Ron said that he will be in the Southwest this week, if you see him tell him about Pat.V (Patricia) and his old rec here on Pacific Bay, they appear in the same stage prior to new drills/programs. The abutters drills are key, Expatriate hit ( The Zinc Numbers are in The Finlayson Lake Mining Camp- with EXR hitting Copper & Silver & Cobalt next to their claim in 1997 it is a copper claim area now-with incidental Gold and Zinc-that is darn economic in its own right!) next to PBM where Westmin is still trying to hit the targets, as Ron Struthers told me, on this subject, "And so the story goes!"
Here's an old link that I found as you see we have permission to POST"
sentex.net
>Chuck, just post to me on the Pacific Bay thread and I will respond. I
>think that RSA report is on my web site so we could post a link to it. If not I could load it on my site.
>
>Ron
>Ron Struthers Editor of Resource Stocks Advisory
>Resource Stocks Advisory, P.O. Box 335, Owen Sound, Ont., Canada, N4K 5P5
>High Profit Mining Stock Selections and Investment Strategies
>Email: resource@sentex.net Website "http://www.sentex.net/~resource"
>Phone 519-372-8855 FAX 519-372-8684
>
>
>
"Here is my old reco on it. Ron"
RSA SITUATIONS and SPECULATIONS Volume 1 # 7 Sept 6 1996
P.O. Box 335, Owen Sound, Ontario, Canada N4K 5P5 519-372-8855
resource@sentex.net Yearly subscription $129 cdn/year $99 US
Web Site "http://www.sentex.net/~resource"
A NEW YUKON GOLD RUSH
In 1995 and early 1996 the Yukon has witnessed a staking rush the likes
that have not been seen in over 30 years. This started in 1994 when mining
giant Cominco announced that they outlined 13 million tons of ore containing
3.65 oz/ton silver, 0.035 oz/ton gold, 1.3% lead, 5.5% zinc and 1% copper.
This deposit is in south central Yukon near Finlayson Lake called Kudz Ze
Kayah and is worth approx $1.6 billion.
Next, Westmin Resources struck a deal with junior Atna Resources on a
property about 25 kilometers west of Kudz Ze Kayah near Wolverine Lake. In
the spring of 1995 Westmin struck a hole with 27 feet grading 0.22 oz/ton
gold, 39 oz/ton silver, 14.22% zinc, 3.45% lead and 0.56% copper. Atna's
share price soared and the staking rush was on. As of May/96 the Wolverine
deposit had a resource estimate of 3,052,440 tons grading .055 oz/ton gold,
10.21 oz/ton silver, 1.27% copper, 12.99% zinc and 1.43% lead. Westmin's
drilling continues to expand this zone.
In the 1970's veteran prospector Andrew Harman was working in the area
staking ground for the Dynasty group of Companies and knew the area well.
Andrew staked the TY 1-38 claims early in the rush (before the Wolverine
discovery) based on his previous knowledge of this area. The TY 1-38 claims
are relatively small but contain a better quality target in prefered geology
compared to other properties. There is a large rusty rock outcrop, known as
a "gossan" on the property which is a rare occurrence in the area. Before I
tell you more about this, lets have a close look at Pacific Bay Minerals who
have aquired the TY property from prospector Andrew Harman and have obtained
Andrew's services to aquire additional properties.
Pacific Bay Minerals Ltd trades on Vancouver under symbol 'PBM'
Shares Outstanding 6,864,229 million as of May 31 1996
Fully Diluted 9,089,229
52 week trading range 0.34 to $1.00cdn Recent price $.63
I would buy at $.63 Stop Loss $.45
Major Shareholders - Widely held
MANAGEMENT
David H. Brett, President, BA, CEO and Director has over 15 years
experience in mineral exploration and management. He is also VP of Cusac
Gold Mines Ltd. (TSE-CQC) and Chief Financial Officer of Demand Gold Ltd.
Guilford H. Brett, BA, Chairman is also President and CEO of Cusac Gold
Mines Ltd., a gold producer he founded in 1966 and brings a wealth of
experience to Pacific Bay
W. Earl Essery, CA, Secretary/Treasurer and Director has over 30 years
experience in public companies and financial accounting.
Douglas E. Eacrett, LLB, CA, Director is in house counsel for Pacific Bay
and has over 20 years experience in dealing with legal and accounting issues
of junior resource companies. Mentioned above is Andrew Harman a veteran
prospector with decades of experience in the Yukon and South America, who
also speaks fluent Spanish and continues to work with Pacific Bay in
aquiring additional properties.
As you can see, there is definetly plenty of experience in the management
team.
PROPERTIES
PBM's key properties are in the Yukon, specifically the TY property of
38 claims. These claims are located in the Yukon some 30 kilometers south of
the Westmin/Atna Resourses Wolverine discovery and about the same distance
south-east of Cominco's ABM deposit.
PBM had little trouble attracting joint venture partner Westmin
Resources Ltd. with the excellent geological setting and the similarity of
the property to the Wolverine deposit. Westmin can earn a 60% interest in
the property by paying PBM $50,000 cash and spending at least $500,000 on
the property over 3 years. Soil geochemistry by Pacific Bay has outlined a
significant polymetallic anomaly on the claims. Westmin has followed up with
air borne surveys and ground work began on July 16th and drilling is
currently underway.
Ground work thus far has confirmed the strong geological potential of the
property to host massive sulphide mineralization. Westmin's geologists have
also found another area of interest in the northwestern section of the claim
block where a bedded barite unit exists up to 3 to 4 meters thick and
outcrops over a strike length of 30 to 40 meters. The odds look very good
here of finding a large ore body and any good drill results could send the
stock up significantly.
Pacific Bay has continued to aquire more than 400 additional claims in
the Yukon Area. The 42 JK claims are 35 kilometers north of the Wolverine
deposit and were obtained for $30,000, 100,000 PBM shares and a 2 1/2% NSR
for the vendor. These claims cover numerous base metal showings and highly
anomalous soil and silt geochemistry coincident with a prominent, one mile
long magnetic anomaly. Selected assays obtained by previous owners in the
late 1960's ranged up to 14.3 oz/ton silver, 9.2% lead, 3.6% zinc and 16.2%
copper.
Pacific Bay has aquired 62 claims from prospector Edward Asp and staked
additional claims in the Yukon area including the MAC claims between JK and
the Wolverine deposit and claims known as the Simpson Lake property. These
all cover favourable geological ground and PBM is currently doing field work
on these.
OTHER PROPERTIES
Pacific Bay's "Storie Silver" property is in northern BC's Cassier Gold
Camp and adjoin Cusac Gold Mine Ltd's producing Table Mountain Mine and
ground being explored by Cyprus Canada Inc. for large bulk tonnage gold
deposits.
So far PBM has drill indicated reserves in the 'Magno Zone' as follows
Eas128,820 tonnes @ 131 g/t Ag, 0.69 g/t Au, 4.06% Ph, 4.40% Zn
Mid West 97,110 " 258.5 g/t Ag, 9.43% Ph, 5.34% Zn
West 200,487 " 198.8 g/t Ag, 5.4% Ph, 3.4% Zn
D-Zone 90,000 " 70 g/t Ag, 3.3% Ph, 6.3% Zn
Further work is planned on the property this year.
Pacific Bay also holds 5 seperate properties in Labrador's Voisey Bay
area, with geology favourable for uranium, copper, gold type deposits, but
no work is planned here for 1996. PBM just recently aquired the Trombetas
properties in northern Brazil near the Guyana border, this could also turn
into another interesting play.
FINANCIAL
Deleted as based upon 1995 info
SUMMARY
Pacific Bay has aquired some of the best properties in the Yukon,
Wolverine area and has a great JV deal with Westmin on the most favourable
TY property.( The stock priced at DELETED as 1995-6 info )
As far as I am aware of, there has been no other newsletter
recommendations on the stock and appears to be undiscovered at this time.
This could change in a hurry with some good drill results. Westmin's
geologists seem very excited with what they are finding at TY, so the odds
seem pretty good of some good news coming out on the exploration
program. You can now get into this one on the ground floor. The stock seems
to trade fairly active most days, but since there is less than 7 million
shares outstanding you may have better luck picking up shares a few thousand
at a time. Check with your broker to see what is offered.
For more Information contact: Pacific Bay Minerals Ltd.
908-700 West Pender St.
Vancouver BC, V6C 1G8
Phone 604-682-2421
Fax 604-682-7576
US toll free 1-800-665-5101
Remember Ron Struthers told me a stress below on the above facts, "so the story goes!" when I said in that original letter, in May 1997, I think PBM is a sleeper:
"Agree with PBM, I thought it would move last year but Westmin didn't hit the right spot with the drills. So the story goes
Here is my old reco on it. Ron"
Chuc
P.S.- The shares outstanding are around 10 million, call the IR, Doug Winslow for specifics, this was 1996 info / reco.( CN toll free = 800-670-6570 )
P.P.S.- In the HOT LINKS area at Mining I just this morning posted a LINK : Advisory- Ron Struthers....It might interest you, one of the TOP gold sites and HOTLINE E-Mail Basis Newletter on the WEB. You should subscribe to it folks if you want to be ahead of the CROWD!!
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