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The latest update is out from Pacific Bay Minerals ( (TSE:PBM) ).
Pacific Bay Minerals Ltd. has signed an extension to its non-binding Letter of Intent with Appian Capital Advisory LLP to acquire a 100% interest in the Pereira Velho gold project in Alagoas State, Brazil. The project, strategically located near the Serrote Copper Mine, benefits from existing infrastructure and a skilled workforce, enhancing its development potential. The 14,596-hectare site hosts significant gold mineralization, with historical estimates indicating substantial resources in both oxide and sulphide domains. Preliminary metallurgical tests suggest promising gold recoveries, supporting the project’s potential for low-cost, heap leach processing, particularly in the oxide domain.
More about Pacific Bay Minerals
Pacific Bay Minerals Ltd. operates in the mining industry, focusing on the exploration and development of mineral properties. The company is primarily involved in gold and base metal projects, with a market focus on emerging jurisdictions such as northeastern Brazil.
Average Trading Volume: 30,203
Technical Sentiment Signal: Buy
Current Market Cap: C$2.43M
Find detailed analytics on PBM stock on TipRanks’ Stock Analysis page.