Pistol Bay's JV Partner Revolver Resources Reports Assay Results from Summit B
2014年2月21日 - 4:13AM
Marketwired
Pistol Bay's JV Partner Revolver Resources Reports Assay Results
from Summit B
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb 20, 2014) -
Pistol Bay Mining Inc. (TSX-VENTURE:PST) ("the Company") reports
that Revolver Resources Inc. (Revolver), joint venture partner on
the Summit B property, announces initial assay results. The 1,394
hectare (3,446 acre) Summit B property is located in the Iskut area
of northwestern British Columbia, Canada, and is contiguous with
Colorado Resources Ltd.'s ("Colorado") North Rok copper-gold
property (the "North Rok Property"). Revolver has the option to
earn a 60-per-cent interest in the property by completing
$2.5-million in exploration expenditures on the property, making
$500,000 in cash payments to Pistol Bay and issuing Pistol Bay four
million common shares over the next three years.
Revolver released the assay results of two DDH (SUMB-02 and
SUMB-05), distanced by 1 km, revealing several intersections of
copper mineralization associated with quartz-carbonate veins and
fracture filling. Best results produced intercepts of 6.3 m @ 0.43
wt. % Cu (SUMB-02), 1.2 m @ 0.18 wt. % Cu and 0.3 m @ 0.25 wt. % Cu
(SUMB-05) (The lengths of the intervals do not represent true
stratigraphic lengths). The drill holes intersected a folded,
fractured and sheared assemblage of Permian basic-intermediate
volcanic rocks interstratified with thin shale, phyllite, schist
and siltsone layers. A significant number of
pyrite+/-chalcopyrite-bearing quartz-carbonate
(calcite-ankerite-dolomite) veins were encountered throughout the
core with numerous pyrite+/-chalcopyrite fracture and
fault-fillings especially at depth greater than 200 m.
The copper mineralization is associated with the core of a 2 km
x 500 m NW-oriented high-chargeability/low resistivity anomaly
bounded by NW-striking high angle faults (see Revolver Resources
press release of November 8, 2013). Cu-bearing zones extend in a
northwesterly direction for at least 1 km, whereas an
arsenic-copper-gold-rich system is exposed at the periphery of the
anomaly, especially on the southeastern segment of the property.
Harsh winter conditions, rugged terrain and the difficulty to
obtain water prevented the investigation of this area. However,
Revolver still holds a drilling permit for at least four additional
holes and expects to resume its drilling campaign on the Au-rich
zone in the early summer months.
Revolver commissioned Black Hawk Diamond Drilling Ltd. for the
drilling operations. UTM Exploration Services from Smithers, BC
perfomed the on-site management of drilling operations, core
logging and core sampling. UTM established a strict protocol for
the QA/QC program including the insertion of standards, blanks and
duplicates into the sampling procedure. Assays were performed at
the AGAT Laboratories using aqua regia digestion with ICP/ICP-MS
finish for Cu and other metals and fire assay with ICP-OES finish
for Au.
Technical information in this news release has been prepared
and/or reviewed by Mike Magrum, PEng, and qualified person as
defined in NI 43-101.
Pistol Bay further reports that Rio Tinto Canada Uranium
Corporation ("RTCUC") continues to drill on the C-5 Uranium
property in the Athabasca Basin, Saskatchewan. RTCUC is currently
on the fourth hole of a total of approximately 2,500m of diamond
drilling proposed for the 2014 C-5 Block winter exploration program
with a budget of $1,200,000. The program is designed to test five
to six holes within the Corridor A target area as a follow-up to
mineralization intersected during the winter 2013 exploration
program.
About Pistol Bay Mining Inc. (TSX-VENTURE:PST) is a diversified
Junior Canadian Mineral Exploration Company with a focus on
graphite, precious and base metal properties in North America..
For additional information please contact Charles Desjardins at
Pistol Bay Mining Inc. or visit www.pistolbaymining.com.
On Behalf of the Board of Directors
PISTOL BAY MINING INC.
Charles Desjardins, President and Director
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release. Cautionary note:
This report contains forward looking statements. Resource
estimates, unless specifically noted, are considered speculative.
Any and all other resource or reserve estimates are historical in
nature, and should not be relied upon. By their nature, forward
looking statements involve risk and uncertainties because they
relate to events and depend on factors that will or may occur in
the future. Actual results may vary depending upon exploration
activities, industry production, commodity demand and pricing,
currency exchange rates, and, but not limited to, general economic
factors. Cautionary Note to US investors: The U.S. Securities and
Exchange Commission specifically prohibits the use of certain
terms, such as "reserves" unless such figures are based upon actual
production or formation tests and can be shown to be economically
and legally producible under existing economic and operating
conditions.
Pistol Bay Mining Inc.Charles DesjardinsPresident and
Director604-683-5445604-687-9631info@pistolbaymining.comwww.pistolbaymining.com
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