Pacific Bay Intersects 2 Grams Per Tonne Gold and 13.71 g/t Silver over 4.61 Metres at Weaver Lake Gold Property
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Pacific Bay Intersects 2 Grams Per Tonne Gold and 13.71
g/t Silver over 4.61 Metres at Weaver Lake Gold Property
For Immediate Release. Vancouver, British Columbia, August 12, 2019. David
H. Brett, President and CEO, Pacific Bay Minerals Ltd. (TSX Venture: PBM,
“Pacific Bay” or the “Company”) reports that the first hole of a two-hole, 236
metre drill program at the Company’s 100% owned Weaver Lake gold property in
the New Westminster Mining Division in southern BC returned assays of 2 g/t
gold and 13.71 g/t silver over 4.61 metres. These results represent core lengths
only, as the true width of the structure has not yet been determined. The second
hole returned no significant assays.
The 2018 holes were drilled to test the extension of the high grade gold and
silver quartz – carbonate shear hosted veins intersected in a 1975 drilling
program and subsequent underground workings. Drill hole 18-01 was drilled at
an 010o azimuth for 121.92 meters and it intersected a package of variably
altered tuff and hornfels tuff, including an interval of brecciated quartz-carbonate
rhodocrosite veins from 19.6 meters to 40 meters in which the interval from 27.11
metres to 32.01 metres returned 2.0 g/t Au and 13.71 g/t Ag.
According to project geologist David Bridge, P.Geo, “Previous drilling of the
Weaver Lake shear hosted gold-silver-quartz-carbonate +/- rhodocrosite
vein mineralization in 1975 returned 0.485 oz/ton gold and 2.68 oz/ton silver over
1.52 metres. This mineralization is in the vicinity of the portal which was
constructed later. Drilling in 1996 to the east of the portal tested a possible
parallel zone or faulted offset zone which returned 8.61 g/t gold and 46.2 g/t
silver over 3.05 meters. The shear hosted gold-silver mineralization on the
Weaver Property is hosted by faulted Lower Jurassic Harrison Lake Formation
volcanics and volcaniclastic sediments which have hornfels overprinting from an
Oiligocene to Miocene granodiorite intrusion. The shear hosted mineralization
may have formed by strain refraction and shearing around the buried intrusion
as evidenced by multiple sheeted zones of fractures in the vicinity of the trace
mineralization seen during the 2018 program. The higher grade gold and silver
mineralization may have formed from degassing of the second boiling
granodiorite intrusion as it cooled. These granodiorite stocks are also related to
the gold mineralization to the southeast of Harrison Gold Project (also known as
Pacific Bay Minerals Ltd.
120 – 601 W. Cordova Street
Vancouver, BC, V6B 1G1
Phone: 604-682-2421
14517245.1
the Abo Project) located 2km north of Harrison Hot Springs and approximately 9
km east of the Weaver Lake Gold Property.”
The Weaver Lake property is located in southern BC and is highly accessible via
highway and all weather roads and can be worked on year-round.
“We are encouraged by these results and at Weaver and believe there is
potential for further discovery,” said Pacific Bay CEO David Brett. “The Company
hopes to complete further drilling at Weaver in the future.”
The technical disclosures in this news release were reviewed and approved by
David Bridge, P.Geo., a Qualified Person, as defined by National Instrument 43-
101.
Pacific Bay Minerals Ltd.
Per/
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.