CORRECTION FROM SOURCE-Pacific Bay Minerals Ltd.: Remarkable Gold Anomaly Enhances New Pacific Bay Property; Rare Earth Values A
01 Marzo 2011 - 6:05PM
Marketwired
Pacific Bay Minerals Ltd. (TSX VENTURE: PBM) -
CORRECTION: SILVER VALUE SHOULD BE IN PARTS PER BILLION, NOT
PARTS PER MILLION
David H. Brett, President and CEO, Pacific Bay Minerals Ltd.
(TSX VENTURE: PBM) (the "Company") wishes to correct a significant
clerical error in the silver value reported the Company's earlier
news release of today's date regarding mineral claims staked by
Pacific Bay in northern BC, which inadvertently indicated 4,974
parts per million silver instead of the correct amount of 4,974
parts per billion. The statement: "This same site also has a
reportedly high silver in silt geochemical value (4,974 ppm Ag)"
should be replaced with "This same site also has a reportedly high
silver in silt geochemical value (4,974 ppb Ag)". All other
information contained in the news release is correct and
accurate.
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 ppb 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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