Pacific Bay Drills 3.05 Metres of 9.96 g/t Gold at Atlin Goldfields
Pacific Bay Drills 3.05 Metres of 9.96 g/t Gold at Atlin Goldfields
For Immediate Release. Vancouver, British Columbia, December 12, 2022. Mr. David Brett, President
& CEO, Pacific Bay Minerals Ltd. (TSX Venture: PBM, “Pacific Bay” or the “Company”) reports that the
Company has now received assay results for the initial drill phase conducted in September 2022,
consisting of two diamond drill holes on the Atlin Goldfields Project (“the Property”) near the town of
Atlin in northern British Columbia . Pacific Bay holds an option to acquire up to a 100% interest in the
Property from Brixton Metals Inc.
The diamond drill holes were designed to test gold mineralization at the Yellowjacket Zone, initially
identified in the 1980s as a high grade orogenic (mes othermal) gold system. Yellowjacket was
subsequently diamond drilled, bulk sampled and achieved a BC Small Mine Permit in 2009. The
mining operation is currently under care and maintenance.
Diamond drill hole YJ22-01, with a dip of -50o, intersected the Yellowjacket main zone returning 9.96 g/t
gold over 3.05 metres (from 117.96 to 121.01 metres). Diamond drill hole YJ22-02, with a dip of -60o,
stopped at 135.85 metres just entering the mineralized zone and did not return any gold values of
significance.
The two diamond drill holes, collared 30 metres apart were designed to test the Yellowjacket shear/vein
system immediately down dip of prior drill holes which returned high grade gold inte rcepts. Due to
difficult ground conditions and drill issues, neither hole reached its final target depth. Hole 2 stopped
within the anticipated mineralized zone when the drill rods were stuck and unable to be retrieved. The
next phase of diamond drilling will utilize larger core diameters and more aggressive “mud” mixtures
which will enhance drill performance and core recoveries.
“Although initial drill difficulties were encountered, we are excited by the results of this small drill
program. said Pacific Bay President & CEO David Brett. “The Company’s aim is to dramatically expand
drilling at Yellowjacket in 2023.”
The Yellowjacket occurrence is known to include individual, mineralized quartz veins, that are hosted
within pre-existing structures, as well as zones of mineralized vein arrays. Listwanitic altered ult ramafic
rocks are consistently associated with the gold veins and vein arrays, with the gold most commonly
hosted in gabbro, diabase, basalt and andesite (brittle, crackle fractured rocks) in fault contact with
ultramafic rocks. Free gold mineralization o ccurs as scatted coarse native gold grains associated with
minor pyrite, chromite and mariposite (Morton, J., 2022; Technical Report on the Atlin GoldFields
Project: Sedar/Pacific Bay Minerals Inc.).
The Company is planning to complete detailed 3D imagery of the Yellowjacket Zone in order to best
determine the next phase drill locations. Prior drilling at Yellowjacket has consisted largely of very
shallow drill holes, averaging just over 100 metre depths . The next drill phase will look at gaps in drill
data within the Yellowjacket gold mineralization as well as expanding the zone to depth. The additional
drilling is dependent upon financing.
Quality Assurance/Quality Control (“QA/QC”)
Pacific Bay’s QA/QC procedures include one each of blank, field duplicate, and standard inserted into
the sample stream for every 20 drill core samples. At site, c ore samples are sawed in half, with one
half bagged, zip-tied and delivered to ALS Limited’s laboratory’s facility in Whitehorse, YT. The second
half of th e core is returned to the core box for storage. From Whitehorse, the samples are trucked to
ALS main laboratory in North Vancouver, BC for preparation and analyses. The field inserted
standards (certified reference materials) were purchased from CDN Reso urce Laboratories Ltd. of
Langley, British Columbia.
The majority of the samples are analyzed for gold by fire assay with an atomic absorption finish. Due to
historically reported coarse gold, samples within the quartz breccia fault zone are analysed b y the
metallic screen method, where 1 kg of p ulp is screened to 106 microns , followed by d uplicate 50 g
assays on screen undersize plus an a ssay of entire oversize fraction . All samples will are also
analysed for 41 additional elements by the ICP- MS method.
ALS Limited North Vancouver laboratory conforms with the requirements of ISO/IEC 17025:2017 and
the conditions for accreditation as established by SCC and is recognized as an accredited testing
laboratory. In the laboratory, blanks (analytical and method), coarse duplicates and standard reference
materials are internally inserted in the sequences of client samples. Using these inserted quality
control samples each analytical batch and complete job is rigorously reviewed and validated by ALS
prior to release.
Linda Dandy, P.Geo., Technical Advisor for the Company and a qualified person as defined by National
Instrument 43 -101, has reviewed and approved the technical information contained in this news
release.
About Pacific Bay Minerals Limited
Pacific Bay Minerals is a Canadian mineral exploration company engaged in the acquisition,
exploration, and development of mining projects. Pacific Bay Minerals is focused on advancing its
flagship project, Atlin Goldfields, located in Atlin, British Columbia, with a 56,569 -hectare package of
mineral tenures. The company also holds 100% interest in three mineral properties located in British
Columbia: Wheaton Creek Gold, Haskins Reed, and Weaver Gold. Pacif ic Bay aspires to see its
environmentally responsible exploration and development activities bring meaningful benefits to the
communities in which it operates.
Pacific Bay Minerals Ltd.
Per/
David Brett, President and CEO
(604) 682-2421
pacificbayminerals.com / Twitter / LinkedIn
This news release contains "forward‐looking statements" within the meaning of Canadian securities
legislation. Forward‐looking statements include, but are not limited to, statements with respect to: the
expected size and use of proceeds of the Offering, the timing for and expected completion of a
definitive option agreement, plans relating to exploration of the Property, the magnitude and quality of
the Property, spending commitments, and regulatory approvals (including approvals of the TSXV).
Such statements and information are based on numerous assumptions regarding present and future
business strategies and the environment in which Pacific Bay will operate in the future. Certain
important factors that could cause actual results, performances or achievements to differ materially
from those in the forward‐looking statements include, amongst others, the global economic climate,
dilution, share price volatility and competition, results of exploration activities and development of the
Property, risks associated with the completion of a definitive option agreement for the Property or that
any such agreement may be terminated or the option not exercised, risks relating to regulatory
approvals, and the ability of the Company to complete the Offering as contemplated or at all. Although
Pacific Bay has attempted to identify important factors that could cause actual results to differ materially
from those contained in forward‐looking statements, there may be other factors that cause results not to
be as anticipated, estimated or intended. There can be no assurance that such statements will prove to
be accurate, as actual results and future events could differ materially from those anticipated in such
statements. Accordingly, readers should not place undue reliance on forward‐looking statements.
Pacific Bay does not undertake to update any forward‐looking statements, except in accordance with
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