Tickers: XTSX:PST, XOTC:SLTFF, PINX:SLTFF
Vancouver, B.C. - TheNewswire - June 30, 2020 - Pistol Bay Mining Inc. (TSXV:PST); (Frankfurt:OQS2), (OTC:SLTFF) ("Pistol Bay" or the "Company") is very pleased to announce that Infinite Ore Corp. (TSXV:ILI) plans to double its current 5 hole drill program to 10 holes on the Fredart Property located in the prolific Red Lake Mining District. The Fredart Property is 100% owned by Pistol Bay. Pursuant to an option agreement entered into between Infinite Ore Corp. and Pistol Bay, dated February 03, 2020, Infinite Ore Corp. has an option to earn up to an 80% undivided interest in the Pistol Bay Property.
Drilling to date has encountered massive to stringer sulphide mineralization which appears to be associated with banded iron formation horizons.
To date the drill program has intersected mineralization along strike at approximately 1.2 km to the east of the known core of the Cu-Ag mineralized area. The eastern area has seen little exploration and the target was selected by following a conductive and magnetic anomaly. In addition, drilling at Fredart has intersected mineralization at deeper levels than typically expected down to a depth of approximately 240 m. Previous drilling on the property had intersected mineralization principally from surface down to 150m depth. Until now 140 samples have been sent to SGS Laboratories for analysis.
The goal of the current drill program is to confirm and expand on the VMS mineralized zones, test for gold mineralization, and refine the Leapfrog 3D model.
Dr. Michel Bolly, PhD, P.Geo, the qualified person as defined by National Instrument 43-101, has designed and is managing the current drill program on behalf of Infinite Ore, and is responsible for approving the technical contents of this press release.
About Pistol Bay Mining Inc.
Pistol Bay Mining Inc. is a diversified Junior Canadian Mineral Exploration Company with a focus on zinc and base metal properties in North America. The company is also actively pursuing the right opportunity in other resources to enhance shareholders value. For additional information please visit the Company website at www.pistolbaymininginc.com or contact Charles Desjardins at firstname.lastname@example.org.
On Behalf of the Board of Directors
PISTOL BAY MINING INC.
President and Director
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Statements:
Statements included in this announcement, including statements concerning of 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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