Pistol Bay Mining Inc (2) (C-PST) (OTC-SLTFF) - News Release
Pistol Bay starts 3,500m drill program at Confederation
2018-03-22 03:15 PT - News Release
Shares issued 47,697,648
PST Close 2018-03-21 C$ 0.055
Mr. Charles Desjardins reports
PISTOL BAY COMMENCES DRILLING IN CONFEDERATION LAKE
Pistol Bay Mining Inc. has commenced its planned 3,500-metre diamond drilling program on its 51,000-acre Confederation Lake property in Northwestern Ontario.
The first three drill holes, of approximately 500 metres each, will test the Arrow zone, and the core will be used for preliminary metallurgical testing. The Arrow zone is a volcanogenic massive sulphide (VMS) deposit, which was the subject of a National Instrument 43-101 report in 2017 that presented an inferred mineral resource of 2.1 million tonnes grading 5.78 per cent zinc, 0.72 per cent copper, 0.60 gram per tonne (g/t) gold and 19.5 g/t silver (8.42 per cent zinc equivalent).
A selection of drill intersections from previous diamond drill holes on the Arrow zone by Noranda Exploration in 1997/1998 and Tribute Minerals Inc. in 2004 to 2007 is shown in the associated table.
DDH From To Core True Cu Zn Ag Au
ID (m) (m) length width (%) (%) (g/t) (g/t)
GL1997-02C 451.80 456.10 4.30 3.51 3.07 27.16 50.4 2.105
GL1997-04 469.00 474.80 5.80 4.25 1.61 9.36 37.0 0.818
GL2004-08 325.00 335.20 10.20 7.13 0.95 8.50 25.3 1.018
GL2006-18 513.50 518.90 5.40 3.84 0.66 18.71 25.6 0.446
GL2006-27 304.90 309.05 4.15 3.20 0.59 10.59 19.6 0.730
GL2006-39 338.83 343.10 4.27 3.00 1.21 18.54 8.2 0.413
GL2007-50 526.50 537.60 11.10 7.99 0.92 2.45 15.1 0.496
GL2007-53 560.35 567.40 7.05 5.39 1.20 4.28 25.4 0.834
Following drilling on the Arrow zone, the drill will move to the Fredart zone, which was drilled in the 1960s and contained copper mineralization of VMS type with associated silver values. Only the first four holes were assayed for gold.
The technical information in this news release was prepared and/or reviewed by Dr. Colin Bowdidge, PhD, PGeo, a qualified person as defined in National Instrument 43-101.
About Pistol Bay Mining Inc.
Pistol Bay Mining is a diversified junior Canadian mineral exploration company with a focus on zinc and base metal properties in North America. The company has also created a subsidiary for resource-driven blockchain applications.
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