#PistolBayMining $PST Commences Field Work – Receives #Exploration #Permit for #Drilling on #Dixie #Projects #RedLake #Ontario

Pistol Bay Mining (TSX.V-PST) (#Frankfurt OQS2) is commencing a program of field work on its zinc-rich base metal projects (the “Dixie Projects”) in the Confederation Lake greenstone belt, southeast of Red Lake in northwestern Ontario. Pistol Bay has received an Early Exploration Permit which is valid for three years and allows diamond drilling and mechanized stripping. An Exploration Plan has also been placed on file covering line cutting and geophysical surveys requiring a generator.
The Company is now planning an initial diamond drilling program of between 1,500 and 2,000 metres for the fall of 2016. The program will focus on confirmation of previously drilled targets for which information is incomplete.
Compilation of historical exploration data is continuing, as well as plans for a possible deep-penetrating electromagnetic survey and/or a gravity survey.
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#PistolBayMining $PST Closes $563,450 #Private #Placement

#PistolBayMining $PST closed a $563,450 private placement and will issue 10.23m units at a price of $0.05 per unit consisting of one common share and one whole warrant, warrant priced at

Pistol Bay Logo3$0.075 per share for 12 months from the date or closing. 5,195,000 units a flow-through were issued priced at $0.06 per unit consisting of one common share and one-half of one whole warrant priced at $0.09 per share for 12 months. Cash commission of $20,970 was paid and 196,000 broker warrants were issued.

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