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Pistol Bay readies geophysics, resource update at Ontario’s Confederation Lake

by Greg Klein | April 12, 2017

Taking to the skies to probe deeper underground, the first airborne survey in 20 years will bring state-of-the-art technology to Pistol Bay Mining’s (TSXV:PST) Confederation Lake greenstone belt land package. Geotech Ltd will carry out an initial 1,128-line-kilometre VTEM Plus campaign, the first phase of a belt-scale helicopter-borne program. That’s part of a multi-disciplinary approach planned over the next few years for Pistol Bay’s portfolio, at 9,450 hectares the largest holdings in Confederation Lake.

Pistol Bay readies geophysics, resource update at Ontario’s Confederation Lake

VTEM Plus penetrates deeper and offers better conductor resolution than previous VTEM systems, the company stated.

“We will essentially be exploring a new depth slice of this greenstone belt, with its numerous VMS deposits and occurrences, that has never been explored before,” said president Charles Desjardins. “This newer technology increases the chances of potentially finding a new zinc-copper-silver deposit like the Arrow zone or the former producing South Bay mine.”

Last week Pistol Bay announced an update had begun on Arrow’s 2007 resource, one of the portfolio’s historic estimates.

The company’s currently financed with a $548,436 private placement that closed last month and a recent payment of $750,000 from a Rio Tinto NYSE:RIO subsidiary as part of its 100% option on Pistol Bay’s uranium properties in Saskatchewan’s Athabasca Basin.

Read more about Pistol Bay Mining.

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