Pacific Rim Mining Corp.: South Minita Delineation Drilling Yields Additional High Grade Gold; Updated Resource Calculation Initiated.VANCOUVER, British Columbia British Columbia, province (2001 pop. 3,907,738), 366,255 sq mi (948,600 sq km), including 6,976 sq mi (18,068 sq km) of water surface, W Canada. Geography -- Pacific Rim Pacific Rim, term used to describe the nations bordering the Pacific Ocean and the island countries situated in it. In the post–World War II era, the Pacific Rim has become an increasingly important and interconnected economic region. Mining Corp.'s ("Pacific Rim" or "the Company") (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension :PMU PMU Project Management Unit PMU Power Management Unit Pmu Pasteurella multocida PMU Pregnant Mare Urine (aka premarin) PMU Pick Me Up PMU Purdue Memorial Union (Purdue University) )(AMEX AMEX See: American Stock Exchange :PMU) South Minita definition drilling program on the El Dorado El Dorado, legendary country of South America El Dorado (ĕl`dərä`dō, –rā`–) [Span.,=the gilded man], legendary country of the Golden Man sought by adventurers in South America. project, El Salvador El Salvador (ĕl sälväthōr`), officially Republic of El Salvador, republic (2005 est. pop. 6,705,000), 8,260 sq mi (21,393 sq km), Central America. , has yielded additional high grade gold intersections from both step out and infill holes, including 19.26 g/t gold over 2.75 meters and 44.98 g/t gold over 1.1 meters. The latest results from the South Minita drilling further expand and better define the three parallel veins that comprise this gold zone. Barring the near-term discovery of any new mineralized min·er·al·ize v. min·er·al·ized, min·er·al·iz·ing, min·er·al·iz·es v.tr. 1. To convert to a mineral substance; petrify. 2. To transform a metal into a mineral by oxidation. 3. areas in the Minita - South Minita corridor that would necessitate further follow-up drilling, the Company anticipates imminently commencing an updated resource calculation to include the South Minita deposit in the El Dorado reserve and resource base. The results of the updated resource estimate are currently expected to be available by June 2006.
Latest South Minita 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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P05-404
(i) Minita 301460/ 112/ No significant results
533977 67
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P05-407
(i) Minita 301482/ 90/ 247.00 248.55 1.55 1.10 44.98 302
534057 75 256.40 256.60 0.20 0.15 20.20 218
265.75 266.70 0.95 0.65 6.75 39
345.70 351.25 5.55 2.10 6.42 9
394.80 396.15 1.35 1.10 6.68 19
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P05-410
(i) Minita 301727/ 90/ 433.45 434.45 1.00 0.65 8.86 114
533870 68
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P05-412 South 300514/ 273/ 346.90 347.25 0.35 0.30 64.25 414
Minita 534393 60 409.95 410.45 0.50 0.40 7.42 42
440.70 441.00 1.70 1.10 4.52 20
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P05-413 South 299975/ 270/ 412.10 413.10 1.00 1.00 11.66 66
Minita 534426 53 425.50 426.75 1.25 1.05 13.59 106
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P06-414 Minita 301723/ 113/ No significant results
533869 68
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P06-415 South 300449/ 270/ No significant results
Minita 534294 64
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P06-416 South 300078/ 254/ Results pending
Minita 534335 59
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P06-417 South 300493/ 270/ 469.45 469.70 0.25 0.20 10.21 n.a.
Minita 534300 76
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P06-418 South 300813/ 260/ 515.10 515.55 0.45 0.35 7.31 102
Minita 534444 58
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P06-419 South 299972/ 271/ No significant results
Minita 534411 60
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P06-420 South 534309/ 266/ 240.80 241.40 0.60 0.60 11.72 n.a.
Minita 300548 61 263.30 264.10 0.80 0.80 6.13 31
344.40 345.40 1.00 0.80 8.91 67
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P06-421 South 300240/ 270/ 295.95 299.35 3.40 2.75 19.26 135
Minita 534388 60 361.00 362.40 1.40 1.10 7.01 49
364.40 365.70 1.30 1.30 5.56 38
374.25 376.95 2.70 2.40 8.69 105
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P06-422 South 299904/ 272/ No significant results
Minita 534384 65
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P06-423 South 300606/ 259/ 393.10 394.55 1.45 1.35 27.87 200
Minita 534331 65
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P06-424 South 300045/ 268/ No significant results
Minita 534503 65
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P06-425 South 300240/ 270/ 291.50 293.15 1.65 1.30 15.62 82
Minita 534388 53
including 292.80 293.15 0.35 0.25 59.62 200
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(i) updates results pending from news release #06-02 dated
January 24, 2006.
Exploration Update Pacific Rim's exploration emphasis over the past year and a half has been to expand and develop the El Dorado mine proposed in the Company's January 2005 pre-feasibility study through the addition of new gold mineralization Mineralization The process by which the body uses minerals to build bone structure. Mentioned in: Rickets mineralization, n the bioprecipitation of an inorganic substance. at South Minita and the continuation of the Company's ongoing pre-construction development work. This strategy will continue through 2006 with the calculation of a new resource estimate for the El Dorado project, the completion of a feasibility study "A Feasibility Study" is an episode of the original The Outer Limits television show. It first aired on 13 April, 1964, during the first season. It was remade in 1997 as part of the revived The Outer Limits series with a minor title change. to examine the economics of an expanded operation at the Minita - South Minita deposit, and, upon receipt of a mining permit, the commencement of underground ramp construction. Upon completion of the South Minita delineation drill program, Pacific Rim's exploration focus will resume testing for new high-grade vein-hosted gold mineralization amongst the myriad of excellent drill ready targets the Company has discovered over the past year and a half at both the El Dorado and nearby Santa Rita Santa Rita may refer to:
"Since discovering the South Minita gold mineralization over a year ago, we have been working hard to delineate this complex deposit so that we could demonstrate the upside economic benefit that these gold ounces offer to the proposed El Dorado mine," says Tom Shrake, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "We believe South Minita has the potential to significantly increase the annual production rate for the El Dorado mine and help us reach our goal of becoming a low-cost, intermediate level gold producer, and we look forward to reaching these important milestones in the coming months. After 15 months of focusing our drilling on resource definition, we will soon be employing our drill fleet (recently expanded to 4 rigs) on the more exciting process of exploration drilling for new deposits." NI 43-101 Disclosure Pacific Rim's exploration work on the El Dorado project is supervised by William Gehlen a Certified Professional Geologist with the AIPG AIPG American Institute of Professional Geologists (No. 10626), an employee of Pacific Rim and a Qualified Person as defined in NI 43-101. Mr. Gehlen has verified that the drill results presented above have been accurately summarized from the official assay certificates provided to the Company. Pacific Rim's drill sampling procedures follow the Exploration Best Practices Guidelines outlined by the Mining Standards Task Force and adopted by The Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. . Samples have been assayed using fire assay with a gravimetric gravimetric /grav·i·met·ric/ (grav?i-me´trik) pertaining to measurement by weight; performed by weight, as a gravimetric method of drug assay. grav·i·met·ric adj. 1. finish on a 30-gram split. Quality control measures, including check- and sample standard-assaying, are being implemented. Samples were assayed by Inspectorate America Corporation in Reno, Nevada USA, an ISO (1) See ISO speed. (2) (International Organization for Standardization, Geneva, Switzerland, www.iso.ch) An organization that sets international standards, founded in 1946. The U.S. member body is ANSI. 9002 certified laboratory, independent of Pacific Rim Mining Corp. The Minita pre-feasibility study is supported by a technical report prepared for Pacific Rim Mining Corp. by SRK SRK Shah Rukh Khan (Indian actor) SRK Shoryuken (fighting games) SRK Soave-Redlich-Kwong (thermodynamic model) SRK Syk-Related Tyrosine Kinase Consulting (US) Inc. of Denver Colorado, entitled "Pre-Feasibility Study, El Dorado Project, El Salvador", dated January 21, 2005 and publicly available on SEDAR SEDAR System for Electronic Document Analysis and Retrieval SEDAR Southeast Data, Assessment, and Review . The primary author of the report is Mr. William F. Tanaka, a Qualified Person independent of Pacific Rim, as defined in National Instrument 43-101. Mr. Tanaka is a member of the Society of Mining Engineers (SME (1) (Small and Medium-sized Enterprise) See SMB. (2) (Subject Matter Expert) An individual who is well-versed in the policies and procedures of a particular department or division. ) and the Australasian Institute of Mining and Metallurgy metallurgy (mĕt`əlûr'jē), science and technology of metals and their alloys. Modern metallurgical research is concerned with the preparation of radioactive metals, with obtaining metals economically from low-grade ores, with (mAUSIMM). 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 South America, fourth largest continent (1991 est. pop. 299,150,000), c.6,880,000 sq mi (17,819,000 sq km), the southern of the two continents of the Western Hemisphere. . Pacific Rim utilizes the cash flow from its 49% interest in the Denton-Rawhide gold mine in Nevada to explore, define and advance its projects, including the flagship El Dorado gold project in El Salvador. Pacific Rim's goal is to become a highly profitable, intermediate-level gold producer. On behalf of the board of directors, Thomas C. Shrake, President and CEO Cautionary Note Regarding Forward-Looking Information -- Information set forth in this document includes forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. . By their nature, forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond Pacific Rim's control, including but not limited to: statements of the Minita deposit's economic potential; information included in the pre-feasibility study such as capital and operating costs operating costs npl → gastos mpl operacionales , projected production summaries, gold and silver prices and financial analysis; anticipated drilling plans for the South Minita gold zone; the timing of a resource estimate for the South Minita gold zone; the impact of the South Minita gold zone on the project's economics; the timing and nature of economic analyses at the El Dorado project; the execution and outcome of current or future exploration activities; significant fluctuations in metal prices; general market and industry conditions; and other factors detailed in the Company's filings with Canadian regulatory agencies and the U.S. Securities and Exchange Commission. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise im·pre·cise adj. Not precise. im  pre·cise ly adv. and, as such, undue reliance
should not be placed on forward-looking statements. Pacific Rim's
actual results, programs and financial position could differ materially
from those expressed in or implied by these forward-looking statements.Cautionary Note to U.S. Investors -- The United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. Securities and Exchange Commission permits U.S. mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. This news release may include such terms as "measured," "indicated," and "inferred" "resources" that the SEC guidelines strictly prohibit U.S. registered companies from including in their filings with the SEC. U.S. Investors are urged to consider closely the disclosure in our Form 20-F, File No. 001-31328, which may be secured from us, or from the SEC's website at www.sec.gov/edgar.shtml. The TSX and the AMEX have neither reviewed nor accept responsibility for the adequacy or accuracy of this release. Pacific Rim Mining Corp. (TSX:PMU) (AMEX:PMU) |
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