The results are in from the latest exploration at Pegasus Resources’ (TSXV: PEGA) Vertebrae Ridge property in Golden, British Columbia. The results come from a prospecting and backpack drilling program conducted over a period of eight days in August.
The program resulted in the discovery of a new copper-gold zone on the 5,342 hectare property, referred to as the Canon zone. The new zone is believed to be related to a large oval alkaline intrusion that is west of the mineralized area.
Exploration on the property was centered around this new zone, as well as the Crest and Barrel zones, where the company expanded known mineralization and confirmed continuity at historic sample locations. Highlights from the program include a total of 65 samples collected at Crest, with 34 measuring greater than 1% copper, and 22 sampling above 2%, with the highest coming in at 29%. All samples here meanwhile averaged 16 g/t silver as well, with the highest measuring 201 g/t silver. The zone was also tracked to over 4,000 metres of strike.
The Barrel zone meanwhile saw 13 samples collected over a strike length of 1,500 metres, with three samples measuring above 1% copper. Cannon saw a further 26 samples collected over a region measuring 500 metres by 1,100 metres, with 9 samples seeing values greater than 1% copper, and two sample sseeing gold values of 1.44 g/t gold and 4.22 g/t gold, respectively.
Pegasus Resources last traded at $0.045 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. We may buy or sell securities in the company at any time. Always do additional research and consult a professional before purchasing a security.
