Pacific Bay Minerals adds to property holdings in Yukon

Pacific Bay Minerals (VSE) is acquiring additional ground in the Finlayson-Wolverine Lake area of southeastern Yukon.

The discovery of the ABM base metal deposit by Cominco (TSE) at its Kudz Ze Kayah project, followed by the Wolverine discovery of Westmin Resources (TSE) and Atna Resources (VSE), has drawn attention to the region’s potential as a volcanogenic massive sulphide camp.

Pacific Bay has staked 88 mineral claims, 75 km southwest of the discoveries, in an area described as hosting favorable geology.

In a separate deal, the company can acquire the JK 1-42 block of claims for a payment of $30,000 and 100,000 shares.

The JK 1-42 claims are 35 km north of the Kudz Ze Kayah and Wolverine deposits, and cover numerous base metal showings and anomalous soil geochemistry, coinciding with a 1.6-km-long, magnetic anomaly. Sampling in the late 1960s returned assays ranging up to 16.2% copper, 9.2% lead and 3.6% zinc, as well as 490.3 grams silver per tonne.

Pacific Bay’s acquisitions complement its TY property, which is 30 km south of the Wolverine discovery and features a “good sulphide showing.” Westmin can earn up to a 60% interest in the TY claims by paying $50,000 and spending $500,000 over three years.

Pacific Bay intends to carry out comprehensive exploration of its Finlayson Lake holdings beginning in the spring.