|The Fly Lake zone was tested by 4 drill holes by St Joseph Minerals in 1976 over a 50 metre length. Pistol Bay’s VTEM PLUS survey gave a well-defined response on 2 lines, indicating a length of up to 400 metres. Results of the St Joseph drilling include:
DDH 3197-2-79: 0.60 m @ 1.71% Zn, 0.15% Cu, 0.3 g/t Ag
AND 0.27 m @ 2.00% Zn, 0.08% Cu
DDH 3197-1-80: 4.51 m @ 0.53% Zn, 0.06% Cu
includes 0.76 m @ 1.34% Zn, 0.18% Cu
AND 11.5 m @ 1.36% Zn, 0.17% Cu
includes 2.65 m @ 4.30% Zn, 0.21% Cu
includes 1.01 m @ 8.25% Zn, 0.34% Cu
DDH 3197-2-80: 0.30 m @ 2.69% Zn, 0.07% Cu
AND 4.90 m @ 1.51% Zn, 0.06% Cu
AND 0.90 m @ 1.98% Zn, 0.01% Cu
DDH 3197-3-80: 8.90 m @ 1.51% Zn, 0.08% Cu
includes 3.90 m @ 2.53% Zn, 0.06% Cu
includes 1.00 m @ 4.63% Zn, 0.09% Cu
This zone appears to be open along strike and at depth. The Company proposes to drill for extensions of the mineralization, assisted by modelling of the VTEM data.
VTEM Anomalies: There are 9 discrete VTEM PLUS conductive anomalies that do not appear to have had any previous drill testing. Their conductivity varies from very weak to moderate. Most are in areas with little or no outcrop and one is under a lake.
The Company can earn a 100% interest in the Property by issuing an aggregate 500,000 common shares and paying a total of $104,000 over a four-year period. A 1.5% NSR has been granted to the vendor, of which 0.75% may be purchased at any time by the Company for $400,000.
This transaction is subject to TSX Venture Exchange approval. All shares issued will be subject to a hold period expiring four months and one day from the day of issuance.
Technical information in this news release has been provided and/or reviewed by Colin Bowdidge, Ph.D., P.Geo., a Qualified Person as defined in National Instrument 43-101.
About Pistol Bay Mining Inc.
Pistol Bay Mining Inc. is a diversified Junior Canadian Mineral Exploration Company with a focus on zinc and base metal properties in North America. For additional information please visit the Company website at www.pistolbaymininginc.com or contact Charles Desjardins at firstname.lastname@example.org.