Pacific Bay drills 9.96 g/t gold over 3.05 metres at Atlin goldfields, British Columbia
Pacific Bay Minerals Ltd. [PBM-TSXV] reported assay results for the initial drill phase conducted in September, 2022, consisting of two diamond drill holes on the Atlin goldfields project near the town of Atlin in northern British Columbia. Pacific Bay holds an option to acquire up to a 100% interest in the property from Brixton Metals Inc. [BBB-TSXV; BBBXF-OTCQB].
The diamond drill holes were designed to test gold mineralization at the Yellowjacket zone, initially identified in the 1980s as a high-grade orogenic (mesothermal) gold system. Yellowjacket was subsequently diamond drilled, bulk sampled and achieved a B.C. small-mine permit in 2009. The mining operation is currently under care and maintenance.
Diamond drill hole YJ22-01, with a dip of -50 degrees, intersected the Yellowjacket main zone returning 9.96 g/t gold over 3.05 metres (from 117.96 to 121.01 metres). Diamond drill hole YJ22-02, with a dip of -60 degrees, stopped at 135.85 metres just entering the mineralized zone and did not return any gold values of significance.
The two diamond drill holes, collared 30 metres apart, were designed to test the Yellowjacket shear/vein system immediately down dip of prior drill holes which returned high-grade gold intercepts. Due to difficult ground conditions and drill issues, neither hole reached its final target depth. Hole 2 stopped within the anticipated mineralized zone when the drill rods were stuck and unable to be retrieved. The next phase of diamond drilling will utilize larger-core diameters and more aggressive mud mixtures which will enhance drill performance and core recoveries.
“Although initial drill difficulties were encountered, we are excited by the results of this small drill program,” said Pacific Bay president and CEO David Brett. “The company’s aim is to dramatically expand drilling at Yellowjacket in 2023.”
The Yellowjacket occurrence is known to include individual, mineralized quartz veins that are hosted within pre-existing structures, as well as zones of mineralized vein arrays. Listwanitic altered ultramafic rocks are consistently associated with the gold veins and vein arrays, with the gold most commonly hosted in gabbro, diabase, basalt and andesite (brittle, crackle fractured rocks) in fault contact with ultramafic rocks. Free gold mineralization occurs as scatted coarse native gold grains associated with minor pyrite, chromite and mariposite.
The company is planning to complete detailed 3-D imagery of the Yellowjacket zone in order to best determine the next-phase drill locations. Prior drilling at Yellowjacket has consisted largely of very shallow drill holes, averaging just over 100-metre depths. The next drill phase will look at gaps in drill data within the Yellowjacket gold mineralization as well as expanding the zone to depth. The additional drilling is dependent upon financing.
Pacific Bay Minerals is focused on advancing its flagship project, Atlin goldfields with a 56,569-hectare package of mineral tenures. The company also holds 100% interest in three mineral properties in British Columbia: Wheaton Creek gold, Haskins Reed and Weaver gold.