| ||September 23, 2002|
Additional Drill Results From El Dorado Program
| ||PMU News Release #02-14|
Pacific Rim Mining Corp. is pleased to provide an update of its El Dorado exploration program, including the latest drilling results. Results have been received for 10 new drill holes; P02-207 through 216. Pacific Rim is conducting an on-going diamond drill program on the El Dorado project. The program is concentrating on the central part of the district at present, and to date has comprised 14 holes all drilled within 1 kilometer of the Minita vein. The Minita Vein system was mined in the mid-1900's and currently hosts an indicated resource of 799,200 tonnes with an average grade of 13.7 g/t gold and 97.9 g/t silver. This resource totals 352,000 ounces of high-grade gold and 2.5 million ounces of silver*. The Company has adopted a deliberate, systematic approach to its current drill program, which is designed to locate additional high-grade chutes separate from the known resource in the Minita Vein.
A summary of the latest drill results is presented in the following table:
(*click on the following link for drill results)
A map will be available at our website.
ABOUT THE DRILL RESULTS, DRILL PLANS AND SURFACE WORK
Hole P02-208 intersected the Minita Vein north of the known resource at a down-hole depth of 237.5 meters where it assayed 38.2 g/t gold and 65 g/t Ag over a true width of 0.33 meters. P02-216 was designed to test the Minita structure 200 meters further to the north of hole 208, where the vein zone expands to over 5 meters wide. Gold grades encountered in P02-216 are below the Company's 6g/t Au cutoff. Additional step out drilling further to the north is warranted.
Pacific Rim is making extensive use of the structural geology of the El Dorado system in determining the locations of its drill holes. Flexures, intersections and other structural complications that may indicate the presence of wide veins are being targeted. The Company is planning to drill two holes to the south of the Minita resource area where the Minita/Moreno systems coalesce and dramatically bend to the east and connect with the Guadalupe system.
Future drilling on the Rosario vein is designed to follow-up on results from P02-203 (see PMU release #02-08) which hit 1.2 meters averaging 31.9 g/t Au. Historical underground sampling and core drilling on the Rosario vein by previous workers (including 1.52 meters of 12.4 g/t Au in hole 94; 2.05 meters of 10.7 g/t Au and another 2.05 meters of 16.0 g/t Au in hole 97; and 1 meter of 30.5 g/t Au in hole 152) provide additional encouragement for bonanza grades over economic widths. Rosario is interpreted to bend to the south and connect with the Cerro Alto veins. Additionally, the down-rake, open-ended high-grade mineralization in the Nueva Esperanza Vein is slated for deeper drilling.
Surface mapping continues to identify new veins and targets in the central district. This work is ongoing and will be expedited by the receipt of new base maps flown in the summer.
"We are continuing to focus at this stage of the El Dorado program on the central part of the district which comprises only 20% of the total strike length of the system," states Tom Shrake, CEO. "El Dorado is a very large mineralized system that will take many drill holes over the coming months to evaluate. We are very pleased to have intersected high-grade gold mineralization both north and south of the known Minita resource, as well as in two other veins on the property, which will be followed up with future drilling. Furthermore, our surface exploration is resulting in the discovery of numerous additional, mineralized veins and is giving us a better understanding of the structural controls on mineralization. Our intent is to use a systematic and deliberate approach to the drill program to seek additional ounces at El Dorado."
ABOUT EL DORADO
The El Dorado District is an adularia-sericite type epithermal gold system located in El Salvador that hosts bonanza gold. Over 35 known quartz veins have been identified and these veins have a total strike length of over 18 kilometers. Diamond drilling by previous workers concentrated on shallow, near-surface intervals. Limited past drilling at deeper intervals demonstrated that the highest grade gold was encountered in a "Productive Interval" that occurs in the elevation range of approximately 100 to 250 meters above sea level (ASL). This equates to a depth below surface of roughly 150 to 300 meters. Only two veins (Minita and Coyoterra) have been systematically drill-tested in the Productive Interval by previous workers. The current drill program is designed to test a number of high-priority vein targets in the Productive Interval seeking high-grade chutes of gold mineralization.
*Details of the Minita resource estimate and a summary of the geology of the El Dorado project are presented in a technical report prepared for Dayton Mining Corporation (a predecessor company of Pacific Rim Mining Corp.) by Mr. P. LaCroix, P.Eng (a Qualified Person as defined in National Instrument 43-101) entitled "Resource Update Nueva Esperenza & El Dorado Mine Area - El Dorado Project - El Salvador", dated February 8, 2002. The report is summarized in the Company's most recent Annual Information Form, available on SEDAR.
Pacific Rim's exploration work on the El Dorado project is being supervised by William Gehlen a Certified Professional Geologist with the AIPG (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. This includes splitting the drill core, collecting one half for assay and retaining the other half for future reference, uniquely labelling and bagging each sample, limiting access to drill core and samples, storing samples in a secure environment and promptly shipping samples to a North American laboratory. Samples have been assayed using fire assay with a gravimetric finish on a 30-gram split. Quality control measures are being implemented. Samples were assayed by Inspectorate America Corporation in Reno, Nevada USA, an ISO 9002 certified laboratory, independent of Pacific Rim Mining Corp.
On behalf of the board of directors,
"Thomas C. Shrake"
Thomas C. Shrake
The statements contained in this release that are not historical facts are forward-looking statements, which involve risks and uncertainties that could cause actual results to differ materially from targeted results. These risks and uncertainties include but are not limited to the expected size of the Company's current drill program, the controls on mineralization, and the potential for discovering additional gold mineralization.
The TSE and The AMEX has neither reviewed nor accepts responsibility for the adequacy or accuracy of this release.
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