RED LAKE – Pistol Bay Mining announced that it will not be proceeding with the 100% option on the Pakwash South property in Ontario.
The project, located near Red Lake, comprises 2,130 hectares and lies southeast of the Dixie Lake gold discovery now being explored by Great Bear Resources.
In a media statement, Charles Desjardins, Pistol Bay’s president and CEO, said that the company decided to drop the project in order to focus its efforts on the Pakwash North and Pakwash East properties, both located in the vicinity of a recent Great Bear Resources’ discovery.
Desjardins explained that the Pakwash East block comprises of 35 cells, with an area of approximately 716 ha. It is 12.5 km southeast of Great Bear’s Dixie property and adjoins a 9,650-ha claim group registered to Great Bear.
The Pakwash North block, on the other hand, is located 44 km southeast of Red Lake, comprises 106-cells, occupies 2,174 ha and lies 21 km southeast of the Dixie Lake gold discovery.
This story originally appeared on www.Mining.com.