More good newsPacific Rim Mining's High Grade Balsamo Gold Discovery Continues to Grow
Exploration drilling at Pacific Rim Mining Corp.'s ("Pacific Rim" or "the Company") (TSX: PMU)(AMEX: PMU) El Dorado gold project in El Salvador has yielded further bonanza gold grades and expanded the dimensions of the recently discovered Balsamo gold zone, where drill hole P06-522 intersected 32.3 g/t gold over 3.9 meters. A complete list of the most recent drill results is provided below.
The Balsamo discovery has quickly evolved into an exciting and potentially significant new gold zone, owing to its high grade, wide vein widths, growing dimension and proximity to planned infrastructure. With the latest results presented below, the Balsamo zone has now been intersected over a strike length of 250 meters and a vertical range of over 150 meters and remains open along strike and to depth. Four drills are being employed at Balsamo to expand the gold zone as quickly as possible. A fifth drill rig is being mobilized.
Balsamo has the potential to significantly increase the high grade gold resource at El Dorado and enhance the project's economic landscape. The Company has therefore deferred its El Dorado feasibility study in order to realize the economic benefit of the Balsamo deposit. The underground access tunnel will take a year and a half to complete, once permits are in hand, providing the Company ample time to determine the economic impact of the Balsamo deposit in parallel with development.
"The high grade Balsamo discovery is the most exciting thing to happen to the El Dorado project since the discovery of Minita," says Tom Shrake, President and CEO of Pacific Rim. "The Balsamo vein represents a new gold-enriched structure similar to the prolific Minita structure where the bulk of the El Dorado resources and reserves occur, and has the potential, like Minita, to host multiple deposits. The Balsamo deposit will potentially increase production levels at the proposed El Dorado operation without substantially delaying the development of the property. All of the Company's resources are focused on the advancement and inclusion of this exciting discovery."
Latest El Dorado Project Drill Results
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Drill
hole
UTM azi- From To Inter- True
Vein North- muth/ (met- (met- sec- Wid-
or ing/ dip ers ers tion th Sil-
Hole System East- (degr- down down (met- (met- Gold ver
No. Tested ing ees) hole) hole) ers) ers) (g/t) (g/t)
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P06-510 Condem- 300488/ 270/
nation 535148 50 377.55 379.55 2.00 2.00 12.253 119
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P06-511 Moreno 301927/ 073/
534300 50 No Significant Results
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P06-512 Nueva
Esperanza- 302468/ 068/
Los Jobos 534243 50 174.25 175.30 1.05 0.85 13.229 177
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P06-513 Nueva
Esperanza- 302576/ 106/
Los Jobos 534164 65 89.50 91.40 1.90 1.70 9.279 52
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P06-515 Nueva
Esperanza- 302663/ 100/
Los Jobos 534266 56 182.50 182.70 0.20 0.20 11.806 645
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183.45 183.95 0.50 0.30 9.190 156
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P06-516 Moreno 301910/ 105/
534301 52 253.25 258.50 5.25 2.50 8.919 30
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P06-517 Nueva
Esperanza- 302755/ 115/
Los Jobos 534280 65 228.85 229.40 0.55 0.50 24.499 189
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P06-518 Condem- 300184/ 270/
nation 535218 50 No Significant Results
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P06-519 Nueva
Esperanza- 302798/ 75/
Los Jobos 534365 50 132.40 133.75 1.35 1.35 10.477 61
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includes 132.40 132.95 0.55 0.55 20.369 138
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P06-520 Nueva
Esperanza- 302662/ 82/
Los Jobos 534270 50 183.75 184.90 1.15 1.15 7.560 155
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includes 184.60 184.90 0.30 0.30 19.172
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P06-521 Moreno 301908/ 125/
534299 60 No Significant Results
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P06-522 Balsamo 300212/ 250/
534851 48 333.90 337.90 4.00 3.90 32.271 69
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P07-523 Condem- 300463/ 95/
nation 534599 52 No Significant Results
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P07-524 Moreno 302407/ 93/
534626 50 No Significant Results
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P07-525 Los 302758/ 80/
Jobos 534283 55 219.25 219.95 0.70 0.60 8.246
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P07-526 Los 302592/ 90/
Jobos 534243 50 No Significant Results
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P07-527 Moreno 302493/ 93/
534644 50 No Significant Results
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P07-528 Condem- 300175/ 88/
nation 534434 47 No Significant Results
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P07-529 Balsamo 300096/ 262/
534954 50 397.45 401.25 2.45 2.30 8.070
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P07-530 Los 302799/ 90/
Jobos 534365 75 No Significant Results
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P07-531 Moreno 302565/ 90/
534676 50 No Significant Results
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P07-532 Balsamo 300175/ 71/
534434 50 360.15 360.3 7.15 4.00 10.710
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includes 362.85 367.3 4.45 2.20 14.800
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379.30 384.8 5.5 1.75 20.590
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P07-533 Balsamo 300275/ 270/
534828 50 307.35 307.75 0.4 0.20 9.520
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P07-534 Nueva
Esperanza- 302874/ 90/
Los Jobos 534319 50 217.75 218.1 0.35 0.30 7.000
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P07-535 Morano 302407/ 110/
534626 65 No Significant Results
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P07-536 Balsamo 300075/ 259/
534760 62 245.05 245.15 0.1 0.10 8.520
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P07-537 Balsamo 3000275/ 270/
534828 60 336.55 338.95 2.4 1.90 11.450
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P07-538 Moreno 302407/ 82/
534626 60 No Significant Results
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P07-539 Nueva
Esperanza- 302960/ 90/
Los Jobos 534390 50 No Significant Results
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Readers are directed to the Company's website www.pacrim-mining.com and SEDAR filings www.sedar.com for complete drill results from the El Dorado project, details of the El Dorado resource and reserve calculations, and complete National Instrument 43-101 disclosure.
About Pacific Rim Mining Corp.
Pacific Rim is a growth-oriented, revenue-generating, environmentally and socially responsible gold exploration company with operational and exploration assets in North, Central and South America. The Company is expanding and developing its advanced-stage, high grade El Dorado gold project in El Salvador and is actively exploring a pipeline of grassroots gold projects. Pacific Rim's goal is to become a low cost, intermediate level gold producer.
On behalf of the board of directors,
Thomas C. Shrake, President and CEO