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Pacific Bay Airborne Survey Reveals Magnetic Anomalies at Wheaton Creek Gold Property
Vancouver, British Columbia--(Newsfile Corp. - August 18, 2021) - David H. Brett, President an...
About this update from Pacific Bay Minerals Ltd.
[{"type":"text","content":"Pacific Bay Airborne Survey Reveals Magnetic Anomalies at Wheaton Creek Gold PropertyVancouver, British Columbia--(Newsfile Corp. - August 18, 2021) - David H. Brett, President and CEO, Pacific Bay Minerals Ltd. (TSXV: PBM) (\"Pacific Bay\" or the \"Company\") is pleased to announce that Precision GeoSurveys Inc. (\"Precision\") has completed the airborne magnetic survey (the \"Survey\"), announced on June 16, 2021, over the Company's 100% owned Wheaton Creek Gold property (the \"Property\") in Northern British Columbia. The survey has successfully outlined distinctive magnetic features that will assist the drill targeting in the upcoming program.From the Company's VP of Exploration, Sebastien Ah Fat, \"We are very pleased to find that the Survey has successfully confirmed our initial theory that a well-defined ultramafic contact boundary exists on the Property. The discovery of thick zones of magnetic lows that abruptly transition from magnetic highs may be associated with liswanite mineralization. Listwanite, being formed by the carbonization of serpentinized ultramafic rock, is a key alteration indicator commonly associated with mesothermal quartz carbonate gold deposits and we hope to confirm this via our future drilling programs at Wheaton Creek Gold.\"The Survey successfully identified magnetic high anomalies of the Cache Creek Ultramafic Complex and distinctive contact fault boundaries which are prospective for hydrothermal deposition. Furthermore, a thick, northwest-trending, magnetic low anomaly adjoining the Cache Creek Ultramafic Complex to the east may correlate with carbonization of serpentinized ultramafic rock known as liswanite. Listwanite is a distinctive alteration feature commonly associated with lode gold, quartz carbonate gold deposits. These findings reinforce the thesis that Wheaton Creek bears many geologic similarities to the Atlin Mining Camp where the source of the placer gold was found to be at or near fault boundaries of ultramafic and sedimentary rock.Figure 1: Wheaton Creek Gold, Total Magnetic Intensity Survey Results with Interpreted Fault BoundariesTo view an enhanced version of this graphic, please visit:https://orders.newsfilecorp.com/files/3362/93395_c890000fe49298fd_002full.jpgFigure 2: Wheaton Creek Gold, Calculated Vertical Gradient Survey Results with Interpreted Carbonization Alteration ...