Business
Pegasus Provides Corporate Update
(TheNewswire) Vancouver, B.C. – TheNewswire - ...
About this update from Pegasus Resources Inc
[{"type":"text","content":"Pegasus Provides Corporate Update\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Vancouver, B.C. –\n \n \n TheNewswire -\n \n \n January\n \n \n 06,\n \n \n 2021 -\n \n \n Pegasus Resources Inc.\n(TSXV:PEGA\n \n \n )\n \n \n ;\n \n \n (\n \n \n Frankfurt-OQS2\n \n \n )\n \n \n ,\n \n \n (\n \n \n OTC:SLTFF) (“Pegasus” or the “Company”)\n \n \n is pleased to update shareholders on the Company’s\nactivities and properties.\n \n \n \n \n The Company is looking forward to what it expects to be\nan exciting 2021.\n \n \n \n \n \n \n Pegasus has a 100% interest in properties near Golden,\nBritish Columbia and in Confederation Lake, Ontario. The Confederation\nLake properties are optioned out to Infinite Ore |Cor\n \n \n \n \n \n \n 1.\n \n \n GOLDEN,\nBritish Columbia\n \n \n \n \n \n \n The Company anticipates final results from its fall\n2020 ground program shortly, which will be compiled and reported upon.\nDuring the fall of 2020, a brief program of property mapping and\nsampling was completed at both Gold Mountain and Vertebrae Ridge, with\na site visit completed at the Punch Bowl claims.\n \n \n \n \n \n \n A.\n \n \n Gold\nMountain\n \n \n \n \n \n \n Approximately 50 km north of Golden, BC and just north\nof Highway 1, the Gold Mountain claims cover the historic Grizzly\noccurrence where gold and silver are hosted within polymetallic quartz\n/ carbonate veins. Discovered in the 1930’s, at least one adit and\ntwo small open cuts were developed on the prospect. During the\n1980’s two showings were discovered, which are considered part of a\n600+ m long trend of quartz veins and stockworks.\n \n \n \n \n Exploration during 1982 at the North Showing, near the\nadit, identified a 1 m wide quartz vein, which returned a grab samples\nof\n \n \n 4.87 g/t Au, 647 g/t Ag and\n1.89% Cu.\n \n \n \n \n At the South Showing, five veins are exposed by\ntrenches within a zone about 4 m wide, a peak value of\n \n \n 30.3 g/t Au, 123.1 g/t Ag and 32.54% Cu\n \n \n was returned.\n \n \n \n \n Eight shallow back pack style drill holes were\ncompleted in 1984, though poor recoveries were noted, results\ninclude:\n \n \n \n \n - 4.04 m - 59.04 g/t Au, 6,863.1 g/t\nAg, 16.9% Cu, and 8.95% Pb\n \n \n \n \n - 4.50 m - 7.89 g/t Au, 942.2 g/t Ag,\n2.3% Cu, an...