Pistol Bay's Partners Drilling on Two Optioned Pro

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Posted On: 02/03/2014 3:48:14 PM

Posted By: Doubloon

Pistol Bay's Partners Drilling on Two Optioned Properties

Rio Tinto Commences Drilling on Pistol Bay's
C-5 Uranium Property:

Pistol Bay Mining Inc. (TSX-V: PST) is pleased to report that Rio Tinto Canada Uranium Corporation (“RTCUC”) mobilized a camp crew and drilling commenced on the property in mid- January, 2014.

A total of approximately 2,500m of diamond drilling is proposed for the 2014 C-5 Block winter exploration program with a budget of $1,200,000... Read More Here!

Revolver Resources Drilling on
Summit B Property:

Pistol Bay's partner, Revolver Resources, recently announced the commencement of a drilling program on the Optioned Summit B Property, located in the Iskut area of British Columbia. The initial 1,000 metre drill program has been designed to test a 2km long and 500 metre wide anomaly previously identified in the recent 3D IP survey.

The model reveals a strong 2 km long to 500-metre-wide, northwest-oriented ovoid chargeability anomaly with values reaching over 35 millivolts per second accompanied by low resistivity signatures. Read More Here!

Portland Graphite Property:

Past Producer — the Company hopes to fast track the project back into production

Pistol Bay recently acquired an extensive inventory of historical data resulting from previous exploration and development work carried out on the Portland Graphite property located in Southeastern Ontario. After thorough analysis of the historical data, the Company’s plan — subject to adequate financing —is as follows:

Complete a detailed geophysical survey to better outline stratigraphy, structure and high-grade mineralization.

3D geological and mineralization models constructed based on review of the recently acquired historical data.

Stripping and mapping of former pit in spring 2014 in order to accurately sample and understand controls on mineralization, confirm previous metallurgical work.

First round of drilling focused on high-grade zones on detailed sections — planned summer 2014.

Prioritize areas with highest grade/best widths for 2nd round of drilling.

Initial 43-101 resource estimates, metallurgical, beneficiation studies planned completion in 2014 Q2/Q3 – all with the focus of fast-tracking the highest grading pod towards DFS and production decision.

Extensive marketing of Portland product to past customers as well as all major North American players – Portland product is well-known to the industry.

The Property is situated 1.6 km north of Highway 15 between Kingston and Ottawa. It is road-accessible and consists of private lands covering approximately 429 hectares, located 5.5 km northeast of the community of Portland, Ontario. Power and water are available on-site and rail access is nearby. Read More Here!

For more information, please contact us at 604-683-5445 .