Strateco Starts 2,000 Meter Drill Program on Pacific Bay Uranium Claims, Otish Mountains, Quebec
September 08 2009 - 9:00AM
Marketwired
David H. Brett, President and CEO, Pacific Bay Minerals Ltd. (TSX
VENTURE: PBM) (the "Company") reports that Strateco Resources Inc.
("Strateco") (TSX: RSC) has commenced core drilling on the
Company's uranium claims in the Otish Mountains district of Quebec.
The 2,000 meter program will focus on two key targets. The first
target is 4KM north of Strateco's Matoush Deposit where a potential
extension of the mineralized Matoush fault structure is indicated
by airborne and ground geophysics. The second target lies 2.7 KM
east of the Matoush Deposit, where re-interpretation of airborne
and ground geophysics, as well as prospecting for radioactive
boulder trains, indicates the potential for Matoush - Style uranium
mineralization.
"The Otish Mountains remains one of Canada's premier locations
to explore for high-grade uranium, and Quebec remains the number
one jurisdiction worldwide to conduct mineral exploration," says
Pacific Bay CEO David H. Brett. "Pacific Bay has an exceptional
land position in the region which it is exploring through strong
partnerships with companies like Strateco."
Strateco can earn a 60% interest in the Company's Otish
Mountains claims by spending $3 million, paying the Company
$500,000, 200,000 Strateco shares and other consideration, over
four years. 2009 is the second year of the option agreement.
The technical information contained in this news release has
been reviewed and approved by Ernie Black, P.Eng., a Qualified
Person under policy NI43-101, a consultant to the Company.
Pacific Bay Minerals Ltd.
David H. Brett, MBA, President & CEO
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this news
release.
Contacts: Pacific Bay Minerals Ltd. Investor Relations (604)
682-2421 or Toll Free: 1-800-670-6570 (Canada) Toll Free:
1-800-665-5101 (USA) (604) 682-7576 (FAX)
www.pacificbayminerals.com
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