Tickers: XTSX:PST, XOTC:SLTFF, PINX:SLTFF
Vancouver, B.C. - TheNewswire - June 24, 2020 - Pistol Bay Mining Inc. (TSXV:PST); (Frankfurt:OQS2), (OTC:SLTFF) ("Pistol Bay" or the "Company") is very pleased to provide an update on the recently announced 1,500 m diamond drill program by Infinite Ore Corp. (TSX-V:ILI) currently underway at the Fredart Property in Red Lake, Ontario. The Fredart Property is 100% owned by Pistol Bay. Pursuant to an option agreement entered into between Infinite Ore Corp. and Pistol Bay, dated February 03, 2020, Infinite Ore Corp. has an option to earn up to an 80% undivided interest in the Pistol Bay Property.
Infinite Ore Corp. has completed 3 of 5 holes and is ahead of schedule and underbudget as of the date of this press release. Drilling to date has encountered massive to stringer sulphide mineralization in each drill hole which appears to be associated with banded iron formation horizons. The goal of the current drill program is to confirm and expand on the VMS mineralized zones, test for gold mineralization, and refine the Leapfrog 3D model.
Mike England, President and CEO of Infinite Ore Corp. commented, "We are very pleased with the pace of drilling at Fredart, owing to the exceptional infrastructure and technical team we have in place at the property. We will be sending the core to the lab for assaying and will update the market with results as soon as possible".
Dr. Michel Bolly, PhD, P.Geo, the qualified person as defined by National Instrument 43-101, has designed and is managing the current drill program on behalf of Infinite Ore Corp, and is responsible for approving the technical contents of this press release.
About Pistol Bay Mining Inc.
Pistol Bay Mining Inc. is a diversified Junior Canadian Mineral Exploration Company with a focus on zinc and base metal properties in North America. The company is also actively pursuing the right opportunity in other resources to enhance shareholders value. For additional information please visit the Company website at www.pistolbaymininginc.com or contact Charles Desjardins at email@example.com.
On Behalf of the Board of Directors
PISTOL BAY MINING INC.
President and Director
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Statements:
Statements included in this announcement, including statements concerning of the Company's plans, intentions and expectations, which are not historical in nature are intended to be, and are hereby identified as, "forward-looking statements". Forward-looking statements may be identified by words including "anticipates", "believes", "intends", "estimates", "expects" and similar expressions. The Company cautions readers that forward-looking statements, including without limitation those relating to the Company's future operations and business prospects, are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements.
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