Pan American Goldfields Ltd.(OTCQB:MXOM) announced that it expects the Preliminary Economic Assessment on its Cieneguita project to be completed during Q2 2012. The Company also reported that hydrogeological, geotechnical and environmental baseline studies are all currently underway at the project.

As quoted in the press release:

The Cieneguita project hosts a NI43-101 compliant resource estimate above a 0.8 gram per tonne gold equivalent cut-off grade (using prices of $950/oz gold and $14.50/oz silver) of 20.1 million tonnes (measured + indicated) containing 474,900 ounces gold and 33.5 million ounces silver as defined in the company’s technical report as filed on SEDAR on October 22, 2010.

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