RE: NEWSThe company has a lot going for it, more research is required on this property but the one line is very interesting, and promising. I am glad to see they are going to do more geo survying of propery.
Strateco investment is interesing also as it shows the Matouch fault Uranium on our property and they are proceeding with drilling. They need our property to increase the size of resource so we are in the drivers seat and they hit. Now lets see what other holdes bring for grades.
And the most important part is the Argentina Uranium play, I see a major JV or a takeout.
Pinetree didn't just come along for the ride, they invested in company with outstanding potential.
JMO, Jim
----------Original Message Posted 12/14/2010 2:28:24 PM----------
Pacific Bay Minerals samples 1.7 m of 72.1 g/t Ag at Ax
Ticker Symbol: C:PBM
Pacific Bay Minerals samples 1.7 m of 72.1 g/t Ag at Ax
Pacific Bay Minerals Ltd (2) (C:PBM)
Shares Issued 55,343,614
Last Close 12/13/2010
.12
Tuesday December 14 2010 - News Release
Mr. David Bret treports
PACIFIC BAY'S AX SILVER PROPERTY RESULTS SHOW PROMISE
Pacific Bay Minerals Ltd. has received results from a combined geochemical and geological survey of its Ax property in north-central British Columbia. This 5,664-hectare property is located approximately 40 kilometres north of Cassiar, 40 km southeast of Silvercorp's Silvertip deposit and 10 km north of the company's Haskins-Reed polymetallic property.
The phase I exploration program was designed to target stratabound, replacement-style silver-lead-zinc-copper mineralization, similar to the Silver Tip deposit, and confirm historical results from the property. Twenty-four rock, 259 soil and two silt samples were collected during the geochemical sampling program.
Six kilometres of soil sampling grid lines were established over the central part of the property. The most significant soil geochemical anomaly occurs centrally within the grid area. Values within this anomaly range up to 0.6 gram per tonne silver, 1,164 parts per million Pb, 5,497 ppm Zn and 738 ppm Cu. These soil geochemical results indicate the presence of linear geochemical anomalies that parallel the regional stratigraphy, possibly reflecting stratabound mineralization.
MOST SIGNIFICANT ROCK ASSAYS VALUES
Sample
width
Sample (m) Ag (g/t) Pb (%) Zn (%) Cu (%)
AX10-5 2.0 21.5 0.52 1.05 0.46
AX10-6 2.5 20.2 0.23 2.70 0.62
AX10-8 0.7 4.3 0.41 0.07 0.03
AX10-11 1.7 72.1 26.50 0.01 2.30
AX10-12 1.4 1.9 0.67 0.01 0.29
AX10-13 1.8 1.85 0.01 7.35
The company is currently interpreting the exploration results and planning a 2011 exploration program that should include both trenching and geophysical surveying.
Samples were collected by Pacific Bay Minerals personnel and submitted for analysis to Eco Tech Laboratory Ltd. in Kamloops, B.C.
Exploration work on the Ax project was supervised by Alex Walus, PGeo, who is the qualified person, as defined by National Instrument 43-101, for the Ax exploration program and supervised the preparation of the technical information in this release.
The company plans to follow up with a reconnaissance exploration program in the 2011 field season.
? 2010 Canjex Publishing Ltd.