Pacific Bay Minerals Ltd. (TSXV: PBM) has released assay results from its Phase 1 exploration program at the Weaver Lake Gold Property in southwestern British Columbia, with a standout grab sample returning 26.7 ppm gold (0.78 oz per ton) and 1,350 ppm silver. The result was recorded approximately 130 metres east of the interpreted main vein system targeted by past drilling and underground workings. The property is currently under option to Aurwest Resources Corp. (CSE: AWR), which can earn a 50% interest over three years. Management from both companies has indicated that a Phase 2 program, including geophysical surveys, will proceed.

Key Points

  • Pacific Bay Minerals Ltd. (TSXV: PBM) announced Phase 1 assay results from its Weaver Lake Gold Property in southwestern BC
  • Top rock sample returned 26.7 ppm gold and 1,350 ppm silver, with 76 rock samples, approximately 247 soil samples, and nine silt samples collected
  • Mineralization is interpreted as consistent with an intermediate-sulfidation epithermal Ag-Au (± Pb-Zn) system; results reviewed by Qualified Person David Bridge, P.Geo.
  • Investors may be watching for details on the scope and timeline of the confirmed Phase 2 geophysical program under the Aurwest option agreement

High-Grade Rock Samples Highlight Weaver Lake's Epithermal Potential

The 76-sample rock program at Weaver Lake returned precious-metal values consistent with historically documented quartz-carbonate and sulphide veins. Sample 82133, the highest-grade result, assayed 26.7 ppm gold and 1,350 ppm silver alongside 955 ppm lead and 604 ppm zinc. Several additional samples recorded gold values between 0.29 ppm and 0.45 ppm with elevated silver. Vein mineralization was structurally controlled, occurring in comb and void-fill textured quartz veins generally 2 to 10 centimetres thick. The multi-element signature, including pathfinder elements and a strong gold-silver correlation, is interpreted as characteristic of an intermediate-sulfidation epithermal system.

Soil and Silt Sampling Expand Multi-Element Anomaly Footprint

Approximately 247 soil samples were collected to confirm and expand gold-in-soil anomalies identified in the 1990s using modern multi-element analysis. The top two soil results were sample 2376357 at 0.36 ppm gold and 7.28 ppm silver, and sample 2376191 at 0.23 ppm gold and 25.20 ppm silver. Nine stream-sediment silt samples from principal drainages also returned supporting anomalies, with results aligning with regional British Columbia Geological Survey drainage anomalies. The company stated the new multi-element dataset provides consistent, georeferenced coverage to integrate with historic drilling and mapping for follow-up target prioritisation.

Phase 2 Confirmed as Aurwest Option Agreement Advances

Aurwest Resources Corp. holds an option to earn a 50% interest in the Weaver Lake Gold Property over three years. Both Pacific Bay President and CEO David H. Brett and Aurwest CEO Cameron MacDonald confirmed in the announcement that Phase 2 exploration, including expanded work and geophysical surveys, will advance on the strength of the Phase 1 findings. The property's southwestern BC location was described as favourable for year-round exploration. All samples were analysed by ALS with quality-control procedures including blanks, standards, and duplicates. The immediate share price impact was not clear from available public information.