High-Grade Silver Intercepts, But Is There Enough Scale? | Pacifica Silver Corp CEO Interview

**Antonio** (0:00)
This video is sponsored by Terrahutton, who makes the invisible, investible. Today on the CEO BBQ, early stage silver exploration in Mexico, together with Pasofina Silver.
But if you're short on time, subscribe to our free newsletter, and once a week, we'll send you a five-minute summary of all interviews we put out, resourcetalks.com for a free weekly newsletter. Now, although this company has not paid us for the production of this video, you should still understand that we are not financial advisors, and this is not intended as financial advice. It is a broad, general, and impersonal piece of information intended only for those who know and understand the risks of junior mining of which there are many. Before moving on, read the company's official filings on Sitterplus.ca and do your own due diligence. Pause the screen and read all the disclaimers I've shown you because your capital is at risk. If this isn't clear, go to the last section of this video for a longer explanation of the risks and biases, and do not consume this content if you don't agree with everything said therein. Moving on, Paso Finas flagship is called the Claudia Project, and it's located roughly 145 kilometers northwest of the city of Durango, in Mexico's Sierra Madre Occidental. The project is a historic artisanal mining district, and it covers almost 12,000 hectares of low-sulfidation epithermal vein systems that haven't really seen all that much modern exploration until now.
The reason behind it is, of course, hopefully going to be clear in the first part of this interview. Paso Fin is currently drilling there. They're drilling a few of the targets that we'll talk about as well, with the focus on the structural trends with three active diamond rigs on site to complete an expanded 20,000-meter drill campaign designed to follow up on the high-grade silver-gold structures like the Justina vein, which we'll talk about that they found during the first program.
The biggest upcoming catalyst, obviously, will be the final asset releases from the remaining phase two drill holes, followed up by the mapping out, hopefully, of a systematic maiden mineral resource estimate as the asset advances through the exploration phase. It's also something that we'll definitely be asking about later on because it is related to the option agreement for the asset as well. There's a strict timeline on it of 2029, so we'll definitely talk about that. Now, for some of the numbers and a bit of the details here, Pasifina is listed as PSIL, so that's P-S-I-L on the C-S-E in Canada, where the average daily volume over the last three months has been about 100,000 units. The 52-week high is $2.48 and a 52-week low is $0.35, so quite a lot of volatility in between there. Right now though, with a little under 77 million shares outstanding and a $90 million market cap today, this is a $1.17 stock with the 50 and the 200-day moving average at $1.22. And $1.38 respectively, so the stock is now trading below those two. They're close to 15 million warrants and 4.6 million options to get a representing about 20% of the fully diluted 96.2 million shares. Last time they closed a big financing was at the end of January of this year at $1.45, bringing in a total of about $23 million.
How much money do they have right now and how much money are they going to spend on the rest of this drill program? Will they be back to the market anytime soon? Are of course questions that we'll be asking later on in the conversation as well. But for this to actually become a conversation though, I will unfortunately have to shut up already. Todd, I'll give you the word here. But first of all, thank you for sitting down with us today.

**Todd** (3:34)
Well, Antonio, it's nice to meet you and Christian. Thank you for the time. Just before we get into it, we actually pronounce the company Pacifica.

**Antonio** (3:42)
What did I call it? I think I call it, oh yeah, I got it, Pacifica. That makes sense.
Yeah, fair enough. It is Monday morning for most people. It's Monday afternoon for me actually. Christian has been off for a week, so I'll let him kick it off.

**Christian** (3:59)
All good. I'll do the heavy lifting here, Antonio. It's not for you on this Monday. Thanks for joining us Todd. Before we get this started, walk us through the business strategy for Pacifica here, because it's a fairly new company.
Do you plan to get this into production or plan to sell it? What's the business strategy?

**Todd** (4:19)
Well, currently, the business strategy is just to drill, drill, drill.
We're blessed as a junior mining company to have a very large project in Mexico and in a very safe jurisdiction part of the country as well.