Pacific Bay Minerals Ltd.: Strong Rare Earth Values at Chacho Show High Ratio of Heavy REE
May 19 2010 - 9:00AM
Marketwired
David H. Brett, President and CEO, Pacific Bay Minerals Ltd. (TSX
VENTURE: PBM) (the "Company") reports that assay results from a
recently completed reconnaissance exploration program at the
Company's 100% owned Cueva del Chacho claims in La Rioja Province,
Argentina, confirmed the property's strong potential for Rare Earth
Element ("REE") exploration. Values up to 0.33% Total REEs
("TREEs") were obtained, with heavy rare earths comprising up to
71% of the contained TREEs. Heavy REEs ("HREEs") are economically
more attractive and rare than light REEs. A detailed summary of the
more significant results is inserted below.
The strong REE values were obtained through an initial
collection of 39 samples over an area of roughly 6 square
kilometers on the Cueva del Chacho Property in both coarse
sediments and in leucocratic granite. The hosts and controls of
this mineralization are now better understood as a model for future
exploration, and the property is being expanded accordingly.
"Unlike many REE concentrations, the heavier rare earths have
not been depleted, with the exception of Europium," said project
geologist Dr. Richard Culbert, Ph.D. "Ratios of heavier to lighter
elements, have maintained values similar to those reported for
crustal averages. The heavy rare earths comprise an average of 29%
of the total rare earths, ranging up to 71% if Yttrium is included,
and an average of 14% with a high of 44% if it is not."
The symbol (i) represents those samples that have been submitted
for petrographic analysis to definitively determine rock types.
Sample # TREE + Y (PPM) % TREE + Y % HREEs Lithology
------------------------------------------------------------------------
CC 21 3,333 0.33% 26.2% altered grit(i)
CC 6 2,821 0.28% 38.3% arkosic grit
CC 20 2,557 0.26% 34.1% wash sediment
CC 12 2,113 0.21% 23.6% altered grit(i)
CC 30 1,592 0.16% 21.1% altered grit(i)
CC 31 1,170 0.12% 27.4% altered grit(i)
CC 29 1,103 0.11% 19.4% dark siltstone
CC 5 1,024 0.10% 33.2% dark siltstone
CC 13 886 0.09% 24.0% black silty phyllite
CC 27 818 0.08% 71.9% fissile siltstone
PX 1 799 0.08% 31.7% fine intrusive
CC 22 732 0.07% 38.3% rusty alteration
CC 26 543 0.05% 31.3% grits
A geological report prepared by Dr. Culbert on the Cueva Del
Chacho property including the recent work can be downloaded from
the Company's website at
http://www.pacificbayminerals.com/projects/cueva-del-chacho.html.
About Pacific Bay. Pacific Bay has a diverse portfolio of
uranium, silver and base metals properties, including extensive
holdings in Quebec's Otish Mountains Uranium region and the San
Jorge uranium basin in Chubut Province, Argentina. Pacific Bay's
strategy is to explore its properties mainly through strong
partnerships, such as Strateco Resources Inc. (Quebec) and
UrAmerica (Argentina).
The technical information contained in this news release has
been reviewed and approved by Dr. Richard Culbert, PhD., P.Geo. a
consultant to the Company and a Qualified Person under policy
NI43-101.
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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