- Pacific Bay Minerals (PBM) has identified new drill targets at the company’s Wheaton Creek Gold Property
- The property contains 3,019 hectares of mineral tenures
- The new drill targets were identified after interpreting results of airborne magnetic, VLF, and radiometric surveys
- The process identified several targets that are suitable for drilling
- The company plans to proceed with the diamond drilling program in 2022
- Pacific Bay Minerals is unchanged, trading at $0.10 at 10:32 am ET
Pacific Bay Minerals (PBM) has identified new drill targets at the company’s Wheaton Creek Gold Property.
The property, containing 3,019 hectares of mineral tenures is 100-per-cent owned by the company and located in Northern British Columbia.
The new drill targets were identified after interpreting the results of airborne magnetic, VLF, and radiometric surveys.
The Vancouver-based company has also refined its current drill program.
The objective of the analysis was to produce a 3D susceptibility model and identify geophysical areas of interest with potential for gold mineralization. The process identified several targets that are suitable for drilling.
The GAI-10 target has a number of factors that point to the increased probability of gold mineralization, making it the highest priority area for future exploration. Additionally, GAI-10 represents the area within which the 1986 drillhole is found. The company calls the findings encouraging as DDH 86-1 intercepted 5.38 grams per tonne of gold over 3.05 metres with visible gold observed and suggests the area may produce further positive drill results.
“Our initial strategy to twin the 1986 drillhole is strongly supported by the interpretation of the magnetic data. The radiometric anomaly in conjunction with the coincident high Potassium/Thorium ratio, the east-west magnetic lineation, and observed quartz vein structures at surface gives us increased confidence with launching a strategic exploration program on Wheaton Creek starting in GAI-10,” said Pacific Bay VP of Exploration Sebastien Ah Fat.
Pacific Bay has also entered into a communications and engagement agreement with the Tahltan First Nations in an effort to build a strong relationship with the local community while progressing with work on the Wheaton Creek Gold Property.
The company plans to proceed with the diamond drilling program in 2022.
Pacific Bay Minerals is unchanged, trading at $0.10 at 10:32 am ET.