VANCOUVER, BRITISH COLUMBIA–(Marketwire – June 25, 2009) – Mr. David H. Brett, President and CEO, Pacific Bay Minerals Ltd. (TSX VENTURE:PBM) (the “Company” or “Pacific Bay”) reports that the Company has mobilized a crew to commence exploration on its 100% optioned Haskins- Reed polymetalic property near Cassiar, north central British Columbia. The current program will include trenching of the broad, multi-element soil geochemical anomalies outlined in the 2008 program and establishment of a new soil grid over the 3.5 KM long geophysical anomaly discovered last year. Trenching is subject to a regulatory permit which is expected shortly.
The trenching will focus initially on the Joe Reed Vein area, which hosts an historic resource of 80,000 tons, grading 6.4 opt silver, 5.5% lead and 4.1% zinc. 2008 soil sampling, south of the Joe Reed Vein, where the 2008 airborne survey revealed a significant magnetic anomaly, returned a moderate to strong zinc-lead-silver-arsenic-antimony-bismuth-gold anomaly, measuring over 800-metres north-south and 125 metres to 500 metres in width. Of particular interest is the presence of gold in the soils, which had not been focused on historically in this area.
The Haskins-Reed property is located just off Highway 37 and hosts numerous skarn, replacement and porphyry-style mineral occurrences including: a drill intercept of 72 metres, grading 0.19% MoS2 and 0.15% tungsten; an historic resource of 1,917,000 tons of 0.82 opt silver, 0.52% copper, 0.47 lead, 2.77% zinc and 0.24% bismuth; and, 600 metres of underground drifts and cross-cuts, on two levels. Another molybdenum-tungsten rich skarn zone returned a drill intercept of 39 metres grading 0.33% MoS2 and 0.22% Wo3 and a zinc-rich skarn that yielded 18.63% zinc over 3 metres.
“Located close to Highway 37, the Haskins-Reed property would benefit tremendously if the BC Government’s vision to extend the power grid to the Cassiar area is realized,” said Pacific Bay CEO David Brett. “The decision to spend $10 million on engineering and environmental assessment of the proposed power line will be a big step forward for the Cassiar Mining Camp.”
The technical information contained in this news release has been reviewed and approved by Ernie Black, P.Eng., a Qualified Person under policy NI 43-101. All assays reported in this news release were prepared by Acme Analytical Laboratories of Vancouver, B.C.
Pacific Bay Minerals Ltd.
David H. Brett, MBA, President & CEO
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.