advanced exploration stage zinc copper ... - pistol … bay fact sheet... · pistol bay mining inc....
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Pistol Bay Mining Inc. 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% optioned properties in Confederation Lake VMS Greenstone Belt, Ontario:
Garnet Lake/Arrow Zone Zinc-Copper Claims
Dixie 17, 18, 19, 20 and Dixie 3 Zinc-Copper Claims
Fredart, Copperlode, Ben Lake, Joy and Caravelle Zinc-Copper Claims
Uranium in Athabasca Basin in Northern Saskatchewan, optioned by Rio Tinto
Uranium in Saskatchewan/Zinc-Copper in Ontario
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Pistol Bay Mining Property Map—Confederation Lake Group
Zinc-Copper
Uranium
Advanced Exploration Stage Zinc-Copper Properties in Confederation Lake and Uranium in Athabasca Basin
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Confederation Lake Greenstone Belt Zinc-Copper Property
Pistol Bay Options Additional Claims in Red Lake, Ontario
Pistol Bay has acquired all the mining claims held by AurCrest in the Confederation Lake VMS greenstone belt southeast of Red
Lake, Ontario. The AurCrest property comprises 108 mining claims with a total of 321 claim units with a nominal area of 5,136 ha
(12,700 acres) and covers a 31 km length of the Confederation Lake greenstone belt. This area includes two substantial mineral
deposits and a number of mineralized drill intersections that are in need of follow-up drill testing.
The Confederation Lake properties consist of 108 claims over 5,136 ha with assessment work reserves of $1.7 million, sufficient to
maintain all contiguous claims for 13 years.
3% Zn equivalent cutoff: Indicated Resource 2,071,000 tonnes @ 5.92% Zn, 0.75% Cu, 21.1 g/t Ag and 0.58 g/t Au
Plus Inferred Resource 120,550 tonnes @ 2.60% Zn, 0.56% Cu, 18.6 g/t Ag and 0.40 g/t Au
5% Zn equivalent cutoff: Indicated Resource 1,762,000 tonnes @ 6.75% Zn, 0.79% Cu, 22.3 g/t Ag and 0.61 g/t Au
Plus Inferred Resource 51,630 tonnes @ 3.86% Zn, 0.79% Cu, 23.9 g/t Ag and 0.58 g/t Au
10% Zn equivalent cutoff: Indicated Resource 633,000 tonnes @ 14.3 Zn, 1.11% Cu, 31.7 g/t Ag and 0.85 g/t Au
The other substantial deposit is the Copperlode “A” or Fredart Zone. It has a historical mineral resource of 425,000 tonnes grading
1.56% copper (non-compliant NI 43-101 and has not been reviewed by a Qualified Person). The zone was drill-tested to a depth of
approximately 200 metres over a length of 350 metres, and was reported as being open at depth. The area was also explored for
molybdenum in the 1970’s and samples containing up to 1.46% Mo were reported.
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Highlights of the AurCrest Confederation Lake Property
The Confederation Lake Belt is Dominated by Zinc-Copper-Silver+Gold VMS-Type Massive Sulphide Deposits
MINERAL DEPOSITS AND OCCURRENCES OF THE CONFEDERATION LAKE BELT
Deposit Tonnes Zn % Cu % Ag g/t Au g/t Source
South Bay (Mined 1971-1981) - actual re-
covered grades
1,450,000 11.06 1.80 72.7 MNDM
Dixie 18 99,800 12.50 0.50 Noranda, historic
Dixie 17—DDH example, 9.5m @ 7.34 1.40 Noranda
Dixie 19—DDH example, 3.55m @ 6.33 1.50 Noranda
Dixie 20—DDH example, 2.5m @ 10.99 Tribute
Dixie 3 82,600 10.00 1.00 Noranda, historic
Copperlode Main Zone (A) 386,200 1.56 33.6 Westminer, historic
Big Falls/Joy Zone—DDH example, 3.55m @ 0.17 4.01 0.5 Noranda
Bowerman 22—DDH example, 1.25m @ 1.80 MNDM
Garnet Lake/Arrow Zone—indicated plus
inferred
2,071,000
120,552
5.92
2.60
0.75
0.56
21.1
18.6
0.58
0.85
Tribute 43-101
3% Zn eq cutoff
Fredart Moly, grab sampling (1951) MNDM 0.28% MoS2
VMS deposits tend to occur clustered in districts. It is not unheard of to identify up to two dozen deposits in an area of several tens of square kilometers.
This makes known VMS districts good hunting grounds for new discoveries.
VMS deposits are particularly prevalent in Canada. Out of the approximately 800 known VMS deposits in the world, there are close to 350 in Canada.
Example of a world class VMS deposit: Noranda
The Noranda District contains the most thoroughly studied and documented volcanogenic massive sulfide
(VMS) deposits of any Archean volcanic complex. Over an 85-year period, 20 economic VMS deposits have
been discovered by prospecting, geological, geophysical and lithogeochemical techniques. The Noranda District
is also host to 19 small, orogenic gold deposits. These deposits only account for a small amount of gold produc-
tion. Noranda’s Horne VMS deposit is the top producer, with almost ten million ounces of gold production to
date.
Pistol Bay Mining Inc.
#700 - 838 W. Hastings Street
Vancouver, BC V6C 0A6
Contact: Dave Bissoondatt
T: 604.369.8973
Rio Tinto Continues Exploration on Pistol Bay’s C-5 Uranium Property, Saskatchewan
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Share Capital (February 16, 2017)
Issued……………………………….42,082,648
Warrants…………………………....24,315,624
Options…………………………….....3,515,000
Fully Diluted…………………….…..69,913.272
Directors and Management Team
Charles Desjardins—President & CEO, Director
Doug McFaul—Director
Dave Bissoondatt—Director / Officer—Vice President of Operations
Glen MacDonald—Director
The “C Blocks” are located in the world’s most prolific uranium district known as the Athabasca Basin. Pistol Bay is fortunate to have
an arrangement with Rio Tinto on these claim blocks. Rio Tinto has entered into the final stage of the option agreement wherein
they have earned 75% interest. They recently provided Pistol Bay with a $750,000 cash injection and have the option to acquire the
remaining 25% interest by paying Pistol Bay one of the following payments: i) $1.5M on or before 31 December 2017; ii) $2M on or
before 31 December 2018; or iii) $2.25M on or before 31 December 2019. Pistol Bay will retain a 5% net profits interest.
To date, Rio Tinto has completed 12 diamond drill holes totaling 6,104m on the C5 property and carried out a gravity survey. The
2017 diamond drilling program was scheduled to commence on January 20th. Rio Tinto intends to drill between 4 and 6 diamond
drill holes for a program total of approximately 2,600 metres, targeting uranium mineralization at the conformity between the Atha-
basca Basin sediments and the older basement rocks, and in the basement itself.
The C4, C5 and C6 properties are road-accessible, an important feature that allows exploration funds to be used much more
effectively than more remote, fly-in projects. The 75km all-weather haul road from the McArthur River mine to Cameco’s Key Lake
mine/mill passes approximately 5km from the properties.