a cousin company aquires a Brazil property, KOBEX will make another move ALL IS NOT LOST FOLKS CAUSE THE STORIES ARE JUST BEGININIG!! (I HOPE)



Pacific Imperial wins bid for Marcionilio Ni-Cu project

2012-12-04 14:43 ET - News Release


Mr. H. Leo King reports


Pacific Imperial Mines Inc., through its Brazilian subsidiary, Pacific Imperial Mineracao do Brasil Ltda., was the successful bidder and has been awarded a 100-per-cent interest in the Marcionilio nickel-copper property. The property was recently offered for public tender by the owner, Companhia Baiana de Pesquisa Mineral (CBPM).

CBPM is a Bahia state-owned mineral exploration company that carried out the initial exploration work and identified the property as having economic mineral potential. The company expects to sign the exploration and development contract for the property with CBPM in early January, 2013.

The property, about 10,090 hectares in size, is located in east-central Bahia state within an area offering excellent infrastructure. CBPM recently carried out an airborne geophysical survey followed by a program of geological mapping, soil and rock geochemistry, and an induced polarization (IP) survey directed at evaluating the selected targets.

The initial exploration work has outlined two targets: a nickel-copper occurrence within a mafic-ultramafic igneous complex and iron-titanium-vanadium mineralization within a gabbro-anorthosite complex. On the nickel-copper target, a zone 1,100 metres by 300 metres of anomalous nickel and copper in soil and rock, co-incident with a 1,300-metre-long IP anomaly, was outlined and is ready to be tested by drilling.

The company intends to complete a National Instrument 43-101-compliant report on the property for submission to the TSX Venture exchange in order to qualify the property as one of merit.