Business
Pacific Bay Brazil Gold Property Update, Trading Resumption
Vancouver, British Columbia--(Newsfile Corp. - April 16, 2025) - Reagan Glazier, President & ...
About this update from Pacific Bay Minerals Ltd.
[{"type":"text","content":"Pacific Bay Brazil Gold Property Update, Trading ResumptionVancouver, British Columbia--(Newsfile Corp. - April 16, 2025) - Reagan Glazier, President & CEO Pacific Bay Minerals Ltd. (TSXV: PBM) (\"Pacific Bay\" or, the \"Company\") reports that the shares of the Company will be reinstated for trading by the TSX Venture Exchange (the \"Exchange\") on commencement of trading, Monday April 21st, 2025. The shares of the Company were halted upon the Company disclosing in its January 7th, 2025 news release that is had signed a letter of intent to acquire a property in Brazil that was deemed to be a Fundamental Acquisition under Exchange policies and therefore a reviewable transaction. The resumption follows provision to the Exchange of certain information, such as a 43-101 compliant Technical Report on the Pereira-Velho gold prospect (the \"Project\") in Alagoas State, Brazil, which report remains subject to further comment and review by the Exchange, and a draft of the definitive option agreement with Appian Capital Advisory (\"Appian\") whereby Pacific Bay proposes to acquire 100% of the Project (the \"Agreement\"). The Agreement is nearing completion and has not yet been signed. Further details of the Agreement and the Project are outlined below. The transaction remains subject to final review and approval from the Exchange.\"Pacific Bay looks forward to completing this transaction as soon as possible and opening an exciting new chapter of gold exploration in Brazil,\" said Pacific Bay President & CEO Reagan Glazier. \"The markets are volatile, but gold has remained strong and I believe this is a great time to be taking on such a promising property.\" The Pereira-Velho Gold ProspectThe following are key findings from the Technical Report on the Project, located in Coité do Nóia, Alagoas, Brazil. Covering 14,596 hectares in the gold-rich Borborema Province, the project benefits from excellent road access and proximity to the commercial hub of Arapiraca, supporting year-round exploration in a tropical climate.The Technical Report, prepared by RBM Serviços Técnicos Ltda., highlights significant gold discoveries driven by past exploration, including soil sampling, trenching, and two drilling campaigns totaling over 6,300 meters. These efforts confirmed gold in quartz veins and pyrite-rich zones, with continu...