April 12, 2017: Pistol Bay Mining Inc. (TSX-V - PST; Frankfurt - OQS2) (“Pistol Bay” or the “Company’) is pleased to announce that the Company has contracted Geotech Ltd. of Aurora, Ontario to carry out a 1,128 line-kilometre helicopter-borne survey of the central part of the Company’s land position in the Confederation Lake greenstone belt, southeast of Red Lake, Ontario. The survey will use Geotech’s Versatile Time-Domain Electromagnetic (VTEM Plus) system, which includes a horizontal magnetic gradiometer.
Geotech Ltd. is an industry leader in airborne EM survey technology. The VTEM Plus system delivers more power into the ground, and a better signal-to-noise ratio than previous VTEM systems, resulting in greater depth penetration and better conductor resolution. Pistol Bay anticipates that this survey will explore the survey area to a significantly greater depth than previous airborne surveys, the last of which was done 20 years ago.
Charles Desjardins, President of Pistol Bay commented, “We are very excited about the potential of this new survey. We will essentially be exploring a new depth slice of this greenstone belt with its numerous VMS deposits and occurrences, that has never been explored before. This newer technology increases the chances of potentially finding a new zinc-copper-silver deposit like the Arrow Zone, or the former producing South Bay mine”.
The current VTEM survey is the first phase of a belt-scale survey, which will form part of a multi-disciplinary exploration program of the Confederation Lake greenstone belt, that is planned to extend over the next few years.
Technical information in this news release has been provided or approved by Colin Bowdidge, Ph.D., P.Geo., a Qualified Person as the term is defined in National Instrument 43-101.
About Pistol Bay Mining Inc.
Pistol Bay Mining Inc. is a diversified Junior Canadian Mineral Exploration Company with a focus on precious and base metal properties in North America. For additional information please contact Charles Desjardins – firstname.lastname@example.org - at Pistol Bay Mining Inc.
On Behalf of the Board of Directors
PISTOL BAY MINING INC.
President and Director
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This report contains forward looking statements. Resource estimates, unless specifically noted, are considered speculative. Any and all other resource or reserve estimates are historical in nature, and should not be relied upon. By their nature, forward looking statements involve risk and uncertainties because they relate to events and depend on factors that will or may occur in the future. Actual results may vary depending upon exploration activities, industry production, commodity demand and pricing, currency exchange rates, and, but not limited to, general economic factors. Cautionary Note to US investors: The U.S. Securities and Exchange Commission specifically prohibits the use of certain terms, such as "reserves" unless such figures are based upon actual production or formation tests and can be shown to be economically and legally producible under existing economic and operating conditions.