Friday, August 1, 2025

Latest

Pegasus Resources Expands Vertebrae Ridge Property Following Positive Assays

Pegasus Resources (TSXV: PEGA) has staked additional claims at its Vertebrae Ridge property near Golden, BC. The staking of additional claims follows the recently released assays wherein the company reported highlight samples measuring as high as 35.5% copper and 360 g/t silver.

Additional land was staked by the company to the north and south of its current claims, which was done as a means of covering potential extensions of the known mineralization to both the north and the south. The staking has resulted in the property size growing from 2,871 hectares to 5,324 hectares.

The property now consists of a total of four claims, located 81 kilometres northwest of Golden. Following the fall prospecting program where samples were identified with the above highlight samples, the company is currently planning a late spring 2021 work program. The samples from the program were collected from three separate locations on the property, with an aggregate 2,300 metres of strike being found across the three zones.

The company this morning also provided an update on its sale of certain Confederation Lake assets to that of Trillium Gold Mines (TSXV: TGM). The company indicated that it has received $100,000 in cash to date from the company, with a further $400,000 in cash expected in the near term, along with $1.25 million worth of common shares of the Red Lake gold explorer.

In addition to Confederation Lake, the company has an outstanding option agreement with Infinite Ore Corp (TSXV: ILI). That arrangement currently has work commitments of $3.1 million, as well as cash payments of $325,000 and the issuance of 5.25 million Infinite Ore common shares outstanding, to Pegasus’ benefit.

Pegasus Resources last traded at $0.055 on the TSX Venture.


FULL DISCLOSURE: Pegasus Resources is a client of Canacom Group, the parent company of The Deep Dive. The author has been compensated to cover Pegasus Resources on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.

Video Articles

Why Gold’s Bull Run May Just Be Getting Started! | Peter Grandich

Tariffs Spark New Race for Critical Metals | Rob McEwen

Antimony Resources: The Bald Hill Project

Recommended

Tsunami Warnings Spread As Largest Quake Since 2011 Hits Russia

Northern Superior Intersects 1.75 g/t Gold Over 65.0 Metres At Philibert

Related News

Infrastructure: The Hidden Value in Mining Projects with Mathew Wilson of Sterling Metals and EarthLabs

In this interview at the Precious Metals Summit 2024, Mathew Wilson, CIO of EarthLabs Inc....
Tuesday, September 17, 2024, 03:19:00 PM

Why Is Stellantis Investing $155 Million In An Argentinian Copper Miner?

Stellantis NV (NYSE: STLA) announced Monday a $155 million investment in an Argentina copper project...

Tuesday, February 28, 2023, 10:56:00 AM

We’re At The Start of a Great Silver Boom | Ross McElroy & Andy Bowering – Apollo Silver Corp

This interview features Apollo Silver Corp. (TSXV: APGO) Chairman Andy Bowering alongside newly appointed CEO...

Tuesday, May 27, 2025, 02:51:00 PM

Pegasus Resources Assays 18.8% U3O8 In Sample At Its Energy Sands, Utah Project

Pegasus Resources (TSXV: PEGA) has seen success in a recent sampling program conducted at its...
Monday, March 25, 2024, 04:09:18 PM

GoGold Hits 17.2 Metres of 186 G/T Silver Equivalent At Los Ricos North

GoGold Resources (TSX: GGD) released additional assay results from its ongoing drill program at the...

Wednesday, November 4, 2020, 08:02:38 AM