69 metres @ 5.03g/t drilling results

Gold assays have been received for 5 metre composite samples from a programme of infill
RC drilling at Golden Terrace South.

• Hole GTRC 199 returned;
• 69 metres @ 5.03g/t (EOH) that includes
• 15 metres @ 10.05g/t and
• 35 metres @ 5.48g/t.
• Hole GTRC 201 returned;
• 60 metres @ 2.28g/t (EOH) that includes
• 15 metres @ 5.63g/t and
• 5 metres @ 4.33g/t (EOH)
• Hole GTRC 202 returned;
• 41 metres @ 1.49g/t (EOH)
• Hole GTRC 203 returned;
• 45 metres @ 3.26g/t that includes
• 5 metres @ 11.35g/t
Redcliffe Project – Leonora WA
Drilling Update
GROWTH THROUGH DISCOVERY
Announcements Office
Australian Securities Exchange Limited
Sydney
12 August 2009
Infill RC Drilling at Redcliffe – Golden Terrace South Gold Resource
GROWTH THROUGH DISCOVERY
Golden Terrace South– Gold Resource
In mid 2008 the initial resource estimate for Golden Terrace South was 416,000 tonnes @ 3.3g/t gold, for 44,000 ounces
(consisting of an Indicated Resource of 113,000 tonnes @ 3.7g/t and an Inferred Resource of 302,000 tonnes @ 3.2g/t).
Further drilling has been carried out that intersected mineralisation along strike to the south and at depth that offers
further scope.
Golden Terrace South is located just 50km north east of Leonora, and with the upper zones of the resource being
relatively near surface, highly weathered and supergene in nature, they are potentially amenable to open pit mining.
As advised in the recently released June Quarterly Activities Report, work has progressed on compilation of information
in support of a mining proposal within the granted mining lease covering the Golden Terrace South resource. Consultants
have been engaged to prepare the necessary environmental and development reports for submission to the Department
of Mines and Petroleum.
Also as advised in the quarterly report, a geological review of the Golden Terrace South resource is underway and an
infill RC drilling programme was designed to upgrade the confidence levels of interpreted mineralisation outlines within
a conceptual (Stage One) open pit design.
Zones of mineralisation adjacent to cross section 6838280N, (that yielded past results including 24m @ 12g/t and
9m @ 15g/t) were particularly targeted for further detailed definition as they represent zones of high metal content that
are critical to estimates of resources. The drilling planned therefore included several holes on adjacent sections to the
south (6838270N and 6838260N).
Gold assays have been received for 5 metre composite samples from a 12 hole programme of infill RC drilling conducted
in the first week of August 2009.
The results to hand appear to support the previous strong mineralisation intersected. Drill hole GTRC 199 on section
6838270N returned 69 metres @ 5.03g/t (EOH) that includes 15 metres @ 10.05g/t and 35 metres @ 5.48g/t.
Drill hole GTRC 201 on section 6838260N returned 60 metres @ 2.28g/t (EOH), that includes 15 metres @ 5.63g/t
and 5 metres @ 4.33g/t (EOH).
Further results of note were returned from drill hole GTRC 203 which returned 45 metres @ 3.26g/t that included 5
metres @ 11.35g/t gold.
Composite sample results, for which single metre assays are awaited, is tabulated herewith.
Golden Terrace South – RC Drilling – 5m composite sample assay results
Hole ID East North Area Az/Dip From To Interval >0.1 g/t gold
GTRC196 357490 6838270 GTS 270/-60 35 45 10m @ 0.49
GTRC196 GTS 75 80 5m @ 0.11
GTRC197 357500 6838270 GTS 270/-60 45 80 35m @ 1.37
GTRC198 357510 6838270 GTS 270/-60 45 60 15m @ 0.17
GTRC198 GTS 80 85 5m @ 0.39
GTRC199 357520 6838270 GTS 270/-60 20 25 5m @ 0.94
GTRC199 GTS 35 40 5m @ 0.40
GTRC199 GTS 50 119 69m @ 5.03 (EOH)
GTRC199 GTS 55 70 inc 15m @ 10.05
GTRC199 GTS 80 115 inc 35m @ 5.48
GTRC200 357530 6838220 GTS 270/-60 25 40 15m @ 0.41
GTRC200 GTS 60 65 5m @ 0.17
GTRC201 357524.5 6838260 GTS 270/-60 50 110 60m @ 2.28 (EOH)
GTRC201 GTS 50 65 inc 15m @ 5.63
GTRC201 GTS 105 110 inc 5m @ 4.33 (EOH)
GTRC202 357530 6838360 GTS 270/-60 25 35 10m @ 0.47
GTRC202 GTS 60 101 41m @ 1.49 (EOH)
GTRC203 357535 6838380 GTS 270/-60 35 40 5m @ 0.11
GTRC203 GTS 45 50 5m @ 0.12
GTRC203 GTS 75 120 45m @ 3.26
GTRC203 GTS 75 80 inc 5m @ 11.35
GTRC204 357500 6838470 GTS 270/-60 35 40 5m @ 0.14
GTRC204 GTS 45 50 5m @ 0.12
GTRC204 GTS 55 59 4m @ 0.21 (EOH)
GTRC205 357510 6838470 GTS 270/-60 25 45 20m @ 0.49
GTRC206 357520 6838470 GTS 270/-60 30 45 15m @ 0.15
GTRC206 GTS 60 65 5m @ 0.89
GTRC207 357530 6838470 GTS 270/-60 20 25 5m @ 0.20
Coordinates in GDA94 Zone51. Samples assayed via conventional fire assay by Kalassay in Leonora. Intervals were calculated using a 0.1g/t lower cut off,
no upper cut, and a maximum of 1 sample internal dilution. Bold figures >20g.m. EOH = end of hole.
GROWTH THROUGH DISCOVERY
360000 mE 370000 mE 380000 mE
6860000 mN
6870000 mN
340000 mE 350000 mE
6840000 mN
6850000 mN
6820000 mN
6810000 mN
6830000 mN
6800000 mN
50km
Horton
• Gold in soil 500m x 150m
>20ppb up to 150ppb
Greymare Creek
• Previous shallow RAB anomaly
3m @ 3.79 g/t & 6m @ 1.38 g/t
• Pacrim drilling proposed
Aliso
• Gold in soil 500m x 200m
• Previous channel samples
4m @ 11.7g/t gold
Canjada
• Gold in soil 1500m x 250m
• Up to 520ppb
Gully
• Previous RC drilling:
4m @ 6.73g/t, 4m @ 2.14g/t gold
• Pacrim drilling proposed
Gully South
• Previous RAB drilling:
11m @ 2.57g/t gold
• Pacrim drilling proposed
Mesa Pit
• Previous shallow pit where NOI
average grade quoted 6.0g/t gold
• Pacrim drilling proposed
Golden Spear
• Previous RC intercepts: 5m @ 41.9g/t,
24m @ 4.3g/t
• Pacrim further drilling proposed
Nambi Pit
• 32,500 oz historically mined
• Strong silica sulphide lode
• Best intercept 10m @ 8.45 g/t gold
• Continuous down to 200m. Still open
• 400m strike length
• Initial PRE resource 52,000 oz gold
(Indicated 262,000t @ 3.3g/t +
Inferred 298,000 @ 2.5g/t)
Nambi South
• 2000 oz mined previously
• Best intercept 30m @ 5.0g/t gold
• Pit sampling confirmation:
8.7m @ 4.52g/t, 6.0m @ 5.9g/t
• Pacrim drilling proposed
Nambi Nickel
• 20km strike of ultramafic sequence
• PRE RC drilling: 98m @ 0.4% Ni,
incl. 7m @ 1.05%Ni, 0.49%Cr, 198ppm Co
• Petrology identifies fresh sulphides
Redcliffe Pit
• Previous open pit in oxide zone
• Multiple gold lodes
• PRE RC intercepts: 8m @ 4.09g/t,
6m @ 4.46g/t, 4m @ 5.16g/t gold
West Lode
• Previous shallow pits –
average grade of 3.2g/t gold
• Multiple gold lodes
• PRE RC intercepts: 17m @ 2.84g/t,
3m @ 13.57g/t gold
PICNIC SHEAR
MERTONDALE WEST
MERTONDALE 5 (39,000 oz)
TONTO
QUICKSILVER
MERTONDALE (250,000 oz)
Malcolm
WESTERN
STRUCTURES
727
FIB
GOLD PIT
LINGER & DIE
SUNDAY
SUNDAY PICNIC
SONS OF GWALIA
(5.1M oz)
727B
Addis
MERTONDALE 3/4 (180,000 oz)
Nambi
Leonora
HARBOUR LIGHTS
(0.37M oz)
TOWER HILL
(1.5M oz)
CARDINIA
TARMOOLA
(3.1M oz)
20km
NORTH
Golden Terrace South
• PRE RC intercepts: 24m @ 12.0g/t,
9m @ 15.1g/t, 17m @ 5.44g/t,
19m @ 5.57g/t gold
• Initial PRE resource 44,000 oz gold
(416,000t @ 3.3g/t =
Indicated 113,000t @ 3.7g/t
+ Inferred 302,000 @ 3.2g/t)
727 Prospect
• PRE RAB intercept:
10m @ 4.92g/t gold
• PRE RC intercepts:
10m @ 5.07g/t, 6m @ 3.64g/t gold
Picnic
• Historic shafts and pits
• Numerous gold geochemical anomalies
• PRE RC returned 2m @ 35.5g/t gold
Barry & Kelly
• Similar geology to Golden Terrace
• Best Intercepts: 6m @ 6.03g/t,
4m @ 3.47g/t, 12m @ 2.19g/t gold
• Largely untested
• Major drilling program proposed
Golden Terrace North
• PRE RC Intercepts: 12m @ 4.29g/t,
3m @ 18.82g/t, 7m @ 7.70g/t gold
Golden Terrace Central
The Hub
727A
+1M Ounce Production & Resources
Mine (Production)
Mine / Prospect
Pacrim Energy Tenement Area
Pacrim Energy Prospect
Mertondale Shear Zone
Lineaments
Road
Track
Granitoid
Greenstone
Sediment / F. Volcanic
Ultramafic
BIF / Chert
REDCLIFFE GOLD PROJECT
Leonora, Western Australia
Tenements April 2009
GDA94 ZONE51
0 10km
Redcliffe Project Background
Pacrim’s 100% owned Redcliffe Project is located in the north eastern Goldfields of Western Australia, 10-90km from
Leonora. The Project covers approximately 65 kilometres of strike length of the Mertondale Shear Zone along with
parallel and associated structures. An estimated 400,000 ounces of gold has been produced from the Mertondale
Shear Zone from historic mines and pits that operated in the 1980s and 1990s. These include the shallow Nambi and
Redcliffe pits that produced in excess of 90,000 ounces from within the Pacrim project tenements.
The Company’s Redcliffe Gold Project exploration led to the initial resource estimate of 151,000 ounces of gold,
(consisting of an Indicated Resource of 385,000 tonnes @ 3.42g/t and an Inferred Resource of 1,678,000 tonnes @
2.0g/t), with the Board confident of increasing this through further exploration.
The resources are headed by Golden Terrace South, which totals 44,000 ounces of gold (consisting of an Indicated
Resource of 113,000 tonnes @ 3.7g/t and an Inferred Resource of 302,000 tonnes @ 3.2g/t) which is based on Pacrim
drilling since discovery.
Numerous gold prospects occur within Pacrim’s Redcliffe Project. They offer attractive exploration targets with
opportunities for further extensions and additions to known mineralisation.
Rodney Foster (BSc Geology)
Managing Director
Pacrim Energy Limited
The information in this report, as it relates to Exploration Results and Resource Estimates, is based on information compiled and/or reviewed by Rodney Foster who is a
Member of The Australasian Institute of Mining and Metallurgy. Rodney Foster is the Managing Director of the Company. He has sufficient experience which is relevant
to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004
Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Rodney Foster consents to the inclusion in the report of the
matters based on his information in the form and context in which it appears.
GROWTH THROUGH DISCOVERY