Just released an announcement:
INITIAL PACMAG RESOURCE ESTIMATE (JORC COMPLIANT)
FOR ANN MASON COPPER-MOLYBDENUM DEPOSIT
• PacMag's initial Ann Mason resource of 810 million tonnes @ 0.40% copper and 0.004% molybdenum (0.30% copper cut off) contains 64% more copper than previous estimate.
• 3.2 million tonnes (7.1 billion pounds) of contained copper metal with an in-ground value of US$25 billion based on current metal prices.
• Higher grade material contained within the new global inferred resource
o 221 million tonnes @ 0.51% copper, 0.004% molybdenum (0.55% copper
• Significant upside potential to increase the resource grade with large gaps in the northwest of the deposit along strike from the higher grade copper –
molybdenum zones already identified (containing previous drill intersections of
302 metres @ 0.81% copper and 220 metres @ 0.68% copper).
• Mineralisation is open at depth on most drill sections, providing potential to
further increase resource tonnage.
The Directors of PacMag Metals Ltd ("PacMag") are very pleased to report the company's initial resource estimate for the Ann Mason Copper-Molybdenum-Gold deposit owned 100% by PacMag Metals Limited. The deposit is located in Nevada USA within a well known mining district.