Pistol Bay Mining Inc. (TSX-V – PST; Frankfurt – OQS2) (“Pistol Bay” or the “Company’) is pleased to announce that Geotech Ltd. of Aurora, Ontario has completed a helicopter-borne VTEM Plus® survey of the eastern three-quarters of Pistol Bay’s land holdings in the Confederation Lake greenstone belt, southeast of Red Lake, Ontario. The first set of products has been delivered to Pistol Bay, including electromagnetic (EM) profiles and total-field magnetics. More data products will be delivered over the next few weeks.
After reviewing the first tranche of the VTEM Plus® survey results, Pistol Bay has seen a number of anomalies where no mineralized zones were previously known. No exploration decisions will be made until all of the survey results are in, and appropriate interpretation and modeling procedures have been used. CEO Charles Desjardins stated “We are very encouraged by these preliminary results. We now have complete coverage of our land package with a system that can detect sulphide zones at depths of 300 metres or more, possibly much more (up to 700 meters). It gives us the opportunity to look deeper than anyone else has been able to.”