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Pacific Bay Minerals ( (TSE:PBM) ) just unveiled an update.
Pacific Bay Minerals has signed a Letter of Intent with Aurwest Resources Corporation under which Aurwest can earn a 50% interest in Pacific Bay’s 100%-owned Weaver Gold Project in southwestern British Columbia over three years through staged cash and share payments and a total of $325,000 in exploration expenditures. The Weaver Gold property, located in the East Harrison Lake Belt and accessible year-round by road, has returned high-grade historical trench and drill results for gold and silver and may also host magmatic nickel-copper sulphide mineralization, and the joint venture structure is intended to advance exploration while sharing risk and capital requirements as both companies seek to capitalize on stronger gold prices and expand their presence in the BC exploration sector.
More about Pacific Bay Minerals
Pacific Bay Minerals Ltd. is a Vancouver-based mineral exploration company focused on critical and precious metals in British Columbia. Its flagship Haskins-Reed Critical Minerals Project in northwestern BC hosts tungsten, copper, bismuth, silver, lead and zinc in multiple high-grade polymetallic zones with extensive historical drilling and underground workings, and the company also owns 100% of the Weaver Gold project in southern BC, targeting orogenic gold-silver mineralization.
Average Trading Volume: 14,694
Technical Sentiment Signal: Strong Sell
Current Market Cap: C$1.95M
Learn more about PBM stock on TipRanks’ Stock Analysis page.