Pacifica Silver identifies targets at Claudia

Executive Summary

• Pacifica Silver Corp. provided an exploration update on its 100%-owned Claudia silver-gold project in Durango, Mexico, highlighting new high-priority drill targets identified via surface channel sampling.
• The company has drilled 35 holes totaling over 8,854 meters as of March 30 within its 20,000-meter Phase II program, with new targets at the Pinolera zone and Contraria vein swarm ready for drill testing.
• Significant high-grade surface channel sampling results were reported, including up to 17.5 g/t Au and 117 g/t Ag, confirming mineralization extensions at Tres Reyes, Pinolera, Justina, and Contraria.

Key Details

• Drilling Progress: As of March 30, the company has completed 35 diamond core holes totaling 8,854 meters, including 354 meters in three Phase I holes that were re-entered and deepened.
• New Targets: Two new high-priority targets have been identified for drill testing: the Pinolera zone and the recently recognized Contraria vein swarm.
• Channel Sampling Highlights (Surface):
  • 17.5 g/t Au and 59 g/t Ag over 0.6 m (Contraria vein swarm).
  • 4.82 g/t Au and 66 g/t Ag over 1.5 m (Contraria vein swarm).
  • 1.64 g/t Au and 109 g/t Ag over 1.5 m (Pinolera zone).
  • 0.51 g/t Au and 117 g/t Ag over 0.5 m (Southern Tres Reyes vein).
  • 1.48 g/t Au and 63 g/t Ag over 1.5 m.
• Mineralization Extensions:
  • Tres Reyes vein mineralization extended 250 m to the south.
  • Pinolera zone mineralization extended to nearly 600 m.
  • Justina vein extent refined to approximately 750 m.
  • Contraria vein swarm filled in with multiple transects; consists of subparallel quartz veins up to 20 cm wide, extending 300 m wide and 1.2 km long.
• Statistical Breakdown (286 Samples):
  • Silver: Top 11 samples (4%) averaged 61 g/t Ag (max 117 g/t Ag). Top 23 samples (8%) averaged 40 g/t Ag. Overall average for all samples was 5 g/t Ag.
  • Gold: Top 8 samples (2.8%) averaged 3.78 g/t Au (max 17.5 g/t Au). Top 18 samples (6%) averaged 2.06 g/t Au. Overall average for samples above detection limit was 0.23 g/t Au.
• Phase II Program Scope: The 20,000-meter program aims to extend high-grade zones at Aguilarena, follow up on the Justina vein discovery, and drill test the southern extension of Aguilarena-Tres Reyes, Justina, Contraria, Pinolera, Mina Vieja, and Mina de Oro areas.
• Incentive Stock Options: The Board granted 1.4 million incentive stock options to directors, officers, advisers, and consultants.
  • Exercise Price: $1.22 per share.
  • Term: 5 years from date of grant.
  • Vesting Schedule: 25% upon grant, 25% at 6 months, and 25% every 6 months thereafter (18-month total vesting period).

Notable Quotes

• No direct quotes from the CEO or President were included in the provided text.