Pacific Rum (PMU.TO) 32.3 g/t gold over 4 metersEl 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."