Pacific Resources completes Snowstorm acquisition for $200,000

• Pacific Resources completed the 100% acquisition of the Snowstorm Gold Project after making a final $200,000 cash payment.
• The company's shares remained unchanged at $0.001 following the announcement.
• The acquisition secures a high-grade gold exploration asset with historical drilling and pending sampling results in Victoria's Eastern Goldfields.

Pacific Resources (ASX:PXR) completed its acquisition of the Snowstorm Gold Project by making a final $200,000 payment to vendor Mines of Stirling.

The final instalment transfers 100% ownership of the project's parent entity, completing a total purchase structure that included a $40,000 deposit and a prior $160,000 tranche.

The project features historical drilling comprising 2,838m of diamond core and 424m of rotary air blast, with a recent sampling programme recently completed and results pending.

The acquisition expands the exploration footprint of Pacific Resources in Victoria's Eastern Goldfields, where the company also holds an option to acquire additional regional assets subject to due diligence.

Following the announcement, the Pacific Resources share price was unchanged at $0.001.

The company holds a broader portfolio of Australian resource assets, including the Sulphide Creek Gold-Antimony Project and Mersey Base Metals-Gold Project in Tasmania.

It also maintains a 100% interest in the Blackall Coal Project in central Queensland, which contains a JORC-compliant thermal coal resource.