Pegasus Sees Drilling Commence On Joint Ventured Property

Pegasus Resources (TSXV: PEGA) has seen its joint venture partner commence a drill program at its Confederation North property. The program, conducted by Infinite Ore Corp, is being conducted within the firms Eastern Vision property, located east of Great Bear’s Dixie property.

The drill program on the Confederation North property is to consist of a total of 2,500 metres, with a focus on testing gold, copper, and silver anomalies that were noted during a recent spaciotemporal geochemical hydrocarbon survey that was conducted on portions of the property.

Infinite Ore has currently optioned a total of three properties from Pegasus in the Red Lake region. The properties, which include Fredart, Garnet Lake, and Confederation North, all form a part of Infinite’s Eastern Vision project. Both Fredart and Garnet have 80% options on them, while Confederation North has a 75% option, which can be increased to 90%.

“We are excited to see the start of this 2,500 meter drill program on the Confederation North property and are anxious to see the results. Access to the property and logistics are very good, so I anticipate an efficient drill program.”

Charles Desjardins, President of Pegasus Resources

Pegasus Resources last traded at $0.06 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

Silver’s Finally Breaking the System | Keith Neumeyer – First Majestic

The Best News for Gold Was the Drop! – Peter Grandich

McEwen Copper: The Los Azules Feasibility Study

Recommended

Silver47 Completes Property-Wide Geochemical, Rock Sampling Program At Adams Plateau, Identifies Numerous Targets

Altamira Gold Identifies Presence Of Second Mineralized Porphyry Body At Cajueiro

Related News

West Red Lake Announces Fall Drill Program At NT Zone

West Red Lake Gold Mines (CSE: RLG) this morning announced that it is currently planning...

Thursday, September 10, 2020, 11:04:53 AM

Silk Road Energy Acquires Gold Properties In Kirkland Lake Region Of Ontario

Silk Road Energy (TSXV: SLK) has closed on its previously announced purchase of multiple gold...

Thursday, June 9, 2022, 02:10:00 PM

IAMGOLD Halts Production At Westwood Mine Following Seismic Event

IAMGOLD Corp (TSX: IMG) early this morning announced that production at its Westwood Underground mine...

Monday, November 2, 2020, 08:58:08 AM

Russia’s Share of Gold Exceeds US Dollar Holdings for First Time Ever

With tensions between the US and Russia escalating over the past several years, the latter...

Wednesday, January 13, 2021, 10:45:00 AM

Great Bear Updates With More Great Results

Yesterday Great Bear Resources (TSXV: GBR) reported results from their ongoing $21 million exploration program...

Tuesday, May 5, 2020, 08:45:09 AM