Pistol Bay Continues Evaluation of Property Adjacent to Colorado Resources Discovery
May 1, 2013 (Source: Marketwire) Vancouver, BC — Pistol Bay Mining Inc. (TSX VENTURE:PST) reports that it continues to evaluate its 100% owned Summit Lake B property (Kitty Claims) as a result of significant interest received due to the recent Cooper-Gold discovery on Colorado Resources North ROK property in the Iskut area of northern British Columbia. The 1,394 hectare Summit B property is contiguous with the Colorado Resources North ROK property and 20 kilometres northwest of Imperial Metals Red Chris Copper-Gold project. Colorado Resources has announced a work program of step-out drilling. Pistol Bay’s total land package in this area consists of three properties totaling over 8,500 hectares, much of which is adjacent to the Red Chris project.To view the property map click here
Previous geological mapping, rock sampling and soil sampling (2010) on Pistol Bay’s Summit B property has outlined two parallel zones, anomalous in gold and copper, over a length of 500 metres, along a northwest trending fault. These zones are open in both directions. Along the same fault, and 1.5 kilometres to the northwest, cat trenching exposed more copper mineralization. A composite grab sample from this trench returned 0.766% copper.
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The B.C. Minfile description of the Kitty occurrence reports historic work including 9 bulldozer trenches over an area of 170 by 5 metres (B.C. Assessment Report 21416) and historic results from surface grab samples as high as 8.98% copper, 24.5 g/t silver and 0.045 g/t gold. Grab samples as high as 1.61 g/t gold and 0.6% copper have been returned from another showing approximately 50 metres southwest of the bulldozed trench area.
Grab samples are selective in nature and assays may not be representative of all mineralization on the property.
Technical information in this news release has been prepared and/or revised by Mike Magrum, PEng, and qualified person as defined in NI 43-101.
This report contains forward looking statements. Resource estimates, unless specifically noted, are considered speculative. Any and all other resource or reserve estimates are historical in nature, and should not be relied upon. By their nature, forward looking statements involve risk and uncertainties because they relate to events and depend on factors that will or may occur in the future. Actual results may vary depending upon exploration activities, industry production, commodity demand and pricing, currency exchange rates, and, but not limited to, general economic factors. Cautionary Note to US investors: The U.S. Securities and Exchange Commission specifically prohibits the use of certain terms, such as “reserves” unless such figures are based upon actual production or formation tests and can be shown to be economically and legally producible under existing economic and operating conditions.
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.
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