share Price Goes through Huge Share Growth after Acquiring Exploration Licence

Today Pacifico Minerals Ltd [ASX:PMY] grew in share value by 9.09%.

After being granted an exploration licence, Pacifico are now able to further increase its productivity while acquiring prospects for zinc-lead.

They were able to execute its drilling contract at copper prospect sites which are located in the Northern Territory.

This grants them further access to the McArthur River mine and the Gossan site.

How Pacifico will grow its ventures

The Borroloola project, located in the Northern Territory, is shared between Pacifico and Sandfire Resources.

Previous drilling initiations have allowed Pacifico to further discover that there are vast quantities of oxide and copper at the site.

The project is scaled at 1,800 km displaying great potential for an abundance of resources.

In Mexico, Pacifico holds 100% in the Violin Project which has been described to have outstanding potential for gold and copper deposits within the area.

In recent times, Pacifico are now able to further expand its operations.

After receiving notice from the Northern Territory Department of Primary Industry and Recourses, they are now able to harvest a larger quantity of zinc-lead.

Pacifico reported on its announcements:

RC drill testing of the zinc-lead gossan is planned following additional mapping and reconnaissance geochemistry over the possible northern extension of mineralisation. Pacifico will now apply for the Northern Territory Geophysics and Drilling Collaboration program which would fund 50% of direct drilling costs if successful.

In Australia, Pacifico are focusing on advancing the Borroloola project in the Northern Territory.

They recognise the potential it holds, as it covers a large-scale package of ground around the McArthur River mine.

It is one of the world’s largest zinc production sites, with further potential of more resources to be discovered within the site.

Pacifico are advancing their gold project in Colombia, as it holds a strong number of exploration licences and mineralised belts which harbour plenty of resources.


Ryan Clarkson-Ledward,
For Money Morning

PS: If you’re thinking now is the time to jump back into gold investments…you could be making a huge financial blunder! Download your free report ‘Why You Should Wait to Buy Gold Stocks’, today.

Ryan Clarkson-Ledward is an Editor at Money Morning.

Ryan holds degrees in both communication and international business. He helps bring Money Morning readers the latest market updates, both locally and abroad. Ryan tackles all the issues investors need to know about that the mainstream media neglects.

Ryan is also the Editor of Australian Small-Cap Investigator, a stock tipping newsletter that hunts down promising small-cap stocks by dissecting the latest events affecting the world.

To find out more about the publications Ryan works on and how you can subscribe, please click on the corresponding link here:

Money Morning Australia