Business
Wheaton Creek Gold Property Highlights Include 4.9 gpt Gold Drill Intercept Over 3.05 Metres, Highly Anomalous Gold Soil Values
Vancouver, British Columbia--(Newsfile Corp. - September 16, 2019) - David H. Brett, President...
About this update from Pacific Bay Minerals Ltd.
[{"type":"text","content":"Wheaton Creek Gold Property Highlights Include 4.9 gpt Gold Drill Intercept Over 3.05 Metres, Highly Anomalous Gold Soil ValuesVancouver, British Columbia--(Newsfile Corp. - September 16, 2019) - David H. Brett, President and CEO, Pacific Bay Minerals Ltd. (TSXV: PBM) (\"Pacific Bay\" or the \"Company\") reports that a review of historical exploration data at the Company's 100% owned Wheaton Creek Gold Property south of the Turnagain River near Dease Lake in northern BC (formerly called the Boulder Property), has highlighted a number of significant and encouraging findings, including a 1986 drill hole (DDH 86-1) that cut 4.9 gpt gold over 3.05 metres. Additional drilling is warranted over a 1.5 kilometre zone prospective for both high grade and low grade bulk tonnage gold mineralization. The Wheaton Creek Gold Property comprises 2,850 hectares of mineral claims underlying the Boulder Gold Placer operation along Wheaton Creek (the \"Property\"). BC's largest existing gold nugget, the 52 Troy Ounce Alice Shea Nugget, was found in 1937 less than 2 km upstream of the Property, along the Wheaton Creek drainage. Based on analysis of the gold grains found in the mined placer gold, previous geologists working on the Property have concluded that the source of the gold is originating in the underlying bedrock within the Wheaton Creek drainage system. To date, the source of the local placer gold has yet to be discovered. The gold mineralization is thought to be related to a transitional epithermal gold system.Work carried out by Supreme Resources Ltd. in 1986 outlined highly annomlalous soil geochemistry, with values ranging up to 32,300 ppb Au. Trenching of the most anomalous areas resulted in bedrock assays up to 11.25 gpt Au. Supreme Resources completed three holes to test the soil anomalies and trenching results. Hole 86-1 encoutered the above reported 4.9 gpt Au over 3.05m as well as intercepts of 1.71 gpt Au & 3.14 gpt Au over 2.43 m. The style of mineralization is described as very similar to the Mother Lode model in California, characterized by enechelon quartz veins, silica-ankerite alteration zones and ultrabasic intrusions. Quartz mariposite outcrops on the Property have been found to be gold bearing, but with the limted prospecting and geological work so far, targets have yet to be determined. The best gold values in the dr...