Avalon gets $2.5 million from Sibelco to advance non-JV projects
The companies are partners on the Separation Rapids lithium project in Kenora, Ontario, which is currently in the drilling stage.
Pacific Bay Minerals (TSXV: PBM) has extended the Meteor Boot zone 20 metres southeast at its Haskins-Reed polymetallic project in northern B.C. with a recent, seven hole, 448 metre drill program.
The company tested targets near the Meteor zone, where 2011 drilling cut 17.5 metres grading 88.35 grams silver, 1.11% lead and 3.39% zinc.
Highlights from the company’s recent drill program include 5.2 metres grading 35.83 grams silver, 0.68% lead and 6.2% zinc from 6.5 metres downhole as well as 6.1 metres at 56.45 grams silver, 1.89% lead and 2.6% zinc.
Various operators have drilled more than 200 holes into the Haskins-Reed property over the past 50 years. Pacific Bay has spent $750,000 at the property since 2011, completing diamond drilling, airborne geophysics and soil geochemistry.
Pacific Bay Minerals has two other B.C. gold properties and a B.C. jade property.
The company recently consolidated shares, exchanging five old shares for one new one. Shortly after it raised $190,550 by issuing more than 1.3 million shares.
Shares of Pacific Bay are currently trading at 8¢ with a 52-week range of 5¢ to 30¢. The company has a $1 million market capitalization.
This story first appeared in The Northern Miner.
