The Company may earn a 100% interest in the Gold Mountain Property subject to the terms of an option agreement dated
GOLD MOUNTAIN
The Gold Mountain Property is located just north of
The Ag-Au-Pb-Zn-Cu-Sb mineralized system described in a prior news release (
Given the results obtained during the 2020 exploration program and confirmation of historic exploration, the Company looks forward to conducting an aggressive program of both regional exploration and detailed follow up as soon as conditions permit in the second quarter of 2021.
PUNCH BOWL
A site visit of the Punch Bowl claims was completed in late September, during which fifty-three (53) samples were collected. Of the fifty-three (53) samples from the Punch Bowl claims, thirty-nine (39) returned anomalous Au values, of which fourteen (14) samples returned assays greater than 0.1 g/t with the highest assay returning at 3.41 g/t Au. The presence of anomalous gold identified in 74% of the collected samples with an average of 0.37 g/t Au from the visit confirms that follow up work is warranted during summer months, to better understand the potential for this property.
Samples were collected from multiple parallel northwest-southeast oriented linear trends, approximately 700 meters long and open in each direction. The gold appears hosted within recessive weathering, pyrite-bearing phyllite crosscut by quartz veins. Future prospecting will attempt to locate similar recessive weathering veins outside the know occurrences.
About
Contact:
Tel: 1-604-369-8973
Email: info@pegasusresourcesinc.com
Forward Looking Statements
Statements included in this announcement, including statements concerning the Company's plans, intentions and expectations, which are not historical in nature are intended to be, and are hereby identified as, 'forward-looking statements'. Forward-looking statements may be identified by words including 'anticipates', 'believes', 'intends', 'estimates', 'expects' and similar expressions. The Company cautions readers that forward-looking statements, including without limitation those relating to the Company's future operations and business prospects, are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements.
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