Pistol Bay Receives Assessment Report on Summit A and Summit D Properties
05 February 2014 - 11:30PM
Marketwired Canada
Pistol Bay Mining Inc. (TSX VENTURE:PST) ("the Company") is pleased to announce
that it has received the final Assessment Report and accompanying assay results
from the field program conducted on its 100% owned Summit A and Summit D
properties adjoining the boundary of Imperial Metals Red Chris Copper-Gold
project, located 80km south of the town of Dease Lake in the Iskut area of
northern British Columbia.
In July 2013 UTM Exploration Services Ltd. (UTM) of Smithers, British Columbia
mobilized a crew to conduct field mapping and sampling on areas of the Summit A
& D claims (approximately 7,106 hectares) which were not previously explored in
2010. In 2010 work done on the property included a soil geochemical survey and
minor geological mapping and stream silt sampling, resulting in 102 soil samples
and 7 silt samples. Two anomalous gold values were found. Work was concentrated
around the northern third of the property, and the southern quarter. Work
resulted in a few anomalous soil samples suggesting potential in the southwest
and north.
The purpose of the July 2013 work program was to follow up on the success of the
2010 field program and identify possible new trends, as well as to discover new
areas of interest and mineralization. More exploratory work was to focus on the
Summit D area in the north of the claim group where copper mineralization has
been exposed and discovered in recent years, both on neighbouring claims of
other Minfile and tenure holders as well as the success of 2010 rock sampling.
During the 2013 field program, 51 rock samples were taken over the Summit
properties. All but 7 samples were taken from outcrop. The property was
traversed following a similar path taken during the 2010 exploration field
program with focus on following up on the areas where assay values were
elevated. In the process of this follow up work, numerous new locations were
discovered that yielded visual mineralization and oxidation that warranted
sampling.
As the sampling progressed and more and more areas were exhibiting significant
malachite staining and sulphide mineralization, the sampling traverses were then
focused on following any and all apparent trends of this newly found
mineralization. An apparent trend of copper mineralization, all within similar
calc-alkaline rocks, extends an assumed 1200m from the 2010 rock sample that
assayed 0.85% Cu to the 2013 sample #54872 that assayed 0.84% Cu.
Additional favourably mineralized and altered float boulders, 2km north of this
trend, yielded 2 samples of 1.00% Cu and 0.71% Cu respectively. The source
outcrop of these samples remains unknown.
In addition, a single rock sample taken in strongly veined andesitic rocks along
the claims on the eastern side of the Klappan River produced a sample boasting
8.78 g/t Au.
The 2013 field program yielded a significant upside to the property in that
there is what appears to be a new discovery on the Summit D portion of the claim
group and the new corridor of mineralization is open in all directions. To date,
the property has seen minimal exploration activity; however, given the amount of
excitement generated in the area in the past year, coupled with the geological
upside of the location of the mineralization, further work is warranted on the
property to better determine the extent of this new discovery.
Favourable assay results from the 2013 sampling program and within the new
discovery trend are shown below:
Significant Assay Results from 2013 Sampling Program
---------------------------------------------------------------------------
Sample ID Ag (ppm) As (ppm) Cu (ppm) Au (ppm)
---------------------------------------------------------------------------
54855 0.26 65 256 0.12
---------------------------------------------------------------------------
54856 0.69 greater than 10000 242 8.78
---------------------------------------------------------------------------
54861 0.15 2.5 2900 0.006
---------------------------------------------------------------------------
54863 0.18 1.9 9080 0.015
---------------------------------------------------------------------------
54865 0.34 7 3420 0.004
---------------------------------------------------------------------------
54866 0.04 3.4 2150 0.007
---------------------------------------------------------------------------
54867 0.14 2.5 3350 0.018
---------------------------------------------------------------------------
54868 7.37 138 2700 0.007
---------------------------------------------------------------------------
54872 1.04 3.8 8430 0.005
---------------------------------------------------------------------------
54873 0.29 2.1 4480 0.003
---------------------------------------------------------------------------
54874 0.54 3.1 5440 0.005
---------------------------------------------------------------------------
54875 0.38 2.5 4070 0.003
---------------------------------------------------------------------------
54876 0.92 2 1870 0.005
---------------------------------------------------------------------------
54888 0.55 560 18.9 0.152
---------------------------------------------------------------------------
54889 0.81 14.7 9950 0.025
---------------------------------------------------------------------------
54890 0.47 6.3 7100 0.014
---------------------------------------------------------------------------
(To view rock sample photos visit the Company's website at www.pistolbaymining.com.)
Technical information in this news release has been prepared and/or revised by
Mike Magrum, P.Eng., and qualified person as defined in NI 43-101.
About Pistol Bay Mining Inc. (TSX VENTURE:PST)
Pistol Bay Mining Inc. is a diversified Junior Canadian Mineral Exploration
Company with a focus on graphite, precious and base metal properties in North
America.
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.
FOR FURTHER INFORMATION PLEASE CONTACT:
Pistol Bay Mining Inc.
Charles Desjardins
President and Director
604-683-5445
604-687-9631 (FAX)
info@pistolbaymining.com
www.pistolbaymining.com
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