Business
Pacific Bay Drills 3.05 Metres of 9.96 g/t Gold at Atlin Goldfields
Vancouver, British Columbia--(Newsfile Corp. - December 12, 2022) - Mr. David Brett, President &a...
About this update from Pacific Bay Minerals Ltd.
[{"type":"text","content":"Pacific Bay Drills 3.05 Metres of 9.96 g/t Gold at Atlin GoldfieldsVancouver, British Columbia--(Newsfile Corp. - December 12, 2022) - Mr. David Brett, President & CEO, Pacific Bay Minerals Ltd. (TSXV: PBM) (\"Pacific Bay\" or the \"Company\") reports that the Company has now received assay results for the initial drill phase conducted in September 2022, consisting of two diamond drill holes on the Atlin Goldfields Project (\"the Property\") near the town of Atlin in northern British Columbia. Pacific Bay holds an option to acquire up to a 100% interest in the Property from Brixton Metals Inc.The diamond drill holes were designed to test gold mineralization at the Yellowjacket Zone, initially identified in the 1980s as a high grade orogenic (mesothermal) gold system. Yellowjacket was subsequently diamond drilled, bulk sampled and achieved a BC Small Mine Permit in 2009. The mining operation is currently under care and maintenance. Diamond drill hole YJ22-01, with a dip of -50o, intersected the Yellowjacket main zone returning 9.96 g/t gold over 3.05 metres (from 117.96 to 121.01 metres). Diamond drill hole YJ22-02, with a dip of -60o, stopped at 135.85 metres just entering the mineralized zone and did not return any gold values of significance.The two diamond drill holes, collared 30 metres apart were designed to test the Yellowjacket shear/vein system immediately down dip of prior drill holes which returned high grade gold intercepts. Due to difficult ground conditions and drill issues, neither hole reached its final target depth. Hole 2 stopped within the anticipated mineralized zone when the drill rods were stuck and unable to be retrieved. The next phase of diamond drilling will utilize larger core diameters and more aggressive \"mud\" mixtures which will enhance drill performance and core recoveries.\"Although initial drill difficulties were encountered, we are excited by the results of this small drill program,\" said Pacific Bay President & CEO David Brett. \"The Company's aim is to dramatically expand drilling at Yellowjacket in 2023.\" The Yellowjacket occurrence is known to include individual, mineralized quartz veins, that are hosted within pre-existing structures, as well as zones of mineralized vein arrays. Listwanitic altered ultramafic rocks are consistently associated with the gold veins and vein arrays, ...