Pegasus Resources Outlines Exploration Plans at Golden, BC
14 Jul 2021
VANCOUVER, British Columbia, July 14, 2021 (GLOBE NEWSWIRE) -- Pegasus Resources Inc. (TSX-V: PEGA; Frankfurt – OQS2, OTC/Pink Sheet symbol SLTFF) (the “Company” or “Pegasus”) reports on upcoming and ongoing activities on two of its high priority gold and copper projects in Nevada and BC.
2021 Proposed work at Millionara:A recently completed hyperspectral remote-sensing survey on the Millionara Property (announced May 18, 2021) has identified several high-priority target areas on the property that appear to share many spectral signal similarities with the nearby Jerritt Canyon Mine and other deposits of the Carlin Trend region of northern Nevada*. The Company has integrated the remote-sensing target areas with the historical exploration database and expect to follow up on the ground in September with a program of mapping and sampling in advance of a fall drill program. The goal of the drilling program is expected to confirm and expand upon the highest priority historical mineralization Hole M88C-3: 19.8 m of 3.63 g/t Au and Hole WILC-4: 21.3 m of 4.05 g/t Au; and to test any new mineralized areas that have been identified in the upcoming work.
2021 Proposed work at Golden Project:At the Golden Project in southeastern BC, crews are planning a follow-up mapping and sampling program in August, followed by a shallow/small diameter drilling program in late-August/early-September. The 2020 work reported by the Company at the three claim blocks which constitute the Golden Project (Gold Mountain, Vertebrae Ridge and Punch Bowl) have identified extensive copper, gold and silver results, and the Company expects to continue to delineate the mineralized zones.
“We are excited to get back to work on the Golden project in BC which has had remarkable assays from both limited drilling and surface sampling in the past. We have begun, and will continue, to employ the latest in mineral exploration technologies on both the Golden project and the recently acquired Millionara project in Nevada to give us the best shots at making a bonafide discovery,” stated Charles Desjardins, CEO of Pegasus.
Millionara Highlights:
Golden Project:
A) Gold Mountain Highlights
B) Vertebrae Ridge Highlights:
C) Punch Bowl Highlights:
Qualified PersonThe scientific and technical information contained in this news release, relating to the Millionara Property, has been reviewed and approved by Neil McCallum B.Sc., P.Geol. of Dahrouge Geological Consulting, and is a “Qualified Person” as defined in NI 43-101.
The scientific and technical information contained in this news release, relating to the Golden Project, has been reviewed and approved by Nathan Schmidt., P.Geo. of Dahrouge Geological Consulting Ltd., and is a “Qualified Person” as defined in NI 43-101.
* The spectral data of nearby advanced-stage mineral deposits or mines are not a direct indication or gold mineralization, nor is the spectral data on the property a direct indication of gold mineralization on the Millionara Property. A Qualified Person has not verified the sampling, analytical, and test data underlying the historical information. Pegasus has assumed that this historical information is accurate and complete in all material aspects and, while the Company has carefully reviewed all the available information, it cannot guarantee its accuracy and completeness.
About Pegasus Resources Inc.Pegasus Resources Inc. is a diversified Junior Canadian Mineral Exploration Company with a focus on zinc and base metal properties in North America. The Company is also actively pursuing the right opportunity in other resources to enhance shareholder value. For additional information please visit the Company at or contact Charles Desjardins at charles@pegasusresourcesinc.com.
On Behalf of the Board of Directors
Charles DesjardinsPresident and DirectorPegasus Resources Inc. 700 – 838 West Hastings StreetVancouver, BC V6C 0A6 PH: 1-604-369-8973 E: info@pegasusresourcesinc.com
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.
Forward Looking Statements Statements included in this announcement, including statements concerning the Company’s plans, intentions and expectations, which are not historical in nature are intended to be, and are hereby identified as, “forward-looking statements”. Forward-looking statements may be identified by words including “anticipates”, “believes”, “intends”, “estimates”, “expects” and similar expressions. The Company cautions readers that forward-looking statements, including without limitation those relating to the Company’s future operations and business prospects, are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements.
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