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Additional information
Additional Information
Market: ASX
Sector: Oil and Gas Exploration and Production
Epic: ASX:PRE
News: Latest news
Web Site: Pacrim Energy
Other Articles: 21-05-200918-03-2009

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Monday March 15, 10:21Diamondcorp: a big cash injection and a lot of work to do

70% of the new money was raised from current shareholders, reflecting a hefty amount of faith in the management to deliver.

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Monday March 15, 11:38Calvin Klein owner buys Tommy Hilfiger for US$3 billion from Apax Partners

The New York listed shirt and neckwear company is paying €1.924 billion in cash and issuing €276 million in PVH common stock (approximately 8.7 million shares) to fund the transaction.

 

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Monday March 15, 08:01China's growth boosting commodity prices

The latest economic figures from China have put pressure on the dollar and boosted a number of high-yielding currencies, including the Australian dollar and the South African rand.

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Pacrim Energy

Pacrim Energy

Pacrim Energy's primary focus is the Redcliffe Gold Project in Western Australia, though the company holds a number of additional gold exploration projects and also has oil and gas interests in the United States.
Wednesday, March 18, 2009

Strong gold mineralisation for Pacrim Energy at Redcliffe Project near Leonora, WA

Pacrim Energy (ASX:PRE) has advised of preliminary results from RC drilling at the 727 Prospect within the 100% owned Redcliffe Gold Project near Leonora, Western Australia.

Highlights

Initial RC Drilling Programme at 727 Prospect Intersects shallow gold mineralisation with results including:

- 20m @ 3.08g/t gold from surface;
- 5m @ 4.66g/t gold from 15 meters;
- 10m @ 2.78g/t gold from 40 meters.

Drilling at 727 was part of the Company’s ongoing work programme where Pacrim’s focus is on continuing gold exploration and expanding current gold resources within the Redcliffe Project area.

These most recent results further highlight the prospectivity of the Redcliffe Project area and the potential to significantly build upon the existing resource base.

727 Prospect RC Drill Results

Initial RC drilling at the 727 Prospect has confirmed the presence of gold mineralisation where previous RAB drilling returned a shallow intersection of 10m @ 4.92g/t gold from 1 metre down hole in 2008.

The RC drilling returned an intercept of 20m @ 3.08g/t gold from surface. The results are from composite samples each of 5 metres. Single metre splits will be analysed to outline the mineralisation more accurately.

Further results from adjacent holes include, 20m @ 1.45g/t, including 5m @ 4.66g/t, and 30m @ 1.00g/t including 10m @ 2.78g/t gold.

Considerable areas of geochemical soil anomalism remain to be tested together with a line of historic shallow prospecting pits along a mineralised pyritic quartz structure and additional gold mineralisation, as intersected in previous RAB drilling.

RC drilling to date at the 727 Prospect has indicated the presence of substantial intervals of gold mineralisation in an area of gold in soil anomalism lying to the east of the main Mertondale Shear Zone. Much additional drilling is warranted to thoroughly test the 727 Prospect trend and to determine orientation, geometry and strike continuity of gold mineralisation as intersected.

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