For Immediate Release. Vancouver, British Columbia, August 20, 2014. David H. Brett, President and CEO, Pacific Bay Minerals Ltd. (TSX Venture: PBM, the “Company”) reports that the Company has commenced a diamond drilling program on the Brett Zone high grade zinc zone at its 100% owned Haskins-Reed property in northern British Columbia.
The goal of the six-to eight-hole, 500-metre drilling program is to confirm and extend mineralization intersected during previous drill campaigns in 1971, 1980 and 1997. The Brett Zone is open to the east, west and down dip. In 1997, diamond drilling returned zinc values ranging from 0.01 to 18.96% zinc, including high grade zinc intercepts of 21.19% over 2.6 meters and 9.23% over 13.20 metres. The Haskins-Reed Base Metals Property is located on Highway 37 near Cassiar, BC.
The President and CEO of Pacific Bay Minerals, David H. Brett commented, “Our management believes strongly that the Haskins – Reed property has exploration potential to host an underground base metal deposit in the range of 4 to 6 million tonnes, as well as the potential to host larger scale porphyry mineralization at depth.”
The Haskins-Reed Property hosts multiple zones of silver, lead, zinc, copper and bismuth mineralization explored over 50 years by various operators including Cominco and Canadian Superior. An attempt to mine one of the zones, the B Zone, was made in the mid-1970s, resulting over 5,000 feet of underground development.
The Brett Zone mineralization occurs within the metasedimentary assemblage of the Atan Group proximal to the Upper Cretaceous porphyritic calc-alkaline intrusions at Mount Reed. Mount Reed was explored extensively in the 1970’s and 1980’s for its molybdenum and tungsten mineralization, and was tested with a significant amount of diamond drilling. Potential also exists at the Brett Zone to discover porphyry-style base-metal mineralization in a buried intrusive stock.
The technical disclosures in this news release were reviewed and approved by Doug Blanchflower, P.Geo., a Qualified Person, as defined by National Instrument 43-101.
Pacific Bay Minerals Ltd.
David H. Brett, MBA, President & CEO
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