Pacifico Minerals Ltd Company Profile
ASX:PMY

A near surface lead-silver development to support a clean energy future

Pacifico Minerals (ASX:PMY) is developing a significant lead-silver project at Sorby Hills in partnership with China's largest lead smelting enterprise and silver producer.

  • Company
    Pacifico Minerals Ltd
  • Website
  • Sector
    Metals & Mining
  • Industry
    Diversified Metals & Mining
  • Code
    ASX:PMY

Company Overview

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Pacifico Minerals (ASX:PMY) is a resource exploration and development company based in Western Australia. The company's flagship project is the Sorby Hills Joint Venture Project in which it has a 75% stake. Sorby Hills is located 50km from the regional centre of Kununurra. There are existing sealed roads to transport concentrate from site to the facilities at Wyndham Port, a distance of 150km, and established infrastructure allows for fast track production. Henan Yuguang Gold Lead Co. Ltd is the other joint venture partner with a 25% interest in the project. Henan Yuguang is China's largest lead smelting enterprise and the largest silver producer in China. The company's focus is to bring the Sorby Hill Joint Venture Project into production.

The company also has a variety of other non-core assets. This includes the Borroloola West JV project (51% interest in partnership with Sandfire Resources (ASX:SFR) at 49%), Mount Jukes in Tasmania (12% interest) and Colombian Projects prospective for economic Copper-Gold deposits.

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Developing a near-surface lead-silver project in WA for a clean energy future

Pacifico Minerals (ASX:PMY) is focusing on the development of its Sorby Hill Joint Venture Project, a large near-surface lead-silver-zinc deposit. Sorby Hill is situated in a politically stable jurisdiction with access to local infrastructure and is partnered with Henan Yugang Gold Lead Co, China's largest lead smelting and silver producer.
Right Location

The Sorby Hills JV Project is situated in a politically stable jurisdiction with access to existing infrastructure. The deposit is close to surface which allows for simple conventional mining.

Clean Energy

Lead batteries are a key element in the transition to a low carbon economy. Electric vehicles use a separate lead battery to run their battery management and safety systems.

Strategic Partner

Henan Yugang Gold Lead Co, China's largest lead smelting enterprise and silver producer, hold a 25% stake in the Sorby Hills JV. This partnership is expected to help with off-take and financing.

Latest Presentation

Click here to read the company's latest presentation

A-Grade Jurisdiction

The Sorby Hills Project is situated only 50km north-east from Kununurra, a regional centre in WA. It is made up of 42km2 of mining licenses and 217km2 of exploration licenses. Existing infrastructure, which includes a sealed road to Wyndham port, means that fast tracked production at a lower CAPEX is possible.

Research Report

Click here to read research coverage on the company

Simple geology & metallurgy

Sorby Hills has a JORC Global Resource of 44.1 Mt at 4.5% Pb equivalent (including silver credits). The deposit is near-surface and it remains open along strike and down dip. The resource now stands at 20.8mt Measured (7.1mt) & Indicated (13.7mt) at 4.9% Pb equivalent and 1% Pb cut off. In addition, in August 2020 as part of the company's PFS a total JORC Ore Reserve of 13.6Mt at 3.6% Pb and 40g/t Ag was also announced.

Mineral Resource Update

Click here to see the recent MRE update

Approvals & Strategic Land Holding

The Sorby Hills Project consists of pre-native title tenements that have been granted mining and environmental approvals for open pit mining and the associated infrastructure. Furthermore, Pacifico have expanded its strategic land holding through the acquisition of "Eight Mile Creek", which is 100% PMY owned covering 217 km² and adds 30km of strike length adjacent to the Sorby Hills deposit.

Strategic Land Holding

Click here to read about additional tenement acquisition

Pre-Feasibility Study

In August 2020 the company released its Sorby Hills PFS and reported a A$303M NPV8, 46% IRR and ~1.6 year payback period. Significantly, the economic assumptions underpinning the PFS are based on conservative 10 year average lead and silver prices. Expansion potential on this base-case also remains via the inclusion of a Dense Media Separator ("DMS") and through the exploration of near-mine targets which could potentially expand the resource. Pacifico are now able to begin DFS and other related activities. Click the link below for more information.

Sorby Hills PFS

Click here to read the Sorby Hills PFS

Why lead?

The base case for mined lead shows a deficit from 2023 without new mine supply. Fueling demand is the transition to a low carbon economy. Electric vehicles use a separate lead battery to run their battery management and safety systems. In addition, 50% of all new vehicles will have stop-start technology by the end of 2020 and will contain 25% more lead. Automative batteries account for 86% of refined lead.

Strategic Partner

Pacifico Minerals is partnered with Henan Yuguang Gold Lead Co (HYG) which owns a 25% stake in the Sorby Hills JV. HYG is China's largest lead smelting and silver producer. Its plants are largely modern, focussed on development of industrial technology and are environmentally friendly. Discussions with HYG for the best financing options for Sorby Hills are ongoing.

Directors & Management

Senior management have a strong track record of creating value in junior mining companies, and includes the successful commissioning and operating of base metal mines.
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Gary Comb
Executive Chairman
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Simon Noon
Managing Director
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Richard Monti
Non-Executive Director
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Andrew Parker
Non-Executive Director

Pacifico Minerals (ASX:PMY) Gallery

Clock icon Information current at 25 August 2020

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