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.
As the founder of The Deep Dive, Jay is focused on all aspects of the firm. This includes operations, as well as acting as the primary writer for The Deep Dive’s stock analysis. In addition to The Deep Dive, Jay performs freelance writing for a number of firms and has been published on Stockhouse.com and CannaInvestor Magazine among others.