Pistol Bay Acquires High-Grade Zinc-Copper Deposits and Becomes Dominant Land Holder in the Prolific Confederation Lake VMS Belt
ZURICH, SWITZERLAND / ACCESSWIRE / October 19, 2016 / Today, Pistol Bay Mining Inc. (PST.V) announced the acquisition of all properties and deposits from AurCrest Gold Inc. and Glencore in the Confederation Lake Greenstone Belt southeast of Red Lake in Ontario, Canada.
The property package (5'136 hectares) covers a 31 km length of the Confederation Lake Greenstone Belt and includes 2 substantial zinc-copper deposits and a number of zones which are in need of follow-up drilling. In combination with the already optioned, near-by Dixie and Dixie 3 Properties, Pistol Bay now controls 7'050 hectares containing most of the significant mineral occurrences over 43 km of the total 60 km length of the Confederation Lake Greenstone Belt.
Charles Desjardins, President of Pistol Bay, stated:
"Together with the Dixie and Dixie 3 properties that Pistol Bay already holds under option, this acquisition positions the Company as the dominant land holder in a very prolifically mineralized VMS-rich belt. Our holdings include the largest zinc-copper-silver deposit in the area, the second-largest VMS deposit remaining (Fredart Lake Property), and a portfolio of exploration targets ready for follow up drilling. Pistol Bay proposes an ambitious exploration program that will not only pursue existing targets and known VMS deposits, but will use the latest airborne geophysical survey technologies to explore the whole area to a greater depth than was possible in the past."
Pistol Bay is engaged in compiling data and re-appraising the AurCrest property with a view to planning an aggressive exploration program that will generate new drill targets, as well as follow up existing target areas and known deposits.
The full report can be accessed with the following links:
English (PDF):
http://rockstone-research.com/images/PDF/PistolBay3en.pdf
English (web version):
http://rockstone-research.com/index.php/en/research-reports/1890-Pistol-Bay-acquires-high-grade-zinc-copper-deposits-and-becomes-dominant-land-holder-in-the-prolific-Confederation-Lake-VMS-Belt
German (PDF):
http://rockstone-research.com/images/PDF/PistolBay3de.pdf
Disclaimer: Please read the full disclaimer within the full research report as a PDF as fundamental risks and conflicts of interest exist.
SOURCE: Rockstone Research
