@PistolBayMining $PST Executes LOI to Option Copperlode Property with Five Known Zinc-Copper Zones

Pistol Bay has the option to acquire up to an 80 percent interest in the Copperlode Property by making certain payments and share issuances.  The Copperlode Property consists of four mining claims comprising 31 claim units for a total area of approximately 496 hectares or 1,225 acres.  Frontline holds the claims under option from a vendor.  The Copperlode Property hosts two mineralized zones with historical mineral resources based on drilling by Copperlode Mines Ltd. and Rexdale Mines Ltd. in the 1960s and 1970s:

The Copperlode “E” Zone has a historical resource of 145,000 tonnes with reported grades of 8.28% zinc, 1.02% copper and 24 grams per tonne silver.  The Copperlode “D” Zone has a historical resource of 32,600 tonnes reported to average 7.58% zinc and 0.26% copper.  These historical resources do not comply with current standards as spelled out in National Instrument 43-101.  Insufficient work has been done on these zones by a qualified person to determine whether 43-101 compliant mineral resources exist.

Other mineralized zones on the Copperlode Property, with selected diamond drill intercepts, are:

  • Copperlode “B” zone, 6.3 metres @ 2.50% zinc and 1.68% copper
  • Copperlode “C” zone, 1.5 metres @ 0.21% zinc and 6.02% copper
  • Hornet Zone, 6.6 metres @ 7.56% zinc and 0.08% copper, also 5.03 metres @ 4.07% zinc and 1.13% copper.  The Hornet zone was discovered by Noranda Exploration in 1997; it is open at depth and along strike.

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