investors > press releases
Pacific Bay Resumes Exploration on Regalo, Argentina - Drilling Commences on Cariboo Property
Vancouver, British Columbia, November 16, 2004 - Mr. Guilford H. Brett, President, Consolidated Pacific Bay Minerals Ltd. (the "Company") is pleased to announce the start of its Argentinean summer exploration program on the Regalo claims in Chubut Province, Argentina. The Regalo property is under option from IMA Exploration, Inc. The objective of this phase of the exploration program is to conduct grid soil sampling and define potential target zones that can be drilled during the Argentinean summer season (January, February, March, 2005).
Pacific Bay's senior consulting geologist, Dr. Richard Culbert, P.Eng., (Qualified Person for purposes of National Instrument 43-101), has commenced a grid soil sampling program over areas that returned highly anomalous gold up to 1.5 g/t Au in last year's silt sampling program. In addition to the soil sampling underway, Dr. Culbert is also directing the field work of an international engineering firm that is preparing the environmental study required by Argentine law for Pacific Bay's Regalo property.
Pacific Bay's Vice President of Argentina Exploration, George Sanders, M.Sc., P.Geo. is encouraged by the program's smooth start, and notes that the combination of favourable host rocks, epithermal-style silicification, clay alteration over a large area, and the extensive and intensive gold anomalies that are currently being followed up, will augur well for the Company as it continues this current leg of exploration activities.
In other developments, joint venture partner Golden Cariboo Resources Ltd. has commenced diamond drilling on the Craze Creek Property optioned from Consolidated Pacific Bay Minerals Ltd. The holes will be drilled to further explore the northwest trending structure which is the locus of the lead and gold geochemical anomalies in the B Zone, Jewellery Shop Zone, Hibernian Zone and Switchback Zone and elsewhere on this trend. A minimum of three holes will be drilled at this stage. The Qualified Person on site is Janet Ridel, P.Geo., as required per National Instrument 43-101.
On Behalf Of The Board Of Directors
Guilford H. Brett
President
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.