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Pegasus Resources Commences Work Program at Golden Project, BC
VANCOUVER, British Columbia, Aug. 11, 2021 (GLOBE NEWSWIRE) -- Pegasus Resources Inc. (TSX-V: PEGA; Frankfurt – OQS2, OTC/Pink Sheet symbol SLTFF) (the “Company
About this update from Pegasus Resources Inc
[{"type":"text","content":" VANCOUVER, British Columbia, Aug. 11, 2021 (GLOBE NEWSWIRE) -- Pegasus Resources Inc. (TSX-V: PEGA; Frankfurt – OQS2, OTC/Pink Sheet symbol SLTFF) (the “Company” or “Pegasus”) is pleased to report the commencement of work at its high priority gold and copper Golden project in British Columbia. 2021 Proposed work at Golden Project: At the Golden Project in southeastern BC, crews have started a follow-up mapping and sampling program which will be followed by a small diameter backpack drill-program. The 2020 work reported by the Company at the three claim blocks which constitute the Golden Project (Gold Mountain, Vertebrae Ridge and Punch Bowl) have identified extensive copper, gold and silver results, and the Company expects to continue to delineate the mineralized zones. “This is an exciting time for Pegasus shareholders. The Pegasus geological team has advanced our Golden Project to the point we now have many high priority areas to focus our mapping, sampling and drilling efforts on,” stated Charles Desjardins, CEO of Pegasus. A) Gold Mountain Highlights Early-stage gold/silver property located approximately 50 km NW of Golden, BC, just north of Highway 1. The property is comprised of two mineral claims over 802 ha and encompasses the historic Grizzly occurrence featuring gold and silver hosted within polymetallic quartz/carbonate veins. Exploration during 1982 at the North Showing, near the adit, identified a 1 m wide quartz vein, which returned a grab sample of 4.87 g/t Au, 647 g/t Ag and 1.89% Cu. At the South Showing, five veins are exposed by trenches within a zone about 4 m wide, a peak value of 30.3 g/t Au, 123.1 g/t Ag and 32.54% Cu was returned. Eight shallow back pack style drill holes were completed in 1984, though poor recoveries were noted, results include: 4.04 m - 59.04 g/t Au, 6,863.1 g/t Ag, 16.9% Cu, and 8.95% Pb 4.50 m - 7.89 g/t Au, 942.2 g/t Ag, 2.3% Cu, and 5.26% Pb 2020 work identified the following: Polymetallic mineralization over 600 to 700 m strike; and High grades of silver/gold with 4 samples returning from 1,000 to 6,670 g/t Ag, 3 of which also returned Au values ranging from 2.14 to 7.44 g/t B) Vertebrae Ridge Highlights: Early-stage copper/polymetallic property located approximately 30 km NW of the Gold Mountain property and 80 km NW of Golden, BC. The property is comprised of four mineral claims...