Pacific Bay has identified new drill targets and refined its drill program through analysis and interpretation of the airborne magnetic, VLF, and radiometric surveys carried out by Precision GeoSurveys Inc. (Precision) over the Wheaton Creek Gold Property in Northern British Columbia.
The airborne magnetic survey over the Company’s 100% owned Wheaton Creek Gold property in Northern British Columbia has successfully outlined distinctive magnetic features that will assist the drill targeting in it’s upcoming program.
Pacific Bay Minerals has engaged Precision GeoSurveys Inc. to perform a detailed airborne magnetic survey over the Company’s 100% owned Wheaton Creek Gold property, located in Skeena Mining Division of Northern British Columbia.
David H. Brett, President and CEO, Pacific Bay Minerals Ltd. (TSX Venture: PBM, “Pacific Bay” or the “Company”) is pleased to provide an update on the Company’s exploration strategy and program for its 100% owned Wheaton Creek Gold and Haskins-Reed polymetallic properties.
Pacific Bay has closed a $35,750 final tranche of a previously announced financing through issuance of 286,000 units at a price of at a price of $0.125 per unit (the “Units”). The Units consist of one common share and one warrant to purchase one additional common share at a price of $0.175 for one year.
Company has received TSX Venture Exchange approval to extend the closing date of the remaining 1,210,000 non flow-through units (the “NFT Units”) at a price of $0.125 per NFT Unit, to February 5th, 2021. Each NFT Unit consists of one common share and one warrant to purchase one additional common share at a price of $0.175 for one year.
the Company has received TSX Venture Exchange approval to extend the closing of the remaining $171,500 of a $537,500 non-brokered flow-through and non flow-through private placement announced on November 4, 2020 (the “Financing”) to January 21, 2021. A $366,000 first tranche of the Financing was closed on December 8, 2020.