Pacific Bay Minerals Ltd.: Remarkable Gold Anomaly Enhances New Pacific Bay Property; Rare Earth Values Also Anomalous
01 Marzo 2011 - 3:00PM
Marketwired
David H. Brett, President and CEO, Pacific Bay Minerals Ltd. (TSX
VENTURE: PBM) (the "Company"), reports that mineral claims staked
by Pacific Bay in northern BC cover the highest gold silt sample
site (7,086 parts per billion Au) reported in the recently-released
Geoscience B.C. re-analysis of over 10,000 samples from across the
northern part of the province. This same site also has a reportedly
high silver in silt geochemical value (4974 ppm Ag). The unexplored
7,920 hectare Sphinx Mountain Property was originally staked in
February 2010 to cover several high Rare Earth geochemical sample
sites reported in previously-released B.C government stream
sediment survey results.
The property is located on Sphinx Mountain near the junction of
the Dease River with Provincial Highway 37, between Dease Lake and
Cassiar. The geological setting and silt geochemical results
indicate good exploration potential for intrusive-hosted gold
mineralization. Another junior explorer, Serengeti Resources,
recently announced the staking of a large claim block south of the
Sphinx Mountain Property to cover another silt sample site
measuring 1,702 ppb Au, the third highest in the data-package made
public during the 2011 AMEBC Exploration Round-Up in Vancouver.
"It's remarkable that this extremely high gold-in-silt value has
come to light after we acquired the property for what we thought
was a strong Rare Earth anomaly," said Pacific CEO David H. Brett.
"The gold potential has now taken top priority and we look forward
to investigating the occurrence during our spring-summer
exploration campaign in northern BC."
The technical information in this news release was reviewed and
approved by Doug Blanchflower, P.Geo., a Qualified Person as
defined by National Instrument 43-101.
Pacific Bay Minerals Ltd.
David H. Brett, MBA, President & CEO
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Pacific Bay Minerals Ltd. Investor Relations (604)
682-2421 or Toll Free: 1-800-670-6570 (Canada) Toll Free:
1-800-665-5101 (USA) (604) 682-7576 (FAX)
www.pacificbayminerals.com
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