Latest news from company
"Pistol Bay Mining Inc. has planned to commence additional geophysical studies from the 2017 VTEM survey.
Pistol Bay will be conducting a more comprehensive interpretation of the 2100 line km VTEM survey done by Geotec in 2017. To date, only a small percentage has been interpreted. We plan to focus this work on the Fredart-Gerry Lake trend, especially the number one priority target generated from the survey on the north end of the Fredart Lake trend.
This Fredart historic mineral resources of 386,000 t grading 1.56% copper and 33.6 g/t silver (non-compliant NI 43-101). Drill-tested to a depth of approximately 200 metres, reported as being open at depth. As well the 2017 2100 line km VTEM survey identified four conductors with lengths of 400, 850, 900 and 950 metres over a length of 6.5 km.
The second priority target will be north of the 43-101 compliant Arrow Zone on the Garnet property. This Arrow Zone has historic resources as follows: 3% Zn equivalent cutoff:
Indicated Resource 2,071,000 tonnes @ 5.92% Zn, 0.75% Cu, 21.1 g/t Ag and 0.58 g/t Au Plus Inferred Resource 120,550 tonnes @ 2.60% Zn, 0.56% Cu, 18.6 g/t Ag and 0.40 g/t Au
5% Zn equivalent cutoff:
Indicated Resource 1,762,000 tonnes @ 6.75% Zn, 0.79% Cu, 22.3 g/t Ag and 0.61 g/t Au Plus
Inferred Resource 51,630 tonnes @ 3.86% Zn, 0.79% Cu, 23.9 g/t Ag and 0.58 g/t Au
10% Zn equivalent cutoff: Indicated Resource 633,000 tonnes @ 14.3 Zn, 1.11% Cu, 31.7 g/t Ag and 0.85 g/t Au
Pistol Bay had acquired additional ground by staking new claims covering previously unknown anomalies detected by the 2017 2100 line km VTEM Plus(TM) airborne survey. The new claims cover a continuous magnetic anomaly that runs for 6.5 kilometres between the existing Joy and Fredart claim groups. The total strike length of this anomaly, which encompasses the historic Joy and Fredart claim groups, is now approximately 22 kilometres. There are also numerous cases where the new survey has detected parallel conductors, or extensions of known conductors.
Pistol Bay will also like to report that it has decided that it will not proceed with optioning the Fredart-Gerry Lake properties in Red Lake, Ontario to Belmont Resources.(see NR September 04, 2019)
Mutually agreed by both parties, Pistol Bay have decided to keep the assets in the company and will continue to do the work necessary in getting them ready for the next base metal cycle. Pistol Bay will also be concentrating on area with gold potential which historically have had little focus."
In other words, DON'T HOLD YOUR BREATH
