Pistol Bay Mining uses VTEM plus survey to explore deeper in Confederation Lake Greenstone Belt
Pistol Bay Mining Inc. (TSX.V: PST) is a diversified junior mining Canadian exploration company with a specific focus on zinc and other base metal properties in North America. The company is engaged in the acquisition, exploration, and development of mineral properties and is focusing on 100 per cent optioned properties in Confederation Lake VMS Greenstone Belt, Ontario.
Natasha Frakes:
Hi, I’m Natasha Frakes and you’re watching Market One Minute. Joining us is Charles Desjardins, President, CEO and Director of Pistol Bay Mining. Charles, thank you so much for being here.
Charles Desjardins:
Thanks for having me.
Natasha Frakes:
What projects is the company working on right now?
Charles Desjardins:
The company is presently focused on Confederation Lake, which is in northern Ontario. It’s a volcanic massive sulfide belt, so the sulfides include zinc, copper, gold, and silver. There’s about six historic deposits there as well as a 43-101 deposit that’s about two million tonnes of 8.42 per cent zinc equivalent.
Natasha Frakes:
Okay, and last year, you guys had a VTEM plus survey. Can you tell us about that?
Charles Desjardins:
Yeah, we flew a 2,100 kilometre line survey, airborne survey. What’s interesting about that is the technology is improving so much that it can see a large conductor five to 700 metres deep, and nobody’s ever been able to explore that deep before.
Natasha Frakes:
What’s your financial picture looking like? Are you funded to move forward?
Charles Desjardins:
Yes, we recently received a million-dollar payment from Rio Tinto Canada that was for a payment on a uranium property that we had, that they’ve now bought a hundred per cent. We’re using that money to commence drilling shortly.
Natasha Frakes:
Okay, and when do you expect to start drilling?
Charles Desjardins:
We expect to start drilling in March of 2018.
Natasha Frakes:
Is there anything else that you’d like to talk about?
Charles Desjardins:
I just think it’s a great time for Pistol Bay now that we’ve consolidated this massive sulfide belt. There’s about six historic deposits in the belt, which we have, as well as a 43-101 deposit of a couple million tonnes of 8.42 per cent zinc equivalent, and the VTEM plus survey showed us some ways that we think we can expand that resource significantly.
Natasha Frakes:
Look forward to hearing more about it. Thank you so much for being here.
Charles Desjardins:
Thank you.
This story was provided by Market One Media Group for commercial purposes.