The company is mobilising diamond drilling and reverse circulation drilling rig to the project locations, to commence drilling within two weeks.
Pacifico said that it has also received co-funding from the Northern Territory Government, which is expected to cover around 50% of the planned direct drilling costs at the Bing Bong prospect.
The funding will be provided under the Northern Territory’s Geophysics and Drilling Collaborations program.
Pacifico Minerals managing director Simon Noon said: "In particular, we are extremely excited by the potential at Coppermine Creek with previous drilling having already intersected high grade copper with several drill holes within the alteration zone. In terms of funding, we are very fortunate to have secured the support of the Northern Territory Government."
Pacifico has a farm-in agreement with Sandfire Resources on the Borroloola West Project, which includes 15 exploration licences, one mining licence and one exploration licence, and as per the agreements the company has to spend further $38500 by 20 December to get 51% interest in the mining.
